In Small Business You Adapt or Get Out!

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“In Small Business You Adapt or Get out”. Small Business is always in a state of flux.

  • Products are upgraded
  • New Products come out
  • Upgrade to Services
  • New companies arrive
  • New Manufacturing Processes
  • New Materials for Processes
  • Companies Merging

And for the same reasons above it can be a disaster for a small Business. Particularly if the business has inventory in stock to sell and they have a fire. Do they have a fire sale to unload their goods? If they put their business on the market the vultures will swoop in and offers will not be fair or good.

On top of that employees will have to be let go or furloughed. If you have loans they have to be paid, rents, electric, water, gas, sewer, taxes and so on also have to be paid even if you are not being paid.


This type of small business brings many responsibilities in order to remain relevant and competitive. With this type of business it is necessary to have a bookkeeper, computer with software and a cloud system to accomplish the job & provide backup.

The cloud makes it useful for access from anywhere necessary whether on a sales call etc. This type of small business is a very expensive proposition for a business whether you buy one or build one.

I had my own 1 person distribution business for 17 years. It took me 5.5 years before I turned the corner from Red Ink to Black Ink.


I had 3400 inventory items. 2 SBA Loans that I paid off and my best year of sales was almost $1,000,000.

I sold the business in 2005 for not much money. Why did I sell it, because the Free Trade Agreements sent the work to Mexico and finally to China.

There are all kinds of economic pressures & some physical that can assault businesses small and large to cause problems for a business owner. For example, Inflation, slump and the Covid-19 virus of 2020 & continuing into 2021.

If you cannot Adapt you are always at the mercy of the economic world happenings.

That in a nutshell is why I like Wealthy Affiliates. For openers it is affordable and you don’t have to worry about taking $200,000 loans.

Training to do your job to the best of your ability is part of the Package. You’ve got the best support system from members and the support group available 24/7 that is the Cat’s Meow (Merriam-Webster Dictionary).

You’ve got hundreds & hundreds of Video’s available 24/7 at your fingertips. If a super disaster comes along you are flexible to change your direction to face the new challenge.

For example, you know the Vacation industry has gone into hibernation whether it be Planes, Boats or Playgrounds. As an Affiliate Marketer you can make a new Marketing Plan with another Niche (a market share) and soon be putting it back on track to recovery.

Tell me any other type of small business can do that as easily!!! And for the most part, if you are working from home your expenses and overhead do not change.

Other advantages are also premium to that situation. You do not need a Bookkeeper, or sophisticated bookkeeping system, I will get into that one in a future Blog.

As an Affiliate Marketer you don’t have to send out invoices because the individuals paying either send a check or direct deposit. Because of that, for the most part you don’t have to do collections because you are running an accounting cash business.

You do not have to write a Purchase order nor pay Accounts payable. You don’t have to create shipping documents as well.

The Accounting System you use is determined by the Business that you run! As you can see from above, why an Affiliate Marketer can operate as a Sole Proprietor for quite a while.

The ones that I know do not have employees but as they scale up their business they hire Independent Contractors.

If you look at the total picture, your Business is ready for almost every conceivable problem, that is not to say that something can not happen.

If you have a small computer system and there is a fire that night. All's not lost because you have an offsite cloud backup so all you would need is a different computer to restore from the cloud to your computer as of yesterday.

Wealthy Affiliates when you join as a member, gives you all the tools that you need so that you can make a business that you want to be in and proud of.

It gives you Step By Step directions and if you follow them Flawlessly, you can have a business of your own with a cost that is the lowest admission charge in the Affiliate industry.

Good Luck & Happy Blogging.

Edward

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Recent Comments

13

You have spoken truth. There is so much to consider when building any kind of business. We are lucky at WA because many things are done for us... or if not done for us, we are given careful instructions on how to do them.

Thanks so much for reading my Blog and I appreciate the comments, Best to You.

I have already re-pivoted several times despite my long hours of research. Pain and struggles on this journey as on any other- this is why I emphasize every newbie must eliminate the thought of get rich quick out of their minds even if in those rare instances it happens. We must indeed adapt, redirect course when needed, that is the inherent nature of AM and many businesses of life.

Great post Ed 👍

Christorv - I wasted a lot of time on my first one but 2nd one is starting to help people while I work on getting traffic. The Key as everyone knows is NICHE not to narrow nor to wide. Wish you the best. Thank you so much for the comments.

Niche not too narrow or wide - found that out the hard way lol

Great perspective here, Edward! We've seen such changes in small businesses through the years, but so many more during the pandemic. My husband has a computer company geared toward a specific vertical and it's amazing how some businesses have pivoted and done exceptionally well, even with the pandemic, while others flounder and fail when they are unable to adapt.

Your article rings so true! Thanks for sharing.

Thank you so much for reading my Blog today and I am so glad that it rang true.

Some very good insights, Edward, it has certainly been one rolla coaster of a ride over the last 12 months.

There has certainly been the need to pivot.

When it comes to AM, it is an all weather business model, which is very well suited to the current situation we find ourselves in.

Hey Edward this is a wonderful way to show and wrap the pains and struggles of small business with the hope and opportunity that WA offers. Real close and personal and the kind of blog I think can convert. Make sure to rehash and put on your site.
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Hugh

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