Many economic gurus are speaking the "R" word-recession.
According to them, various economic indicators seem to show that it's on its way, if not here already. It has been about ten years since our last recession in the United States. For the most part, the U.S. economy has been strong and business has been good for the last decade. However, the fact is the economy goes through cycles and even if we don't see a full-blown recession-business is slowing for many people. Unfortunately, every time it takes a downturn, the fallout is felt strongly by salespeople, business owners, and professionals alike. According to the American Entrepreneurs Association (AEA), over 50 percent of all businesses go out of business within two years of opening their doors. This number is known to increase dramatically during a recession.
Successful business professionals learn from the past.
In the early 90's, right in the middle of a nasty recession, I was at a business mixer in Connecticut where I was meeting many local business professionals. It seemed that everyone was feeling the crunch from the slow economy. Throughout the entire event, the favorite topic of discussion was how bad the economy was and how things were getting worse. The whole affair was depressing, because nearly everyone was obsessed with the problems of the economy and its impact on their businesses.
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ALSO IN THIS ISSUE
Sprout an Idea Seed
A seed is such an interesting thing. It emerges as a soft, fleshy issue from the parent, then morphs into a dry, hardened kernel in order to withstand time and travel until the day when its purpose in life, germination, begins.
Think of it: A tiny kernel of wheat can become the staff of life. An acorn, no bigger than your thumbnail, holds the genetic code and capacity to grow into the towering organism that has become our metaphor for strength, the mighty oak tree.
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