I had lunch with an old friend this week that is looking to start her own company doing consulting work. She is really excited about this new adventure and it was easy to get excited for her. She has done her homework and knows what she is getting into. The business plan is well written and looks not just at the upside potential, but acknowledges the challenges and how she will overcome them. I was impressed.
With the economy being so uncertain, many people might shy away from leaving a secure position and starting something new. But I think a changing economy is a good time to launch a new concern. The bigger firms are consumed by responding to banks, customer’s financial issues, vendor issues, and other non-productive topics. But if a start up is smart with its cash flows and takes into account how to work within the new uncertainty, there is room. A start up is ultimately more intimately involved with its true customers wants and needs. And should respond quicker to those wants and needs.
I know that every day at the Lafayette Puzzle Factory we think about how the economy is impacting those who would buy our goods. Puzzles are traditionally a good activity during tough times. People stay home more and are looking for activities they can do with family and friends. Puzzles are a very good value. For under $10 and entire family can spend multiple hours with each other. There is good conversation, laughter, and time to reconnect. There are very few other options available to families today for that type of return on their entertainment spending.
We have worked very hard to create puzzles that meet the financial needs of the retailers and our end consumers. We meet that financial need for both by pricing our puzzles correctly and making sure they offer outstanding value. Today, with more and more people looking for quality affordable entertainment, we work even harder to provide it.