Economic lemons to lemonade!? Alaska businesses must look a business plans as Lower 48 faces economic downturn.

• Author: Swingle, Scott
• Position: SMALL BUSINESS: ABM Celebrates Small Business in Alaska

After one of the longest and strongest growth periods in U.S. history, we are now facing the reality of the age-old saying: "What goes up must (inevitably) come down!"

The tricky part is accurately predicting how far down and which markets will be most affected.

Turning on the TV, paging through a magazine, glancing around at a busy stoplight--leaves no doubt whatsoever that the average American became very comfortable in the past few decades with their conspicuous consumption during this historical period of U.S. economic growth.

Many forget, or just choose not to notice, that in the world market, the U.S. has traditionally been a leader in spending. Until recently, the repercussions of our spending habits have been mild because, generally speaking, the dollar has been relatively strong. Though we are familiar with minor economic blips, many of today's business owners never experienced a real recession and their successes have been based on our booming economy along with the notion: "Build it and they will come."

I recently and fortuitously sold our home to a very successful car salesman who joked that there is a "butt for every seat made." Perhaps that brand of optimism is the key to his sales success.

Such confidence, however, is only part of the equation of success in this new era for the American entrepreneur. For most small businesses, an economic slowdown heralds a harsher business environment in terms of profits and it also brings increased competition as companies face shrinking demand for their products while attempting to maintain profitability.

Consumers, both domestic and abroad, are going to look for opportunities where their currency goes the furthest. Our friendly neighbors in Canada are enjoying one of the highest exchange rates to the U.S. dollar in years.

The result, U.S. goods, real estate and services are more fiscally appealing abroad than ever before. Opportunity is around every corner although it might be a little farther away and more elusive than the popular "Flip That House" mentality of the past few years!

Succeeding in an international market is more complex, more challenging, but it might just be the key for making lemonade out of our economic lemons here in the U.S.

Now that the real estate bubble has burst in many markets, Americans are facing a reality that the enjoyment of simply living in a home and gleefully watching it appreciate in value is a thing of the past. Fixed incomes cannot keep pace with the...