What will a COVID-19 economic recovery look like? I don’t know, but I do know this, there are three economic fundamentals that are strong indicator that a recovery could be quick and strong. First, we have strong Macro-Economic indicators such as low tax rates, reduced regulatory compliance costs, a huge private sector investment capital pool, and a strong focus on supporting US production and business. Second, we have a huge economic stimulus package that infused liquidity into the economy at unprecedented levels. This stimulus package directly benefited consumers and businesses alike. And, third the FED has a huge liquidity program for business and bank financing. All these point to a strong economic foundation on which to rebuild the economy quickly. So, is your business ready to take advantage of the opportunity, or are we still tending to wounds inflicted by the crisis?
Now is the time for every business to Re-Think & Re-Plan. All businesses have experienced some degree of disruption through the Coronavirus pandemic. But now you should be preparing your business to capitalize on what you’ve learned and plan for a more profitable future. Whether your business experienced increased revenue and profit or if it suffered from lost clients and forced closures, as we reopen this economy you should be Re-Thinking your Strategic and Business plans. These plans were previously developed to guide you through 2020. The world started to change in January, and we’ve been in a crisis reaction mode ever since. It’s important to take the time to position your business for near and long term success. It might look different but be sure you develop strategies and plans that make it more successful.
There are three factors that should be considered, because they specifically influence the success and failure of every business. Those three factors are Market, People and Capital. Analyzing businesses for over 40 years I found that every success or failure can be attributed to one, or more, of these three factors. I’m going to bet that one or all three of these were significantly impacted in your business over the past six months.
Download this free webinar to learn how to address these three factors in a process of Re-Thinking and Re-Planning for your successful business future.