Every day the financial institutions and banks get worse. Oil is up. Oil is down. Home prices are falling off the cliff. The government is running out of money. Taxes will go up. Consumers will stop spending and have maxed out their credit cards. The government has bailed out the banks. And Wall Street still doesn't know what to do. Do you?
As I travel around the country speaking to business owners, they keep telling me it is different in their market area. They say: 'The economy isn't that bad and we are still busy.' 'I hope we don't have to change the way we are doing business.' 'I hope it doesn't affect me!'
Get real!
If you aren't planning for a 25 to 50% slowdown in your business over the next 2 to 3 years, you will go broke! (unless you are in alcoholic beverages, medical care, gasoline, or government services business.)
- Lenders have shut down all loans on every kind of real estate project. Get it? - NO NEW DEVELOPMENT PROJECTS.
- Consumers have stopped buying since they can't refinance their homes. Get It? - Retail sales growth is dead.
- Homeowners can't qualify for a new home loan. Get It? - No new homes will be built and construction products will sit on the shelves.
- People can't lease cars. Get It? - Anything to make or service cars will be slower.
- Stay put, do nothing, spend all your money and eventually go broke.
- Decide to make drastic decisions about how you will operate your business.
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