Healthy Economic Outlook Ahead
Time to get back to business. Hope everyone had a great holiday and is ready to work. The two times a year that I take a deeper look at business trends and economic forecasts are at the end of the year and at the end of 2nd quarter. End of the year is more a reflective time for some reason, like after the game. End of 2nd quarter is like taking inventory during half time while there's still time to change the results before year end, mid game.
No one that runs their own business, or is directly responsible for one, can ever really take their mid off the game. Sure you might go on vacation and spend time with your family, but you just can't help thinking about what you have going on. Sometimes it helps to get disconnected, a fresh perspective, see from a different angle and get some rest, but successful people rarely take their eye off the ball if ever. You love what you do and you know your competition is constantly grinding. So while relaxing, I try to take a closer look at what my competition is doing right and measure what's working for me.
One of the things I do at these two points is look at the big picture. Reading through economic forecasts for different industries and countries can give you great insight to why your efforts aren't measuring up to predictions or worse, the numbers are climbing up and you have no idea why. According to The World Economic Forum, Forbes and The Balance to name a few, the economic outlook for the US is strong and set for steady growth.
No matter what business you're in, investing in yourself is never a bad choice. Educate yourself, educate your people and increase the advertising budget. Hope you are off to a great year, game on.