Could you be losing sales for no reason other than you think you are?
Sometimes selling (and everyone sells something) can feel like you are in one of those dreams where, no matter how loud you speak, no one can hear you.
That’s what it feels like when I realize I am so close to a situation that I can’t see what’s really happening.
Do you know what I mean?
Have you ever had that feeling that the answer is within arm’s reach but you just can’t put your finger on it?
But sometimes a feeling is all you need to make something a reality.
Our intuition can create a self-fulfilling prophecy that will make something come true.
Take the economy, for instance. Right now the yield curve for treasury bonds is inverted, which means short term bonds pay more than long term bonds. This is a leading indicator of a slowing economy and, even, a recession.
But whether or not an indicator is right or wrong, we can make It so.
For instance, a CFO of a large company gets an indication of a slowing economy and decides to hold off on spending which, in turn, fulfills what the indicator was signaling.
Now this indicator may be right, or it may be wrong, but how we feel about it causes us to take action. This begins a self-fulfilling prophecy and a constant feedback loop that continues until another indicator says the coast is clear. If enough CFOs act in the same way, we can end up in a recession.
It’s like watching something happen in slow motion.
But it’s better to be safe than sorry. Right?
And it’s definitely better than being caught completely by surprise, like what happened from 2007 to 2009.
During the last recession, there were plenty of indicators that pointed to what would come.
Just like seasons in the year, there are times that the likelihood of a sunny day is high, and there are other times when it’s a good idea to have an umbrella handy.
The good news is that all indications point to a positive 4th quarter!
Whatever you think the situation is, instead of relying on how you feel, make sure you have the best info to see what is happening, and be as prepared as you can be.
Our Q3 Benchmark Report can help, and it will be out in the next couple days.