How will a global recession effect your online business?
admin Popularity: 3% [?] August 20th, 2008
What measures are you taking to ensure your daily activities don’t end up in the wash with mortgages and stock certificates? Being optimistic, I had a tough time today. Someone sent me the link to Nouriel Roubini’s NY Times interview. It rocked me to the core.
I had not heard of Mr Roubini until this morning. Four hours and 120 articles later, I felt like a mouse stuck in kitty litter. I’ve never been one to enjoy horror stories - but if I was voting for one, this would be it.
For most of my working life, I’ve not had to worry about economists. I’ve never needed one to tell me when things were bad, and generally never thought about them when things were good.
After all, what difference does an economist make to my house that is worth 50% less than 12 months ago? What difference does an economist make to my business that had sales slashed by 65% in the space of 3 months? I only have to look in the eyes of real people - people who have lost jobs, houses, families and their sanity. If I dared to look, the mirror would tell its own story.
Today was different. There are levels of complacency we afford ourselves, that generally self-justify our actions and thoughts. Paramount to survival is a willingness and desire to never give up and always believe in yourself. Never have the words of one man, been able to captivate my attention in such a grave way.
We all know when the party is over, someone has to stay and clean up the mess. Is your online business ready for a global recession? What will change? What will need to change? What new opportunities will there be? Can one economist be right and 100 wrong?
A comment in one thread read words to the effect of “When you realize you are in a hole, it is wise to stop digging.”
Complacency is the evil child of success. If we are not constantly testing our failure theories and understanding what the success drivers were, we succumb to the serenade of tunes that reinforce the habits of yesterday as if they were a cast iron blue print for tomorrow. The status quo and sacred cows that line the tombstones in “Corporateville” are still holding hands in unison for everything they did right.
Make your own judgments regarding the future and how you have to prepare. Rivkin said it best “The downside pain is greater than the upside gain.”
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Are you running a business? Then you should answer your email. Period. There was a recent article post called, 
