Happy New Year! I trust you have a successful one and it brings success and happiness to you and yours.
The coming year promises to be an “interesting” one on many fronts.
The global economy is in a state of flux at the moment and the position of the European economy in particular is concerning. I suppose it will depend on what happens with the various sovereign debt issues and the bank and financial market approach to things, but, in some ways, it could well create fantastic opportunities for many businesses. If Europe does melt down this year, there will be great prospects for businesses to exploit openings that were serviced from there. The only draw-back will be that our exports to Europe will become relatively more expensive (just look at the change in forex rates between AUD and EUR at the moment).
The other issue relates to the health of the US economy. In many ways, it reflects the situation in Europe. There is still the issue however of the underlying strength of the US economy – if they can get their domestic issues better controlled. The debt position of the country is a concern, however, if internal demand can be driven by increased confidence by US consumers, the impacts on the global economy can be profound. One issue that needs to be considered is the upcoming Presidential election over there – not sure as to what will happen and whether Obama will be re-elected. There seems to be a significant drift to more conservative politics globally which may mean a major change in policy direction from the US government.
Then there’s China. The development of their economy has been spectacular, but there is a school of thought that they might be a little “over cooked”. Stories are starting to emerge as to whether the reality is in line with the published facts (all government vetted) for their economy. There was a report the other week on the debt position of a number of internal governments in China that was not healthy. Yes, they have significant foreign reserves, however, these may not be able to be called in if Europe and the US contract markedly. As stated above, it is “interesting”.
On numerous occasions over the past 16 years, I have mentioned to our customers that times of great uncertainty are also times of great opportunity. This is one of those times.
By getting your vision, goals and strategy right, you will be able to exploit the opportunities that exist and significantly develop your business and lifestyle. It is simply a matter of devoting the time and thinking space to develop the vision, goals and strategy for you and your business. Once they are detailed, it then comes down to implementation. Many, many great ideas and opportunities fail because of a lack of commitment to implementation and falling in to the bad habit of micro-managing. By keeping your head up in 2012, you maintain your focus on the important things. This will put you far ahead of your competitors.
Make 2012 a great year – it is your choice!