Dear E-Myth
Reader,
The results of our most recent poll underscore the fact that the current credit crunch has hurt
more businesses than it has helped. Here are results from those responding to our poll
question 'How has the current credit crunch affected your business?'
49% Neutral
44% Negatively
6% Positively
A substantial number of our readers are in the building trades, and these results are
consistent with the slowdown in the housing sector. A silver-lining on this cloud is that slow
times are good times in which to reflect on core business issues, and strategically re-invest in areas needing attention. Along that line, we hope you take advantage of our year-end special offers on E-Myth programs.
The Big Thanksgiving Picture
The credit markets continue to stumble, and the housing slowdown and rising energy costs have kept the stock market volatile. The Fed expects unemployment rates to rise slightly over the next year as repercussions of the credit crunch continue, and they sit alert for signs of inflation. But not all economic news is bad; four sub-prime mortgage lenders (Countrywide, GMAC, Litton, HomeEq) announced today that they
would keep ARM rates low for California borrowers with good payment records and documented difficulty making higher payments. The number of new unemployment
claims last week is down, and the overall labor market is robust, with unemployment running at
4.7%, low in historical context. The technology sector also remains strong, and momentum
continues building for green solutions.
This Thanksgiving holiday will serve a portion of uncertainty, but flavored with optimism as well.
On The Website
On December 6 we'll host a Virtual Training Seminar on 'Documenting Systems'. Check the Calendar for details.
The Instant Business Evaluation at the E-Myth website
is still running. At your request, an E-Myth program advisor will discuss your results with
you at no charge. On the front page, check out real-life small business success stories
in 'How We Did It', clients speaking in their own words about E-Myth Mastery. The new
poll question is 'What percentage of your holiday shopping will you do online?' Let us know at the E-Myth website.
With Warm Thanksgiving Wishes to You,
The E-Myth Team
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My E-Myth
