The year ahead - Up or down? Confident of not?

PHONiC.ie

Hi all,

Just wondering how you all feel regarding your own businesses going forward into 2010? Granted, its been a hard year, but how do you feel about the next 12 months? Sure, its not going to an overnight recovery, but do expect things to pick up, no matter how big or small they do so? Or are you expecting more of the same, and harder times ahead?

Personally, I'm quite hopeful and confident going forward, I rely on advertising revenue, which fell on its arse this year completely, but i'm quietly confident that things will head upwards this year. I also believe that if you think you're set for failure in 2010, you probably will. So you have 2 days to get your head together and get the mindset perfect for January 1st!

wilson10

Does recovery mean that the multinationals will come back from China and reopen the factories.

Are the builders going to resume building houses, shops and factories.

Are shoppers going to go on a spending spree (in the Republic), prompting retailers to start recruiting.

Call me a pessimist, I believe I'm a realist.

Without jobs there can be no recovery and I can only see longer dole queues.

PHONiC.ie

Wilson, I think you are in the wrong thread. This thread is about peoples hopes for their own businesses in the year ahead. Not the lack of jobs or length of dole queues.

Every point you have made has been made by a million people this year, there is literally no point in you making it any more unless you intent on offering a solution. Can you do anything to bring the multinationals back from China? Probably not. Are you going to push the Irish nation to shop at home? Probably not. Are you going to push retailers to recruit? No, you cant. You may be a pessimist, you be a realist, but there is no point in people constantly droning on about these points unless they are actually going to DO SOMETHING about them. In most of these cases, you cant fix the problem.

Concentrate on what you can fix. There is no point in us moaning about the same old stuff in 2010, we cant change a lot of it and moaning just serves by adding to the problem. There are loads of things you can do in 2010, maybe concentrate more on them...

kenbrady

PHONiC.ie wrote: »

Concentrate on what you can fix. There is no point in us moaning about the same old stuff in 2010, we cant change a lot of it and moaning just serves by adding to the problem. There are loads of things you can do in 2010, maybe concentrate more on them...

There is also no point in blind hope and false confidence. What are you doing to combat the above facts about the Irish economy. Why are you hopeful and confident 2010 will be a good year for you. How are you going to make it a good year ?

wilson10

PHONiC.ie wrote: »

Wilson, I think you are in the wrong thread. This thread is about peoples hopes for their own businesses in the year ahead. Not the lack of jobs or length of dole queues.

Every point you have made has been made by a million people this year, there is literally no point in you making it any more unless you intent on offering a solution. Can you do anything to bring the multinationals back from China? Probably not. Are you going to push the Irish nation to shop at home? Probably not. Are you going to push retailers to recruit? No, you cant. You may be a pessimist, you be a realist, but there is no point in people constantly droning on about these points unless they are actually going to DO SOMETHING about them. In most of these cases, you cant fix the problem.

Concentrate on what you can fix. There is no point in us moaning about the same old stuff in 2010, we cant change a lot of it and moaning just serves by adding to the problem. There are loads of things you can do in 2010, maybe concentrate more on them...

In the title of your thread, you asked 2 questions. I could have simply answered; Down and Not.

I simply elaborated, explaining why I feel as I do about the future.

I am in business quite a number of years now and have been trying hard to keep things together over the last few but have been thwarted at every turn.

I am in sub contract engineering and have felt the consequences of globalisation much longer than most.

While most of the country was riding the tiger, I was trying to hold on to customers who were sourcing their bought in components in Eastern Bloc countries, Hungary, Poland & Czech Republic and lately in China & India.

Having managed to cut costs and hold on to some of this business, the big problem now is that these customers are either going out of business, doing very little business or upping sticks altogether and heading for the low cost economies, where they will source and manufacture.

I have been very reluctantly forced to lay people off and obviously I am constantly looking for new business but customers are getting scarcer and competition is getting more agressive. Allied to this, I daren't approach my bank with my problems as I may be opening a can of worms.

I hope you will understand why I'm not full of the joys of the forthcoming Spring, but I have, nevertheless, every intention of staying in business.

Sonnenblumen

I expect H1 2010 to be tougher than H2 2009, but would be hopeful that by H2 2010 business investment will pick up as signs of recovery emerge.

There is no doubt, unemployment will be an issue for many businesses, but more will rely on consumer confidence. Expect some new business models to emerge during 2010, and perhaps downsizing of traditional manufacturing sectors to continue.

Prepare for a phase of jobless growth and for business owners, focus on staying alive, whatever it takes to do so.

This probably makes me more a pragmatic realist and not an overconfident optimist, but I would gladly be wrong:D

FusionNet

Well what bugs me about the down turn is thats its small business that runs this country yet we're the only ones not getting support. Im similar to you Phonic my industry got a hammering and Im seeing competition and supply chains vanishing.

I think it will be good in time but Im not hoping for things to be back to the way they were. As shops and businesses close it leaves more busines for the leaner fitter businesses. In time maybe over 2-4 years the ones that survive will find business will pick up. I dont think spending will increase but I think volumes through the door will. For example in my industry there were a lot of people doing CCTV, they in turn had lots of staff and lots of overhead. As Im a smaller operator I can offer better pricing and now I see my competitors scaling back and parking up the vans.

It hasnt been an enjoyable year 2009, the banks have been horrible and if you made spending errors in 08 they really came home to roost in 09. All that said. I intend to increase my customer base in 2010, Im taking on new products and have totally changed my credit terms which I think will lead to less stress. Most importantly Im going to try and set up a small manufacturing business which is very exciting yet very scary!!

Anyone here in manufacturing? How was your year??

chowdown

From my own perspective, I'm fairly optimistic about 2010. I work with small firms and business associations with their research needs and I've seen a small air of optimism over the last few months. After a year of panic, cost-cutting, expenditure slashing and redundancies, companies are beginning to re-invest and they're taking a slightly longer-term outlook which is good news.

Small firms and sole traders have shown themselves to be more confident than bigger businesses over the last few months, even though the lack of credit really squeezed them. I think 2010 is going to be the year of the expert. 2000-2009 was the decade of the amateur speculator and people rightly blame the rise of the amateur for a lot of what has gone wrong with the world's finances. In 2010 people will be more careful with their money and how they invest and they'll want to trust professional experts with their businesses and money than be impressed with flashy promises of easy money.

I've noticed how much business I'm doing through social media like Twitter, LinkedIn and my personal website. I think it's because people want to make personal contact in their business life - and suss out the person they're dealing with - rather than trusting a big faceless corporation.

Does this strike a chord with anyone else?

kenbrady

chowdown wrote: »

. I think 2010 is going to be the year of the expert. 2000-2009 was the decade of the amateur speculator and people rightly blame the rise of the amateur for a lot of what has gone wrong with the world's finances. In 2010 people will be more careful with their money and how they invest and they'll want to trust professional experts with their businesses and money than be impressed with flashy promises of easy money

2000-2009 was the decade when the professionals who got it wrong. None of these top economists had a clue. Everything that was done to cause the crash had the backing of the top so called experts and big firms.
The next decade will see the death of expert consultants, people realise they don't have a clue. The key to success is simplicity and clarity.

chowdown

I think what is forgotten is that most of the economists who were quoted over the last decade were employees of bank marketing departments, rather than their research department.

They did have a clue - as much as a clue as anyone else - but the lack of proper information about what was happening to the economy meant that opinion was presented as fact, and rumour was presented as insight.

Expert opinion - real experts giving meaningful opinion based on proper facts - will mean it's unlikely the marketing departments of these big organisations will set the agenda. There's a role for the small entrepreneur to set the national agenda and I do think their voices will become much more persuasive because of the real information they have at their fingertips.

Simplicity and clarity are indeed the keys to success, but so are expertise, professionalism and knowledge.

Maxalon

In 2010 people will be more careful with their money and how they invest and they'll want to trust professional experts with their businesses and money than be impressed with flashy promises of easy money.

I've noticed how much business I'm doing through social media like Twitter, LinkedIn and my personal website. I think it's because people want to make personal contact in their business life - and suss out the person they're dealing with - rather than trusting a big faceless corporation.

Does this strike a chord with anyone else?[/quote]


Your right here, business has always been about networking and contacting customers. With social networking and globalisation you can not rely on the foot fall past your door anymore. You need to develop new ideas, new ways of doing things, new products, its just marketing 1-on-1. Don't tell people what they want, find out what they are buying and give them a better product, a better price or just better customer service. Who knows 2010 might not see the Celtic Tiger come roaring back, but Hell this isn't the first recession we've seen and dare I say it, it wont be the last!

Mr Biz

Firstly.. A very Happy New Year to all & here's to a Posi+ive Decade ahead!!

I think 2010 is going to be the year of the expert. 2000-2009 was the decade of the amateur speculator and people rightly blame the rise of the amateur for a lot of what has gone wrong with the world's finances. In 2010 people will be more careful with their money and how they invest and they'll want to trust professional experts with their businesses and money than be impressed with flashy promises of easy money.

Agree Chowdown.. You can already see new trends and business ethics evolving.. It's out with the dead wood and in with "simplicity and clarity" as mentioned. Doing business will be "enjoyable" once again.. Everyone has to step it up a gear, focus and be creative.. The people I spoke with over the holiday period, yes, have found it tough over the last year or so but have regrouped, restructured and planned for a positive 2010 onwards..

I'm pretty confident and excited if i'm honest, that the next decade is going to be a special one.. Over optimistic???..Maybe..but there's no turning back now.. It's a case of focussing on what you believe in, determination and maybe thinking "Inside The Box" for a change!!

So here's to a positive outlook...What's Yours???

Mine..
* No Newspapers - shouldn't have time (except Sunday Business Post)
* No Newstalk - Primetime - Vincent Browne - McWilliams etc (((they'd give a Paracetamol a headache)))
* Be Creative + Focus + Believe = Success!
* Surround yourself with positive people
* Exercise/Gym = Healthy Mind
* Take mini breaks as much as possible..recharge those ideas! Muckross, Killarney + Fresh Air = Perfect!
* Omega 3,6,9 = lifts the mood & amazing for concentration!
* Treat yourself to a new PEN!!

Superman = You
Zod & Co = The Recession.....((1:25))..Superman thinks "Inside The Box"

Sposs

I'd be very optimistic for the year ahead , keep the head down work hard on delivering great products at a good price with great customer service and things will work out.