The recent government cutbacks on all levels – city, state, and federal – would be enough to make any entrepreneur nervous, but they don’t have to make you nervous. As long as you’re willing to stay flexible (which is a given when you use a serviced office or virtual office) and on your toes, you needn’t worry excessively about your business being impacted by government cutbacks. In fact, you can even see this as an opportunity to grow your business.
For example, state employees who lose their job are now available to be hired by private businesses. You won’t have to worry about your business vying to get the attention of talent that may have been enticed by better benefits that many government positions offer. You can hire excellent employees that may not have otherwise been on the market for hiring.
The cutback of government employees at all levels also means that there are opportunities being created for outsourced positions within government offices. This might be a good time to re-evaluate what options you have for people who want to bring you or your business in as a 3rd party within their operation.
If your business deals directly with the government, the best strategy is to help them find ways to SAVE MONEY! You already have the knowledge that spending will be reduced, so help them reduce that spending – by using more of your products or services – and you will end up with more business as a result.
If you don’t deal directly with the government, but your clients or customers do, you can also find ways to be proactive about the situation. Chances are that they are already worried about the government cutbacks and the effects it will have on their business, so if you or your business can step in and provide a solution to those problems, you will cement their view of you as a valuable, necessary resource, even in times of economic turmoil.
Additionally, since the government is cutting back in other areas, it’s increasing the availability of its free resources – both online and off – for businesses. These can be valuable resources when educating yourself or other team members, and are certainly cost effective!
The Small Business Training Network provides 30 courses on various aspects of business, in the forms of videos, podcasts, and virtual courses. The courses only take 30 to 35 minutes to watch, making them easy to fit in to a busy day. Topics range in scope from strategic marketing to accounting, giving entrepreneurs the ability to brush up on areas in which they might be rusty. They also produce videos of interviews and news from top business leaders as a learning opportunity. Other features offered include monthly live web chats, a business planner and template, and success stories for inspiration.
Google even joined the SBA to produce the website Tools for Online Success, showing that the SBA truly understands the necessity of staying on top of technology and using the web in today’s businesses.
With all of these resources and opportunities at your fingertips, there is no reason for your business to suffer from cutbacks, and every reason for your business to benefit from them if you plan ahead.
Research Analyst, Pacific Business Centers (rebranded as Pacific Workplaces)
Courtney’s research for Pacific Business Centers focuses on tracking emerging office space trends and best practices – with an emphasis on how they affect business operations, technology, and the future of work trends.