You know by now that the American economy is just a little bit shaky. On Tuesday, January 22, the stock market dropped 465 points, only to recover to a loss of 128 points due to a fast save by the Fed to cut interest rates a 3/4 of a point. Reports from oversees indicate that foreign exchanges are bracing for a recession in Europe and Asia, caused in part by America’s financial markets and our threatening recession.
But it doesn’t take an economist to add up the facts. The lending market, the housing market, the falling value of the U.S. dollar, the international trade imbalance, and, of course, the huge expense of the Iraq war all add up to big challenges. And, I don’t have to tell you about the condition of “health” insurance.
The reports and financial stats are out there for you to draw your own logical conclusions.
Most of us have seen recessions before, though factors appear to be stacking up to make this recession an especially big one. But who knows for certain? It may be forestalled till after the election, or other factors may come forth and send the economy in a different direction altogether.
It is good to pay attention to current events, but you don’t want to get distracted by the fact that prosperity starts at home – in your office. The best guarantee to surviving a recession, or worse, is to ensure that your practice and business are as strong as possible. In a down economy, there may good investments to be made, but the best investment is in yourself and your business.
The demand for health care, wellness care, has never been stronger. Chiropractors are continually becoming more accepted as the leader in the wellness movement. Your big challenge is simply not to participate in any recession but to move into the leadership role you have as a health doctor, a Doctor of Chiropractic.
There is no recession in the demand for health care and wellness care, nor will there be. Making yourself well known and popular, being accessible, and providing consistently excellent service with quality outcomes will insure your future prosperity.
If you work to continually improve all functions of your businesses, you will always be able to ask: “What Recession?”
Best regards,
Ed
P.S. By the way, our old friend, Dr. Jim Sigafoose wrote about this same concept, with the same title, back in 1991. Here is his article on another web site: LINK
PSS Also, here is what Siggy says about us: LINK