Now is the Time
How healthy is the economy at the midpoint of 2019? The answer depends on who you ask. While some suggest that consumer confidence is on the rise, others cite consumer debt as a massive bubble about to pop. Some say manufacturing and exports are up, some say only in certain sectors. Some say housing, lending, and retail are on the rise, some say that’s an illusion. Some say the stock market is booming, others say look closer.
In other words, we’re at a point of influx and uncertainty right now, especially because major influencers (like trade wars and corporate bankruptcies) are not one-and-done events; these things tend to have lasting ripple effects that extend to every corner of what we call “the economy” and these ripple effects can last for years.
If predictions about the economy were easy, we’d all get into the prediction business and we would all be millionaires. But they aren’t. The best we can do is thoughtfully combine the most trustworthy elements of 1) data and 2) experience, and after that we need to check our instincts and take a leap of faith. Then we need to go to sleep, wake up, and take another leap tomorrow. And the next day. And so on.
But starting any business is such a high-risk venture that even the best data, the richest experience, and the truest instincts can’t fully protect us from the damage caused by a wrong turn. The more you put on the line, the higher you’ll soar if all goes well, and the harder you’ll crash if it doesn’t. So what then? What if your instincts lead you astray? What if you miss a single detail and end up paying a high price? And what if you enter your target marketplace at the wrong time?
There is no perfect economy, and there is no perfect time or perfect place to launch a business or put an idea into action. There is no way to ensure an environment of zero risk. But if you stay compliant, vigilant, ethical, and bold, there’s no limit to how far you can go. You can make great decisions. Find the right business partners, and go with it.