This article is written and owned by Brad Sugars
No matter where you live in the world right now, the seasons are on the verge of changing. And, just like the seasons, the business cycle is changing as well.
Although the U.S. continues to work its way out of its “economic winter,” parts of the Asia Pacific are in full fledged “economic summer.”
Nothing lasts forever, however. Just as the season will inevitably change, so will economic fortunes in those regions experiencing either a “winter” or a “summer.”
For experienced business people, the ups and downs of the “economic seasons” are just part of the game.
But for those who have not used to the ups and downs of business, the current downturn in the U.S. and in different parts of the world is as unsettling as the current boom is in countries that have only recently begun to experience the “fruits” of development and globalization.
In some countries, “economic winter” has prompted policy makers to put up ever more walls and barriers to business, while in other countries, the promise of “economic spring”
and “economic summer” have prompted people who never would have thought about running a business to start their own companies.
I like to say there are no mysteries in life or in business, just information you don’t know yet.
And one of the best pieces of business advice is to understand business and economies rise and fall like the seasons.
That information can equip you for the next downturn and the next boom.
How?
By realizing that for every 10-month downturn (at least in the U.S.), the subsequent boom lasts an average of 50-months.
During an “economic fall” and “economic winter,” you’ll want to know your numbers inside and out, cut the costs you don’t need and look to create a leads generation program and marketing program that brings “A” and “B” level customers to your door.
Likewise, in “economic spring” and “economic summer,”
you’ll want to make sure your operations are “lean and mean” and use your profits wisely. In “economic winter,”
you are preparing to gain in the upcoming spring and summer.
In “economic summer,” you are preparing to ride out the downturn that comes with fall and winter.
As sure as the seasons change, the business cycle will, as well.
The market has a way of chasing out those companies, products and services that operate on the margins.
“Economic winter” – while brutal for those in certain categories and industries – nevertheless offers opportunities for companies that have prepared their balance sheets and mindsets for change.
More money has been made in downturns than have ever been made in a boom – and I expect that trend to continue as the U.S. emerges from its current downturn.
As the recovery starts to unfold, watch for signs of the next hot or over-heated summer.
That will mean the cool touch of fall is right around the corner.
It will also mean you’ll have the information and resources you’ll need to get through the winter, and prepare for the following economic spring.
—————————————————-
Brad Sugars is the founder and CEO of ActionCOACH, the world’s number one business coaching firm with more than 1,000 offices in 26 countries.
To learn more about Brad Sugars, visit
http://www.actioncoach.com/bradsugars/ or http://www.bradsugars.com
===========================================================
Did you like this? If so, please bookmark it,
You must log in to post a comment.