Temperature or Tides? Wants or Needs?

Your business borrowers are making big decisions in very 'confused seas'. Is it time to:

• Rehire workers?
• Add to production?
• Beef up inventory?
• Market more aggressively?
• Borrow money?

Last weekend I planned to take the kayak out for a trial run. I moved the seat forward and wanted to see if it improved my stroke.


Tide was the highest early in the morning and in front of my house, putting in at high tide is easier. But, ah, this is the Pacific Northwest. The day would be at it's warmest around 2pm...maybe up to 55 degrees!

• Was tide or temperature the most important factor?
• Since I can know tide with certainty (I can look it up on charts or just look outside) but cannot know the weather with certainty, should that impact my decision?
• How much more difficult would it be to put in around 2pm, the scheduled low tide? I'd have to carry that kayak across mud to do it. Isn't that why I bought a 34 lb boat?
• What is the benefit of getting it out of the way (early morning) versus getting sidetracked (or comfy in front of the fire with a good book) later in the day?
• Does the fact that I can do something about temperature (wear more clothing) and cannot do something about tide come into play?
• Is it time to take low tide out of the equation by buying portable wheels?
  

Look at the steps your businesses and business borrowers are taking as we move into the recovery. Most decisions will have some certainty and some uncertainty. Sometimes quick action is the best move and other times holding off will be better. It is uncertain which is best in each situation.

As the business lender, you may be called upon to pass judgment on the results of this borrower's decision-making when you consider their next loan.

As the business owner, you may be reluctant to share all the false starts, missed opportunities or initiatives that just did not work.

But if a business is not willing to suffer a setback right now, it may not be taking any action at all. That is probably the wrong move, too.

• Did I go out in my kayak?
• If I did, when did I go?
• Tides or temperature...what do you think?
•  Email me and I'll tell you!