To date, many people including experienced entrepreneurs don’t understand the economic cycle. In other words, while they may know the source of the money that circulates, they lack the accurate knowledge on how the money affects millions of businesses set up across the world.
However, one man has a full understanding of what the economic cycle is. That man is Stephen Bittel, the CEO and founder of Terranova Corp. Like many other entrepreneurs who might have a clue on the economic cycle, Stephen Bittel has been running successful businesses for nearly 40 years now.
Bittel has remained at the forefront as the South Florida real estate has developed. Stephen Bittel is a Miami native and has taken part in as Board of Directors in the Chapman Partnership which is a Miami-Dade Expressway Authority. He also served as a guarantor for the Greater Miami Chamber of Commerce.
In a recent interview, Stephen Bittel mentioned that what many people don’t know is not hard to know. On his part, to better understand the economic cycle, it is better to break down the whole subject into four sections.
Stephen goes ahead to mention the four sections namely expansion, being the first phase, then peak, which is followed by contraction before the phases end with trough. “In all these phases, there is distinct difference. Anyone who has been in business knows or will certainly know that he or she has moved from one phase to the other,” says Stephen Bittel.
The Terranova Corp CEO continues to elaborate what each phase of the economic cycle means. “At expansion, which is the first phase, all businesses are trying to lay ground. During this time, everyone in the team is using energy and all the resources to make it happen. Whether there are sales or not, everyone is motivated. Then comes peak, where a company gets many clients and the sales are good.Visit this page on LinkedIn, for related information.
Employers add employees,” says Stephen Bittel. “The last two, contraction and trough are usually tough where the business starts to shrink with no sales and layoffs,” Bittel concludes. Based in Miami, FL, Stephen Bittel founded Terranova Corp in 1980, a real estate company with strong local connections.
Additional information about Bittel can be found on https://therealdeal.com/miami/2021/07/09/stephen-bittels-terranova-buys-corner-property-on-miracle-mile-in-coral-gables/