Confidence Lost... Everything Lost...

This headline, as drastic as it may sound, has so many applications in everything we, as humans, are involved in. Personal and family relationships, sport, business activity, gainful employment and many more.

 

I first heard the saying from a great Novocastrian, not surprisingly, on a race track! John, seeing my despair with the usual poor punting performance, consoled with the line..…”Money lost, nothing lost…Confidence lost, everything lost.” How true, I thought.

 

I now pen this newsletter in the 2nd half of the World Cup Semi-Final of Germany V Brazil. Being 5-0 down by half time, with all confidence lost, the previously buoyant and technically precise skills of the Brazilians are evaporated as they troop back on to the field for the second half, . . . with nothing to save but their pride.

 

Woops, now 6-0, and now 7-0!! Confidence well and truly Lost.

 

The same sentiment of needing confidence applies in business, commerce and everyday life.

 

Recent confidence surveys have been interesting. Our good friend Greg McKenna from Business Insider, shared with me this morning that that consumer confidence collapsed following the May Federal Budget(ANZ Consumer confidence index down some 14%, before recently rebounding to reclaim approximately half of this erosion). Interestingly, business confidence, around which investment and employment decisions are largely founded, has remained relatively consistent or level.

 

The question I pose is;  how should we, as business owners and commercial managers, view the National and local economies, and their impact on the economic prosperity of our small and medium businesses, and more importantly, what actions or strategies should we adopt.

 

To answer, I offer you two suggestions. With my optimistic cap on, I offer the observation that when the economy appears to be at a low ebb, opportunities of under valued assets and businesses exist. These counter-cyclical opportunities are where many astute entrepreneurs and investors take advantage.

 

That is, we need to shed the burden of negativity and look for under valued opportunities, invest your energy and resources, and enjoy the inevitable cycle as economic prosperity returns.

 

Now is the time to be energised, commercially rational (neither pessimistic nor buoyant) and seek these opportunities. They are out there.

 

The second offering is around the technology and business system enhancements that are available to all businesses, especially with the boom of cloud based software applications.

 

confidence-words.jpgThe interaction of the software application, the implementation of the better business and human systems and consistent management is what all SME owners and managers, now more then ever, need to be focusing on. Take this time to bring about business improvement strategies that will also see your business benefit wit

 

h leverage as economic times cycle toward improvement.

 

As sure as day follows night, confidence will be restored & economies recover. This is the time to position your business for that recovery…….and look, Brazil have salvaged some pride!....it’s only 7-1 and they are about to turn the corner and restore national pride for Russia in 2018!

 

Chris Sneddon.

X
Enter your Maxim Accounting and Business Advisors username.
Enter the password that accompanies your username.
To prevent automated spam submissions leave this field empty.
Loading