Crippled CEO Blog #143:
There is undoubtedly a recession coming. The economy is getting worse, and it’s going to continue to get worse. The signs are everywhere, including my companies’ annual revenues.
And yet, I am investing in “unnecessary“ things for my business. I am improving the products, researching new product lines, exploring additional markets, hiring new people for roles that previously did not exist (which means we could certainly live without them), redesigning our websites, making new videos, and putting a lot of money into new things to support our dealer network.
If the overall economy is worsening, and about to get much worse, most would say that this is the WRONG time for needless spending or unnecessary risks. This is the time for saving, for being careful, and for making sure that you can survive the impending doom. I’m a Floridian, so I’m going to use a hurricane metaphor. The storm is coming, so now is the time to button down the hatches and board up the windows, not to build a second story on your house.
But I’ve decided, just like in 2008, that I’m not going to let THE economy dictate MY economy. Not everyone loses during recessions — there are plenty of stories of people who got rich during the Great Depression — and I’m very rarely like “everyone else” in every other way. Why would I be for this?
And yes, the reality very well might be that people will have less money to buy what I’m selling, which is a very real problem. But if it’s going to be HARDER to sell stuff, then why on Earth would I cut back on marketing, R&D, customer support, etc. — the very things that make people want to buy?! This is the exact time when you want to do more, not less. Plus, if everyone else is going defensive, and pulling back into their shells like turtles to avoid the danger, then this is a great opportunity to take the ground that they are retreating from. I think I’m using too many metaphors here.
The point is, you get to decide what your reality looks like. You don’t have to be a victim because the news tells you that everything is bad. How about this? I don’t think gas is expensive. I think gasoline is a magical wonder liquid that does incredible things, and we are grossly under paying for it. If they charged us $20 per gallon, we would still pay it, and it would still be worth it. Outside of the United States, it is common for people to pay over $10 a gallon. We should just be thankful that they aren’t charging us double or triple what we pay now, because they could, and we would all pay it. That’s the reality that I choose to live in when I fill up by gas guzzling SUV that takes premium fuel — “I love what a steal this is!” The price doesn’t change whether or not I’m happy about it, and this perspective makes me happy about it, so why not choose that one?
(Your mom had me fill up her tank last night — with extra premium. Your mom also gets a text from me every Sunday with a link to the latest blog post. Send a text to 561-726-1567 with the word CRIP as the message to get a link to the blog as soon as it’s up.
Did you know that I have a YouTube channel now? I do! I am putting up two videos every single week. Go search for Crippled CEO and you’ll find me. I would appreciate it if you subscribed.)