The possibility of a double-dip recession is there, but I don’t see it happening. The Canadian economy is so strong compared to the rest of the world.
I see people spending money even though there’s been a lot of talk about the economy. I’m still hoping for a really good rebound.
A year-and-a-half ago, when we were talking about the downturn in the economy, tournament bookings were way down and people were holding back. I don’t see that now. I see a lot of tournaments out there and I see people spending money.
Sure, we still have to be cautious, but I think you’ve got to live your life. I’ve been in this business 30 years and we’ve seen the ups and downs in golf, but you’ve still got to run your business with optimism and a foundation for success.
A good operator in a downturn can make money. A good operator in an upturn can make lots of money.
You’ve got to have good people. You have to give good service and good value. Nothing’s changed in the last 50 years in good times or down times.
I think it’s a matter of looking ahead at different possibilities.
You’ve got to work out the worst-case scenario and the best-case scenario. You’ve got to try and achieve the best-case scenario, but if you know what the worst scenario is, you can still make your operation work by implementing steps to deal with the challenges.
The key is being prepared for both when you’re doing your budgeting.