Insights

Are you concerned about the economy and your company’s prospects?

A 3Q24 survey by AICPA & CIMA indicates you are not alone. Financial executive outlooks are worse than the quarter before, for:

The U.S. economy
The global economy
Their organization’s prospects, including for growth
Revenue and profit expectations … average profit projections for the next 12 months at an almost invisible 0.2% growth

Survey numbers indicate the big picture and averages.

However, business results are NOT evenly distributed at the average.

Typically:

20% of businesses will achieve 80% of the $ and success
4% will achieve 64% of the $
And just 0.8% will achieve 51% of the $

This means about 1 in every 100 businesses will accrue HALF of revenues. The middle will muddle along, treading water at best. 1 in 5 will suffer potentially crushing losses.

… and that is in NORMAL economic times.

During a softening economy or in down times, the stakes are even higher.

The market pie may be temporarily smaller. The bottom 80% of businesses scrambling for crumbs will face economic hurricanes. Those who stay in – or move into – the top 20% will feast during the famine.

Where is your business in that pecking order?

Regardless of where you are, you don’t have to take current results as your future results. You can take action to improve your prospects.

The starting point is assessing your organization’s capability to change and adapt … regardless of conditions.

This complimentary resource below will help you do that. It has 5 pages of assessment questions to help you get started plus some suggestions on how to proceed.

How to Recession-Proof Your Business

Link to survey source