BROADCASTS.com

I\u2019m Josh Cooperman and this is Convo By Design with a new series called The Business X Design. I\u2019m starting this monthly addition to the show for one reason, an important reason. The shelter space, industrial design, hospitality, architecture, home goods \u2026this business of ours is one of the most important industries in the lives of those who inhabit the dwellings you design, those who work in the offices and stores architects create. Over the years and certainly post-pandemic, the business behind design has changed dramatically, but the coverage really hasn\u2019t changed all that much. I love the design publications, I do and I always have, I predict that I always will because they showcase some of the best work being done today. I\u2019m also frustrated by them because they don\u2019t show enough of it, they continue for the most part to feature exclusively the celebrity, super luxury and trendy sides of the business. I get that because that is how it has always been. But I think there is a desire for more. So, in keeping with that idea, every month as long as I feel like it serves a purpose, I am going to showcase a new episode in addition to the stories behind design, that episode will showcase how the business is changing in real time. I\u2019m going to bring you my interpretation of the data that is shaping our economy and external factors molding and shaping the state of the business today. Each of these episodes will be shorter, more concise and cover one single idea that I think you should know. With that, here\u2019s the first episode of Convo By Design\u2019s, The Business X Design.\xa0
\n
\nSo you know, the following opinions are mine and do not represent or warranty any economic or future performance. There are no guarantees here, just ideas that have been constructed based on research so I suggest that you do your own research as well before acting on any of the ideas shared here. This is what those in the business call a disclaimer and it is meant to make sure you know that I am not giving you any financial advice, I am presenting ideas in the hopes that it gives you a way to perhaps think a bit differently about this business of ours.
\n
\nWhen I record interviews, speak with clients and check in with people around the country, I have been asked one question with greater frequency lately, \u201cDo you think we are going to see a recession?\u201d I believe the answer to that question is \u201cyes\u201d but it also comes with a few caveats because that is not an easy question to answer. Why?
\n
\nWhat is a recession? A recession is considered by many to be 2 consecutive quarters of negative GDP.\xa0 I read a Forbes Advisor article recently that sourced the origin of this idea back to economist, Julius Siskin in 1974. Since so many subscribe to this idea, it has become a part of everyday conversation as it relates to the health of the US economy just like the goal of 2% inflation by the Federal Reserve. If this is true, then according to the Bureau of Economic Analysis (BEA.GOV), with negative GDP growth in Q1 and Q2 of 2022, we have already seen a recession this year. It gets complicated because Q3 saw a GDP pop of 2.9% and this is purely a guess but I think Q4 will see positive growth as well. I\u2019ll tell you why in a moment. I also have a few thoughts on what we\u2019ll see after that in the first 2 quarters of 2023 and why.
\n
\nBefore I get further into the nuts and bolts of this, Convo By Design is more than just a podcast. I have spent the past 10 years building a production company and consulting firm that develops brand ambassador programming, CEU\u2019s, live event programming as well as branded content for companies in the design and architecture industry including; designers, architects, furnishing companies, showrooms and others in the trade. We have content producer talent in every region of the country and can help you g...