Ask an Expert: Entrepreneurs, you can tough it out

— -- Q: Do you think the next four years will be better for small business than the past four? Other than the last 12 months or so, I was pretty happy with how things were in my business. — Taylor

A: If I had the opportunity to give a State of the Small Business speech, it would go something like this:

My fellow small business owners: Here we are on the eve of an historic presidential inauguration that all Americans can rightly be proud of, yet the state of small business is one of worry and concern. We stand on the brink of an era that is full of both promise and peril.

The economy is the worst we have seen in over 50 years. Capital is hard to find. Finding new customers is even harder. And because consumers are reluctant to spend, businesses all around are truncating and cutting back. You probably know someone who is out of work.

So what are we to do?

First, knowing that we have faced tough times before — and made it through — should help us know that we can survive these challenging times as well:

• Back in 1980, right when Ronald Reagan took office, inflation was running at 19% and unemployment was at 12%. Try running a business in that sort of climate!

• 1932 saw the Great Depression, with 25% unemployment, no spending to speak of, and followed by a recession just a few years later.

• The Civil War saw the destruction of the economy of half the country.

But knowing that times were tougher before does not put food on the table. It does not help you meet payroll. It is an intellectual comfort, but not much of a financial one.

So, while you have to believe, you also have to act.

Change is in the air, and change is what is needed. There is a saying • "if you always do what you have always done, you will always get what you have always got."

But that's not true today.

If you continue to do what you have always done, you will likely get less than you are used to getting. Those are the times we are living in. So what do you do? You have to do more. You may have to work more. Or advertise or network more. You might have to hustle more, or schmooze more, or be more creative.

But what you cannot do, should not do, is do what you are used to doing. People are changing. Their habits are changing and how and what they buy is changing. You must change or perish my friends, change or perish!

What is required of you today should not be unfamiliar to you. You have already once done what you need to do. What is that, you ask? Namely, it is to take action. Remember when you first started in business or your career and you had no idea what you were doing? That did not stop you then, did it? You took action anyway.

And that is what you must do again. Dust off those musty plans, those dreams deferred and wacky ideas and take them for a spin. Who knows where they may take you.

The important thing is that you be brave and move forward. Do not be paralyzed by fear or worry. Remember what a wise man once said:

Fear: Ealse Events Appearing Real.

Of course the times are tough, that is very real. But the worry about what might happen is the real enemy. Things rarely turn out as bad as you fear.

Acknowledge the times. Accept the challenge. Change and act. Things will get better. They always do. Remember that.

Thank you, good luck, and may God bless you and your endeavors.

Today's tip: Want some help getting ahead? Consider joining the Great American Small Business Challenge, a new, national non-profit event, co-sponsored by over 25 Small Business Development Centers.

The Challenge is intended to help small business owners develop the leadership skills and follow-through actions they need to deal with this challenging economy. All Challenge participants receive free access to useful organizational-improvement software, leadership-training and support. You can learn more here.

Ask an Expert appears Mondays. You can e-mail Steve Strauss at: sstrauss@mrallbiz.com.And you can click here to see previous columns. Steven D. Strauss is a lawyer, author and speaker who specializes in small business and entrepreneurship. His latest book is The Small Business Bible. You can sign up for his free newsletter, "Small Business Success Secrets!" at his website —www.mrallbiz.com.