Monday Morning Jumpstart #8; Building A Business In A RecessionPosted 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?
- You cannot predict the markets. NOBODY can!
- You need to do what you can do. There are ALWAYS opportunities.
- 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!