Summer 2001 Issue no. 3
In Wake of 9-11, Should we be afraid to do business?
The answer to this question certainly is no but probably we could learn to be more careful in the way we do business. It is true that post 9-11 consumers appear to be more reluctant to do business in the same fashion or with the same attitude with which they did business prior to 9-11 and it has certainly been more difficult for many businesses to continue on the same level as business was being done prior to 9-11.
But, in the aftermath of 9-11 we should not be afraid to continue doing business and we should not be too short sighted in our evaluation of how our business is progressing. Faith in business certainly must be rejuvenated but there should be no need to resurrect it because we should not have lost faith in business. Probably more damage may have been done to faith in business because of the Enron scandal than 9-11, maybe rightfully so because the Enron situation more clearly projects the uncertainties of the direction business could take if we do not keep a watchful eye over it.
We must learn to control our business rather than to have it control us. We must return to the fundamentals of good business and keep the focus and attention on the basic qualities that a business should endeavor to establish. The quality of business, the quality of the product that is given, the quality of the atmosphere in which business takes place, the quality of persons who are involved in the transactions of that business, the quality of the arrangements and understandings between the participants in the business, the honest approach to doing business and dealing with those customers and potential customers of a business in establishing with them the faith in our business; these are basic qualities of a business that we must not lose sight of and should endeavor to establish and continue. It is a foundation upon which a business is established and will progress if the foundations are kept in tact. Don't let the after effects of a disaster such as the 9-11 or the injustices practiced by scrupulous principals of a business as with Enron to detract from our being able to control our business and our ability to direct that business. Don't be frightened by what may appear to be a lack of interest without giving time to that business to again establish itself to the higher levels that may have been experienced prior to certain material events happening.
Use common sense in viewing the effect upon a business of certain material events and don't be afraid to question whether those events should have had an effect or were the cause of what appears to be an adverse effect on a business because those events may have overshadowed what may be the real cause for a business down turn or may make what appears to be a long term effect of those material changes on business which in reality may only be a temporary set back. Don't start cutting corners that might now adversely effect the business in response to those material events. Do not sacrifice the quality of business that you have established and quality of relationships that have been established through that business for the sake of hope that cost cutting or other cutbacks and limitations and/or other restructure measures are the answer. Do not jump the gun and attempt wholesale material changes where patience might reward you with foresight to see that setbacks may only be temporary because one must look further than just cutting the expenses because the income may not be there. If a cost cutting analysis is made that analysis must not reject the very positive aspects of maintaining the quality of the business being conducted, even if at an otherwise avoidable expense. If quality is maintained, then the reputation for quality will remain and eventually true customers of the business who have recognized that quality will return or will likely return.
If the quality of the business is sacrificed however the impressions that have been in the past given to customers and potential customers of the quality business conducted will be lost and it is unlikely that those customers will return. In hindsight, it is always easy to blame the downturn of the business on outside events, which may or may not have had an influence. It is more difficult to evaluate the situation from the standpoint that there may be no blame or possibly that the downturn may only be temporary. The situation is easier to handle if initially when the business is established a more realistic outlook of expenses to be incurred is made, which takes into consideration reserves for the unpredictable. Business to eventually be successful must be given time to mature and during that period of hopeful maturity the business proprietor must take into consideration the unpredictable and must have considered in it's decision to commence that business the possibility of the unpredictable.
If in one's evaluation of the establishment of a business and predictions as to future costs, one does not take into consideration the unpredictable and does not establish reserves in its budgetary considerations for the unpredictable then one must give second thought initially into whether it should commence that business at all. The rule of thumb as I've been taught is to give any new business a two to five year period of time before one can really evaluate it's prospective future. If in that time period the unpredictable happens then one must not panic and if one had prepared at least in part for the unpredictable through reserves then one should be able to tread water in the tumultuous sea of commerce and play the waiting game to see if the problem being experienced may be only temporary.
Good Business foundation will usually result in sufficient security to allow the business owner to withstand temporary set backs. Don't lose faith in yourself recognizing the quality of a business you initiate by allowing outside forces to undermine the good foundation of a business that you have established. If you cannot withstand temporary set backs than you probably made amistake in your initial analysis of the business opportunity. Also do not lose sight of what I like to call the intangibles of a business, those aspects of a business that do not necessarily bring in immediate income. These are the long-term qualities of a business, the impressions that the potential customer receives from a business establishment, the manner in which the proprietor and its employees or other participants interact with the potential customer base, the attitude one brings to a business and the mood one establishes in its business participation.
Is there a change of attitude caused by the pressures brought to bare because of what maybe temporary set backs? Is the cleanliness and orderliness of a business sacrificed because of inactivity or laziness in attitude practiced in the business in the wake of what may very well be a temporary set back. Pressure is brought to bare under these circumstances and depending on how the business reacts to that pressure will have a major impact on how the business progresses if at all thereafter. There is as they say never a second first impression, and businesses are making first impressions all the time. That is where customers for the most part derive from. Don't let THEM scare US UNITED WE STAND! That is what makes this Country great. GOD BLESS AMERICA!
THE INFORMATION PROVIDED HEREIN IS NOT NOR IS INTENDED TO BE LEGAL ADIVCE. YOU SHOULD CONSULT AN ATTORNEY FOR INDIVIDUAL ADVICE REGARDING YOUR OWN SITUATION.
Thanks again to our family of clients for their continuing support. Not to the exclusion of others we note the continuing support of Synergy Brands Inc., a public entity organized and administered by a quality management team who have been members of our business client family for over ten years. We also specifically acknowledge the loyalty of our friends at Gregory Medical and Gregory Surgical, Management Partners and affiliated parties, among whom we render respect to and thankfulness for the efforts of Dr. Jose Sanchez-Pena and Hesham Eltrhonny. We are also appreciative of the many efforts and time committed to our well being by Amro Aly and his affiliated companies. We thank John J. Becz, Esq. for his friendship in the profession in which we both participate and we recognize the many others of our profession lending their assistance. We are truly a fraternity (thank you Dean Despotovitch, Jim Fox, John Milling, Joe Colbassani, Kevin Roe...) and let us not forget the blessings bestowed upon us by our so many other wonderful clients too numerous to mention but of whom mention is made specifically to some but not all in the summary of existing clients made part of our website to which we suggest you refer, any and all of whom we are confident visitors to our website may contact for further reference regarding the quality of our services. Let me not forget the loving support of my staff-Kellie, Victoria and Leonor. Lastly, but certainly not least I am thankful for the love and support of my family and I would like to welcome the addition of my son, Randall Joseph "Joe" Perry Jr., who has joined my wife Beth and myself, and our daughters Erica and Emily to form the core of my existence, without whom I am not certain I could proceed successfully.