What I Learned from the Big, Bad 2008 Recession

That was one bad recession. As an Austin based Executive Search Firm, all signals look like the USA is finally pulling out of it.

My sector tends to be a great barometer for measuring economic health. In a very robust year for my firm and the economy, if we receive one new executive search per month, that is a great year.

Examples come to mind. In 2005, while the economy was in overdrive, we completed 19 searches. In 2008, we completed just 6 executive searches. That 2008 pattern persisted in 2009 and 2010. It was ugly.

Thus far in 2012, we have been very fortunate to have received 5 new searches since the first of the year! If this trend continues, 2012 could be a very good, memorable year from an economic point of view.

Assuming that the worst recession in my lifetime is over, there were many lessons learned from a personal point of view:

1) I am not my job. I am more than that. I am a Husband, Father, Son, Brother and good Friend to others. All parts of my life do not have to be perfect to be a happy person.

2) I count my blessings. I have my health and my spouse and children are happy. I pay my bills and save and have a very good life that is worth living. I make a difference.

3) Don’t take business downturns personal. It is about the economy. If my clients could work with me and they have a special need to, they will work with me.

4) Business trauma is a recipe for re-invention. That is how Salvatore Balistreri Consulting was started. The bad economy forced me to do some serious thinking about change and doing what I do, better.

5) My family does not love me due to my W-2. They were supportive, loyal, loving in 2005, 2008 and 2012. It does not matter what income I make.

I hope all of my valued readers of this blog are starting to pull out of the big, bad recession of 2008. I also hope you learned something valuable about yourself after experiencing this awful economic challenge of our generation.