“Confidence is preparation. Everything else is beyond your control.”
Our economy is reliant on confidence and faith in things like our currency, the housing market, etc. The faith of the U.S. consumer is legendary, not only driving companies within the country to expand and bet on the future, but also causing investment to occur around the world to serve it. We trust our currency, our financial institutions, and our employers.
Some different ways to look at this confidence include the famous Edelman surveywhich indicates that trust in business is high, particularly for “my employer,” as we come out of the global crisis. This is an opportunity and responsibility for business leaders to use this to build their brands, compete for talent, and help lead locally and globally. Also, take a look at our trade imbalance. There are definitely negative implications of this, but it is evidence of the spending of the U.S. consumer being fed by the global economy. Finally, this Gallup poll points to our steady confidence in the direction of the country and faith in our economy.
Having confidence in your local economy is also important. As leaders, the best way to have confidence in it is to engage, to help build, and to get involved. The best communities have the most people involved in the process of deciding how to use their resources and are the most intentional about how they do it to ensure the most benefit.
Let’s continue to do all we can to build trust, add value, prepare for the future, and lift others up this week.