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The Small Business CFO’s Opinion on Negative Economic News

Ok. I’m here to provide the small business cfo’s opinion on all the negative economic news out there. But first. PLEASE BEWARE. Everyone, especially business owners like to think that nothing strongly influences them without their consent. Not so. Studies show that people surrounded by negative thinkers tend to think negatively. And vice versa. Although the news is not a person, reading, listening to, and watching the same negative information over and over provides the same adverse impact on one’s psyche as repeatedly engaging with and listening to a bunch of naysayers. What do most self-improvement books say about naysayers. You have to let them go! The same goes with the news. Don’t let all that negativity wear you down and wear you out.

Worn_out_figure

As a small business cfo and business owner, I believe wholeheartedly in keeping my pulse on what’s happening around the world financially and economically. But most of what the news is now is not reporting but pontificating. It’s not: “The 2010 Census reported a xx% decrease in income.” It’s: “The Census’ report means that income is trending downward and expected to do so for the next xx years.” Comprende? 95% news. 5% opinion. If you ever read Freakanomics, you’ll know that the vast majority of the economic pundits quoted in the news are wrong! Of course, you don’t know they’re wrong until 1,3, or 5 years later (the term of their predictions). By then most have forgotten what the pundits said. But Freakanomics tracked it. And so do I. (To a much lesser extent!)

From a small business cfo perspective, what you believe is what you get. People and businesses rise to the level of expectation. Your company finances will begin to reflect your thoughts.  If you allow all the negative reporting -including negative spin on positive results – to sink in, it could adversely impact your business. You may concede or give up. Remember, someone (or someones) is always doing well no matter how the economy is doing.

Any comments?

 

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About Tiffany C. Wright

Hi! I,Tiffany C. Wright, am the author of the ebook, "Help! I Need Money for My Business Now!!" and the book "Solving the Capital Equation: Financing Solutions for Small Businesses", available on Amazon. I am the president of Toca Family Business Services, a short-term & project-based interim management & strategic and financial advisory firm, located in Atlanta, Georgia. In the past five years I've helped small and medium companies restructure and obtain over $31 Million in financing and a similar amount in purchase orders and contracts. I have an MBA in Finance and Entrepreneurial Management from the Wharton School of Business at the University of Pennsylvania and a B.S. in Industrial and Systems Engineering from The Ohio State University. Personal: I enjoy investing. I am a prodigious reader of everything from business books, magazines, and newspapers to horror and popular fiction. I read 4-6 books per month. I also love to travel. I've been to 33 countries on 5 continents and lived in Japan for 2.5 years and aim for a foreign locale twice a year. I am also an athlete and run track on the Master's Circuit. The highlight was placing 7th in my age group in the 2007 World Master's Track and Field Championships in Italy.

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The Resourceful CEO, Tiffany C. Wright

the president of Toca Family Business Services, a strategic and financial advisory firm which provides short-term & project-based C-level management. She is the author of Solving the Financial Equation: Financing Solutions for Small Businesses, available on Amazon.

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