It seems Inflation is here to stay for all of 2023. With energy being the driving force and no obvious solution on the horizon to make it either more efficient or more available... We must stop and ask ourselves; What comes next?

Currently, the discussion looks as far into the future as a date range of 2030 to 2050. Yes, Solar and EV solutions are moving at decent paces but Storage of Energy and setup of a charging station network still have a long way to go. This is not even mentioning other alternative resources. 

Globally the demonstration of Fossil Fuels has taken more energy and money out of future development, not even considering the planning of it. As long as there is no clear path forward regarding supply + demand, the fear-mongering surrounding a disappearing planet will have a major impact on inflation. 

At the moment, we are not hopeful that this will end quickly, and even if there is consensus, it will take until 2024 for a positive impact on the Economy. 

So for 2023, we at CHV Group still believe we will avoid a real recession (negative GDP) but will most likely limp along around the 0 – 0.5 GDP growth mark, with the 1% in the last Quarter an optimal outcome.

If you are a recession-proof, or even a recession beneficiary business, then the answer is nothing. Although some valuation reports may be showing a decline in multiples, as long as your cash flow and EBITDA remain the same you should even fare well, if not better. As long as your buyer has the cash and no need to borrow, this could be a great option. 

For all the others, conduct scenario planning, correct size early, and most importantly defend the bottom line. We recommend a review of your strategic plan, no matter the size of your company. Analyze the present and charter the path forward. For a planning guide, call or email us.

Build your Team based on strengths not weaknesses. Further, let them work in cross-functional so that they can complement one another’s skills, while also improving as a whole. Here is a related article from MindTools:

-- Link to full article – Please reach out if you’d like a PDF version sent your way.

“Most managers struggle to handle their tasks, and those of their team members, in a way that makes the most of everyone's skills and abilities. Maybe you're one of them!

For example, let's say you have to compile data for a key report, but data has never been your specialty.

Chances are, someone else in your team has precisely the skills you need – and they'd jump at the chance to put them to good use. Strengths-based leadership can help both of you to achieve your goals.

In this article, we explore how you can use this approach to develop yourself and your team members. We also examine its benefits and drawbacks, and see how it can make you a more effective leader.”

What Is Strengths-Based Leadership?

Strengths-based leadership is the ability to identify and make the best use of your own and your team members' strengths.

Of course, this doesn't mean that you, or your team, should avoid learning new skills. But you should feel able to delegate tasks that aren’t within your skillset to others who are more skilled or experienced.

In their 2009 book, "Strengths Based Leadership: Great Leaders, Teams, and Why People Follow," workplace consultants Tom Rath and Barry Conchie argue that the most successful teams possess a broad range of abilities. [1] When you know each of your team members' key strengths, you can apply them in a way that benefits the team as a whole.

Why Is Strengths-Based Leadership Important?

A strengths-based approach can benefit your leadership and your team's performance in several ways.

First, admitting that you need help, and accepting it from your team members, promotes not only effective delegation but also a consensual or "laissez-faire" leadership style. Asking for help is a sign of strength, not weakness, and it enables you to concentrate on what you do best.

Sharing responsibility can also stimulate creativity, innovation, and a sense of mastery and purpose within your team.