Toll Interview is Telling

This morning's USAToday Money section featured an interview with Robert Toll, founder of Toll Bros., on of the largest home builders in the U.S.

No matter what industry you are in, the interview had implications and lessons for you.

Here's the take away from that interview:

• We know that interest rates are at historic lows but he believes that they may go up to the 7% range. 
• It's a great time to buy a house if you have decent credit and 20% down payment. You will not have any problem financing a purchase.
• "If the housing market stays stagnant, will the rest of the economy stagnate or even worsen?" His answer was, Yes, yes and yes. 
• The housing market employs probably more people than any other industry. Think about where people work that are affected by the poor housing market: finance, all building materials, building trades, furniture and decor, appliances, real estate. Everything from the people making and selling drapery and carpets to the folks making paint to the carpenters, the sewer contractor, cement plant and light switch manufacturer, sales person and distributor. 

What does it mean? My opinion:

• Business will likely remain soft for at least another year. 
• Whatever you do, whether you own a restaurant, car company, party rentals or build houses: be aggressive and smart. 
• You need to out maneuver and out market your competitors and get the business that does exist. 
• Whatever business you are in, there are customers albeit, in some cases, fewer. 
• Only spend money on what makes you money!