Get on about your business.
Doom-spewing, pessimistic, misery-lovers beware. The depression/recession/repression is over. Close the lid. Nail it shut. Grab a shovel and dig a hole.
During every news broadcast in 2009, a local television station ran a segment about “how to survive”. They did mellow the message a bit for 2010 to something about stretching money. It’s no wonder a down economy can take years to recover when people are told that their very survival is at risk over and over, day after day. It’s time for a regular news segment about moving on.
We have survived. We made it. It’s over. Fall 2008 through fall 2010 was a sizable depression. We now need to adjust how we do business and get on with it.
Here are few positive points to help you get off the mat. The latest GDP growth was 2.6%, the highest annualized figure in years. Orders for manufactured goods are up. The DJIA is higher than it has been for over two years and has regained close to two thirds of the losses incurred when it bottomed out in March of 09.
So now what do we do? Here are a few thoughts to get you moving.
Set Today-Based Goals. The business you’re running today is not the same as it was in 2007. Don’t whine about it. Don’t fight it. Accept that things have changed and set goals based on where you are right now.
Rehire Smart. As a result of the bad economy of the recent past, you probably have fewer staff. Now that business is picking up again, assess what human talents will help you reach your new goals. They may not be the same as the talents possessed by the staff you lost over the past two years. You may find that utilizing contractors and outside service providers may give you better results than hiring full-time employees.
You Can’t Afford Perfection. It’s easy for me to say that because no one can afford perfection. Your customers can’t afford perfection from you. You can’t afford perfection from your suppliers. “Good enough” isn’t a negative approach. It is realistic. Even if your marketing distinction is that your product or service is better than your competitors’, it doesn’t have to be perfect. It’s important to keep this in mind as the down economy turns to an up economy because during the past two years, you have had too much time to sit around and imagine a perfect world. Pursuit of perfection stifles momentum, growth, and success.
Be Decisive. You are good at what you do. Trust your ability to make decisions and accept the results. I was recently summoned to jury duty for a criminal case. The prosecuting attorney asked each prospective juror if they could convict someone if the evidence removed all reasonable doubt. I was amazed at how many people said that they would need to know beyond all doubt before they could decide. Doubt is a part of life. You will be frozen with indecision if you will only move forward if there is no doubt. When the need to make a decision arises, make the best decision you can with the available information, and move on.
We wish you a very happy and prosperous New Year, and we’re confident this wish will come true in 2011.