My fellow AllBusiness.com blogger, Tim Berry, recently appeared in Anita Campbell’s Small Business Trends, writing about economic dark clouds. Tim, like me, has been through a few business cycles, and watches warily when he reads headlines over his morning coffee that say, “4-Year Growth in Jobs Ends”, and “Rate of Home Foreclosures Hits Record.”
It will depend on what business you’re in how much the current economic situation will affect you. If you are in anything related to real estate, the pain is no doubt acute. But as Berry points out, “With some notable exceptions, your business moves up and down far more because of very-micro specifics of what you and your team and your customers do. Your specific marketing programs, your new product release, your email campaign, your pay-per-click keyword decisions, your product development, your word of mouth … it’s what you do with your business that moves it up and down, not what happens in the headlines.”
Sure, keep your eyes on what is happening, and run your business as wisely as you can. There will occasionally be scary events over which you have no control. Berry is philosophical, saying:
I don’t know about you, but for me some measure of future fear is a good thing. As president of a small company, being fearful is part of my job.
And then he finishes his coffee, checks his email and gets back to work.