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Mar 13, 2010 | Post by: regangossett No Comments

The New Normal

Reading time: 38 seconds

After World War II, the US was the only industrial economy left intact and that drove everything.  We bought and consumed to the point that 70% of our GNP was consumer spending.  Then the Great Recession hit in 2008 and everything – everything – changed.

Employers were forced to cut expenses in order to stay in business and that drove job losses that have affected people everywhere.  And the lack of credit has made it difficult for employers to build, which makes hiring that much more troublesome.

A few months ago I was asked to present to an association of entrepreneurs and did some research so that I could deliver the greatest value to the the attendees.  What I found was that the vast majority of these entrepreneurs were hunkered down, just cutting costs and waiting for the storm of bad economic conditions to pass.  They were waiting for yesterday to return.

Here’s the problem: We can’t live long enough for the economy of a couple of years ago – what we used to call “normal” – to return.  It lasted several decades, but it never was sustainable, so we’re heading for a New Normal.

Nobody knows what that New Normal will look like and we’re all feeling our way, but this much is sure: If you’re hunkered down and weathering the economic storm just by cutting costs, you’re liquidating your business on the installment plan.

This moment is a great opportunity.  It’s the moment when you get to decide what tomorrow – the New Normal – looks like.  And it’s your job as the leader to make that happen.

You don’t have to have all the answers now.  What you need to have is the optimism and clarity of purpose that will infect your shop with the confidence to make it happen.  This can be your finest hour.

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Copyright 2024 by Jack Altschuler and Fully Alive Leadership. All rights reserved. Reproduction and sharing are encouraged, providing proper attribution is given.

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