Today business opportunities are growing, and they will explode over the next year. Let me explain this a little bit. First, I did postpone, I apologize for that. I postponed a few days for this episode to come out because I wanted to wait until the dust settled after the election. At the end of this episode I want to wrap everything up together so you understand why this opportunity is so big, literally for everybody who wants to start and build a business. It doesn’t mean business is easy, but at the end I’ll wrap it up and put it into a tight package. At the end I will go and explain a little bit more about how growth really happens, and why you can count on it and why you should feed into it.
First, this is a great opportunity to start a business or to look at expanding your current business. Why? Because the economy in 2017 at some point should start growing fairly well and fairly rapidly. There’s going to be a lot of changes, and the changes are all towards the growth of economy and growth of business. I’ll discuss that a little bit more and I’ll discuss some of the things that are happening in specific industries, but more importantly, it doesn’t matter where you are because whatever you’re doing there could be opportunities that are expanding now and you could be one of the ones to fulfill that demand. (see episode 67, ‘Developing Business Ideas')
Back to the episode. Whenever there’s great change, there’s always opportunity, and that’s what gets into business ideas and business opportunity. It is a unique opportunity today in America because of the change. Whether you like or don’t like the candidates, who cares? Let me remind you of something that happened to me a long time ago. I want to give you an opportunity, get off the Xanax or whatever anti-depressants you might be taking, and just move forward. Remember that all of this is done and then it’s over.
Focus on your Future Business Opportunities, Leave Past Behind
What happened to me in high school was during my last year, my senior year. We were had Shakespeare in English class, so the whole year was devoted to Shakespeare. During that time, I was always wondering, because I would take an exam and of course, like most people, after the exam you start thinking: “Oh, gee, I wish I had thought of this, or if I did that, or had wrote that. Or I should have done this a little better,” or something like this. You end up literally wasting a lot of time after the fact when you should really be studying for your next exam. You don’t dwell on what’s already done. What I ran across in one of Shakespeare’s plays was: “What is without remedy should be without regard. What’s done is done.” So whatever is done is done, it’s without remedy, there’s nothing you can do about it. Move on, get going. I wrote that exact quote on an index card, posted it on the wall right in front of my desk. Whenever I started to think about what had happened, rather than focus on what I was doing for the next event, the next exam, or the next career goal – I just looked at that and immediately refocused myself. Do it, take that as a little bit of advice for yourself. Put it down on something so that you can use it the same way.
As I mentioned, and I’ll repeat: Change brings opportunity. Why? Because everybody is acting a certain way, and as the tide shifts, and the seas ebb or flow, you have new opportunities that come up, particularly with this particular change. It is very different. We’re embarking on a grand opportunity, particularly for small business. Small businesses potentially have a great deal more opportunity. There'll be a lessening of regulation, there’s no question about that. That includes on banks. How does that help an individual? Well, the intent of some regulations were to rein in banks. But what happened without realizing what some of the effects would be is it put a lot of pressure on the small banks and the local community banks, which were hurt severely and that meant that they couldn’t loan to small business, and small business has difficulty in finding funding.
Now, I’m going to give you a warning, too, because I tend to work on cash in the sense that I don’t like people to go into debt for things. However, there may be certain things that you would want or need money for in business that would be quite reasonable. Just be careful: You don’t want to be owing yourself in a variety of different ways. I prefer to buy as much as I can with cash rather than having any loan whatsoever.
What other things will happen? The energy sector will change tremendously. You can expect gas and fuel prices to probably stabilize or even go down further because there’ll be expansion. You can be sure that the pipelines will be approved, so that must push downward pressure on prices. It will also help with the balance of payments between our country and other countries because we won’t be buying as much fuel and bringing it into this country.
There’s going to be a focus on growth. Growth is the number one way to bring in revenue for government. There’ll be infrastructure spending, that’s going to increase. It didn’t matter who was going to be elected for that, either one was going to have quite a bit of infrastructure spending to repair things, so that’s going to impact anybody that services it or is in the area where it’s done.
Interest rates, though, I’m a little tentative on this. There’s two problems. One of which you expect, and we do expect them to go up somewhat, so you might want to do things now rather than later. For example, I just sold my house. It was an opportune time to do it, and there were other factors involved as well, but secondly, they can’t let interest rates go too high. Why? Because of the debt. The national debt is so high… When you’re talking about 20 trillion dollars, do you realize that at a 5% interest rate, that would be a trillion dollars per year in just interest debt burden? Right now it’s 400 billion, but that would be a trillion dollars. That would be almost difficult for us to pay; if not, impossible to pay. But you have to pay it, because otherwise you’ve defaulted on your loan so you have to pay at least the interest.
But this growth that comes about will supplant a lot of other problems in the economy. Here’s what happens, and here’s where you can think of other things that can affect you on many different levels of small business opportunities and why it is. Growth actually begets more growth. Let me explain that. Every person who gets a job, any kind of government assistance or any kind of subsidy they were getting is eliminated. They’re getting income instead of assistance, so you have government costs going down from assistance, and then from the income tax revenues are going up and consumer spending because everyone who gets a job and gets more money is going to be spending more. Increased consumer spending increases demand for a lot wider assortment of goods and products, which then increases growth. So growth begets more growth. This affects everyone. As income increases, businesses can spend more and can sell more, satisfying consumer demand.
What you have to do is pick the products and the industries, and see what you’re interested in to see if there’s something specific to changes in regulation which are going to be decreasing, or that you’re just going to be looking to satisfy and have an opportunity to start a business at a time when the economy is growing. Everybody makes more money when the economy is growing, and everybody can get more customers when more and more people are working. That’s the idea behind growth.
Take this golden opportunity, if you were thinking about it, and start thinking real hard and carefully about what you’re doing, what you might want to do, and how it fits into consumer demand or business demand, and how you can satisfy them. Thank you very much.
Let me know what you think. Send me a comment, send me a private message on Facebook, whichever, or an email on Life Unsettled, you can even send me a voice message. It is time for great business ideas, but even just good business opportunities and ideas can succeed well in the coming environment. “Just Do It.” Thank you very much. Bye.