Economics for Owners with William Eastman
I started providing economic advice to large corporations many decades ago consulting to the C Suite. As much as it was of value with them, since I started working with business owners it has become an obvious imperative. You and I do not control the business cycle and poor government policy, we can only respond to it. Our series on 'Riding The Wave' provides to the entrepreneur a method of responding to events of our control.
Look at IBGR as your CGO - your fractional Chief Growth Officer. In that mode we have built a platform that will move beyond the one-way conversation of radio and podcasts to real relationships; our Community of Commerce.
A thought before we start, I want to invite you to my new group on the Community - Living the Life . If you are a serial entrepreneur and looking to discuss how to build a business that runs itself so you can start running multiple businesses - this is the right spot.
Catch this show live by downloading the IBGR Business Growth Radio App for Android and iOS and gain access to even more great resources. Find the IBGR Business Growth Radio App on Google Play and in the Apple App Store.
Objectives - The WHY
Most people will tell you that only two things are unavoidable - taxes and death. I will add a 3rd - the business cycle. Unless you live in a command economy where the government makes all the decisions on supply, demand, and prices, the business cycle is unescapable. I guess I should add poor government policy as the 4th element. Other than voting all I can do about it is understand the opportunities and threats to staying in business; at a minimum survive and perhaps even thrive with the right decisions.
Key Issues - Owner Perspective:
- How do I read the business cycle?
- What are the underlying causes?
- What are the moves?
What You Need to Know - The WHAT
- Show Econ.01 - Ride The Wave or Get Swamped
- Australasia: Tuesday 8am, Thursday 8am (Sydney)
- South Asia: Tuesday 8:30am, Thursday 8:30am (Mumbai)
- Prime Meridian: Tuesday 9am, Thursday 9am (GMT)
- North America: Monday 10am (NY)
- Show Econ.02 - In The Shadow of the Wave
- Step 1 New Opportunities - YOUR MOVE - Anticipate Demand and Expand into Current Markets with Current Offer.
- Show Econ.03 - It’s Worth What It’s Really Worth, Finally!
- Step 2 Credit Expansion - YOUR MOVE - Anticipate Demand and Expand into New Markets with Current Offer.
- Show Econ.04 - It’s Crazy Hot
- Step 3 Euphoria - YOUR MOVE - Meet Demand and Expand into Current Markets with a New Offer.
- Show Econ.05 - Uh Oh!
- Step 4 Distress - YOUR MOVE – Focus on Cash Flow Management, Lean Up the Organization by Reducing Fixed Costs.
- Show Econ.06 - This Doesn’t Look Good
- Step 5 Revulsion - YOUR MOVE – Focus on Cash Flow Management, Lean Up the Operation by Reducing Variable Costs and Lower Prices to Existing Customers with the Cost Savings.
- Show Econ.07 - Are We Going to Survive the Ride?
- Step 6 Panic - YOUR MOVE –Improve your Core Products & Services during the Slack Time.
- Show Econ.08 - Whew, Glad That’s Over
- Step 7 Cautious Optimism - YOUR MOVE –Improve your Core Products & Services during the Slack Time.
- Show Econ.09 - Control the Controllable and Agile
What You Need to Do - The HOW
- Listen to this Econ Series on Riding The Wave
- JOIN the Community of Commerce
- Show Up Next week
The purpose of this show was to present a method of understanding what is happening in the economy and series of steps to ensure survival over the next 9 weeks. We are your single, one stop source for business success, period, end of story.
Make sure you leave some thoughts in the comment section below. I am interested in continuing the conversation.