Economic Uncertainty… What To Do, What To Do?

As summer winds down and attention focuses back on business, the subject on the minds of business people continues to be economic uncertainty. We lived in a world of prosperity for such a long time, prior to 2008, that many of us forgot that the economy moves in cycles.

The Vistage economists, Brian and Alan Beaulieu from the Institute for Trend Research tell us the next recession is not until Q3 or Q4 2013 and yet, any softness in the economy is read by the general press as a beginning of a recession. In some cases, the perception exists that the recession of 2008 continues, despite results that prove otherwise.

So what’s my point?

While macro-economic factors will impact all businesses, what matters most is what we do each day. One of my Vistage CEO members who owns a commercial construction business said it well. When asked the reason for his success during the real-estate debacle, his answer was simply, “While we are one of the largest privately held businesses in our industry, we do business nationally. We are a small % of the overall construction business in the country and therefore there is and was plenty of business out there for us. Our team recognizes this opportunity. And every day, we deliver world class service to our current customers and continually focus on acquiring new ones.”

  • What is your story of prosperity?
  • How are you benefiting from the current economic uncertainty to gain an unfair advantage in your business?

Elisa K. Spain