Innovation or Expiration - Challenges of Suriving in the Current Economy

Insights from Dean Akers, CEO of Ideal Image:

The entrepreneurial movement is what fuels our country

I have one goal to achieve by speaking to you: stimulate you to changes your perspective on your current situation. Look at all the current opportunities.I have been through five recessions and in each one, I have become more successful. People make stupid decisions in a bad economy. During a good economy, business owners will jump up to take credit. But during a bad economy, fingers are pointing everywhere else.There is one rule in Ideal Image: do what's right. When you're measuring your own successes against what your associates suggest, how successful will you be?

U.S. unemployment rates was at 8.9 % at the end of April. At the end of April in 2005, the unemployment rate was 5.2%. You as an individual cannot change the economy. You can only control or change yourself and what you are responsible for. You control your own destiny.
Entrpreneurs are the backbone of our economy. GM is like your grandmother who's had cancer for 40 years. Do you think there will be any great stories about GM leadership?

How much capital there is now? There is so much money out there through private equity and venture groups. The chief topic now is that the limited partners right now who are paying 2% aren't having their money's not being invested in anything. They're pulling their money out.
Private equity firms are starved for deals. If you need capital, you just need to put your shoes on and get in front of them. There is plenty of money out there for you as individuals. Control your destiny. if you are, all these external things that you think can or can't get done, will happen.

Take ownership of your own business. This economic climate fuels entrepreneurship. As you grow your business, "Create Intrapreneurs." Entrepreneurs do what they think is right. take the same philosophy and funnel it to your company. "Intrapreneurship."

The good news: Ideal Image is a totally empowering company. The bad news ... Ideal Image is a totally empowering company. Can you change the eocnomy? No. Can you change your competition? No. WHat can you change? Yourself.

Go back to your businesses and take a hard look in the mirror and say what can I do to be a better leader and empower my people and make a greater success of my company.


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