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A.L.I.V.E. in Business in 2023

For better or worse, one of my hobbies is listening to economic news. I know, it’s weird. I have other more normal hobbies like running and cooking, but for some reason the economy always captures my interest. How it works, why we respond the way we do, and other factors both on the stoic and emotional sides. The economic news recently has been all over the place.

Some “experts” feel like 2023 will be full of opportunities, and some feel like a recession is imminent. And of course, others feel like the recession is an opportunity in and of itself. What do you do with that as you plan your activities for the new year? Answer: You stay A.L.I.V.E. in 2023 by Acting Lean Internally & Vigorous Externally. This may sound like doomsday advice..., “The sky is falling, the sky is falling”, but I don’t mean it that way.

Whenever the news is mixed and you are uncertain about what lies ahead, it’s a good time to be focused (read: laser-focused) on what’s important. Those items include retaining current customers and acquiring new customers, which is where the “vigorous externally” portion comes from. We must continue doing what it was that made us successful in the first place.

It’s also important to keep our expenses under control. This doesn’t mean that you cut expenses that directly benefit your customer or help you operate more efficiently; however, it does mean that we ‘trim the fat’ that can accumulate during good times. Items such as subscriptions we don’t use often, marketing that is marginal when it comes to results, and similar expenses need to be judged and cut when the future is uncertain. Some of these items may be nice to have during good times, but they are items our businesses can live without in times of uncertainty. Now is the time to make those decisions and take action.

Will 2023 bring bad news? Honestly, I don’t know. Will it be a period of fast growth for most businesses? I doubt it. Will it bring some good opportunities though? I tend to be on the side that believes it will. However, regardless of what you feel about the future, times like this are perfect for hunkering down and focusing on what’s important in your business... and only that.

If we can be of assistance as you move forward in the new year, please reach out to us on our Contact Page.

Make it a great 2023!

Mark Goldman



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