I’ve changed the banner photo on my web site to an early spring picture, perhaps prematurely.
It’s a sunny 60-degree day in Chicago – in March. Is that a sign that winter is over? Is the worst behind us? Can we assume that growth and better times are close at hand? Or am I jinxing myself by thinking about spring?
Those are the same questions we’re all facing with the economy now. We’ve had some positive signs. There are some early indications of growth. We’d like to think that the worst is behind us.
What we think about the physical climate doesn’t actually change the weather, of course. That’s not so clear on the economic side. What we think about the financial climate influences our personal and corporate decisions on spending, saving and investing. And that all has a very direct impact on what happens with the economy.
We can’t just set this aside in the business world. There, we have no “do nothing” option. We can’t just shrug and wait to see what the next few months bring. We have to make decisions about programs and budgets and products and services. Either we take some chances and invest for growth (and help make it happen), or sit on the sidelines and condemn ourselves to another round of cost cutting and prayer.
I vote for taking some risks and going for more growth. With caution, of course. After all, I’m not putting my Chicago winter gloves and boots in the back of the closet yet either.
[Opinions on this site are solely those of Scott Nadler and do not necessarily represent views of ERM, its partners or clients.]