There’s a lot of alarming economic news out there! Just look at these headlines!
- More Americans are worried about inflation.
- Consumers are becoming substantially less confident about the economy.
- US economic growth to slow sharply with higher unemployment in 2023.
- More than 52,000 workers were laid off in the tech sector.
When you read those headlines, what story are you telling yourself? Are you more confident about your business or less?
Now, notice what happens when you read these headlines:
- Goldman Sachs chief economist puts the likelihood of a recession in the US over the next 12 months at 35%.
- Paul Krugman sees “soft landing increasingly plausible.”
- The US is past peak inflation.
Which set of headlines is more likely to predict economic performance? Which should guide your business planning?
It doesn’t matter!
While none of us can ignore economic news, and shifts in the economy can make it easier or more difficult for us to make money, we are not victims of the larger US economy.
10 – 20 good clients in a year are enough for most of us. There are certainly 20 healthy, growing companies out there that need what you offer. They may be harder to find, and you may need to work harder to earn their business in 2023. But the economy doesn’t control your business outcomes.
So, how do you keep your creativity and problem-solving genius focused on how to find those 20 healthy growing companies? (Instead of spending it trying to predict an unpredictable economy.)