I suppose it’s some sort of indicator that I’m becoming an old…, well not a youngster anymore, that I can reflect on having lived through about five of these recession things to date. To be specific there was the mid-70′s, 81-82, early 90′s, post-dot-com period of about 2001-03 and now the current financial hiccup that the main stream media has largely already declared the equivalent of a financial Chernobyl.

Moreover it seems that it’s de rigueur that the only answer to these less than sunny economic patterns is a massive group think on cost cutting. You can hear the choir singing let’s hold hands and hunker in the bunker hoping to survive. A wearisome approach at best.

Hey Charlie – Want an Apple?

So what’s a comic looking Tuna dressed like a 1950′s hipster have to do with economics and business. Well maybe a lot. Our friend Charlie the Tuna did wonders for the Starkist brand over the years but what you may not know is the story of the agency that created the aspiring hipster. That would be the Leo Burnett Agency which was founded during the Depression, you know the “Big One” of American financial set backs; in 1935.

During a time when many an unemployed person was peddling apples on street corners Burnett’s Chicago office had a big bowl full of the shiny pomes in the reception area free for the taking. In short Burnett had the courage and vision to move contrary to the predominant mood of the moment. A Chicago paper of the time predicted that Burnett is giving away apples now; he’ll soon be selling them on the street. It didn’t quite work out that way. Today Leo Burnett Worldwide has almost 100 offices in over 80 countries and handles accounts for some of the best known brands on the planet. Good thing Leo couldn’t hear that choir singing “hunker in the bunker”. Burnett was a leader and innovator and took advantage of the times.

Realities of Current Economics:

Less my reader think I’ve become disoriented and wandered back 10 years in time to the halcyon days of the Dot Com Boom be calm. I’m not doubting that there is pain and financial difficulty in the current situation as there certainly is. What I am arguing is that those responsible for business management need to be ever aware of and avoid the pervasive mindset and consider the following points.

1. Economic booms and recessions are largely a matter of mass psychology. Things change from recession to boom and often do so quickly.

2. Glooms become blooms just as spring rains bring the flowers. An economic upswing will happen it’s just a matter of when.

3. Those with some guts and vision to prudently move forward will be in the “eye-of-envy” when the current clouds of economic woe do part as they always have.

4. The creative and intellectual talent of an organization might be more gainfully employed in innovating ways to increase revenue while holding costs within bounds rather than just meeting mandated budget cutbacks.

5. Retrenchment is not only not a growth strategy but is depressing to all but the most jaded souls thus driving off talent that should be retained and is often mindlessly deployed in a blanket fashion thus running the risk of killing off some of the very initiatives that might have propelled the company forward.

In sum I’ve never had much patience with “group think” and that drum is never beaten more loudly than in times of economic torpidity. To me there’s no better time to take a competitive lead than when the main stream thought is to pull back and your competitors are standing still. I know a few businesses, one who is a client of mine, that are doing just that and their businesses are booming.

In closing here’s to all the “Burnetts” out there working to grow their organizations while the drum beat drones the funeral dirge.