I’m not a SharkTank fan, nor I am a television fan in general. But last Monday, as I was wolfing down a quick lunch, I happened to catch a few minutes of a cable news financial program. Kevin O’Leary was being interviewed and the subject was the state of the economy as it relates to small businesses.
You have to admit Kevin O’Leary knows how to make and keep money. And he has a LOT of skin in the game when it comes to the well being of small businesses. He admitted how many small businesses he has a partnership in and he is SUPER concerned about where our economy is headed.
Keep in mind, these are his thoughts, not mine.
Kevin thinks our current political leadership, culture and power base favors the continued power and growth of big business at the expense of the small business owner.
Since Covid, just look at the increase of costs for anything necessary for a small business owner to operate. Fuel, wages (nobody wants to come to work), food costs, shipping costs, and on and on and on.
By all estimates, this trend will continue to play out. Enriching certain large corporations and squeezing the life out of many small business owners.
Here are some important considerations…
Will the pendulum swing back?
Historically speaking, yes absolutely. As they say there isn’t anything new under the sun and our country tends to see these economic swings.
But the questions for you and I are…
How long will this last? And more importantly, how can you react and pivot now?
Wasting money each month on marketing that seems “experimental” at best, isn’t prudent.
Do you know what makes sense? A marketing partner.
Instead of allowing your credit card to be silently dinged every month by a large digital marketing company, wouldn’t it make sense to consider a small digital marketing agency whom you could speak with all the time?
Now where would you find a small agency like that?