Alice in Wonderland – How is Her Economy

Alice in Wonderland – How is Her Economy

February 25th, 2010 | Author: Guest Blogger

If Alice in Wonderland were an entrepreneur, who would she invite to her tea party? First, there would be the Mad Hatter, moving from one seat to the next, drinking tea and spending money every which way. But it’s hard to tell if that’s real money or just more debt.

Then there’s the Cheshire cat, smiling brightly because he knows the way out of recession, but like the economic recovery, keeps fading in and out of view. Commercial banks are happy to come to tea, but they are hard to pin down when Alice asks them for a loan. And where is the Consumer in all this? In the teapot of course – like the Dormouse – trying to avoid more taxes and ever increasing health care costs.

What is Alice to do? At the table over the past few weeks are some thoughts from entrepreneurs about the current economic conditions that are worth reading. Many of them agree – “money is the biggest challenge”. But they suggest this is not the time to give up your dream. Downturns often create opportunities. They say: “Study the landscape to make your product better or different from the competition”. And “price your product appropriately”. Use technology to grow if you can’t expand your staff. Mushrooms may work for Alice when she wants to grow, but the real world requires hardware and software. “Get systems in place to guide everyday tasks.” Then you can manage the work flow and your future growth.

Remember to keep everyone in your organization “on the same page”. These entrepreneurs have a lot more to say and it can be found here in the “How to Succeed” section.

Alice in Wonderland has an easy way out thanks to Lewis Carroll – she can just wake up! But the rest of us need to come up with something more specific to get out of this economic rabbit hole. Hopefully the advice from these entrepreneurs will help.

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About the blogger: Alice Krause, former Deputy Executive of Chase Bank’s retail businesses, is Founder of the award winning NewsonWomen,com, a daily news site that focuses on women’s achievements. News on Women reports on what women are doing in business, education, science and technology, philanthropy and the arts.