Finding Your Business’s Recession-Era Growth Opportunity
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Opportunity abounds in a recession, especially if you have the vision to see what others don’t, or the money to buy when others are selling. Think of Warren Buffett .
This type of opportunity in adversity can also be found at the medium- and small-business level. So today I ask — Have you spotted your recession-era opportunity?
As companies bite the dust, new opportunities are born for the entrepreneurs who survive. A great is Systemax, which in the last two years spent $44 million to buy the name rights and customer lists for two once-great, now-dead brand names, CompUSA and Circuit City.
The high-stakes gamble is paying off. Systemax is opening CompUSA stores again with updated features for the digital age, and is thinking about doing the same for Circuit City, which is . The company reports most customers are unaware the companies have changed hands — they just come in because it’s a name they know.
Think about the stores in your market or your industry that have busted. Did any of them have a loyal following? Could you pick up that ball and start it rolling again?
It’s a business graveyard out there…maybe there are some choice bones you could pick up at a bargain price and leverage to create new growth opportunities for your business.
Opportunity abounds in a recession, especially if you have the vision to see what others don’t, or the money to buy when others are selling. Think of Warren Buffett .
This type of opportunity in adversity can also be found at the medium- and small-business level. So today I ask — Have you spotted your recession-era opportunity?
As companies bite the dust, new opportunities are born for the entrepreneurs who survive. A great is Systemax, which in the last two years spent $44 million to buy the name rights and customer lists for two once-great, now-dead brand names, CompUSA and Circuit City.
The high-stakes gamble is paying off. Systemax is opening CompUSA stores again with updated features for the digital age, and is thinking about doing the same for Circuit City, which is . The company reports most customers are unaware the companies have changed hands — they just come in because it’s a name they know.
Think about the stores in your market or your industry that have busted. Did any of them have a loyal following? Could you pick up that ball and start it rolling again?
It’s a business graveyard out there…maybe there are some choice bones you could pick up at a bargain price and leverage to create new growth opportunities for your business.
