Jason Tanzi, June 30, 2008
I started writing this in early May, I’m lucky to be able to have it done as the June Newsletter. The working (if it can be called that) title has been “Be the Phoenix”. As we trudge through the slowing economy it almost seems that there won’t be a soul that is ready to take that risk. In my travels I’ve heard about the effects this economy is having on people. Even I am beginning to question the likelihood of a swift recovery. I actually thought the other day that we could go into a depression without anymore of a slow-down, market disaster, or other era-marking event. The rising prices and people’s inability to keep-up with monthly responsibilities could be enough. But, to err on the side of optimism I will continue based on my original outline, and try to remain upbeat.
If you didn’t plan for the slowing, in many ways it’s too late. Don’t make that mistake when the economy restarts. In this kind of economy we cannot wallow in the past, or even the present, we must create the future. Regardless of how deep and long this “slowdown” is, business owners should plan for economic strength, because it is coming. Just as those who prepared for a slowdown have and will fair the best through this, those who plan for the recovery will fair the best when it comes. Understandably, there is hesitance to risk much in a slow economy, but evaluating involves little risk. Planning is also relatively low-risk. Simply understanding that a plan to make significant moves when the recovery is evident might be enough for now, but being fully prepared and making those moves before competitors can be momentous.
As I meet with colleagues and clients, and travel the country. The economy and reasons for it, as well as protection against it and solutions to it are topics that are raised or undertones during many conversations. Well, it is not important how we got in the river, or whether we are strong swimmers or have a friend on shore that can tell us how to swim, we must get out of the river however we can. If each of us were in this situation alone, we’d try for shore, not wait for the current to slow, the water to recede or someone to come along and save us. Now, we’re all in the situation together, what are we waiting for? If we all start towards shore together we will be a stronger force than the river’s current. When those who reach the shore first turn around and reach a hand out to the people behind them, and those to the people behind them, we will all find the high-ground.
I am often ahead of many trends, and that is what creates trends. Am I saying that I create a lot of trends? Hardly, I’ve probably not created a single one. Is it important? Not at all, being prepared is enough for me. Point being, if enough of us can see the value and benefit of knowing that there is a shore to start toward, and take the risk we just might cause an economic rebound. Hey, it’s worth a shot. What do you have to lose? Only opportunities, for they are the only thing that cannot be regained once lost.