This is a question that many will be asking. At least those who have not already opted out because their minds apparently can only accommodate things about how to get ripped or similar…
Let me explain why I believe this economy stuff is relevant to you. In years to come you can look back with the strength of hindsight and judge how relevant this is…
Here’s a brief economic lesson to give you an insight into why many believe challenges in the US economy will affect the world economy, and how they might affect your economy.
The US is the greatest consumer country in the world; some suggest accounting for around 50% of the world’s consumption. When the US contracts, demands for goods drop. Most goods are now produced in China and other parts of Asia. So whilst the Asians economies are stronger than the Europe and Americas, they stand to contract on reduced demand for goods.
The countries that make their money be exporting raw minerals to the production countries will have less demand for their resources, and in turn they will contract. Australia is a great example of this, where Australia’s economy is closely tied to the demand from China for its resources.
So the challenges faced by the US, with its 17 trillion dollar (and that’s just the Govt debt – some suggest the combined real debt is in excess of 40 trillion) debt and growing – are a potential trigger for serious economic downturns in all countries.
Now what’ that got to do with you as a physical preparation coach you ask?
If you have clients, and their incomes are threatened, you will suffer a reduction in demand for your services. Your income stands to drop. The only buffer will be having really, really wealthy clients, and even during the 2006-2010 period, many learnt that your high net worth clients weren’t so financially stable as you thought.
If you have a lease on a facility, and your suffer reduced income, you are going to face an additional challenge in being able to pay the lease payments owned on your facility.
If you are relying on your assets to secure your loans, and your assets take a serious tumble in value, you will be under scrutiny from your lenders.
That’s what I think it has to do with you as a physical preparation coach!
If that concerns you, and if you have not already done so, click here to learn more: http://bit.ly/gettingreadyfor2016
We can all look back in the years to come and ask - was I on track? Did i do enough?
PS. We've had an offer on the table for nearly 3 wks now where we have offered to rebate 10% of start up costs for new business in a particular offer. Offer ends 11 Sep 2015...