What Recession?
"There is a silver lining to the dire prediction, however, since Goldman projects the economy will recover as soon as 2009, making this downturn somewhat "recession-light."
"The recession is likely to last two to three quarters and should be relatively mild by historical standards, with a cumulative decline in real GDP of only about a half percent," Goldman economists' Jan Hatzius and Ed McKelvey said in a research note.
A recession is when the economy shrinks for six straight months, reports CBS News correspondent Anthony Mason. The last time that happened was 2001 after the dot com bubble burst. "
While this may end up being the case or not, here's my humble perspective regarding the businesses with which I am working these days.
1. They are all in hiring mode right now.
2. They are investing in new technology, systems, and marketing. They are in rampant growth mode with the opportunity to expand revenues by as much as 50% over the next twleve months.
3. They are prepared for battle. What I mean by this is that they are well-planned and organized small businesses. They understand their competition. They can articulate their competitive advantages.
So how is your business prepared for 2008? Is your plan an effective plan? Has it been communicated effectively to everyone in your organization? And are you ready to expand? (There's an old saying that too much growth, too soon, can paralyze virtually any business.
Also, remember one very important item when reading or hearing bad economic news in the media. The mainstream media, I believe, wants us to be afraid. Why? Fear sells.
As alway, warm regards.
Cliff Jones-president, WealthNet Business Coaching, LLC
Post a Comment