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electricity. we are allowed a lower rate since we don t take electricity after 1:00. after 18 months in the red, shugar soapworks is profitable again. while he expects to more bumps in the road ahead, shugar feels confident that because he survived this he can handle almost anything. i believe i walked through the fire and i made it to the other side. you know, i believe it made me stronger. really, i m glad it happened to me. i m glad i m able to sit here and talk to with a smile on my face saying we made it. we made it. as we ve seen to stay competitive in this challenging economic market, many entrepreneurs are being forced to have a backup plan. and when a company need to change on a dime, so do its employees. our next guest has tips to help your business stay reinvention ready. pamela mitchell is the founder
so you want to actually let it run. and do you feel that most people come to you and your institute when they re in crisis mode or yes. they do. yeah, they do. and then they ve got all the pressure of trying to earn money. you know, where should my businessing heading, all of these things. it s much more difficult to reinvent yourself when you re in that mode as opposed to thinking of it on an annual basis and putting mini reinventions in place. is it more of a big invention for your company or a series of small things? i think the myth of reinvention is that it is a wholesale change. in actuality, reinvention is about changing and tweaking your company to move with the market. no, it s not a big wholesale change. you want to look for the little things that can open up to something major down the road. i think that great and a great thing for people to remember. again, as i said, so it s not so overwhelming. so it s toage. it s doable. thank you. great advice. thank
you don t have to reinvent anything. you don t have to invest that much. you already have the space. maybe you have to build it out a little bit. they partnered with people so they ve got those investors in essence. it seems really smart to me also. like it. me, too. sometimes changes in the marketplace force an owner to reinvent his business. that was the case with one manufacturer who lost his biggest clients to overseas competition. he went through some rough times, but in the end, he was happy he was forced to change. soap and water hang my heart on the line dan still shudders when he remembers the phone call that almost toppled his company. it was a shock, if you can imagine, with the phone going what just happened. i remember it being that. i remember turning to my wife and saying, you know, what are we going to do. what happened was his soap manufacturing company, shugar soapworks, lost its largest customer to a china-based competitor. we were realizing we we