Recession, Recession - The Sky is Falling, The Sky is Falling

The talk about ‘recession’ has many owners rattled. Most of you reading this own small or medium sized businesses and by corollary have a small share of the markets you serve. If the overall market you serve shrinks by 1% it will have very little effect on your ability to expand. Your growth, or lack of it can’t be attributed to the overall economy. In fact, many segments do just fine in a ‘recession’, comfort food and healthcare to name just two.

Many companies are recognizing today’s great opportunities to hire cost-effectively, to start building new relationships and new markets, and invest in production facilities. They can do this while their competition is hunkering down cutting costs, reducing staff, and shelving growth plans.

Opportunities come not only from growth but also from change. The WFH phenomenon has reduced costs for many companies (reducing GDP) but it has caused companies to invest heavily to accommodate the change. Zooming to meetings rather than flying decimated the travel industry (and reduced GDP) but has allowed companies to hire and sell anywhere in the world in seconds. Even though fewer cars are being sold (reducing GDP), the number of EVs being sold is skyrocketing creating lots of knock-on opportunities.

So the sky isn’t falling. In fact, the world remains full of opportunities – if you know where to look.

What big opportunities are you going after in this last half of 2022?