One of the things that strikes me as I interact with businessmen and women in our community is the degree of wishful thinking that is going on. Though I’m an optimist by nature, I categorize this hope and expectation that our business climate will return to the way it once was as wishful thinking. It time to get comfortable with the new normal – or at least accept it as today’s reality.
I don’t claim to be a prophet, but I do advise my clients to face the brutal facts. Here are just a few of them. Let’s start with employment. The reality is that many of the jobs that existed prior to this downturn will never come back. The recession accelerated changes that would otherwise have come more gracefully. The cost of doing business will increase as the pendulum has swung toward more government regulation and taxation to fund a growing public sector and relief for the masses who are hopelessly unemployable. Cybercrime, diminishing privacy, and debt-ridden world economies all add to the volatility. And the list of discontinuities goes on. “All the King’s horses and all the King’s men couldn’t put Humpty (Dumpty) together again.”
So it’s time to move on and move forward. With change comes opportunity. The US is still the world’s largest economy and gross domestic product is forecast to grow modestly again this year. But that growth will likely be in product and service areas that were not even imagined before this downturn. If you think you’ve been handed a lemon, then grab those lemons and let’s make some lemonade together!