We've seen a once in a century boom. Baby boomer driven, add to that unlimited credit, prices and wages have blown out. The reality is that it's gone and will never come back to that peak, as we don't have another baby boomer cycle in existance. The sooner we accept this the better we can deal with it. In our business peak period
is October to Christmas we didn't have one, we were fortunate though we got enough sales in a 2 week period to be able to manufacture till christmas. Come christmas I was stressing what was going to happen in the new year, I was doing some research and stumbled on, estimates were, that due to the credit boom prices were around 30% higher than they should be. Thinking on this it made sense in relation to us, during the boom we could name our price people would use their equity or some form of credit to pay us. Now that has changed credit not easy to come by so they are having to use their savings, which now makes them think twice and they want value for money. So what I did was drop our prices 30% and we haven't been able to keep up with our sales, are we profitable? not much. But we know we've hit price point , slowly getting our suppliers and labour costs down and improving efficiences.
How this relates to WL's I don't know. All I know is that the real problem is not the economy. What has changed
is people's psyche, difference between boom and recession cycles is whether people are optimistic or pessimistic. At the moment there is more money in savings than there has ever been before, people are reluctant
to spend as they aren't optimistic of the future, have a look at yourself see if your spending habits have changed
and why. Sorry about the long winded essay. The solution! when everyone else is pessimistic be optimistic,
don't worry about the money just keep improving your services or product. For us it's just get people to see us
build friendships if they don't buy today they'll buy tomorrow if we were good and polite them and have the best value for price product .