Turtling, Business Style

Turtling is the derisive term hockey players use when a supposed tough guy hunkers down on both knees rather than fight. Richard Martin, editor of the networking publication VON, says the press and a good deal of businesspeople are turtling because of the economy.

“This is not the Great Depression,” he scolds. “It’s not even the dot-com crash of 2001. It’s time to get out of the turtle position and start working, and investing, and looking to the future again. This is America. That’s what we do.”

He’s right that it is not the dot-com crash of 2001. It’s far broader than that. There are also potential demographic trends that suggest consumer spending in developed nations will slow for a generation.

But he’s also right that gloom needs to stuffed in a shell. Put it away for a bit, and figure out how to develop a growth strategy built around consumers in emerging economies. I’m reading the insightful book “Globality” right now, which has several intriguing examples of companies that have done just this. More on them soon.