Economic progress is slowly ebbing along, more sideways than upwards. The stock market rally has given us a sense of hope that things are turning around, yet economic growth has been relatively flat for some time even though the unemployment rate is near all-time lows. This article was first drafted in the fall of 2011. It’s amazing that after a decade we find ourselves in a similar economy. You’ll recognize the parallels to our situation today. The remedies outlined at the end of the article are still highly relevant in today’s economic environment.

Muddling through - Mixed signals in the economy make decision making difficult for manufacturers.

It’s clear as mud.

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For many companies, asking for investor dollars can be intimidating: after all, it requires a company to parade itself—exposing some of its most confidential information: its strategy, customers, financials and operating practices — to outsiders. But bringing in a consultant early will help you identify the gaps and weaknesses, as well as hidden strengths, before the investors get the chance. Forewarned helps you get forearmed when it comes to raising capital.

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A few years ago a drought in Brazil caused a surge in coffee prices, affecting businesses a world away catering to latte-loving crowds. As the cost of coffee beans doubled, Starbucks was able to maintain its profitability—without raising prices—because it had locked in a year’s worth of supply at pre-drought prices. Green Mountain Coffee Roasters wasn’t as lucky; rising costs threatened its ability to turn a profit. Situations like this highlight the fluctuating nature of raw material prices - and the importance of “buying right.” This is especially true when a large portion of your raw material is made up of a commodity; for example, metals, energy, grain or coffee beans.

Today we are faced with a trade war and supply chain disruptions that are creating widespread volatility in raw material prices in addition to shortages.

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Executives planning major expansions or capital projects need to take measures to optimize their chances of success. In many cases, they only take steps to guard against failure while leaving the most important measures out.

When preparing for investments or expansions, executives should consider the following:

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Planning for upturns and downturns in the business cycle can mean the difference between prosperity and failure. Forewarned is forearmed, and business executives should plan for the worst as well as the best.

There are three fundamental steps one can take to ensure their companies not only survive but thrive during economic turbulence.

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