It’s getting hard to “keep the faith”, I know. Our economic problems overhang everything, and is on everyone’s mind. State tax revenues are in a free fall, and, hamstrung by short-sighted “balanced budget” restrictions, the slashing has begun in earnest. Slashing, of course, that only compounds the problems.
Suzy Ormond was interviewed on NPR this morning, and her advice was, to me, generally conservative in approach. Much of it was not new – which, of course, was the beauty of what she was saying. Make a plan, execute, keep moving forward, weigh risks with an eye towards the future.
This approach holds true in business as well. It is one thing, as the late entrepreneur Jerry Zucker said, to be fearless in business. It is quite another to be reckless.
Pay attention to what’s going on. Listen to your staff, also – what’s going on with their spouses? What about their neighbors? What are your patients telling you? Are people asking for payment plans more so than in the past? Do you have sort of policy and guidance for your staff?
Well, the weekend is here. We all know that rest is important to our ability to perform our best. You’ll return with a renewed sense of purpose and drive to forge forward.
Next week, you can work on your plan – or work on developing one, if you haven’t already. We just need to hang tough as long as possible. Keep your plan up to date, revising as events unfold. My unscientific advice: plan on things being less than stellar for at least the remainder of the year. If the economy turns sooner, then you’re in stronger shape.