How Tornados Are Good, And Bad, For Business
Before I get started, I want to say that I feel for people who lose homes, or loved ones, during a tornado. Tornados are not a laughing matter in real life, they cause real damage. And what do you do when your home is damaged? You make an insurance claim, get a check, and fix the damage.
Then how are tornados good for business? People hire companies and buy supplies to fix or rebuild their homes. Companies benefit from the spending.
How are tornados bad for business? For insurance companies who have to pay for damages, they are not so good. Although rates may go up so they may benefit somewhat from future rate increases.
You can make these kinds of speculations with all kinds of things. For instance, the population is aging. What companies does that benefit? What companies will suffer?
While these kinds of speculations benefit stock traders, they can also help business people. How? Say you are Walgreens. What strategy can you take to serve older baby boomers?
What strategies have you taken in your business to anticipate change?