Oct. 28, 2010: Nexstar Members Receive Forecast, Recommendations for 2011 and Beyond
October 28, 2010
AUSTIN, Texas - Economist Brian Beaulieu provided Nexstar® Network member contractors with an economic forecast as well as his recommendations on how to chart their course for the future at the Nexstar Super Meeting in Austin, Texas. Beaulieu shared his insights with 400 Super Meeting attendees. He said, “We will see recovery in 2011, 2012 is going to be stronger than 2010, and we’ll continue to see growth for the first half 2013.”
Beaulieu’s recommendations for 2011 and 2012 include:
• Let go of the past and look towards the future.
• Be aggressive with your plans for the future - expand your business.
• Borrow money now and borrow so much that you can’t sleep at night. There is non-bank money available - a few trillion.
• Create a competitive advantage - identify what you do well that your customer values and do more of it.
• Increase your prices in 2012.
• Get fixed long-term interest rates because current interest rates are the lowest that we will experience for some time.
• Buy real estate in urban areas and on the water - avoid the suburbs.
• Tie 50 percent of your equity to companies outside the U.S.
To prepare for 2013, he said:
• Evaluate the markets are you selling to. Be strategic.
• The Federal Reserve is thinking about going from an acceptable rate of 2 percent to doubling it to 4 percent, so plan accordingly.
• Taxes will increase to pay off U.S. debt.
To prepare for 2014, he said:
• We’re going to hit another mild recession in 2014, so think about products and services you aren’t selling today that you could sell in 2014.
For more information on the Nexstar Network, visit www.nexstarnetwork.com. For more information on the Nexstar Super Meeting, contact Kari Logan at 763-559-6058.
Publication date: 10/25/2010