> Economic Recovery...or Fool's Gold?
Economic Recovery...or Fool's Gold?
| Posted: Wednesday, March 25, 2009
Ever been on a hiking trip and stumble upon a wall of glittery, shiny speckles? You approach and, dubious, you affirm your reaction. While the initial thought might have been "Gold!"...you were right to pull back the excitement. It was only Fool's Gold.
Similarly, recent economic news is beginning to flash signs of life...more and more frequently, positive news is seeping out from the corners of the financial markets. Now folks are beginning to cautiously say this year will mark the end of the economic downturn.
Is it Fools Gold, or is it the real thing? This blog entry doesn't purport to answer that question (although I have my opinions like everyone else). Instead, I am telling a tale of caution with your marketing and business plans.
You see, there are two things you need to consider:
1. If the recession continues for awhile, how will you take advantage of the continuing downturn by developing a powerful new presence in a competitively "empty" market? Are you planning to do something or sit and wait things out...possibly missing a chance to take advantage of the artificial gap advantage you can develop during a recession?
2. Are you prepared for the turnaround when it happens? What I mean to say is, when the buyers do return (assuming there has been a decrease), are you prepared to respond appropriately with your marketing strategy?
As I said, I'm not here to answer whether the economy is actually turning...but I am here to caution you. Either way, you need to be prepared for the best strategy and approach to assure the best success you can during these delicate and challenging times.