Remember how you felt when you didn’t have the courage to ask out that cute guy/girl you had such a crush on back in school? Remember how you felt when that couple outbid you and your spouse on your dream house by just a few bucks? Don’t let that feeling creep back into your life in the corner office.
According to the University of Michigan consumer confidence survey released Friday, Americans are more confident about the economy than at any time since July 2007. UM’s index of consumer sentiment rang in at 85.1 in July—that’s up nearly 13 points from this time a year ago. Researchers said rising home prices and consistent job gains are boosting feelings of household wealth and income. While the beige book statistics coming out of Washington are consistently underwhelming, we’re putting more stock in the psychology of the U.S. consumer and business owner than what the economists’ numbers indicate.
According to the UM data, the proportion of Americans who expect their incomes to rise in the coming year is greater than at any time since late 2007. And the percentage of Americans who say they believe their home values have risen is also at a six-year high.
If your firm or business is still in “hunker down” mode—afraid to hire the help you need and too insecure to upgrade your systems and infrastructure—then that whooshing sound you hear may be your competitors (and top talent), blowing right by you. Borrowing costs (for you and your customers) will not get any lower. The financial markets, while at record highs, are still historically cheap. If you’re serious about taking your firm or business to the next level, then the time’s never going to be better than RIGHT NOW. Be a bold leader, not a disconsolate shoulda-woulda-coulda. Make your move today and go all in. You’ll be glad you did.
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