The Perception of Recession

by Larry Emmott on November 23, 2009

in General,Management

Some thoughts from the lioness Katherin Eitel on the economy and the power of perception. Nothing to do with technology. Well maybe there is; choosing to add technology now, expecting a prosperous future, could save you lots of money and prepare you to take advantage of the coming good times.

Kim Snider, a brilliant financial coach and author of the book, How to be the Family CFO (www.KimSnider.com) , showed a graph in a recent presentation of all the recessions since 1857 and how long each one lasted including the current one which started at the end of 2007.  Did you know that our current recession wasn’t even at the “average” mark (500 days) until May 2nd?  But if you’re like me, you’ve more than once read a headline, watched a newscast, or spoken to a colleague and heard quite factually that this is the worst recession “since the Great Depression.”  And factually, it’s not.

Now, I’m not minimizing the current state of affairs and how tough it has been for many but we do think every downturn in the economy is the end of the world.  It can feel that way.  It’s not.  It’s not fun.  But it’s not the end of the world.  Kim reminds us that “economies are driven 20% by reality and 80% by perception.  When we are feeling pessimistic, we hoard money and the economy shrinks.  When we are feeling optimistic, we spend money and the economy grows.

What can you do to help speed up the recovery that most analysts agree we are already in Think and talk prosperity, abundance, and optimism right now.  As a dental and healthcare professional, you see hundreds of people each month and have a direct influence on how they perceive the state of our economy.  When you help them feel more confident and optimistic, you help yourself … and we all get there faster! 

 

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