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Do not hit the “panic button”!•Quit watching TV•Quit listening to the media•Start planning for the upturn – because – “THERE WILL BE AN UPTURN!”
• “The only thing we have to fear is fear itself” Franklin D. Roosevelt in his 1933 inaugural speech.
Feb 1945 Nov 1948 Jul 1953 Aug 1957 Apr 1960 Dec 1969 Nov 1973 Jan 1980 Jul 1981 Jul 1990 Mar 2001
Retraction in Months 8 11 10 8 10 11 16 6 16 8 8
Expansion in Months 37 45 39 24 106 36 58 12 92 120 73
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20
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60
80
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Cylc
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Post World War II Business Cycles
Recession could be a good thing?
Instead of a “slowdown”, recession can be an intense crucible of opportunity.
Recession “Shuffles the Competitive Deck”
Bring a positive message to employees
Focus on operational excellence
Stay Customer-Centric
As Employers – What can we do?
Bring Positive Message to Employees
Reassure that we’ve been here before and come through
Control what can be controlled Embrace change Provide information about upturn to
share
Focus on Operational Excellence
Time to think and prepare for Upturn Strategize new solutions Provide more training. Now IS the
time Invest in our peopleWhile competitors are distracted or in hibernation, what are we doing to improve for the upturn?
Stay Customer-Centric
Spend time with our customers, even if they are not buying
Reach out to new customers – even if they are not buying
Give employees answers to handle “hard questions.”
Provide tools and ideas for the field to “stay connected.”
Share the Wealth
•Ideas•Articles•YouTube Videos•Blogs•Trainings
Bring a positive message to employees
Focus on operational excellence
Stay Customer-Centric
As Employers – What can we do?
What will the “new world” look like? Be ready for change!
*This Too Will Pass
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