The economy experiences periods of growth and recession of a cyclical nature, although it is still a hotly debated topic among economists. During expansion, there is increased employment, upward pressure on prices, and economic growth, leading to the highest point of a business cycle called the peak. Then next, the economy decreases, there is no growth, and reduction in employment. The point at which the economy hits rock bottom is called the trough; at this point, the cycle starts again.
Every entrepreneur aspires for longevity in their business; only a few people start a company without the intention of watching it evolve,and watching it grow. For an entrepreneur to have their business survive and finally thrive, they ought to be aware of the inevitability of business cycles and be able to navigate them effectively.
The founder and chairman of Terranova Corporation, Stephen Bittel, have been able to master the navigation tactics. Terranova Corporation is currently in its fourth decade in business. It has grown from Steven Bittel’s home office to being amongst the top commercial real estate companies in Southern Florida. He built Terranova from his home office while still attending law school. An art student from Miami created Terranova’s first logo. Thanks to Bittel’s leadership, the company has made it through six recessions, including the current one resulting from the coronavirus pandemic.
Steven Bittel was born and raised in Miami; he was a product of the Miami-Dade County public school system, as he attended from first grade through his senior year. Bittel decided to attend university in Maine as he sought experiences vastly different from what he had grown up with. He adapted to school demands and graduated with a degree in economics despite the overwhelming academic rigor of a private university compared to his public school education.
Connect Stephen Bittel at professional network: http://Linkedin.com/in/stephenbittel