Your choice. Is the sun rising, or setting?
I spent an enjoyable night last Saturday with some really good friends. We sat around the pool, ate some skewers of scallops, shrimp and filet mignon and generally just had a great time. The other pool was the pool of knowledge among these people. All of us brought a depth of knowledge to the table, and although it was just a social occasion, conversation generally ends up flowing to business, the economy, our latest projects, etc.
Quite a range of projects, too, I might add. At the table was a manager for a major real estate company, one of the top regional loan officers for a nationwide bank, two owners of a coaching business, a internet marketing/graphic design guru and me. You may be able to imagine all the topics that came up.
The economy was really the biggest hitter of the evening. I’ve already shared my opinion on that. I think we are at the bottom of the arc and that things slowly are going to return to normal. My projection is around two years until we start to see some real improvement, but there will be incremental change until then, so cheer up and spend some money. It’s all about attitude and without some consumer spending things will not turn around.
Other friends were even more optimistic. They are working on promoting their coaching turnkey businesss and see things really falling into place. They are basically an internet firm without much brick and mortar presence, but they don’t need the brick building. That’s the bonus of internet-land. They are working on some amazing joint ventures and expect their business to take off shortly.
In the brick and mortar world of banking and real estate the news was more grim. Although those folks saw some improvement in recent months, they were not optimistic about the future. My friend in banking sees inflation down the road and a devaluing of the dollar. I can totally see his perspective and I am taking that into consideration in my investments. I am shifting a percentage of my portfolio to the pacific rim. I figure we should hedge our bets. This goes back to not placing all of your eggs in one basket.
So what is this post really about? It’s to give you some idea that the economy is all about perspective. Some businesses are doing really well. (not a lot, but some) and others aren’t. You know that statement can be made at any time in our history, boom or bust. It’s about taking a wide view and taking lots of things into consideration. It’s about seeing the glass as half full, half empty or the wrong size for the amount of fluid. You can find doom and gloom or ‘happy days’ on the news, depending where you are looking.
Looking for news that re-enforces your point of view may make you feel better, but is it educating you? Are you willing to look at the big picture and find those niche business that are embracing these tough times and making lemonade? That’s the ticket.
