The economy is under constant assault. New business models threaten your community’s largest employers and new technology threatens entire industries. Cities, states and nations are competing fiercely for new jobs and investment.
Just as the human body and military institutions have to strengthen their defenses to fend off attacks, you can study and prepare for predictable enemies of economic growth. You can also prepare for the unknown by proactively diversifying and building protections for your economy.
Defenses become truly effective when they encounter the enemy. To strengthen yourself for the fight, it is important to start with an honest examination of your vulnerabilities. Are you dependent on one industry? One company? One critical asset?
It is also necessary to ask which actions you can take today to address those vulnerabilities without weakening your current economy. It is never too late to begin.
Finally, ask what would happen if you did not take proactive action. In medicine and the military, the impact of being unprepared can mean life or death. With regard to your economy, it may not be that dramatic, but it could affect the well-being of thousands.
One Columbus Update
- The One Columbus team has returned from a fruitful business development mission in Japan. Thank you to the partners that joined us on the trip.
- On Wednesday, Kenny McDonald will provide the keynote presentation at Columbus Business First’s Smart Strategies event.
- Next week, our team will embark on its next international business development mission to Korea.