Economics & Business
“But I thought we were going into a recession?”
“The economy may be going into recession, but not my business.”
It’s a bit like asking why the weather is cool and damp when the trend of climate change says we should be hot and dry. Many small parts in the ecosystem may be going in different directions from the whole; for both the climate and the economy.
It doesn’t mean that we can ignore the general environment or that we will not be affected by it. But general trends and even short-term events in the economy may be completely disconnected from what’s happening in any particular business. Economics may not help to explain it and may be useless to predict what’s coming next.
It is important to be aware of the general environment as the economic effects on each business and community will inevitably arrive, but for the individual business it’s more important to focus on the risks and rewards that will have both an immediate effect and perhaps more significant long-term consequences.
Enlightened Entrepreneurs will keep their strategic purpose and plans in mind as they make decisions and initiate actions to address opportunities and threats one issue, one client, one customer, one employee, and one business partner at a time.
Let someone else try to manage the economy. And the climate. We can still do our small part within our businesses to make both better for everyone.
Be better. Do Better. Be an Enlightened Entrepreneur.
Del Chatterson, your Uncle Ralph
Learn more about Enlightened Entrepreneurship at: LearningEntrepreneurship.com Read more of Uncle Ralph's advice for Entrepreneurs in Don't Do It the Hard Way & The Complete Do-It-Yourself Guide to Business Plans - 2020 Editions.
Read more Blog posts at: LearningEntrepreneurship Blogs.