Global Trade Base Trends
February 23, 2009 - Cool Heads Prevail - Patrick Donnell, President.
- During times of upheaval there is a trend from people to react from emotion rather than thinking through situations logically. In our current times, this emotional reaction of citizens only adds to the economic turmoil cycling through our country. The response is like salt in an open wound that causes further damage instead of calming the situation. Our country has seen times like this in our own history. Our forefathers endured much tougher situations than anyone is normally exposed to. We seem to think that the past is something not worth reflecting on to gain insight into current circumstances. We also forget how far we have progressed until we turn around and look to see where we started.
- There are two primary things that separate people from the animal world. The first is the ability to control our emotions to think logically and analyze situations before reaction. This ability has allowed us to dominate our environment and overcome dangers. The second is opposing thumbs. It is the first ability listed here that we truly need to call on now more than ever. Think about the U.S. great depression. There were millionaires created during that time of economic upheaval and turmoil. The people with the cool heads did not react like the rest of the crowd but wisely chose the most strategic or tactical direction to go in that would create the largest benefit. You possess the same ability.
- My advice is to ignore the crowds and public opinion. Stop listening to the histrionic scandals and negative news and focus on what it is you want to achieve for your business. Set a goal of where you want to be then chart the course to that objective. We cannot necessarily change the way a domestic citizen responds to the availability of your product when it comes to their decision to purchase. Their decisions are greatly based in emotion. However, you can choose the markets that your products are put into. Make the investment to penetrate those markets and move forward. In hindsight you will be seen as the one who kept a cool head and accomplished great things.
- It does not take much to project out where your company's sales and revenues will be in the next year if you continue within the current market. The worst thing you can do now is to freeze up due to indecision. Begin taking the actions now that are necessary to protect you from the pitfalls of doing nothing and riding the economy down the drainpipe. The bottom line is this... If you do not go international than you will not be competitive in the world market. You are probably experiencing flat or declining sales. If you do not go international than you may not be in business much longer. That is not a hard decision to make. Go out of business or begin penetrating multimillion dollar markets abroad.