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Key Economic Indicators for YOU!

by Taylor White

There is plenty of news out there and all kinds of resources in print or online that we can find that provide all sorts of economic indicators such as the stock market, the value of the dollar, etc…

What I want to know from you is, what is it that makes you feel like the economy is heading in the right direction? Or better yet, what are the things you see or feel on a daily or weekly basis that make you feel good about your business and your future prospects?

I’m thinking more gut feel things and not actual data points

For me, I always feel good when we are busy. I love having a back log. For as much as I wish I had time to think and plan and brainstorm and be creative, I’m much happier when I’m super busy and can barely keep up. That makes me feel good. Sales, phone calls or emails requesting bids or proposals, those are kinda obvious things, but they all make me feel great and that things are heading in the direction. Funny enough though, not all of my employees agree with this. To some of them being busy = being stressed…we can discuss this further at a later date…

I also like seeing restaurants and shopping centers busy. Is this how all small business owners think? I would hope so, but I’m not certain it’s the case.

One key economic indicator for me is the price of gasoline. I start to feel good when the price of gas drops. I’m in Texas and I drive everywhere. On the way to work each morning I pass by one particular gas station that is just in my normal line of sight – when I see gas below $3.00 a gallon, it makes me happy and it makes me think people will have a little extra cash in their pockets and if they spend that, then it’s good (today it was $2.86/gallon!!!).

What do you come across on an ongoing basis that help you know how things are going or how optimistic or pessimistic to feel about your business?



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