In just two days we’ll be putting another year behind us. And what a year it has been……a year of excesses to say the least. It would seem that no region of the country has been sheltered from unusual storms, earthquakes, floods, tornados, lightning strikes and related destruction. In spite of these ‘natural’ disasters and the almost daily reports of political foibles, be they on a national or local level, the economy has been showing signs of improvement. Home sales are improving and late in the year, home sales were the highest they’ve been in five years. This surge reflects an improved consumer confidence which is also driving the manufacturing sector. It too surged late in 2013, reportedly its fastest growth in two years. Jobs were added and unemployment is at about seven percent. Retail sales in November and December were the highest they’ve been in three years. Even the ‘suits’ on Wall St. are predicting a continued upswing in 2014.
On the surface, everything appears to be ‘coming up roses’. Unfortunately, as we’ve seen in the past, an upswing can be derailed by something as simple and innocuous as a headline, a rumor or an out-of-context quote.
When it comes to consumer confidence, self protection is a first priority. As we absorb information, whether it’s in the traditional media, the internet or the rumor mills, our first thought is how that news could affect us personally. And based on this new input, we then go into a self-preservation mode. Just as unfortunate is the fact that many of the headlines, prominent quotes, rumors, etc. are of a negative nature. Just as sex sells, so does negativity. And ‘shock’ sells too. A quote by Miley Cyrus stating that the U.S. economy will ‘tank’ in April, 2014 would surely appear in every newspaper, radio, TV and blog regardless of her credentials. And too many people will react based on this questionable information.
The fact of the matter is, we are a nation of followers. We follow our perceived leaders, whether they are elected politicians, sports or entertainment figures or CEOs. Though it sounds like a negative, this alpha male-type thinking is what holds our economy and social fabric together. My dear old sainted granny’s comment about ‘Too many cooks spoil the broth,’ now makes a lot of sense. Everybody can’t be the boss.
This doesn’t mean, however, that we can’t take charge of our own personal ‘economy’. For example, last week I visited a friend at the opening of his new quick service concept that opened in a small city of about 90,000 people located about 150 miles from a major metropolitan market. A veteran restaurateur, he has purchased the area rights for this specialty food concept that was virtually unknown in the market. “The first hurdle was to ‘sell’ the mall management on the concept,” he said. “Now we have to convince the consumers.” We discussed various marketing steps that might accomplish this, including local advertising and promotions but he always came back to the same thing……….empowering his staff. “Everyone involved must feel that this is their company, that they are important to the over-all success and their input is important,” he explained.
It all sounds so simple and as such, it is often overlooked yet it instills confidence and loyalty. And this is the key to any business success in 2014 and every year after. The empowered employee, one that has a degree of authority, is valued employee. Oh and let’s be honest here, the empowered employee makes a great franchisee in the future.
In short, don’t spend too much time thinking about what ‘might’ happen. Sitting on your thumbs worrying about negative news will hold everyone back. Go forward and make things happen. It’s a brand new year, the slate is clean, make your mark! Have a Happy and Prosperous New Year…………………WP