|Economic Recovery |
It's late July of 2003 and the news is coming in from several sources: Our economy has been out of recession for the better part of a year. Tech stocks rose 30% in the last quarter, housing starts are up, and consumer confidence is rising.
Larry Brickman, of Bank of America Securities in New York, says "It looks like the economy seems to be finally on track.Ē
But what does all this mean to us?
Basically, the economy rests on the exchange of dollars. More dollars changing hands means more dollars flowing from company to company, creating cash flow and that brings economic growth.
What holds companies back from spending is fear that what is spent will not come back in reciprocation from other companies. This is why all the focus is on consumer confidence.
Although no magic bullets exist that can bring a company to the forefront of economic growth, this much is certain: Companies that look for ways to position themselves for better market share during down times are those that reap rewards during up times.
My challenge to every business person is to re-examine your current market position and develop key strategies. As the economy starts to pull ahead, you donít want to get left behind.