The fastest recovery ever
Awhile back I saw an article from Inc about how long it took companies to get to a billion-dollar value.
Then vs now.
There were comparisons like Harley Davidson taking 86 years to get to a billion vs Twitter taking 3 years.
Whirlpool 86 years vs YouTube 1 year.
Nike 24 years vs Instagram 2 years.
With the current economic environment – I started to think about the difference between 1929 stock market crash and the following depression and recovery compared to today.
Full disclosure, I tend to hedge on the side of optimism. But make no mistake, I’m not blindly going along whistling to myself thinking everything will be just fine. It won’t and many will get hammered hard.
But I also think that we are in the best possible position to recover, fast.
Technology today has given us so many resources. Tools like Zoom, Amazon, Google for Work, Asana, Skype, LinkedIn, Square and so forth.
Regardless of how hard the economy gets smashed; I think we are poised for the fastest economic recovery possible. Certainly, there’s been no better time.
In 1929, the recovery was a slow grind. But we didn’t have the communication tools we do now. We didn’t have e-commerce. We didn’t have the supply chain we now do. We didn’t have the ability to do business across the globe from a computer.
Using the comparison of how long it took to reach a billion-dollar value, Harley-Davidson was founded in 1903 and it wasn’t until 1989 that they reached a billion. That’s a long time.
It took Akamai 1.5 years to reach $13 billion. Think about that. Wild.
I don’t want to undersell the current situation. It’s bad. But thinking with the future in mind and looking at the bright side, I believe wholeheartedly that we are in the best possible position to recover fast.
People will need to work hard and fast. They will need to be smart. Some will need to pivot or modify what they do. Some will need to re-invent and some will need to do a hell of a lot more of what they were previously doing.
But the opportunity to bounce back is the best it’s ever been.
So let’s ride this out. Stay home. Contain the virus. Hunker down and work remotely to keep every engine firing that we can and then lean-in like mad.
Let’s put a dent in history for the fastest recovery ever.
About Robert Cornish: Robert Cornish founded Richter in early 2008 to build an agency focused on communication strategies that support sales growth for business to business technology-related companies. Bootstrapped with zero capital in the middle of the financial meltdown, Richter went on to make the Inc 5000 list comprised of the fastest-growing companies in America five times. Richter made the Silicon Valley Fast 50 four times and the Entrepreneur360 award two times. Robert has been featured in Bloomberg Businessweek, Selling Power Magazine, Inc Magazine and IDEA magazine. He's been a guest speaker for ACG Los Angeles, IASA Summit, West Point and been interviewed for 33Voices, EnTRUEpreneurship Podcast and IDEA Magazine by Northwood University. In 2012 Wiley & Sons published his book, What Works, about the lessons he's learned while growing his agency from start-up navigating his way to a multi-million dollar agency. Robert currently owns four companies.
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