Episode 61 - Michael Feuz Provides ITR Economics' Forecast of the 2030s Depression

How long will economic growth last? Join Michael Feuz for Episode 61 of the Industrial Growth Institute Podcast for more on ITR Economics' explosive prediction of a 2030s depression! Learn what you need to do to prepare your company now.

Summary

Michael Feuz, an economic speaker from ITR Economics, is in the Industrial Growth Institute Podcast studio this week to discuss the current business landscape, sales strategies, and the forecast for the 2030s. Mike and Ed explore the importance of understanding market dynamics, the transition from sales to economics, and the challenges businesses face in uncertain times.

Michael shares insights from his unique background, including his experience in tech sales and public speaking, and emphasizes the need for businesses to adapt their strategies in response to economic trends. He and Ed also discuss:

• strategic business positioning for the upcoming economic challenges of the 2030s
• the importance of understanding economic cycles
• leveraging technology and AI for efficiency
• the U.S. economy
• key economic indicators for business leaders
• labor challenges in the industrial sector
• the impact of tariffs on the trucking industry.

Additionally, they emphasize the need for businesses to adopt aggressive growth strategies and effective marketing approaches to navigate the changing landscape.

In sum, the conversation offers an interesting dive into ITR's forecast for strong growth in the next five years, then five years of economic depressions, albeit with cyclical fluctuations. The message is to use this period of strength to position your business with a strong balance sheet, an agile structure, and clear competitive advantage.

Takeaways

• Practical perspective on economics.
• Public speaking skills are essential for conveying economic data.
• Sales strategies must adapt during periods of uncertainty.
• Building relationships is key to successful sales.
• Discipline in sales leads to better outcomes.
• Economic forecasting can help businesses prepare for the future.
• The 2030s may present significant economic challenges.
• Businesses should not miss opportunities for growth in the coming years.
• Businesses should prepare for the 2030s by evaluating their market positions.
• Understanding economic cycles is crucial for strategic planning.
• Investing in automation can enhance productivity and reduce labor needs.
• Aligning leadership and board perspectives is essential for effective decision-making.
• The U.S. economy is projected to remain strong despite global challenges.
• Key economic indicators include B2B spending and money supply.
• Labor availability is a significant concern for industrial sectors.
• Tariff impact on supply chains.
• Alternative data can provide valuable insights into market trends.
• Effective marketing strategies are vital for professional services firms.

Takeaway Quotes from Michael Feuz

• "If you're preparing for the 2030s, you're not going to be worse off if it doesn't materialize."
• "Take care of the little things so the big things fall in place."

Check out Michael's ITR Economics website.

LinkedIn: Michael Feuz and Ed Marsh

Twitter: Mike Feuz and Ed Marsh

Instagram: Mike Feuz and Ed Marsh

YouTube: @ITREconomics and @EdMarsh

Show Transcript 

Chapters

00:00 Understanding Market Dynamics and Trends 07:35 The Art of Engaging Public Speaking 12:36 Transitioning from Sales to Economics 18:16 Sales Strategies in Times of Uncertainty 24:58 Forecasting Economic Trends and Challenges 30:27 Preparing for the 2030s Economic Landscape 37:05 Understanding Economic Cycles and Market Dynamics 46:30 Aligning Leadership and Board Perspectives 51:36 Key Economic Indicators for Business Leaders 57:47 Utilizing Alternative Data for Economic Insights 01:07:14 Preparing for the 2030s: Growth and Pricing Strategies   With five years to build revenue and resilience, it's time to get serious about engi