As we all come to grips with the calamity that is our economic situation, I’m finding bits and pieces of optimism in interesting places. Some of the optimism may be false, as people work to talk themselves into believing that things can’t get much worse. (Don’t fool yourself, they can and most likely will.) Overall however, I am excited by how some are beginning to face up to the challenges ahead of us.
Here are some of the conversation tidbits that show a glimmer of silver in an otherwise dark environment:
Many people seem to be operating with a new-found stiff upper lip and less in panic mode. Conversations are calm, fear is giving way to acceptance and in many cases I’m sensing a new resolve on the part of businesspeople and those affected to find a way to work through the challenges. It feels a little bit like what I imagine the mood was in the streets as the British people labored on during the Blitz in World War II.
I know some smart people seeking new opportunities to create, to innovate and even to create jobs. Those with deep pockets are recognizing that it may the best time in a century to purchase businesses. Others are finding opportunities to solve problems by tapping into the large supply of talent available for contract or hire.
While most companies are retrenching, the exciting ones to talk to are those that see the opportunity developing during this mess. Top executives at Cisco and IBM have publicly described what they view as a magnificent opportunity as we work over the next few years to retool massive amounts of our technology infrastructure to cut costs, leverage new technologies and go green. Not every firm sees opportunity, but those that have the courage to reinvent themselves will come out the other side in an exciting position.
The numbers and reports are mixed on education, however I expect this area to boom as people retool their skill sets and launch into new careers, or in many cases, new ventures.
I love the enthusiasm coming from the groups of newly unemployed who are coming to grips with the miserable Dilbertian-like existence they’ve led inside corporate walls. I predict a boom in entrepreneurial ventures as these disenfranchised professionals search for something that will both pay the bills and refuel their spirits.
There are no silver bullets or easy words here, especially if you are one of the 3 million or more that have lost their job already in this recession. I do think that barring a catastrophic shock to our system like 9/11, the macro forces for the world are good.
One thing is for certain, in spite of how miserable it gets, I personally refuse to stop looking for the opportunities. I know many others that are there with me. In case you’re looking for us, we’ll be the ones working hard to create new value. Oh yeah, and we’ll be smiling.
Art, your observations are spot-on. Two things I’ve observed make me optimistic for the future. One, which you point out, is the up-tick in entrepreneurial activities. I’m seeing people seek out and deliver on opportunities in the current environment. One friend was ‘let go’ from a Fortune 200 company. He and a couple friends started a new services company and he is now busy doing the same work he was before on his own terms.
The second reason I see for optimism is the stock market. Yes, it’s way down from where it was a year ago, and it hasn’t made great strides lately. However, given the rash of bad news in recent weeks, the fact that it’s held its own and not dropped further is, to me, an indicator of good things to come. The market is always ahead of what you see in the media and it’s almost always right. Something catastrophic could change it tomorrow. However, the way things look today…I’m optimistic. Thanks for giving us additional reasons! -Michael
Art,
Excellent article! I think we both see the opportunity that our current economic situation will bring and I truly believe that this is the “tipping point” for modern labor. I have “begged” my local union leadership to be a part of the solution because if they are not they risk becoming much less relevant in the future as the workforce splinters into a million different entrepreneurial directions.
Excellent content! I will be linking to you today!
Thanks,
Gregg Zban