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Control Your Business’s Destiny With Economic Forecasting

Jul 13, 2023 by ITR Economics 0 Comments

Control Your Business’s Destiny With Economic Forecasting

Every business goes through its highs and lows. But what if I told you that your highs could be even higher and that you could avoid some of your lows altogether? Whether you are just starting your company or have been leading your team for decades, your business can benefit from having accurate economic foresight in its planning. With the right data and tools at your disposal, you can take your business to much greater heights than you thought possible!

Proactive vs. Reactive Leadership

Many business leaders take the “if it isn’t broken don’t fix it” approach to running their company. With years of experience and some successes under their belt, it is easy to see why they would avoid change and stick to how they have always done things.

Unfortunately, this method forces too many business leaders to react to the ups and downs of the economy rather than use those future changes as a tool to improve their company’s bottom line.

For example, toward the end of 2023 and through 2024, many business leaders will find themselves struggling to pivot their companies to deal with the forecasted recession. However, thanks to our accurate insights, many others already have their plans in place for 2024, and they are already identifying ways to push their businesses ahead with the opportunities following the recession.

With our team of unbiased, apolitical, and business-minded economists, we help you and your team see the future for your business, markets, and industry. With these insights, you will be able to lead more proactively, improve your efficiency, and better inform your decision-making.

Whether it is implementing new technology first, exploring a new market, or even hiring the best talent to accommodate the next rise in demand, you will find several ways to jump out ahead of your competitors, gain market share, and increase your bottom line.

[ Further Reading: The Importance of Sales Forecasting ]


Why Should You Trust ITR Economics and Our Methodology?

ITR Economics is the oldest privately held, continuously operating economic research and consulting firm in the US; we have offered industry-leading economic insights, forecasts, and strategy since 1948.

Since 1985, we have maintained an overall forecast accuracy rating of 94.7% at one year out. Unlike other firms, we are always willing to share our scorecard with anyone. You can hold us accountable.

In just the past few years, businesses have had to navigate obstacles such as misleading news headlines, inflation, higher interest rates, supply chain issues, and so on (and on). The 2020s have already been a difficult decade for businesses, and that pressure will not be letting up anytime soon.

ITR Economics provides insight into your industries and key markets, with a look at their health and performance years into the future. We can also help you build a strong five-year plan for your business based on our proven business cycle theory.

Do want an in-person look at how ITR Economics makes its forecasts? During The Great Game of Business’s upcoming 2023 conference this September, you can get a hands-on look at how we use leading indicators to build our accurate forecasts in a fun MiniGame™! This is an event you will not want to miss – we hope to see you there!



The Great Game of Business is a proud partner of ITR Economics! As part of this partnership, ITR Economics provides access to exclusive discounts on their subscription services. Use code "GGOB" for 10% off our online offerings, include the ITR Trends Report™, DataCast Essentials™, Executive Series webinars, and your first month of an ITR Insider™ membership

Use code GGOB for 10% off our online offerings, include the ITR Trends ReportTM, DataCast EssentialsTM, Executive Series webinars, and your first month of an ITR InsiderTM membership.



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Topics: recession, Economics, business economics, 2030 great depression, economy, business opportunities

ITR Economics
Written by ITR Economics

Since 1948, we have provided business leaders with economic information, insight, analysis, and strategy. ITR Economics is the oldest privately held, continuously operating economic research and consulting firm in the US. With a knowledge base that spans six decades, we have an uncommon understanding of long-term economic trends as well as best practices ahead of changing market conditions. Our reputation is built on accurate, independent, and objective analysis.

More than 376,500 Times the GGOB Blog Has Been a Trusted Source for Information on OBM

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About The Great Game of Business

Our approach to running a company was developed to help close one of the biggest gaps in business: the gap between managers and employees. We call our open-book approach The Great Game of Business. What lies at the heart of The Game is a very simple proposition: The best, most efficient, most profitable way to operate a business is to give everybody in the company a voice in saying how the company is run and a stake in the outcome. Let us teach you how to develop a culture of ownership, where employees think, act and feel like owners.