Think Beyond Your Means: December 2009/January 2010 Letter From The Editor

We, as a company, have been going through many of the same challenges our readers have, and as we sat down to plan this special year-end/new-year issue of The New York Enterprise Report, we decided to focus on what is on everyone’s mind—how to do business in the 2010 economy. The economy is stagnant at best and, well, I don’t have to tell you what is going on in the media business. At the same time, many things are going great. Reader feedback has never been better, and our advertisers are re-upping and opting for more in 2010. But in 2009, we had about the same revenue as in 2008. So while we probably out-performed many other media companies (on a percentage basis), it was the first year that we didn’t grow. That scares the crap out of me.

Are we stuck? I don’t think so. We have a pretty good plan for significant growth this year. But I can see how companies do get stuck—particularly after a good year. In 2009, many companies cut back on expenses and staff to survive. When that happens, owners end up talking themselves out of new opportunities because they know that their organization cannot handle the additional stress. And, at the time, those are usually wise decisions.

But that can put you in a very defensive position. Defense is good when you are back-peddling (through a recession). But, as Peter Drucker said, “We have to accept what we all know to be elemental—that taking a defensive position can, at best, only limit losses. And we need gains.”

Here are some of the things you might hear in your office (and your head!) that can indicate that you are constraining your growth by thinking within your means:

“We can’t do that.”
“We don’t have the resources.”
“We don’t have the capital.”
“How would that be possible?”

If left unchecked, the defensiveness behind these statements can result in you leaving hundreds of thousands, if not millions, of dollars in value on the table. Instead, just as there are no such things as stupid ideas, there are no things that can’t be done with your company. First, you need to believe that to be true, and then make sure your staff gets it, too. So if you hear them say, “We can’t do that,” tell them not to worry about doing it; just give you a plan. Then, as a team, figure out how to get it done.

Still not convinced? Consider this: most of the readers of NY Report are the founders of their businesses. I can assure you that, as a founder, you took on greater risks and much tougher challenges when you first started. You thought beyond your means before. Now it is time to do it again.

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