Have we gone past the Sweet Spot?

I think we are now well and truly at that point in the economic cycle where we have gone past the sweet spot.

We’ve pulled away from the dark days of the recession and things slowly got better and better, we’ve lost that sense of caution and we find ourselves here, still in the upside but we have passed that sweet spot and we are starting to experience the downside of that upside.

We can see recognise the clear signs..

  • Business costs are increasing
  • Cost of living is increasing
  • Landlords are pushing up rent
  • Team turnover rates are increasing
  • Wages are increasing
  • Attracting great talent is getting more difficult
  • Expectations are higher but without the sweat
  • Traffic is getting worse
  • Hotel rooms are in short supply and increasingly expensive
  • We end up making decisions that don’t make sense anymore

This is the time when we can easily end up in dangerous territory if we make too many bad decisions, which will leave us vulnerable to even the slightest ill wind.

While this might seem like a negative post it’s a positive, future proof one.

Don’t undermine your solid foundations, keep doing the right things, carefully assess all of your decisions, keep a close eye on all of your KPIs, keep your team motivated and stay focused and stick to your plan.

Stay calm and keep doing good business,,

Greg 

Greg Canty is a Partner of Fuzion Communications who offer Marketing, PR and Graphic Design services from our offices in Dublin and Cork, Ireland

 

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4 Responses to “Have we gone past the Sweet Spot?”

  1. Colette Quinn Says:

    Totally agree Greg! As somebody said to me the other day ‘the boom is back but it’s boomier!’ – says it all really……

  2. jimmy walsh (@jimmywalsh13) Says:

    Good article Greg and agree with the points raised, need to learn from the past.

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