I drive into work on a nice sunny day. It’s a day like most of the days here in Arizona. The familiar commute provides continuity and comfort. During this drive time I contemplate, where the money goes in poor economic times? This day could be any day, good times or bad, economic prosperity, depression, or anything in between. And so I mentally prepare for a day of uncertainty. You see, I am a small business owner, and for me every day is different. Our business relies heavily on the construction trade; whereby we provide scanning, copying, printing, and courier services. So, in a local economy that is heavily dependant on construction, we proclaim to be an economic barometer, a leading indicator of the near future economy. For over two decades, we have experienced the roller-coaster like highs and lows of the building industry. So how does this, that is being coined, “the worst economic crisis since the Great Depression”, fair to other challenging times that we have experienced?
For over a year now we have been told that we are in a recession. In spite of that, last year was our most prosperous ever. And now, over a year later, our servicing business is just beginning to show signs of a slow-down; yet our equipment sales and equipment supplies are still holding-on. Though this time it seems to be different; usually we start slowing down at the very beginning of an economic down-turn.
The answer I equate is Confidence. Confidence is faith and perseverance that drives us through the rough times. Perseverance through difficult times causes us to appreciate the good times and builds our confidence. At this time we are hearing the media and politicians claim “economic crisis”, but many of us are not listening to it. Those of us choosing to not listen have confidence and are looking at this time as a time of opportunity. Many of us are applying the most basic of investing principles, “buy low – sell high”. We are grabbing the deals in the real estate & stock market. Some laid off employees are starting their own small businesses and are spending money on new equipment.
The difference today is that more people are now enjoying the day and have more confidence. We continue to afford our children to take piano lessons, play baseball and soccer. We are still spending money on entertainment, dinning-out, and going places. Are we cutting back? Sure, yet confidence appears to be at an all-time high for a challenging time.
I believe that our business continues to display a picture of our economy. It appears to be showing us now that people are becoming more intuitive, challenging that which we are told, becoming mentally stronger; thus having gained more confidence. So compared to other difficult times it appears that our society is becoming better equipped to get through and achieve success in these challenging times.
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