Herman School of Business
Weather the Storm...
For those of you still watching…I hope to drop a few lines as time goes by. The last three weeks have been amazing…visiting owners, bankers, private equity fund managers, and getting to speak to many business groups all over the country.
Two things stand out that need to be addressed. People are resiliant but not yet realistic. When you say out loud that things are going to get worse they think you are a doomsday person. NO…I AM A REALIST.
People don’t want bad news because it brings them down. So they want to wear rose colored glasses whenever possible. I WANT THE TRUTH.
You can’t turn the corner ahead unless you know where you are going. Today’s announcement is that the 95th bank just closed for the year. Folks, there are many more to come as we have not admitted the truth about commercial real estate loans. How can any business afford the rents from leases made two or more years ago when revenues are falling off the charts? Yet, landlords can’t cut rents and keep up payments on mortgages that are higher than the value of the building.
If you would just face reality…and think and plan in what is the real world…incredible opportunities are all around you. Ignore being sick and you will stay sick. Diagnose your problem, take the right medicine…and you get better faster!
ATTENTION MY CEO COLLEGE BUDDIES...I AM SPEAKING TWICE AT THE CEO CONFERENCE IN CHICAGO IN OCTOBER...PLEASE COME AND BRING TWO FRIENDS AS MY NEW SPEECH WILL WAKE YOU UP AND MOVE YOU FURTHER DOWN YOUR ROAD TO SUCCESS.
- Posted: 27 September 2009
- Comments: 0
- Category: Business success