With but the thinnest layer of protection, opposition set on maiming you swarms in at a pace that gives you only the briefest moment to make a decision.  Your window of opportunity closes quickly as you must hit a target no more than one square foot while on the run.

No, you’re not Jack Bauer… You’re an NFL quarterback.

Somewhere along the line, I read about the progression a quarterback must make in transitioning from high school to college and, finally, to the NFL.  In order to succeed, the quarterback must deal with changes in these four factors.

1. The increased size of the players (and, it so happens, the level of injury threat),
2. The speed of the game (imagine a 300-lb lineman who can close faster than a used-car salesman),
3. The complexity of the offensive and defensive plans (who knew Stephen Hawking designed game plans), and finally
4. The shrinking size of the target the quarterback must hit to complete a pass (high school – 5 feet, college – 3 feet, pros – 1 foot).

In recent discussions with business owners, these same factors have come to mind when talking about how business has changed with our shifting economy. 

1. The risk of being in business has definitely increased.  Our local unemployment rate hovers near 20% and we are smack in the middle of the foreclosure capital of the country.  Failed businesses line our main business districts.
2. The rate of change is faster than ever.  Technology advances open new opportunities (for both the business and its competitors), new products and services are constantly introduced, and banks have tightened their qualifications for small business financing.  Owners must pay more attention to what’s going on around them if they want to succeed.
3. The business and regulatory environment has become much more complex.  Owners must wade through complex health insurance regulations, labor laws, safety and environmental standards, municipal codes and regulations.
4. The margin of error continues to shrink.  Owners who succeeded “in spite of themselves” must now know exactly where to look for increases in efficiencies, new market opportunities, cash management strategies, etc.  They must pay attention to the details.

Over the past several months, we have had many opportunities to work with local business owners who have successfully weathered the toughest times and are now seeing opportunities open in front of them.  From our position, we have noticed that successful business owners…

• stay informed.
• use their advisors wisely.
• pay attention to details.
• know which things are critically important and closely monitor that information. 
• anticipate changes and plan for the future (both short-term and long-term).  
• stay fiscally fit so they are healthy enough to weather the tough times and take advantage of opportunities that arise.

In short, they act like a pro.