Plain Talk Look for the Silver Lining Business across the board remains fe real sluggish with . few exceptions. Is] ‘ there a bright side to real sluggish? Like | most things in life , — ‘| there is. Of course it all depends on how you look at things and what you may or may not consider to be opportunity. Now keep in mind we all understand sluggish business means slower and much smaller money. “Pining away” wishing that business would just pick up and complaining about how much money isn’t being made is not evaluat- ing options and opportunities, it’s “bitchen,’ nothing more. Being slow has given me _ the opportunity to make a few more cus- tomer visits than usual. I want to share a circumstance I saw this morming. My customer is a family-owned shop that’s been around for 20-plus years. Typically the business has been a real money machine, primarily due to the incredibly hardworking owner/operator. Further, they have been blessed with a huge industrial market with little to no competition. Because of these circum- stances, for years my rebuilder has had virtually a blank check from his cus- tomers. Since comparison or price competitiveness has never been much of a factor, he has always been able to charge what he needed. How cost effec- tively the work was being done in his shop has never been much of an issue. So now we’re midway through the 6th month of the doldrums—a period that will redefine slow for most of us. My rebuilder buddy has a crew that when asked to perform at a higher level feel as if they’re being wrongly pushed, overworked and taken unfair advantage of. During better times my rebuilder purchased all his automotive and a bunch of imports. You see, he seemed to be too busy to fool with units he could buy so economically. Maybe at that time that was a good route to follow. However, today the circumstances look much different. While in his shop today I saw some- thing some might find “tilted”? There was not one customer unit to be done. The primary stock was all back on the shelf so theoretically there wasn’t squat to do. The exchange cores from units they just bought and sold were stacked up to the rafters. I suggested they rebuild these cores and put them in stock. The owner and his foreman both contested, then said the units I was referring to could be purchased cheaper than they could work on them. I said to both of them, “How could that be, you have nothing else to do with your time. There isn’t job one in the shop. You might as well fix up some stuff for sale rather than spend dollars you currently don’t have.” Again they replied they just didn’t see it that way and they were going to continue to buy units. I hope my friend will eventually break his routine and take advantage of the slow time and evaluate his actions. It’s mighty costly having his top rebuilder be philosophi- cal rather than productive. Sometimes old habits will bite you in the butt. When time and circumstances change we need to also. Looking for the silver lining is not waiting for things to revert back to what they formerly were. Things will never be what they were again. Those days are over. Looking for the silver lining implies research. Take advantage of the slow time and look and listen to all the circumstances that sur- round you. All those things that tend to be invisible when times are busy. If you were going to be divorced and community property was an issue, the court would order a professional auditor to come in and do a business evaluation. This would determine the salable worth of a business at a given date. The pur- pose of this is obvious so I won’t go into it. However, the process and outcome is sobering. I would highly recommend that everyone serious about remaining in business have this evaluation done. Take good advantage of the slow time and evaluate your business. If you can’t afford an outsider you can do a bunch yourself, although to be successful you will have to chronicle your findings in such a manner where someone outside the business would understand what’s going on in yours. For the sake of your own clarity this is the only really good way. A simple business evaluation is not much more than this: ¢ (Past) Determine what you’ve done and how it was accomplished. Who-what-why-when-where- how much. ¢ (Present) Appraise how things are going now (profitability). Who- what-why-when-where-how much. ¢ (Future) Forecast what you think will occur based on experience, trends, and present demands. Do previously set goals and forecasted sales look realistic for the future? Will =the who-what-why-when- where-how much that you’re cur- rently committed to work down the road apiece? No matter how gloomy and overcast it may presently look for you, the sun is shining somewhere. It’s our job as small business folks to move toward that sunshine and find our own silver lining. Rob Buksar is owner of Hoosier Electric Co., Gary, IN.