I don't know about you, but I am glad 2009 is over. Like a lot of people and companies, I see 2010 is a chance for renewal. It's a time to start fresh and aim for a better outcome. But was 2009 really that bad? When I go back and look at it, many of the indicators that show success in our businesses and our home lives were up.
Oil went from $33/ barrel to $80/barrel. The Dow (DJIA) went from just over 8000 to over 10500. That's over 31%!
So why aren't we feeling better about our businesses and our personal finances?
I don't know about you, but I felt rich in 2007 when I had a ton of paper equity in my house. Now that the market has fallen as much as 45%, suddenly, I don't feel as wealthy. It's the same for my business. Holy cow! It was worth a bundle in early 2008. Now a great deal of that equity has evaporated.
What else makes us feel bad? How about the continuing high unemployment rates? I'll bet we all know someone who has lost or can't find a job. I have friends in the construction industry, both as business owners and laborers, who are earning much less than they were three years ago.
So what's the lesson? I think there are many, but here are a few.
· We were all brought up in a free enterprise system. Current politics not withstanding; as Americans, we all believe that hard work will yield results. That is the reason that our private sector productivity is among the highest in the world
· Don't dwell on the past. What's done is done. You can't see a new tomorrow looking back at yesterday.
· Looking back at the few paragraphs, I used the word feeling, felt and feel. That tells me that a lot of the negatives are that way because that is how I, or my friends, associates and the Media; portray them. This will seem overly simplistic, but if you want things to be bad they will be. If you chose to look at everything in as positive a light as possible, it will be.
I went to a seminar recently that featured one of those feel good speakers. His mantra was that whenever anyone asks how you're doing, you answer....FANTASTIC!!
Soon after his talk I was at lunch with some of the other attendees and someone ask how business was. When I answered the standard, 'It's been a lot better', I was told by someone else at the table that I should have answered, FANTASTIC!!
I guess the lesson there is that things are as good or bad as you want them to be.
So here's to 2010. It's as good as you want it to be. I want it to be great.
Dan Byrum
President, Bakersfield Pipe and Supply, Inc.