Be Proactive, Not Reactive
First quarter GDP growth was revised down from an initial 3% to 2.7%. Unemployment remains high. Access to credit is still a problem for most businesses and consumers. Despite the government saying inflation is at its lowest levels in decades, my raw material costs are going up. I don't think anyone understands the potential economic impact of the oil spill. Boy, it's a great time to be in business, isn't it?
Of course it is! If the events of the last couple of years have taught me anything, it is that there are a lot of things beyond our control. Nothing we did as a business could have prevented the financial crisis and the resulting recession. Yet, this recession has had a tremendous impact on how we operate our business. We had to adjust our plans during the downturn. Being reactive isn't fun; I want to be proactive. I want to succeed regardless of the macroeconomic environment.