2009, time for change…

 

The bubble

The Madoff bubble...

2008 is a recession we have never seen before… Amazing! I thought after crisis like the Internet bubble and Enron we have had the worse. What I see now is that people and companies start looking at themselves… laying off people and cutting the budgets. But what to expect if you stop investing in time and resources? 2009 needs to be the trigger for this turning point…

What is interesting about these economic downturns is that it can create opportunities… New and smaller parties will come up, those who have not wasted their time staring at their own organizations… 

The history is full of these examples… Companies and industries emerged as a result of market dislocations. I will mention a few…

Out of one of the darkest depressions around 1873 the telephone was born as well as General Electric and the lightbulb. The panic of 1910 made Ford come up with an new way of thinking about operations and manufacturing. The oil crisis in 1973 marked the birth of the personal computer and the recession of the early 1980s gave us the proliferation if PC’s led by Microsoft, IBM, and Apple. The invention of the World Wide Web and the commercialization of the Internet coincided with the recession of the early 1990s (which really started in 1987 with Black Monday), and out of the ashes of the dot-com bubble came companies such as Google, Amazon.com and eBay, with new business models that have upended the way we innovate, transact commerce, and communicate. And the current crisis starting with the banks and continued with the bubble of Madoff…

Interesting…

The real smart entrepreneurs will not get along with the cutting budgets and laying off people. They have more important things to do! The will create the turning point in 2009 by means of finding new business models that will make things work…

This article was inspired by Jeff Stibel, Harvard Business Online