Are you waiting for someone to announce that a recession is happening? Or are you talking to your customers now to hear if their goals and expectations are changing?
For years market predictions encouraged investments in equities rather than bonds.
Yet, there’s been a lot of noise and volatility the last three months. Early inflection points indicating a change was coming.
It didn’t seem real to a lot of people until a bear market was declared. A bear market is identified by a recent 20% drop in equities. A lagging indicator.
Then there was a further one-day drop.
Time to rebalance portfolios and protect wealth.
I know, I know, enough already. It seems a set back in an era of setbacks.
And now there is noise about a recession too.
If a recession does happen – and yes, it is still uncertain – it will come the same way the bear market came upon us. A pronouncement by financial folks.
Technically, a recession is two quarters of negative growth. That’s another lagging indicator.
So, the question is – will you wait until it is declared? Or will you work on recession proofing your business now?
Finance looks in the rear-view mirror. For our business to be recession proof we need to look forward.
I believe early inflection points that indicate the direction to take are found by listening to customers.
Then flex messaging and customer experience based on what you hear.
I believe in this so strongly, I focused this month’s blog post on the topic.
>>> You can read the blog post here!
So, what if the current downturn doesn’t turn into a recession?
Great! My money’s on that you will reap benefits by listening to customers either way.