Panorama Business Intelligence

When 2008 drew to a close just twelve months ago, the extent of the damage caused by the economic crisis was continuing to unfold, and the outlook for 2009 was pretty dismaying and bleak. After discussing the future with some fellow CEOs, I found that many of them shared the same sentiment: “2009 is a ‘dead horse’ for us. We just have to weather this one through. We’ll have to wait until 2010 for the turnaround…”

Was 2009 a “lost year” from a business perspective?

It was, if you only measure the year by growth. Most companies exhibited slow, minimal growth—if any at all.

But, for many, 2009 was a great opportunity. It was a year of a return to profitability, with many companies reporting negative growth somewhat offset by growing EBITDA ratios. It was the year to get closer to your customers—because their support would enable you to drive business in these troublesome times. It was the year to focus on what your company does best. It was the year that helped pull us out of the weeds and build a greater understanding of our businesses. So, for those of you who recognized the value that such a downturn can bring, it was the year of challenges that—with a little ingenuity, confidence and effort—turned into opportunities.

Thank you, 2009!