“A hard trend is a predictable, future fact that you actually can rely on. ” This is a fascinating podcast. Transcript linked as well. Using hard trends as a tool for planning applies to CPA firms, CPAs in industry, and those who look to CPAs for strategic consulting.
“There’s a whole lot of things we can’t predict, like what’s the stock market going to do today or the price of oil, which we’ve been living through really a lot in these days, or vacancies in real estate. You name it, those trends. But there are some trends that are actually predictable and once you know what they are, the theory is — Dan would say — focus on the things you can be certain about — the hard trends — before you worry about the things that you can’t predict. “
“But this cycle will get over, so one of the things we should all be looking at is the certainty that the coronavirus will end, some way and some time. Once it does, we will be in the next phase. The other part though, three hard trends — regulatory and legislation, which is right up the CPA alley. Two is technology. Three is demographics. “