Tough news arrived last week as we saw currency slippage almost everywhere in the marketplace. We know an increasingly worsening currency outlook makes financial services tight, and business executives and managers concerned.
We also know that uncertainty heightens fear surrounding profits and cash flow. But the currency situation is out of our control, correct? The overall economy cannot be changed by one industry player, even if the player is large in size with many resources, can it?
So why don’t we focus on what we can control like our own costs, and worry less about what we can’t change? Why do we as business professionals look at the overall picture so intensely, instead of focusing on our business and positioning it best for the overall economic situation? This is an interesting dilemma and one that should be explored.
Simple question we need to ask ourselves is…what am I paying too much for and what can I do about it? Overpaying at this time is one of the most detrimental impacts an industry executive can make at this moment.
Last week’s market info: