In another piece from Inc. Magazine’s Stephanie Clifford, entrepreneurs give their two cents about specific economic indicators, and how they think they will affect their companies in 2007.

Among the factors that entrepreneurs ought to consider:

1. Logistics – “The Shipping News” – Consider opening more warehouses and other methods of lowering costs related to long-term transportation logistics
2. Communications – “Get Hip to Blogs” – Consider blogging to be a “huge, free focus group,” and utilize such for demographic research
3. Energy – “Go Green” – Consider budgeting for higher gas and fuel costs, but also consider implementing sources of renewable energyConsumer Products – “The Wal-Mart Backlash Continues” – Consider competing on quality and service rather than on price as many retailers tend to do
4. Consumer Products - "The Wal-Mart Backlash Continues" - Consider competing on quality and service rather than on price as many retailers tend to do
5. Real Estate – “Blowing Bubbles” – Consider budgeting for higher commercial rents and rising interest rates
   

Which of these indicators is Panera Bread CEO Ron Shaich tracking? “None.” And why? “They’ve never proven to correlate materially with our business.” Also agreeing with that line of thinking of Sun Microsystems CEO Scott McNealy who said “We don’t really look at economic trends of whatever.” Ditto for Xpress Source CEO Mike Pierce: “We see things happening much quicker than the analysts.”

However, the fourth factor raises some good points, specifically that not all consumers prefer quantity to quality. Relating that to your workforce, for the same amount of money, would you rather have four workers that are “OK” or two workers that are “Excellent?” If you are indeed looking for those two excellent candidates, then you ought to consider where it is that you’re looking for these new recruits. Are you putting an ad in the local Pennysaver, or are you recruiting on-campus at top-notch universities? The logistics, communications, energy, and real estate can all be worked around in today’s ultra-hip and rapidly-changing environment, but a loyal, qualified, and productive workforce cannot.

So what are your company’s goals and hopes for 2007? We’re all ears…feel free to post ‘em!

In the meantime, BRANDEMiX wishes you and those around you a Happy New Year. See you in 2007!

Labels: Forecasting, Recruiting, Trends