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Monday Morning Jumpstart #8; Building A Business In A Recession

Posted By Michael Roby | Monday, April 30th, 2012

The economic numbers reported recently provide a dim picture of where we truly are in the economic cycle. Some of the news last week included:

  • Jobless Claims Remain Elevated
  • Fed Sees Economy Improving
  • Companies See Slower Growth Ahead
  • Middle Class Jobs Coming Back
  • US Companies Betting Big In China
  • Gas Prices To Keep Falling
  • The Poor Stay Poor
  • Don’t Blame The 1% For America’s Pay Gap

To make this worse, these headlines all came from the same source (CNNMoney 4/26/12)!  NO WONDER ADVISORS ARE CONFUSED, TO SAY NOTHING OF THEIR CLIENTS! So what do YOU do? Who do YOU believe? And WHAT DO YOU TELL YOUR CLIENTS?

  1. You cannot predict the markets. NOBODY can!
  2. You need to do what you can do. There are ALWAYS opportunities.
  3. YOU are the person to help them.

Keep it simple; there are some time tested, basic principles that are ALWAYS true.

  • Companies have to make money to stay in business and grow in value.
  • In healthy economies, people save money. Clients are well advised to save 10% of what they make.
  • It always makes sense to reduce taxes.
  • You insure risks which seldom happen but have catastrophic costs.
  • You use diversification, asset allocation, dollar cost averaging, and other techniques to reduce risk & maximize opportunity
  • At the end of the day, the government can’t save you. It’s up to YOU.

Keep pushing; continue to strive! CLICK HERE to read an older article to remind you of the fact that some tremendously successful businesses were started & survived tough times.

Work Hard & Have Fun!

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