Thor Schrock

Some of my friends have questioned the wisdom of expanding Schrock Innovations and hiring so many new people when the news on the economy is so dire.

I am by nature an optimist - often to a fault.  But I believe that this recession is going to be the single greatest thing to ever happen to my company and here is why.

1. Inflation is coming - fast.  Now is the time to buy everything.  The Obama spending spree (whether justified or not) will have to be paid back - and that bill will come due soon. Your dollar is as strong as it will ever be in the next 20 years, so spend them now to get the things you need to scale up your business and beat tomorrow's inflation.
2. Build Your Staff Now.  People are losing their jobs now and the happy-go-lucky days of landing a $25 an hour job with no degree are gone for now. As a business owner this is an opportunity to thank you staff with less valuable, but more frequent rewards. 

   Your people are your biggest asset, so make sure they stay where you want them - in your employment!

3. Grow Explosively.  This is seemingly counter intuitive, but right now everyone expects everyone else to be on the ropes. If you can create a real situation that allows you to grow explosively your competition is likely to stand by and watch rather than react. 

   When the economy gets better you will be in a dominant position.  Now is the time for people of courage to act!

4. Remember to Give Back.  This is not a post designed to hammer the Obama administration (although you should know how I feel about the guy by now), but it is a fact that tax deductions for charitable contributions are going to be reduced, and that means people will give less to charities that are doing important work. Find a way to give something back to your community in these tough times and you will build relati0nships and networking contacts that will serve you well for years to come.

For many people (especially those in places like Michigan) this recession is very real and very scary.  But even in places as troubled as Michigan this recession is creating opportunities.

The business leaders of tomorrow will be the ones who see those opportunities and position themselves to take advantage of historic times.

As Obama's Chief of Staff Rahm Emanuel would say, never waste a good crisis. (Sorry Obama lovers...  I had to get one more dig in there)