Is This The New Normal?

The most pressing question that I receive nearly daily is something like: "Joel, how do you see the economy? What's on the horizon, in your opinion?"

It's hard to say, and I certainly don't have a crystal ball that's any better than anybody else in the media — although, the media never seems to get it right. But I do see one trend that is very significant and it's worth taking note of.

That trend is that people are finally starting to get used to this down economy. This economic environment has stripped most of us of our credit. It has stripped most of us of our ability to buy things that we can't afford, and many of us have moved on to a debit card system that requires cash to be in the bank before a purchase can be made.

A year ago, when I set up a debit card system, it was so foreign that I was afraid to take the card out of my wallet. I was afraid of the bookkeeping requirements of staying on top of daily purchases. I was afraid of the embarrassment of not having enough money at a point of sale terminal, until I got used to looking at the bank account every day. And I was afraid of the unknown because I've been using my American Express Card for so many years.

But now, I'm used to it. And all those fears have gone away. I believe that most others, my friends in particular, have gotten used to using their debit cards as well. It's a good system. It's a system that our grandparents would endorse, and it's a system that's going to keep a lot of Americans out of a lot of trouble.

But this isn't really the end of the story.

The end of the story comes from how me make use of the "new normal." I see people scrambling around like never before. I see a level of intensity and desperation that truly is producing a new and reinvigorated American work ethic. People aren't really liking how hard they have to work, but working hard is a good thing for us, because it puts us back into a mode that will make us a first rate industrial and technological power.

People are taking advantage of the spare time that they have to do marketing and selling and to sharpen their "own axes", making their own skills better and improving the way that they render services to their customers.

They're improving their own infrastructures. They're improving the way that they deal with their employees and with their customers. And they're improving the way that they acquire new customers and clients as well. If those are the outcomes from this economic downturn, then once in awhile, a downturn is a good way of "shaking things up." We needed it. We had become complacent. We had become slow. And now, we're going to be moved into action so that we're back in a competitive saddle ready to do the good work that we're all capable of doing.

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About Joel G. Block, President of Growth-Logic, Inc. Often dubbed a "Growth Architect" by his clients, Joel Block advises companies on explosive growth strategies by driving revenue and sales. Well known in the capital markets, Joel is a successful entrepreneur, speaker, advisor and faculty member of the iLearningGlobal community.

To bring Joel into your company, please visit http://www.joelblock.com or http://www.growth-logic.com. Also, be sure to check out our newest project: a blog to organize the blogs that cover entrepreneurship — http://www.entrepreneur-hub.com. And finally, for film makers: http://www.hollywood-dream.com/ and http://www.filmfundingblog.com — our newest projects.

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