Looking for the Pony

You may have heard this story before;  I have heard the term a number of times over the last several months, particularly in descriptions of the stock market’s recent performance.  The story was one of Ronald Reagan’s favorites and goes something like this:

A young boy was very optimistic — much so that his parents were concerned and wanted him to develop a more pragmatic view of the world.  After they failed to encourage a more “realistic” mindset, they took the boy to a prominent psychiatrist, who also failed.  At long last, the psychiatrist sent the boy into a room full of manure.  But rather than suffering disgust and despair, the boy excitedly began digging.  When asked why, the boy proclaimed, “With all this manure, there must be a pony in here.”

Its a great story because it is simple, unexpected and memorable.  But it is also a great story because it is about your view of life — you can’t always choose what happens in your life, but you can choose what you do with it.  This is no time to be a Polyanna.   The economy is presenting all of us with challenges that we may not have expected.  But it is not the end of the world, either.

I saw a feature on television last week in which the commentator noted the chocolate chip cookie was invented during the Great Depression.  It was silly.  But there are a lot of inventions that have been made during recessions or depressions over the last 100 years:  bakelite (plastic), freon, neoprene, analog computer, FM radio, radar, nylon, helicopters, solar batteries, the polio vaccine, communications satellites, the laser, birth control pills, recombinant DNA technology, CAT scans and the artificial heart.  The Great Depression also brought other innovations, including the rise of professional management in business, dramatic changes in retailing, and the first television broadcast.

The bottom line lesson?  Economic upheaval creates opportunity for growth and innovation.  The point of my blog is to uncover those opportunities and share them here.   Stories about what people are doing to survive and thrive – grow or at least maintain their businesses.  And I hope you will share your stories with me.

Best of luck.