A lot of companies are laying off employees--downsizing/rightsizing.
Some see this as a temporary measure--until the economy picks up.
I don't see it that way. Unless I need you.
We've turned into needers vs. wanters. For decades we bought what we wanted. No more.
And this won't change anytime soon.
My parents still save used aluminum foil for the next baked potato. They learned this from their parents who lived through the depression.
Once we realize we can do just fine with what we need, this behavior will last.
Tell stories that fit with this worldview.
The Hyundai Genesis has a great opportunity to succeed. It's a luxury car that's getting great reviews. It rivals similar size cars from BMW, Mercedes, Lexus, Infiniti, etc. in performance, gadgets, and feel. But it costs $10-$30,000 less.
When you drive up in a Genesis you're telling a story. "I like luxury cars but I'm not going to waste money on a hood ornament. I don't need that."
Remember the 1970's TV commercial for the Mercury Monarch? "It looks like a Mercedes but costs thousands less". Problem was, it didn't have much in common with a Mercedes other than the look. (And that was questionable.) But the Genesis does.
Generic brands are becoming stylish. They say a lot about the customer who buys them. And the message is spreading. "I buy what I need."
So if you work for or lead a company that bases its brand on want, your downsizing isn't temporary.
But if you have a story to tell that fits today's customer need, soon you'll need to hire more people.
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Need vs want. Interior motivation vs exterior image. I deserve vs good enough. immediate gratification vs delayed. All my friends have it. As a country we've cultivated an economy based upon adults with a child's money maturity. Purchase decisions based upon I want it now, I don't know care about tomorrow. Or tomorrow will take care of itself. I have no idea if I can "afford" it. What does that mean? I hope this current economy results in adult money maturity, I just don't think by itself it can. So much to say, I'll stick to just need vs want now. Sounds simple doesn't it. Try explaining it to a 4 year old. Do you need a luxury car? Do you need a generic luxury car? Do you need an economy car? Can you keep the one that you have? Mcmansions are a long way away from 1,200 square feet 1 bathroom ranches. Cell phones, dsl lines, personal computers, premium cable, movies on demand, have you ever thought about what wasn't even a possibility 30 years ago, 20, 10? True story. Unfortunately not unique. One friend was talking to another on the phone "I'm worried about money, I don't know how I'm going to pay for my next mortgage payment. Wait a minute... I have to go ... the cable guy is here. He's here to hook up my hdtv cable." need vs want ... short-term economy vs long-term economy. Where now?
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