Here is the answer we have received from our Think Tank, to the following question:

Can small businesses really prosper in the current shattered U.S. economy?

Yes. We are going through some rough times, but things should start to improve gradually soon. There are 12 elements to take into account in order for businesses to prosper in spite of the current situation:

1. A Source of Stress: Assess strengths and weaknesses of the business and see what can be adjusted. It is necessary to acknowledge a problem before being able to solve it. There are always things that can be changed. One needs to be honest and realistic and not rely on falsehoods. An adaptation to the market is necessary and we must reevaluate and question thee status quo. President Kennedy’s maxim of not asking what the country can do for you but ask what you can do for the country is truer than ever.
   
   

   Also, customer service is becoming more important than ever. It cannot be neglected anymore. Employees must be trained and businesses need to offer more for their clients’ money. Employees must be involved and participate. All employees are important, whatever their grade: it must be a common effort and all employees need to feel valued. Managers must be made aware of the importance of all employees and casts must disappear.  All employees must feel like they belong.

   Business operations need to be well coordinated: good service, followed by quick delivery, followed by good post-sales service. The supply chain needs to flow well. That is why any weak point needs to be addressed and corrected, including the overall image of the company when necessary.
   
   

2. There are currently unexpected elements among businesses and that need to be addressed: there needs to be some research done and innovative approaches implemented. Businesses must not just advertise: they need to develop better products and customer service. New things are necessary to attract new clients or to reacquire them. Value-added services and new ideas are essential. An example of this, though not a new idea: a ball room or playroom where kids products are sold.
   
   Where there was a lot of wealth everywhere before, now resources are more limited and need to be put to better uses. Because that wealth was abundant, mass production and services were more acceptable than they will be now. Personalization and customization are essential for business prosperity. People want to feel a sense of security, comfort and feel like they belong. These are the elements that will make a difference.
   
   
3. Right now:  we must stop saying that we are helpless and blame others. A change in mentality and attitude is required. Look at the situation realistically, identify trends and find the potential. Adjust. Remember that what has not worked in the past may well work now, and what worked before is not working anymore.
   
   Some people think that they are untouchable, and those will suffer the most. When they come out of this crisis, people will really have changed their habits. Those who are unprepared will be caught short. No business will be spared.
   
   
4. Advantage: It will be advantageous to change the mentality, cut in the fat and increase the adaptability. Abandon what doesn’t work and find better and more efficient ways. Everyone will have to adapt. We must be visionaries. Adaptation is essential at this point: there is no turning back.
   
   
5. Work: We need to be patient because everything will start again, but slowly. Some adjustments will not be easy. For instance, it will be necessary for employees to understand management’s position as well as the other way around. Employees will need to have an active role in their company, and a responsibility with their peers. For instance, it might mean to take a small pay cut to avoid layoffs. Everyone, without exception, will have to compromise, including unions. If employees want their employer to survive, they will have to help it. It will be a common effort, never seen before.
   
   
6. Emotional Aspects: Respect is of the utmost importance. People need to create relationships in their work environment, including between management and employees. One cannot afford to bite the hand that feeds him anymore.
   
   
7. Mentality: People do not want to change, and the resistance to change is great, but we do not have a choice. Thinking and attitude need to recognize the changes that are happening, whether we like it or not. Emotions have no place in thee work environment, and a company is not a kindergarten or a mother. We all need to pull up our sleeves up and get down to work. Businesses may not be able to continue giving as many benefits as before because of the economic situation, and failure to adapt may force them to close down. Both employers and employees will have to adopt new methods and ways of doing things. We must see this as a game rather than a tragedy. Innovation is key.
   
   
8. Future: We must stop passing the buck and everyone needs to sit down and find a solution together. Stop procrastinating. Make alliances with new partners that are mutually beneficial. Things will get better only for those who have realized the changes that are happening and adapted accordingly. Everyone must take responsibility.
   
   
9. People need to help one another. Exchange services. This situation is favorable for bartering and it should grow in popularity. People need to be proactive and not hesitate to help. Not just complain, but do something about it. Find solution that are satisfactory for everyone involved.
   
   
10. Caveat: A lot of people think that things will sort themselves out and everything will get back like it was before. This will not happen. Wealth will make a come back, but according to new rules. The status quo will not survive. Wealth will keep moving in an arbitrary manner, in a way that no one has foreseen. Businesses will not be able to rely on past performance. This situation could last 2 years. There will be an economic improvement, but it will not be stable at first and will keep shifting for a while. There will be ups and downs for a period.
    
    
11. Out of our Control: People are reluctant to pull up their sleeves: they are waiting for something to happen. That is not the solution and nothing will happen until they take action. It would be a great mistake to wait for someone else to solve the problem and think that the government has all the answers. It must be a concerted effort with everyone involved. Those who wait will get nothing and the wealth will go to visionaries, those who do not wait. We must identify where changes can be made and realize that companies do not have unlimited resources. Change starts at the individual level.
    
    
12. What’s Next: Acting on these recommendations will bring success and wealth. It can be done, but it will not happen on its own!