In a new
year, most of us take a renewed look at the business landscape. What should our tech budget be this
year? How should we project sales? Will banks lend to smaller businesses? If so,
what is their threshold? Risks arise
every year, some new and some old, and these risks can affect your bottom line.
management services firm, iJet, recently released a 2012 forecast. In terms of the factors most likely to affect
the economy this year, their findings not surprisingly listed economic
instability at home and abroad, with the European debt crisis and the Occupy
Wall Street movement as top issues. It would serve electronic security
companies well to take a look at information like this, and plan accordingly.
how differing levels of economic activity might affect your bottom line is a
good place to start. From there, it’s
important to establish a strong foundation from which you can accommodate
growth, or be nimble enough to scale back with minimal staff and resource
iJet findings don’t specifically state this, what is implicit in their
information is that instability in the world is higher than normal. This
instability will become a factor in managing your business. Creating a good business plan helps minimize the
financial exposure that comes from making last-second decisions.
way to accurately predict what the future holds and we at ESA don’t have a
crystal ball, but based on our Megatrends survey, what we see on the news and
the general economic climate, we know that we all need to look ahead with our eyes wide open. Read up on what’s
affecting our industry, and set a smart path to move ahead. It won’t be perfect, and you’ll have to make
adjustments, but by having a baseline plan, you’ll be more prepared for what
comes your way.