DEAR HARRIETTE: I have a small business that has experienced many ups and downs over the years. We did well during the pandemic. Now that we are a couple of years out of quarantine, things are tight again. My contracts are dwindling, and I am finding it difficult to drum up new business. I don’t want to become despondent, but it is hard. Just when I thought things were going well, the economy fell out and I am scraping to keep my staff and everything going. I have cut back in every way that I can. How can I keep a positive mental outlook when the horizon is looking pretty bleak? -- Life of an Entrepreneur
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DEAR LIFE OF AN ENTREPRENEUR: Review the history of your business. What has worked over the years? Since you have been able to stay alive through lean times in the past, now you need to consider how you did that. Are there any practices you put in place before that you can adopt again? While you are already cutting the fat, what else can go? Can you automate any parts of your business? While AI is still somewhat controversial, many companies are utilizing it to cut down on costs. Do your research to figure that out.
It may also be time to think about recasting your net. What does your business do? Should it shift at all during today’s times? If so, how? In order to stay viable, you have to stay current. If you focus your attention on solving all of the problems mentioned above, you won’t have time to worry. Wake up every day with the intention of surviving and thriving. Look for opportunities that will help you get there. This should keep you upbeat.