Fourth Quarter 2009
2009 Was a Good Year!
Clients and friends, I know for many of you this has been a challenging year. It certainly has been for OlenderFeldman. The old adage that “what doesn’t kill you, makes you stronger” is, I believe, all the more applicable to business. We all know and have experienced in one form or another the hardships that 2009 delivered, so I thought in the spirit of a new year, here are the top ten good things that 2009 may have brought:
- The strong survive, and get stronger. We have witnessed opportunities for clients in many industries expand exponentially as their weaker competitors foundered.
- Frugality breeds efficiency. Companies have refined their processes to ensure that every dollar spent delivers the maximal bottom line result.
- Talent rises, dead weight…doesn’t. Revenue constraints have caused companies to weed out under performers and promote talented employees. End of the day, a leaner, smarter, better company.
- Deals-a-plenty. There has never been a better time to demand, and get, a better deal on everything from paperclips to office renovations. If you had money to spend, this was the year to spend it.
- Low interest rates. For those able to obtain credit, cheap money.
- Loyalty is priceless. Many companies discovered that their relationship with their employees transcended the paycheck. It goes to show, a loyal employee cannot be bought, it is earned, and once earned, is priceless.
- Surprise credit. For those unable to obtain credit from financial institutions, vendors and suppliers rose to the occasion and extended credit to their valued and long term customers. Cheap working capital and a valuable relationship further cemented.
- Reasonable landlords. It sounds like an oxymoron, but more landlords were willing to renegotiate leases to retain tenants than ever before.
- Taxes. They are lower today than they likely will be tomorrow!
- Sell it, and buy it back, CHEAP. One of my favorites, sell high, buy low. For talented entrepreneurs, there can be no greater accomplishment than selling your company, only to buy it back at a fraction of the cost. It happens.
So, on the brighter side of business, thanks to everyone for allowing OlenderFeldman to assist your company in achieving its goals. We wish you a very HAPPY NEW YEAR and look forward to a more prosperous 2010.
