60 Minutes had a good segment on what’s happening in the financial markets. Frankly, one of the things I appreciate about this piece is how Steve Kroft doesn’t reign in his angry dismay as he delivers the story. You can click herefor their October 6th, 2008 broadcast and see for yourself.
I sure don’t understand what’s going on or know what’s going to happen, and it seems like none of the experts interviewed on this video or on CNBC, or anywhere else know either! What I am reminded of is a quote one of my old real estate instructors used to say: “Every generation has to make its own mistakes!” The majority of people don’t seem to learn from history and are thus doomed to repeat it. This one may turn out to be so big that it can’t be repeated!
Every indicator is that it’s gonna be a rough one, and it could be that way for some time. That is NOT to say, though, that well-run organizations can’t survive or even gain significant ground in the coming months and years. If yours is an organization that has practiced healthy growth rather than hyper-growth like we discuss in ECHO Marketing, there may in fact be some opportunities on the horizon for you.