No matter where you stand politically, there is a feeling that we are living in interesting times. Where is the impeachment inquiry going? Are we on the way to recession? Is Joaquin Phoenix more creepy or genius? These are the questions that will define our age.
But they don’t have to define your business.
At least two of those questions could certainly have a big impact on the financial state of the nation. For business owners, it feels impossible to not prognosticate a bit, taking a guess at where things are going and imagining what that could mean for you down the line.
Granted, this is a fruitful endeavor for many businesses, but not all of them. I’m going to go with a general rule that if you are a big enough enterprise to have people who can afford to spend time on such issues, it is not a bad idea to have contingency plans in place for possible future events. If you are a smaller company where energies are best used elsewhere, though, keep them elsewhere. When you are in that situation, the best thing you can do is make sure your own house is in order.
When it comes to such future thinking we often get lost in ideas that don’t really have any data attached to them. We get a feeling of something that might happen, imagine it leading to a second incident, and keep spiraling until the first logical leap is lost in the miasma. The key here is that these flights of fancy don’t serve you at all if they aren’t backed up by something concrete.
So do you even have anything concrete to start from?
That is where the importance of having your house in order is highlighted. If you are keeping on top of your company’s financials, then you can actually tell when things change. If you do not have solid numbers from the beginning, then any decisions you make are being done on a whim and they will feel good if you like or want change or feel uneasy if you felt you just had to do something.
No matter what situation you are in, know that if you would like the comfort of knowledge in uncertain times we would love to help. If you do not have the foundation of good recordkeeping and reporting, we can get you started so you can start tracking where you are and figure out where you are going. If you already have a solid foundation, then we can help you analyze your numbers, track new ones, and keep you moving forward based on them.
Only with such diligence and planning can you be ready to react to outside forces if they do start to have an effect on your business. Beyond that, only with that diligence and planning can you know if those forces are having an effect on your business.
You hear lots of talk about how self-care is important and this is also true when it comes to business. Caring for yourself doesn’t only have to be done alone, though, so let us know if you need to get a better handle on things.
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