A recent analysis in the Wall Street Journal claims that this as been the worst economic period since the 1930’s. By just about any measure, this recession beats every other downturn since World War II.
Personally, I can safely state that this has been the worst economy I have ever experienced, and I’ve been around since the 60’s. At 19 months (since December 2007) this is the longest period of reduced GDP since WWII.
However, there are signs everywhere that the end is in sight. The stock market seems to be making a comeback. Media reports are beginning to feature economists telling us that the worst is over. Indeed, after the daily barrage of bad news last winter, it appears that the worst of the terrible financial storm is behind us. Metaphorically speaking, the cyclone has passed and now we face a long period of clean up.
Anyone who has run a chainsaw to clean up storm damage knows that the easy part is cutting down the damaged trees. The hard work is the tedious process of cutting the downed timber into pieces and carting the pieces away. (I won’t even get into converting the stacked wood into firewood.) Similarly, we face a long, hard process of getting the economy back to something resembling “normal”. There is a great deal of financial carnage to clear away. There is still a great deal of consumer debt to be paid off. The lost wealth of the financial collapse may not be recovered for 10 – 20 years (for some, never).
The good news is that it now appears that it is safe to come out and pursue the process. The time for hiding in the basement and riding out the storm is over. It is time to get to work shaping your business for the future.
So, what does this mean for your marketing?