Albeit our problems could be worse, this recession has provided us a glimpse of what happens to people when they become desperate by circumstances out of their control. This is not the Great Depression; we are not caught in the throes of war; nor are we victims of a serious natural disaster or epidemic. But, we are showing signs of what can happen to people when their security is threatened.
This is my 32nd year in retail followed by a decade- the 1970s-in education. Like most everyone else these days, this is not where I expected to be at this point in my life. I am working harder than ever and am under more stress than I can remember. But, this article is not about feeling for ourselves. It’s about keeping our heads on straight in the midst of our efforts to financially survive.
Whether I like my line of work or not (and I usually like it), as a merchant, I’m in the middle of the fray. There’s no escape. As much as I may want to hop on a Harley and head south to Tierra del Fuego, abdicating my responsibility is not an option. Business survival is very important to me. But, survival is not sufficient – and that is my point. The bigger challenge is maintaining one’s integrity - principles, credibility, a positive business culture – in an era when high anxiety is ubiquitous. This environment is new to most Americans, certainly me. This is a test (that we didn’t want to take).
A few test questions for me: Do we keep an employee whose contribution to the business is questionable? [Historically, we have been very careful about firing people. Retraining an employee by identifying an area of the business that is more in line with his/her aptitudes has been our default.] Do we keep a long-time vendor (e.g. business insurance agent, CPA, customs brokerage firm, shipping company) whom we have a meaningful relationship with, or do we shop price? Do we exchange a straight-forward, fair, no nonsense approach to marketing for baloney and flimflam? [Discounting, sales, etc. can be valid incentives, but it is easy for retailers to fall prey to trickery and half-truths.]
This test - for both businesses and individuals - will become more difficult if the economic squeeze worsens. In normal times, it’s easier to opt for the high road. Desperation however appears to be the parent of behaviors that otherwise might never see the light of day. Facing these personal dilemmas in the day-by-day cauldron of tough times and doing the right thing may be the most critical challenge for principled businesses and individuals. I hope we remain civilized; I hope we are up to the challenge.
Fred Belinsky
www.VillageHatShop.com
