Economists are predicting a mild recession in 2024. That means small to medium-sized businesses will have to work a little harder to stay profitable and successful. Luckily, we're breaking down three things businesses can do in 2024 to maximize opportunity and set their businesses up for 5-6 years of consecutive growth.

The healthcare industry stands at a crossroads. In the digital age of wearable medical devices, telemedicine, and AI and machine learning revolutionizing the way we receive healthcare, providers face a labor shortage crisis, aging Baby Boomers, and burned-out doctors, nurses, and support staff still reeling from the pandemic. It’s not hard to see why healthcare professionals, providers, and organizations need all the help they can get. No matter the economic climate, everyone needs healthcare. Find out how business coaching can help your healthcare organization thrive despite all of the uncertainty.

Why Use Leading Indicators to Plan Ahead? Using accurate forecasts to inform your business strategy is a fantastic way to eliminate unnecessary risks to your company and make the most of future opportunities. But, as a business leader, you have options as to who you work with and where you get your forecasts from.

As any business leader can tell you, plans can change at a moment’s notice. Sometimes you do not even have control over what is changing, and the resulting impact on you and your business can be a tough pill to swallow. Over the last few months, there have been some big changes happening in the US economy. Your company’s plans might be set, but businesses need to be willing to shift along with the various shifts in the economy. Of course, this is easier said than done. So where can you turn? The Great Game of Business can help revise and refocus your business strategy with the help of our proven processes.

Creating your business strategy is no easy task. So much of your time, effort, and resources go into it, and you don’t want to waste any of that by doing it the wrong way. In fact, strategic planning without accurate data behind it is pointless. But accurate data is where the experts at ITR Economics come in, helping you make your strategy the best it can be. Let’s take a look at how ITR Economics’ unique methodology can provide your company with the best business strategy.

Paint an objective picture of your business by bringing the marketplace to your people One of the overlooked strengths of any company is its ability to look ahead. It’s not enough to see how it’s performing now or even what it has accomplished in the past. You need to constantly look to the future.

Talent is scarce and it’s going to get scarcer in the future. The value of companies will soon be tied to the value of their people. The ones with the best talent strategies will dominate their markets in the coming decade.

Zig Ziglar said “If you aim at nothing, you will hit it every time.” How many of you have no plan and no goals? How many of you have objectives and goals but no plan on how to achieve them? One more question and this is the most important. How many of you have objectives and a plan, but do not measure the results and actively share them? This is no different than the two teams that finally make it to the Superbowl only to find out there is no scoreboard, no timeclock, no down marker, nothing to measure how each team is doing and who is winning. Don’t underestimate the importance of Objectives, Goals, Strategies, and Measures. They drive results. They provide a roadmap for the organization. They also provide clarity to every single employee.

Tom DeSimone, Director at Prairie Capital Advisors, Inc, joins to share the shifts his team witnessed during the pandemic, and how focusing on 2021 and not 2020 to ensure stability in your company.

Employee-owned businesses have experienced significantly fewer issues with employee retention than their non-employee-owned counterparts. I can’t remember a time in my career when employee retention was talked about more often than it is now. Even personally, I’m one of those Great Resignation statistics. In late 2021, I resigned from my position in local government to take on the role of Executive Director of Missouri Center for Employee Ownership, Inc. (MOCEO). Like many members of the American workforce, the pandemic pushed me to reevaluate my personal and professional priorities. So, when I joined MOCEO, I was very interested to learn what effect employee ownership had on employee retention. So, as soon as my second week of work, I began asking every executive of an employee-owned business I met, how their business model impacted retention. With very few exceptions, the general response was that retention wasn’t a significant issue.