Positioning Your Business in an Unpredictable Economy

Key Links

• Sign-up for your FREE COPY of Exit Mindset (Releasing early 2021!)
• http://exitmindset.com/

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Positioning Your Business in an Unpredictable Economy

• It can be especially valuable to learn about how government entities may affect your businesses profitability and valuation in the future.
• The Exit Mindset is the idea that putting yourself into the mind of a potential buyer will lead to a more successful business and eventually a higher valuation.
• Have you ever asked yourself, does the success of the economy influence my revenue? The answer is yes.
• Learn about government deficits, taxes, and how it could affect your sales and profitability.

 

Federal Budget Deficit & Taxes

• One of the biggest factors that may be affecting your business without immediately grasping your attention is the federal budget deficit.
• The United States, one of the wealthiest countries in the world by a lot of people’s perception, is operating with a deficit of over $20 Trillion.
• Understanding the debt that your country is in can give you powerful insights into what is happening at the government level, and whether there may be tax increases in the future.
• Local and Federal governments tax the citizens of the US and then use the money they get from taxes to spend on things like infrastructure, public education, and more.

 

The Goose Laying the Golden Egg

• It is easy to think that raising taxes is the right direction to head with a federal budget deficit of over $20 Trillion, but is that really the answer?
• The more the government taxes the US citizens, the less disposable income the country as a whole has to spend with large US based corporations and other small businesses.
• If we take one employee in the US as an example, it is quite easy to see how taxes will affect their purchasing habits.
• At the end of the day, the purpose of this illustration is to demonstrate that you need to position your business to move forward and thrive through hard economic times.

 

Exit Product

• As you begin to master some of the basics of the Exit Mindset principles, product, infrastructure, and conversation, you should start to focus in on your product and whether it could be considered an exit product.
• Creating enough value in the eye of your target consumer will lead to future success, even through an economic downturn or time of higher taxes for businesses.

 

Conclusion

• Be sure to revisit your product, infrastructure, and conversation when you have a chance.
• Focusing in on a specific target market during a time of economic uncertainty will keep your business alive!
• If we use the analogy of a ship sailing the rough seas of the ocean, you want your business to be a well-made, tough ship when it comes time to weather the storm.
• There may be some damage along the journey, but if you focus on situational awareness and adaptation, there is nothing that can stand in your way.

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