We may not be in a K-shaped recovery, we’re likely in a K-shaped economy…. have you considered this?
I’m really excited to talk to you about the difference between a K-shaped recovery versus a K-shaped economy. You see, I think it’s really easy to think that a K-shaped recovery is the only option after a recession or depression or a dip in our economics overall. However, what if we’re actually living in a new world, a new economy, a new way to run business that’s not going away anytime soon? And that is really what’s K-shaped. I know that would feel probably a little scary and a little concerning, especially if you’re at the bottom of the K and you’re struggling to get by, but I choose to focus on the glass half full and align myself alongside others who are thriving and super successful in the current economic conditions.
The general state of the economy
And I really believe that that’s where more businesses and entrepreneurs and creators can be. This is especially important if this is not just about recovery, but it’s about the general state of the economy. There’s so many crazy things going on in the world, it feels like if you blink or you miss a couple of days of the news, that you’ve completely lost track of reality. The truth of the matter is inflation has been here for some time and is rapidly advancing. You’re likely seeing it in your business. You’re probably even considering adjusting your prices. Hint, you should. And wanting to do that strategically instead of just throwing spaghetti at the wall, or choosing a number is something that I actually respect about small business owners and independent creators. It’s different than big business that uses all the analysis and data and special functions that someone like me does.
But your heart as an independent owner and creator, it’s typically to help as many people as you can, as affordably as you can, but with your needs and mind as well. So running the business efficiently with some profit. And that’s where I’m really grateful to bring those big business best practices down to average mom or pop business owner. And so I want to say this very clearly, if things are well, it’s time to go deeper. It’s time to go bigger. It’s time to get grander in what your big picture goals are. And I think it’s time to adapt to the concept that this is likely an economy that’s not changing anytime soon. So we’re going to have to work with inflation. We’re going to have to work with government stimulus as much as it kills me to say that. We’re going to have to work with the aspects of politics that aren’t going well, maybe in your local market or even in the world.
Be a problem solver and critical thinker
And I think those who are problem solvers and critical thinkers, they’ve been doing this for a while. They haven’t waited for some sort of government program or opportunity that’s handed to them. They’re out there making their own success. And so I believe that K-shaped economy says long term permanent vision with ongoing and tactical investment. That means investing in marketing, having a sales process, improving your customer experience both online and in person, depending on what kind of services or products that you offer. Whereas a K-shaped recovery is in some perspectives, waiting for things to get back to where they were and what they used to be. And if I can be really frank, I don’t know that that’s realistic. I think that having a forward thinking perspective of your business is likely what’s going to provide you the best short term and long term results.
So that’s why I say a K-shaped recovery is perceived as short term, right? Just like a recession is, whereas a K-shaped economy allows you to think a lot deeper, a lot broader and a lot longer. So I’d love to go deeper in this and continue to educate you on how to use the economy to your best and to make it something that’s successful for you and improving you and your business. And I want to encourage you to keep going to make the most of every opportunity that you’ve got. And if I can help and give you some insights along the way, feel free to reach out. Let’s talk, soon!
Create the life and business you wish you had, now! KK FIT TIP #1166