We've all heard of the Great Depression. Why don't we name this recession? It could be called the Best Recession.
Pardon the positivism, but since more millionaires were created during the Great Depression than at any other time, it is possible that we can actually end up seeing good things come from this economic downturn. Things such as:
Maybe the U.S. auto industry will actually get in touch with the market and re-engage us
Maybe we'll see reasonable prices on homes and real estate
Maybe the U.S. will look at our manufacturing base as an exciting growth opportunity
Maybe this great country will become recommitted to entrepreneurialism
Maybe this economy will force us to really become energy independent
Maybe we will feel less entitled and more grateful for jobs, money, and customers
Maybe the young"Best Recession" generation will be as impressive as my parents' generation
Maybe we will now face issues that have been lurking for years and solve them
Hopefully we not see another Great Depression, but we can make the best out of this recession.
Barry LaBov, CEO
LaBov and Beyond
www.labov.com
Wednesday, January 7, 2009
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Barry, I believe it is a matter of having the proper mindset. I agree, great things can come out of the current economic situation, as it will "prune some trees", as the weak (companies) either die off or get tough and stronger, and those that are left will be ready for another period of growth.
ReplyDeleteAs long as the politicians don't get in the way and extinguish the flame of passion that fuels entrepreneurship, this is one of the best times to be in business if your business model is aligned for these leaner times we are currently in.
Individuals are becoming leaner with their finances, companies that follow the consumers example will flourish!
Good points, Scott.
ReplyDeleteEven if the politicians get in the way, as you said they might, the best entrepreneurs will find a way to succeed.