Summer is upon us. Yet, it's anything but idyll or carefree. At the moment of this writing, fuel prices are soaring, and floods and tornadoes are ravaging the Midwest, destroying people's lives and driving up the cost of food for us all.
I've been an avid consumer of news most of my adult life, but these days I find myself turning to the lifestyle and sports sections of the newspaper and changing the channel more often when bad news appears. Being a realist and seeing the world for what it is really are important attributes of success and sanity, but one can only take so much bad news without feeling the temptation to despair.
Fortunately, there are always two sides to any story, including a weak economy. I remember as a kid waiting in long gas lines in the late 1970s, another period of economic uncertainty and runaway inflation. What followed that period was the greatest economic expansion this country has seen, at least in the modern era. Like the weather, the economy is always in flux, and things will inevitably get better.
Seen from that vantage point, a soft economy should spell opportunity for healthy companies that have been investing smartly and squirreling away some of their profits for a rainy day, which has now arrived. I know of at least one major supplier who has taken this moment of opportunity to buy his partners out and reposition his company for future growth.
AMOA president Lloyd Williamson touched on this during our interview with him this month when he encouraged operators to remain positive and hopeful.
"I'm asking all AMOA operators, and even non-AMOA operators, to attend this year's expo in Las Vegas," he said. "Part of my message at recent and upcoming state shows I've been attending is: 'Don't buy into the doom and gloom.' Let others do that, and they will suffer the consequences. Instead, visit expo. It's a great chance to see new equipment, spend a lot of time with folks who do the same thing you do every day, and bring back some new ideas and information that can be put to work back home. Plus, everyone needs a break every once in a while, and for coin-machine operators, this is your annual chance to re-energize and enjoy, too."
Re-energize and enjoy. Lloyd's talking about the fall expo, but that brings us back to the topic of summer, traditionally a time to do just that. In tough times, you can't step away from the wheel for too long, but it's important to maintain some perspective.
Are you in business for the short run or the long haul? Have you considered other options for growth or taken a step back to better survey your strengths and weaknesses? Taking a moment for introspection and inventory may seem impossible for some, especially those who are overwhelmed by present circumstances. Yet it might well unearth the bedrock on which your company finds itself positioned five or 10 years from today.
Direct email to RePlay Magazine Editor Steve White.
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