Wednesday
Dec172008
“This Economy”
Wednesday, December 17, 2008 at 9:50AM
I run into people every day who are freaking out over "the economy". It's become a little annoying to have every thought or idea preceded with "Well, you know, in THIS economy..." Which economy? Oh, you mean the economy that allows anyone with $100 and an idea to start a new corporation? The economy where anyone with a computer and a pulse can become an international retailer? Or do you mean the economy where just about any question, informational tidbit or professional resource is only a mouse click away? Which one is it?
Three or four years ago I would listen to people complain and say things like "It's tough out there. Everyone's getting into my business. These guys don't know what they're doing. They're inexperienced, but anyone can hang out their shingle and qualifications don't matter. They're just after the money. And my equipment, it's falling apart. I can't afford the new stuff because all the suppliers have jacked up their prices. The customers, they don't get it. We're all backlogged and they think they're the only person in the world I have to worry about."
Fast forward to today. No one's getting into their business. In fact, those former competitors are knocking on their door asking for jobs. In many cases the number of competitors has dropped to the point that only the most experienced, most qualified are left. "Almost new" equipment is available for pennies on the dollar. Customers burned by poor service in the past are more understanding and more willing to communicate than ever before. You would think these business owners would be in heaven.
But no, now it's "the economy." I'm not saying business is easy. I'm not disputing the fact that we are in a recession. I'm simply saying "Things change!" They always do. It's one of those certainties you can count on, like bankers having more holidays than the rest of us and three year-olds telling strangers their breath stinks. Don't fight it. Understand it and use it.
The fact is entrepreneurs need change to attain the growth rates and return on investment they are looking for. Change motivates behavior. Change gives people a reason to act. Change makes differentiation easier. Change means people are already moving, you just need to guide them in the right direction. "This economy" is presenting a lot of people with opportunities. It may require that your business model be turned upside down. It may require that you redefine your customer. It may be that "this economy" requires YOU to change. And I think that is where the grousing comes from. The people most devastated by "this economy" are those who think they are owed something. They are the ones who think they shouldn't have to change. That, my friends, is called a choice, and it's what makes "this economy" one of the best in the world.
Three or four years ago I would listen to people complain and say things like "It's tough out there. Everyone's getting into my business. These guys don't know what they're doing. They're inexperienced, but anyone can hang out their shingle and qualifications don't matter. They're just after the money. And my equipment, it's falling apart. I can't afford the new stuff because all the suppliers have jacked up their prices. The customers, they don't get it. We're all backlogged and they think they're the only person in the world I have to worry about."
Fast forward to today. No one's getting into their business. In fact, those former competitors are knocking on their door asking for jobs. In many cases the number of competitors has dropped to the point that only the most experienced, most qualified are left. "Almost new" equipment is available for pennies on the dollar. Customers burned by poor service in the past are more understanding and more willing to communicate than ever before. You would think these business owners would be in heaven.
But no, now it's "the economy." I'm not saying business is easy. I'm not disputing the fact that we are in a recession. I'm simply saying "Things change!" They always do. It's one of those certainties you can count on, like bankers having more holidays than the rest of us and three year-olds telling strangers their breath stinks. Don't fight it. Understand it and use it.
The fact is entrepreneurs need change to attain the growth rates and return on investment they are looking for. Change motivates behavior. Change gives people a reason to act. Change makes differentiation easier. Change means people are already moving, you just need to guide them in the right direction. "This economy" is presenting a lot of people with opportunities. It may require that your business model be turned upside down. It may require that you redefine your customer. It may be that "this economy" requires YOU to change. And I think that is where the grousing comes from. The people most devastated by "this economy" are those who think they are owed something. They are the ones who think they shouldn't have to change. That, my friends, is called a choice, and it's what makes "this economy" one of the best in the world.
Reader Comments (2)
Love your straightforwardness...you may have missed your calling...just kidding
This blog has indeed changed my thought process and gave me a clearer vision. Great post.