The Facts of Business Life: What Every Successful Business Owner Knows that You Don't

Chapter 8

Fact 6: The Marketplace Is a War Zone

The Marquis of Queensbury Rules do not apply in free markets. Competition for customers and their disposable income, that is, their money, is the order of the day—every day. So if you’re an owner of a small or large business, an entrepreneur, or an investor in any of these enterprises, the law of the jungle applies. And that means you have to be strong, smart, and agile, or die. The reason it’s this way is that the marketplace is finite, meaning there is a limited number of customers and money to be spent. And it’s these customers, and their money, who will determine your fate. It’s not a friendly battle, the stakes are high, and the difference between success and failure is as distinct as night and day. If you don’t understand this concept, or don’t like the idea of it, business ownership is in all likelihood not for you. That’s just the way it is. The marketplace is a war zone, and the battle never ends.

If you think I’m overstating the situation, think about the last recession. As of this writing, the economy seems to be starting slowly back on the road to recovery, but there’s been a lot of damage done. Home builders, car dealers, banks, financial brokerages, real estate brokers, and other businesses have had to close. Literally every industry has been affected in one way or another. Because potential customers have limited disposable income, businesses find themselves competing for sales not only within their own industries but ...