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
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 engiPopular Podcasts
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
The Brothers Ortiz
The Brothers Ortiz is the story of two brothers–both successful, but in very different ways. Gabe Ortiz becomes a third-highest ranking officer in all of Texas while his younger brother Larry climbs the ranks in Puro Tango Blast, a notorious Texas Prison gang. Gabe doesn’t know all the details of his brother’s nefarious dealings, and he’s made a point not to ask, to protect their relationship. But when Larry is murdered during a home invasion in a rented beach house, Gabe has no choice but to look into what happened that night. To solve Larry’s murder, Gabe, and the whole Ortiz family, must ask each other tough questions.