Pick up any publication and you’ll see headlines about the European financial markets collapsing, our stock markets moving like a yo-yo, companies like Kodak in a panic sale of assets and companies like Boeing and Amazon.com reporting record sales.
Erratic is the word I’ve been using for months now. It’s not just that it’s good and bad over time, it’s that it’s good and bad at the same time. Sometimes for the same business. I’ve seen more good businesses in the last few months than I saw in the year prior. That doesn’t mean every business is close to healthy, it means certain segments (those I’ve been referred to or my clients are interested in) are doing fine.
This erratic economic behavior means we all have to pay more attention to the details, become more visible and fight for any business we have the opportunity to secure. As a banker told me earlier this year after I asked if my client’s deal was important to him, “Every deal [loan] is important because there aren’t that many out there.”