Not time to panic or run for the hills, YET. However when the drumbeat of reasons being discussed that could slow down or end what is already a 6 YEAR recovery are studied, it gives pause to think.
It does strongly suggest taking some chips off the table by addressing the plethora of small issues requiring time or money to resolve. Yet very few people seem willing to conduct a mini fiscal checkup, off-site strategic workshop planning session, or even looking at squirrels setting aside acorns for winter.
Boiling things down to simple terms, you always should be thinking about what business operations, processes or strategy can be improved. Most organizations have contingency planning, budget updates, quarterly review session, internal audits, enterprise risk management updates or operational risk management updates. If not, start with something simple, like the 5 question fiscal quiz available on my Fiscal Quiz tab.
If you are so entranced that you have forgotten that cycles always have expansion and downside phases, think back to what actions, situations or attitudes blindsided you in 2008. The pain you remember today may make some future tomorrow a lot less painful.
