I have emerged from the dark space (blogging-wise) where I have been during this weekend's National Restaurant Show. I almost skipped the show this year, concerned that the fear I was hearing from the industry would carry over into the show, lowering attendance, and reducing business relations to less than status quo.
Happily, I was wrong on most counts. Yes, attendance was down, but the quality of the attendees and the resulting interactions was way up. Key executives from up and down the supply chain were listening and doing business with each other. I heard a lot of cautious optimism, with the emphasis on optimism, with “caution” as a minor modifier. Most I spoke to were open to --- and enthusiastic about --- new ideas and innovative marketing concepts...again.
My personal theory? In the days of easy credit and breakneck consumerism, everyone was looking for quick fixes. There was a hesitancy to invest in anything long-term. The recent economic defibrillation has shocked all of us back into reality, helping us realize that we all have to better prepare for the future and solidify the long-term viability of our businesses and its connection with our customers.
As painful as it was, in retrospect we all needed to push the reset button and rebuild our business models. Too many were based on artificial foundations, and were therefore unstable. But when you’re up there in the clouds, you don’t look down on what is holding you up…you just keep climbing. Be thankful the fall didn’t kill us.
I also saw a huge pent-up interest in the possibilities of social networking, as a way to more firmly connect with our customers and stakeholders. There is real evidence that the days of “many-to-many” marketing and communications are over, and that one-to-one (and one-to-tribe) communications are needed to assure survival; further encouraging us to revise some of the foundations shoring up our industry.
Personally, I came away from the show with solidified client relationships, a number of new-found prospects, and a confidence that the industry is gradually climbing out of its funk --- perhaps still dripping with a sheen of primordial ooze --- but optimistic for the future. The light many of us see at the end of the tunnel is undoubtedly the sunlight of a new day.
I trust your vibe was as positive as ours.
“Only when the tide goes out do you find out who is not wearing a bathing suit.”
--- Warren Buffett