Low Optimism? Business Goes On

So the NFIB’s Small Business Optimism Index for November 2008 came out this week. And it’s ugly. Bleh. But business, like the show, must go on.

When last month’s report came out, we’d had two months in a row of improvement on what was an otherwise awful-looking downward chart. But for that short 2-month period things were beginning to look up — or so I’d cautiously pointed out.

At the time, however, I noted that we had yet to see the effects of the great October stock market meltdown and credit crisis. That little blip of optimism could change. Well it did. Now we see the impact of those historic financial and economic events, reflected in this month’s downward slide in small business optimism:

Even the normally optimistic William Dunkelberg, Chief Economist for the NFIB, seems a tad worn down by it all, writing: “Unfortunately, two months of improved optimism did not start a trend, owner optimism plunged to heavy duty recession level readings in October.” He ends with: “Good luck, America, we’ll need it.” (Hey, don’t hold back, William!)  

Look, I know things don’t look bright. But I have a little something to say to you all.

In a strange kind of way, even this news about lowered optimism should be motivating.

If your small business customers have slowed their orders, know that you’re not alone. If your sales team’s confidence has been flagging, know that other organizations are probably feeling the same way. If you are having doubts about the quality of your company’s products, know that it may not be a product problem — other forces bigger than your company may be at the heart of it.

Economies run in cycles. Hang in there. Be creative. Redouble your efforts. Don’t let doubt gnaw at your confidence. Get out there and sell.