Murphy's Law: You Become What You Think
Murphy's Law: You Become What You Think
“You become what you think.”
James Allen wrote these words in his 1902 book As a Man Thinketh. What we think about, we become. I believe that in the same economy, some people see their environment as the reason they are struggling - and why others see an opportunity. Let me be perfectly clear here, I know the U.S. and global economies are challenged and we are in the midst of a serious recession. I also believe the media spin and irresponsible reporting have made everything seem worse than it really is. I am not Pollyanna here, just reporting some facts to consider.
Although we are in a recession (the seventh economic contraction since 1967) there are several signs that the situation has begun to turn. I know the stock markets typically lead the way and we may have several months or quarters of increasing unemployment and business challenges ahead, but please understand, we have been here before and we will be here again. Because the news and data inputs change daily I could not possibly describe all of the threads of information that are woven into the fabric of this slow recovery but I will acknowledge two.
First: The bear is dead and we are already into the next bull market. As I write this in early May, the S&P 500 is up 35 percent from its recent market recessionary bear low. Recall that a 20 percent uptick in these indices is considered a bull market. How come this fact is not taking up the same front page inches that the irresponsible use of the dreaded “D” word (depression) did a few months ago. I have not read headlines: “The Market is Blasting Off” the same way they used “Free Fall” when it was in decline.
Second: Our Market is still growing. In 2007, dental expenditures in the U.S. peaked at 95.7 billion. The 2008 figure has yet to be reported and 2009 has only just begun. Our recent history of the last 40 years (1967 marked the beginning of the consumer price index measurements) should prove as an excellent barometer of where we are headed. During that time there has never been a year when the dental expenditures in the US did not increase. Every single year, we as a nation, have spent more dollars on dental care than the previous one. Sometimes a paltry 1 percent to 2 percent more and sometimes multiples of that. But the market has grown each and every year, even though we have had six recessions during those 40 years!
“As a person thinketh, so they shall become.” - Paraphrased from Allen.
Think scarcity, recession, bear market, contraction, depression or free fall, and you will struggle in 2009. Think prosperity, abundance, bull market, late year growth and upticks and you will be more likely to get your share of this growing market. Be lean? Absolutely. Spend wisely and target your marketing? For sure.
But please do not fall prey to the sirens song of doom that the media frenzy incites. Our dental expenditure market and our the laboratory’s fair share of the same will not grow in a robust fashion this year or last - but grow it will. Stay positive. Stand up. Act in a fashion that supports a preferred future for your team. Grow! Prosper! Even if it is just a little.
