Yet again I have rather useless questions and wondering if, after the idea having struck me as many times in the past several weeks, whether I should post them. Answer them if you will.
- A series of questions really, about the economy. Do you think we’re headed for recession? If so, do you think it will affect you? If so, how? Will your strategy, planning or line development change? If so, how?
- How -or has- has the weakening US dollar affected you? Between sourcing and selling abroad, has this been a net positive or negative to your bottom line? If you’re not feeling the effects now, do you expect this will change later? If so, have you given any thoughts to how you’ll manage these changes?
I have two general ideas with regard to the first question. I’ve always thought that one of the facets of an enduring product line is one that would be generally impervious to the pressures of an economic downturn. If anything, one would benefit from recession through increased access to labor. That sounds predatory; what I mean to say is that in a downturn, the talent that left the industry for other jobs, might be more likely to return provided the conditions existed for them to do so. Call it restored opportunities.
With regard to item two, I’m not feeling any changes yet, negative or positive but since I feed from you, I expect that will change depending on the affects of the economy on you. I’ve had my eye on diversifying but must admit I will be unlikely to implement anything until unequivocal truths confront me. I suspect I’m not alone in hoping new political leadership will restore consumer confidence.