Depending on which study you read, you get conflicting viewpoints of the economic future of small business. This is exactly what Carol Tice noted in her recent post ” The Best Economic Indicator for Small Business Owners.” Some business studies say things are looking up with lots of optimism in the marketplace; other studies indicate entrepreneurs are barely holding on by their fingertips. Who do you believe? And, more importantly, which study do you consider when planning the future of your business?
We say NEITHER!
Although the many studies present interesting information, in many ways the economic future of your small business is an inside job. That’s really nothing new. Even during strong economic times, some business succeeded while others failed.
There are, however, three actions you can take to create your own economic climate of growth. These include:
- Strengthen the belief in yourself and your ability to achieve your dream.
- Create a well-thought out strategic plan based on what you want as opposed to what you think can be achieve based on the latest study.
- Commit to the strategic execution of your plan.
When it comes to determining the future growth of your business, say “YES” to trusting your inner expert.