“Don’t think of our current economic crisis as a recession. Instead, think of it as a recalibration. Everything is different now. If you think of it as a recession, you may be tempted to “hunker down” and wait for the economy to cycle back.”
“One thing I’m convinced of is that the world I am working in today is different from any world I have ever done business in. The world has been reset. We can no longer look at the “LY” column on reports to use last year as a benchmark for what will happen this year.”
I like recalibration better then recession. My wife and I were talking this morning about how long the recession may last (she’d heard a news report of 10-12 years) and my observation is that even when it’s over, things won’t be the same. And that’s because we’re recalibrating.
Shouldn’t that be how we operate every year? Shouldn’t we strive to remain in this moment and not calibrate our expectations based on what used to be instead of what is? Memory is an imperfect and artificial construction.
But, I suppose this is why so much of business is about perception and managing those expectations, neither of which I have ever been very good at getting right. Instead, I am, as the man said, a “Maker of things” who is generally too busy thinking about what’s next than dwelling on what’s passed into oblivion.