A Little Perspective

Here's what I don't get - why are we giving the very same economists who completely missed this economic cycle the authority, credibility, and expectation that they have any idea when we'll get out of the recession or how. My friend, client, and fellow blogger, Bob Corlett, points out that this time last year, only 2 of Business Week's "esteemed" 54 economists predicted we'd be in a recession. I'd like to point out, additionally, that they made this prediction when (as it turns out from the "recession panel") we were already in the recession.

I'm not complaining that they were wrong (though I'd like to add this to my complaints in college when I was forced to take a class that made no sense - but that's a story for another day).  My complaint is that we - yes, you and me - are allowing people who have no compelling history in predicting the future to create the narrative for how we should think.  As a financial advisor, I was taught that past performance doesn't indicate future results, and yet, we keep acting like it does.

Look, I admit that I have no idea when or how we're going to get out of this recession.  I have my theories - and I'd like to add that my prediction track record is just as good (bad) as the economic prognosticators.  I have no control over this recession.  I have little control over economic policy or any of the other things that dominate the news today.

• Here's what I do control - my attittude, my behavior, and my actions.

• Here's what I pay attention to - my customers and my market.

• Here's what I know - there is a completely new reality.  Of course, there is always a new reality, so the recession isn't really different.

1. Know and understand your customers better than they know and understand themselves.

1. Focus on the results you create for your customers.

1. Create value in everything you do - especially in the sales and marketing process.

1. Listen to the market - it is always right.