Forecasting, Steady Eddy & New Hires

How's business? I get this question all the time, especially since the world almost imploded a couple years ago. We're coming up on two years since the economic crisis hit and things still are not back to 'normal'. We all know people that have lost jobs. We all know about houses repossessed and business that have gone under.

So, the question of how the business is doing is expected. It's everyone's way of looking for a little hope, a little good news—are we all gonna make it?

Things at Bob Wright have been nice and steady. We've had some really low points over the last couple years, but our team has hung tough and pushed through. We continue to bring in new work and new clients and for that I'm quite grateful. We've even been able to hire a new employee, Jon Daggar, who is now our full time web developer.

The hardest thing (for me as an owner) about the business is forecasting. I used to be able to make certain assumptions based on how much work we had, backlog and sales in the pipeline. Based on those factors I knew if I should invest in new equipment, hire new people, cut back on expenses and so on.

But, today's climate is rather different. We would benefit from a full-time account person and another designer. But, even with financial data, it's hard to make the call on those two positions. Should we wait? Is there going to be a second dip/crash? Are we missing out on opportunities by being conservative? Should we spend or protect cash?

And here's the funny thing: Everyone else is thinking the same way. So, as I wait things out before committing resources, so do my prospects and clients and so do their prospects and customers. We've got a market in suspended animation, waiting for an indicator that everything is going to be okay.

While we all wait for some confidence to re-enter the marketplace, our mission remains the same: to be a blessing. There's a lot of work to do: companies still need to communicate with their markets, they still need to hone their message and improve the way they market themselves.

We love solving those kinds of problems and we love to see our clients thrive. So, in answer to the question, we're doing well, thanks. Business remains steady, we've hired a new employee and we've developed some new capabilities.

What about you? How's business?