What Can Business People Do about the Slow National Economy? Show Kindness.

"What can you do about a slow national economy?"

This was the last question asked of me at the end of an economic outlook presentation to a small town's chamber of commerce. I had just spent 30 minutes describing the United States' slow-growth economy — in which sub-2 percent economic growth has replaced 3 percent growth — as well as the major economic forces affecting the nation, the region, and the area's economies.

Earlier questions were somewhat predictable for sessions like this one: "What about all the uncertainty being generated by this new Trump administration?" "Should we build the wall?" "How do we kick China in the teeth?" "Are border taxes the right approach?" "Will Mr. Trump's actions generate a trade war?" "What will the Fed do about interest rates?" "Is another recession in the works?"

But the last question was different: "In the light of what you have said about the 2017-2018 slow-growth economy, what advice would you offer to business people in our community?"

I must admit that I hesitated a bit while reflecting on the question. But then, my answer formed rather quickly: "Forget about the nation's slow growth economy," I said. "What matters is your economy, your firm, your business, and what you can do to make it stronger. Just because the nation's GDP growth is slow is no reason for your business to be slow."

I spoke for a few minutes about any firm's most valuable resources (their people) and how showing respect for and encouraging employees and colleagues could help turn a slow business into a faster one. I mentioned the rule I had tried to apply when I managed a firm: After you have made your last call or sent your last message to a customer thanking them for their business, make one more.

I suggested that every business person should rediscover the importance of gratitude, writing thank you notes to employees, suppliers and customers when good things happen.

As these thoughts turned in my mind, I recalled something I had read by Clayton Christensen about how we can make our lives more meaningful, in "How Will You Measure Your Life?" In addition to being an expert on world innovation, dynamic capitalism, and disruptive technologies, Christensen is also an expert on how to develop and convey brands.

Christensen has described ways families can build their own brands — the reputations that family members become known by. Drawing on his own experience, he told of how the Christensen family decided to make kindness their brand.

Kindness was the word I was searching for.

I ended my answer to the question with this thought: By showing respect for our employees, colleagues, customers, and suppliers and by demonstrating kindness in our day-to-day interactions, we can build stronger and happier enterprises even in the face of a slow national economy.

And finally, this: "Always tend to your knitting, focus on what you can manage and contribute to, and let someone else worry about the slow national economy."