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Innovation makes a comeback.

Okay, no one enjoys an economic squeeze and the crop of grey hairs that comes with it. But let’s face it, it’s the hardships we’ve walked through that have made our nation — and our businesses — exceptional. Innovation springs from the parched wells of possibility and the greatest ideas rise up from the pangs of empty stomachs. Always have. Always will.

If you’re paying attention, there really are some wins happening inside this economic downturn. For instance:

1. The customer is once again king. Business large and small have been forced to “enthusiastically” refocus on the customer or face extinction. We call it economic smelling salts. Nothing “brings you to” more abruptly than seeing other businesses drop off the landscape … one by one. There’s a determination from service providers bent on giving a more cost-conscious customer more value and better service.
2. Innovation makes a comeback. Currently the U.S. is ranked No. 6 in innovation in the world. If it takes a recession to spark a new revolution, then let the Dow take a dive. No one is listening to the naysayers grumble “that can’t be done,” because we know that somewhere — right now — it’s being done. Big thinkers are being forced to amend their paradigms and chase neon rabbits. New technologies, processes, ideas, products and perspectives are born every minute in a recession. Now that’s a good thing!
3. Networking has evolved to “chic.” Networking over lunch, at events and online via the proliferation of social network platforms, isn’t just acceptable, it’s downright chic. Check out Twitter, LinkedIn and Facebook if you haven’t already. Genuine, talented and focused people want to connect to solve your problems and spray their brand of miracle grow on your next project. A harvest of useful information is being shared rather than hoarded. We’re listening to one another and aligning to build that better burger — and it’s working!
4. Generosity rules. Recessions remind us that business is about relationships big and small – not about a Holiday card and a generic gift basket. “Titles” are loosing their clout as CEOs lose their jobs and generosity is stepping in as the great equalizer. Those looking out for others before themselves in a recession will see their own opportunities soar.
5. Collaboration and creativity = currency. Collaboration and creativity have become the currency that hooks the next opportunity. We’re coming together more and using parts of our brains relegated to complacency in times of plenty. There’s an air of possibility and working parallel paths toward success. We’ve become virtual sales people for others whose livelihoods are in more danger than our own. Cross-promotional opportunities, referrals, bartering, sharing resources, co-op marketing, volunteering and thinking someone else’s story more than our own is just one way we’ve come to redefine success.

Basically, in many ways, the recession has forced a flood of businesses and individuals to become the people with whom we’ve always wanted to do business. Is that such a bad thing?

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