Back to the Basics

Everywhere you turn, it seems, the current economic crisis stands right before us. You hear it in daily conversation and on the radio. You see it in the newspaper and on-line. You may have experienced it in terms of decreased income and rising expenses.

Pulling the Reigns in a Runaway Society

Compared to societies in Asia, Africa, and Europe, we’re a young country. Adolescent, if you will.

Like any young person, we’re full of possibility. The future is ours to embrace with open arms. At the same time, we can be short sighted. We think that we can do whatever we want because we’re young and the concept of consequences is abstract.

During the real estate boom years, so many of us over spent. We amassed debt on our credit cards. We maxed out our home equity lines of credit. Now the piper is demanding her pay. And many of us don’t know what to do.

No doubt we’re living in stressful times. What’s the upside?

Less income means less to money to spend. This also means that we’re learning to stretch our dollars farther than we did before--maybe spending less time in the strip malls and departments stores and more time at home.

We’ve gotten so distracted by technology: Mobile phones, text messages, laptops, and gaming systems. We’ve forgotten the value of reading to our children and pulling out a board game and spending a couple of hours together around the dining room table. Things that our parents did but seemed outmoded, like home cooked meals, are suddenly part of our lives again.

I’ve seen it in my business. For the holidays, my clients made donations to charities on my behalf and gave me baked desserts rather than wine baskets. Parties that I’m used to attending were cancelled because of cost-cutting measures.

From everything I’ve read 2009 is going to be a difficult year. But with setbacks come opportunities. Take LEGO Group for example. The global toy company is doing quite well during this economic slump posting a profitable 2008. Another company that’s thriving is Campbell Soup Co. Although there are many reasons to explain the profitability of both companies, it’s hard not to think that a tough economy is actually helping them.

My optimistic take on the economic difficulties we’ve faced and will continue to deal with is that first, old values are becoming new again. Conserving rather than consuming, spending time with our families by staying at home rather than at amusement parks.

In our professional lives, we’re being called on to be more creative. We may revive past business practices that we had forgotten about. In my book I share about how everyone likes something for free. We may offer our prospects and clients simple gifts, like notepads and stationery, and generate business as a result.

We may decide that 2009 is the year that we'll connect with our colleagues, clients, and prospects in new ways. In addition, we'll make more effort to maintain the relationships we’ve already created.

The months ahead are going to be full of challenges. But time has taught me that this too shall pass. Staying upbeat is not only more difficult than ever but more important as well.

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