Growth Through a NEW Multi-Dimensional Perspective
(This is the first is a series of articles in reaction to reader responses to a survey we ran “What do you want to know about research”. Thanks to everyone who responded!)
Invest in Your Company the Way You Invest in Yourself
What is your personal investment strategy? Max out your 401K to earn the highest employer matching percentage? Save the first 5%, 10% of your pay to ensure that you are saving? Invest in yourself by paying for an MBA? Whatever your strategy, you are wise to think long term and to follow the lesson from The Shawshank Redemption: little by little will get you there in the end.*
Fed Chairman Jerome Powell forecast 6-7% GDP growth for the second half of 2021. He indicated that most Wall Street forecasters concur that it will be a strong year. He also said interest rates are unlikely to rise above 2%. Coupled with the estimated $2 trillion pent up (read saved and unspent) dollars that consumers saved last year 2021 promises to be a terrific year for those who are prepared for it. Are you prepared for it?
As the new year has begun, several clients called on us for help with pricing. This makes sense. The current economic environment is not favorable to raising prices, yet costs, especially shipping, continue to rise. Which means setting the correct price at the outset is critical because price increases may be difficult to establish in the near future.
