Listen to the latest 60 second episode of Integrity Moments with Rick Boxx
In this series, we’re discussing preparing for economic storms. With inflation and interest rates soaring and the stock market crumbling, the storm clouds appear to be rolling in.
One of my favorite indexes is the National Federation of Independent Business Optimism Index. Because it’s a survey of small business owners’ perceptions, it has helped predict economic storms.
In May, this index hit its lowest point in 48 years. It’s time to prepare.
The first step is staying close to your largest customers. If your customers become concerned, they will begin cutting back their purchases.
Proverbs 27:23 says, “Know well the condition of your flocks, and pay attention to your herds.”
By staying close to your customers and asking good questions, you can learn how to best prepare for the storm.
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