By Darren Shirlaw
Entrepreneurial businesses are often punished first when a
recession hits, but can be the last to receive an economic uplift
as the economy strengthens.
Action for the entrepreneur: understand economic timing
You've surely heard the saying: "First in, last
out"? We are often the first to be cut from customer budgets
and the last to be brought back in. Being first into a recession
and last out requires some specific actions for an
entrepreneur's business survival and future growth.
Entrepreneurs must understand economic timing by scanning the
media's daily data streams. These help predict market
improvement and, at a macroeconomic level, things are already
starting to look up. The economic clock suggests we are currently
at 8pm, which is described as a hesitant and uneven recovery.
