Monday, January 05, 2009

Recession, Schmession

The R word is the new buzz in town. 2009 is slated to be a bad year. Companies have begun tightening already tight belts. Many companies have announced layoffs - some of them at a really short notice. So, as the gloomy news pours from various quarters, people are getting mentally prepared to attack the recession - the equivalent of getting down into the bunkers for a long haul.

So, expensive movies are out as are expensive outings. Everyone wants to make the money stretch to the maximum extent possible. High rental places are slowly being given up in favour of lower rental ones. In quite a few places in Bangalore one can see empty buildings - which were hoping to get the boomtime business, now lying empty awaiting tenants. As I have written before, what this means is to live like we were brought up. Conserving money, curbing unnecessary expenses, being prudent with savings - no big deal really, but well, we were just about getting used to being to those customers whom marketeers love, right.

For a lot of Indians this is not great news (not sure for whom it would be). The reason is that the bust happened (or will happen), before the boom really helped them make money.

But as I have said before, even in the recession lies an opportunity. In many areas. In any core area where you can deliver value to customers (I mean, local businesses for the time being) there is opportunity. If you can help stretch the rupee, you are in business. So, for example if bookshops see their clientele going down - libraries may see them go up. An entire business model awaits anybody who can take the reuse, recycle, repair cycle further...

More here.

As Seth Godin says here...

The opportunity this year is bigger than ever: to lead change, to create a movement in a direction you want to go. While the rest of your world huddles and holds back, here's a golden chance to use cheap media, available attention and great talent to make something that matters.

More Seth here...

1 comment:

Kavi said...

As you rightly said..living within our means is not new to us. Its time we start going back to our roots !!