“4 OUNCES OF ADVICE”
Across the country August has been a very slow month. I have listened to both political parties complain about the unemployment rate and how bad everything is in the United States. What the politicians are not looking at is the amount of everyday commercial activity that is going on. Politicians tend to lead by fear not optimism.
An unemployment rate of 8% is really a change of 4% from a “good” unemployment rate. In making business decisions you should remember that 92% of the work force is employed. The change from “bad” to “good” is 4%. What does 4% really mean?
In an 8 ounce glass of milk it means a few drops.
If your car gets 20 miles to the gallon, it means you would get only 19.2 miles to the gallon.
In a 16 oz. steak you would get a 15.5 oz. steak.
If you salary is $1,000,000 per year, you would get $960,000 per year.
Everything is relative. Consumers still must eat, buy gas, and send kids to school. Business must buy supplies, governments must function, garbage must be picked up and roads must be repaired.
Businesses must be adaptable to changes in the economy. When fear rules your decision you will always be behind the curve in the economy.
Supply side and demand side politicians all forget that one without the other fails. Business will not provide an increase in supply until there is demand. Demand without a supply of things to buy has nowhere to go.
So in making decisions, take the long view. Where do you want your company to be in the next 6 months, 1 year, and five years? There is always risk. Knowing and understanding the risk results in good decisions. Not anticipating risk and not realistically appraising it will always lead to bad decisions.
Remember, business enables life, it is not life. No one will note on your tombstone, how much money you made or how many days you worked late. Your passing is measured in the prayers and tears of a grateful and appreciative family. Use your time wisely.