New Year Predictions – Have Caution

‘Tis the season when it’s common to see predictions for the New Year. It is important to keep the following in mind when reading predictions; whether business, economic, personal or trend related.

Predictions allow for an open interpretation of data

Those making the predictions are allowed to pick and choose whatever data and facts they like and manipulate them to support their prediction of the future. This allows us to find a prediction that matches the future we are looking for. For example, if a retailer is looking for growth in their market, they can likely find a prediction that says 2015 will be a great year for retailers.

Facts are optional

Some predictors prefer to rely on only their isolated beliefs, perceptions and crystal ball gazing ability. When a prediction is a figment of a vivid imagination, it can be wonderfully comforting and dangerous. For example, imagine a retailer reading a prediction of growth in their sector, so they may be inclined to sit back and look for these profits as opposed to innovating or improving the customer experience.

A lack of accountability

There is no accountability to review or even remember past predictions. This is a common attribute about predictions and prediction making. The retailer expecting growth based on a prediction that didn’t come to fruition has no one to blame but themselves for believing it.

The best predictions…

Make your own prediction that is aligned with your personal dreams and business goals.

Here is my personal prediction: It’s going to be the best year yet because we’re aligning our personal and business goals with a strategic plan of action to make it happen.

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Author: Paul Foster
Paul's life’s purpose is to bring more cash, freedom and happiness to independent business owners. Paul wants to learn about your toughest business challenges and frustrations so he can help you tackle them.