“Why Waste a Good Crisis?”

This magazine article stopped me mid page-flip.  I was reading an onboard airline publication, and the article by Leani Wessels on “Wandering Workers,” dealing with flextime, seemed interesting.  But the real show-stopper for me was the small, inset photo of Finweek magazine whose story on the current economic market crisis was titled “Why Waste a Good Crisis?”

More than a couple years ago, I decided to be an independent marketing consultant.  Since then, I’ve noticed that the economic doldrums have caused many, many of my clients and potential clients to “hunker down.” They’ve stopped spending on any “unnecessary” marketing programs.  In some cases, they’ve shut down their marketing functions altogether and laid off their entire marketing staff.

Instead of exploring, creating and innovating their way out of economic stagnation, these companies have decided to put their heads in the sand and wait until things get better.

Get better–what does that mean?  Many analysts and prognosticators are saying that there is no “normal” to go back to with our economy.  Other, more dire predictors, are saying that there isn’t even any “new normal.” If all the old ways of doing business have been swept away, then how will not spending, not changing or waiting for “the right moment” work in this brave new business world?

Instead of “wasting a good crisis,” perhaps the best thing we can all do is to develop tools, strategies and coping mechanisms to help us survive and thrive in uncertain times.

By the way, the name of the airline whose publication I was reading is: 1Time Airline.   With the perception they’re creating with an airline named “one time,” maybe they need some marketing help…???



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    One Comment

    1. Posted December 29, 2011 at 3:32 am | Permalink

      I was just spending some of my “downtime” reading up what people were saying about Finweek.

      It was fun putting together this article and it generated quite a lot of discussion from various business and investment professionals who had used the crisis of 2011 to innovate and come up with a series of new initiatives to take their business forward.

      Ironically the first time I heard this said was from Michael Jordaan at FNB and if one looks at the innovative ideas they have come up with this year (iPad / tablet devices for their clients etc.) you can see that it is a business which is keen to use this period of time to gain marketshare rather than “hunker down”. It is one of the few brands which has really advanced itself in 2011 and when the tide does turn then you will see FNB reap the rewards.

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