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The Economy and Its Impact

Posted by [email protected] on 09/15/2026 12:00 am  

BUSINESS TIPS FROM THE EDITOR

September 2026

Richard T. Hendee, Editor
The Silver Fox Advisor

                          “The Economy and Its Impact"

 

If you follow the economic news and read the economic forecasters’ articles, you are likely getting or hearing some conflicting information. Some economists tell us the economy is great, and the next big boom is right around the corner. Other forecasters tell us to hunker down and get ready for the next big belt-tightening. Who should we believe? In most cases, only time will tell. But if you don’t want to be a gambler with your business’ future, you might want to do some internal and external fact-checking and analysis. 

Here are a few suggestions you might want to consider:

  1. Customer buying behavior – Are you seeing your customers in your business more frequently or less frequently than a few months ago? If your customers are in more frequently and they are buying more, one could conclude that they must feel good about their financial position and are spending more money. If the opposite is the case, then your sales and probably your future sales will be slowing down, and maybe you should look at cutting inventory levels and/or expenses.
  2. Increase in your operating costs – If you see the costs of the products you are selling increasing over time and you are not passing those increased costs on to your customers, then your profit margins are shrinking every time you sell a product.
  3. Pricing strategies – If you are having to lower your pricing on the products or services you are selling just to make the cash register ring, that could mean your customers do not have as much money available as they once did, or maybe competitors have lowered their pricing (you should research the why), or possibly you have priced your products or services too high to begin with.
  4. Market research: Check with your own family and friends to determine what their present buying habits are and if they have changed over the last few months. Are they dining out less often than they did a couple of months ago? Are they finally taking that dream vacation they have been talking about for years? Are they driving their cars longer than before, or did they just buy a new, bigger luxury vehicle?

Keeping your pulse on what is going on around you is probably one of the smartest things you can do as a business owner. Further, it is likely even a better indicator than the predictions you hear about on the news or read about online, opinions written by individuals not living in your neighborhood or working on Main Street USA. If you are a small business owner and trying to figure out what’s right for your business and you are getting overwhelmed, think about seeking some advice or assistance from someone who has been there and done that before. Think about contacting one of our professional Silver Fox Advisors who can provide guidance as you work on your business, not just in your business. We encourage you to visit our website at www.silverfox.org. There, you can learn more about selecting a Silver Fox Advisor to engage to assist you.

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