Is the Great Recession Over?

Is the Great Recession over? According to several business leaders I spoke with recently, they don’t use the “R Word” to describe the economic conditions of today.  A sales trainer told me that he was being hired frequently to talk about selling in a recession, until December. Another consultant said that he shies away from the word preferring not to use it in front of clients. He feels it is a passe term and wants to be current. There seems to be a consensus that a recovery is underway. Is it over or is the use of the word “Recession” over?

One thing is certain, the economy is different. Different today than six months ago when a recovery was only predicted. Different today than 18 months ago when the Dow Jones began to plummet. The economy has never been down; but different. So what do you do about the difference? What do you do about what everyone seems to be saying?

Let go of what you can’t control. It doesn’t matter what is going on outside as long as you can control what happens within your culture and sphere of influence. Let go of whatever is costing you more money than profiting you. Embrace the changes. As Marshall Goldsmith puts it, “What got you here, won’t get you there.” Let go of what got you here – if you want to be there. The very ideas, policies and practices that protected you for the past two years won’t serve you in growth mode.

You have to now think anew. Make strategic changes rather than mass changes. Be ready for growth mode and people hiring your services in a new and different way. Your customers have changed in the past two years. More shop online. More pay cash. More shop around. More know more about your competition than you do. More don’t like waiting for service or someone live to pick up a phone. More buy in seconds than did in minutes.

Customers have changed. Have you? What have you been doing that is different in the way you sell, train, manage, serve and build your people? If the Great Recession is truly over, it isn’t coming back like it did. Everything around you has changed…forever. Have you?

Read more on how to change.

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