If you’re feeling like the current market isn’t working for you right now, you’re not alone! Over the next four weeks we’re going to explore The Current Market and What to Do When Things Don’t Seem to Be Going Well. Today is all about understanding the current market. In Part 2 next week, we’ll talk about how to stay connected with your audience. In Part 3, we’ll discuss how you can quietly build in the background while everything around you is chaotic. And in Part 4, we’ll talk about staying the course and how your vision will carry you through tough times.
This is a timely and relevant topic that resonates with a lot of people—myself included—especially with the unpredictable shifts happening in both the economy and the creative business landscape. It can be tough to know where to focus your energy when things seem off-track, or when it feels like everything’s a little bit scarier than usual, and you’re not sure where to turn. That’s why I built this series—to provide valuable insights and practical steps, without all the doom and gloom.
Here’s why this is so important:
Almost every creative entrepreneur is grappling with these very questions, and the truth is, acknowledging we’re all in this together means you're not alone. It’s okay to feel uncertain. We’re navigating this landscape as a community.
The focus here won’t be on what’s going wrong but on what you can quietly achieve right now, behind the scenes! You can still build adaptability, resilience, and regain momentum. We’re going to talk about what to do during challenging times so you have something concrete to grab onto.
The goal is to center our conversation on strategies for growth—even during tough times. This could mean re-evaluating your approach, adjusting your marketing, or finding new opportunities in the face of change. In fact, that’s exactly what I’m doing myself, and I have to say, it’s been motivating and even refreshing.
Since I’m experiencing the same uncertainties in business right now, this is a great opportunity to share my real-time experience with you: What’s happening? What am I doing about it? And how is it working so far? Plus, what are the go-to action steps for tough times like these?
Like I mentioned, this is a four-part series, and you don’t have to listen to all of them in order—each one provides standalone advice for navigating today’s business climate. So let’s dive into part one—Understanding the Current Market and What to Do About It. And, of course, there are a few surprises inside!
The current market may feel like the perfect storm of uncertainty, but here’s the thing: market cycles are natural, and it’s something we’ve all seen before. What feels especially tough this time around is how quickly everything seems to be going downhill—prices are soaring, consumer behavior is shifting, and uncertainty is everywhere. It feels overwhelming because you’re in it—right now—feeling every shift, every tiny detail in the here and now.
And to make things worse? The constant barrage of fear-mongering in the news and on social media. We live in a time where every little shift is amplified, dissected, and often blown way out of proportion. It’s like the entire news cycle is engineered to send us into panic mode 24/7.
You have every reason to feel uneasy. Seriously, no one can blame you for wanting to stay informed so you can take the right steps. But here’s the kicker—educated by whom? Who decides what’s actually “appropriate” in a situation like this? Are we really getting the truth, the full truth, and nothing but the truth? In the age of social media, that’s a tough one!
Take a deep breath. Let’s talk about what’s really going on: the economy is in transition. This isn’t the first time, and it won’t be the last. I’m not here to scare you. I just want to give you a quick snapshot of reality so you can see that what we’re experiencing is normal—not good, but normal—a temporary dip in the cycle.
Let’s take a quick look back:
• 1929 - The Great Depression: Triggered by the stock market crash, over-speculation, bank failures, and agricultural overproduction. Unemployment soared to 25%, and nearly half the country’s banks collapsed. Recovery took time.
• 1937 - Recession: Just eight years later, the government reduced spending, raised taxes, and the economy shrank over 18%. Unemployment spiked again, and recovery stalled.
• 1953 - Recession: After the Korean War, defense spending was reduced, and interest rates went up. The economy shrank by 2.4%, and unemployment rose once more.
• 1973 - Oil Crisis: The Arab Oil Embargo led to stagnation and inflation. The economy shrank by 3.2%, and inflation hit a whopping 12.3%.
• 1980 - Recession: The Federal Reserve raised interest rates to curb inflation. Unemployment soared to 10.8%, the highest since the Great Depression.
• 1990-91 - Recession: A rise in oil prices due to the Gulf War and a credit crunch led to a 1.4% contraction, with unemployment reaching 7.8%.
• 2001 - Dot Com Bust: The bursting of the dot-com bubble, the decline in investments, and the 9/11 attacks destabilized consumer confidence. Unemployment reached 6.3%.
• 2008 - The Great Recession: Triggered by the housing collapse and risky lending, it was the worst financial crisis since the Great Depression. The economy shrank by 4.3%, and unemployment peaked at 10%.
And here we are today—post-pandemic recovery, global conflict, and political uncertainty. In response to inflation, the Fed has raised interest rates, which has slowed investments and led to a recession.
It’s a lot. But what I want you to remember is that this isn’t brand new. We’ve seen similar cycles before, and each time, the economy eventually finds its footing again. It returns to normal, even if it is a new normal.
Right now, we’re experiencing something known as a "trust recession." What does that mean? Well, it’s simple: consumer trust is low, and so is confidence in businesses and government. People are holding off on spending, being cautious, and everyone’s just waiting for the storm to pass. And to make matters worse, social media often makes it worse by fueling the fire. It only takes one piece of false information to spread, and suddenly, everyone’s caught in a whirlwind of "what ifs" and "what's coming next?"
And we’ve seen this before in history, but what makes this different? The answer is how things are covered.
Take a step back with me for a second. In 2008, when the market crashed, the media did report it—but let’s think about how it was covered. News only came from more traditional sources: TV news channels, The New York Times, The Wall Street Journal. These outlets provided in-depth coverage, with analysis from economists, officials, and financial experts. The stories were fact-based, giving you a structured look at what was going on and what to expect.
As a creative entrepreneur, you might have seen or read these reports, processed the information, and carried on. You didn’t live in a constant state of fear or panic, because you weren't receiving moment-to-moment updates every second of the day. It was a daily or even weekly update, and there was time to reflect and adapt. It wasn’t instant. It wasn’t overwhelming.
Now, fast forward to today: the news cycle is 24/7, and social media amplifies every small shift. Smart devices and apps are constantly bombarding you with updates, headlines, and notifications. Everything is considered “breaking news” and “urgent.” You can’t escape it. The constant stream of information, often sensationalized and misrepresented, puts you on edge.
We are living in a state of perpetual anxiety because we are constantly surrounded by negative news and updates. In 2008, the situation was just as severe or worse, but it wasn’t the nonstop stream of updates we have now.
This constant barrage of information, especially when it’s negative, feeds directly into what’s known as confirmation bias, the tendency to seek out, and pay attention to or believe, information that aligns with our existing fears and beliefs. If you’re anxious about the economy, it’s easy to find more information to reinforce that fear. Articles, threads, and posts—many of them opinion-based—make it feel like the situation is much worse than it really is. In 2008, you didn’t have the same quantity of hyperbole or polarized opinions flooding your feed.
Back then, we had trusted financial experts and reporters offering solid, fact-based news. Today? We’re drowning in opinions. This flood of content, especially on social media, is based on personal viewpoints or emotional reactions, not on facts. This can create confusion and fuel more panic, which can keep us from making clear, rational decisions.
As a result, it’s easy for us as entrepreneurs to feel overwhelmed and unsure of where to focus. In 2008, the information came slowly and methodically, and while the situation was bad, it didn’t constantly overwhelm you. Today’s digital landscape keeps everyone on high alert, making it difficult to focus on the business at hand.
So, what does this all mean for you, the creative entrepreneur? You have more control than you think. Instead of letting fear dictate your actions, let’s talk about how to keep your business moving forward—even when it feels like nothing is going right… because let’s be honest, it’s not right now!
Here are some Key Insights to help you talk yourself off the ledge:
First, understand the current market cycle: The fear you’re feeling? It’s not unique to you. It’s part of the natural ebb and flow of the economy. Yes, fear is amplified by the media, but we’ve been through cycles like this before. And guess what? The market will correct itself—just like it always has. But we still need to weather the present moment. So, let’s plan to be smart about it and make sure we’re moving forward, even if things feel slow.
Second, recognize the difference between Media fear and reality: Here’s where it gets tricky. News outlets and social media thrive, and even profit, on sensationalized headlines. Everything feels like an emergency, but in reality, it’s often less severe than it seems. Social media platforms, built for constant engagement, thrive on division and drama, which only fuels unnecessary panic. We've seen this before. Think back to how the 2008 recession was covered—do you remember? It wasn’t the same frenzy you see today, because social media was barely a blip on the radar then!
Third, understand the Trust recession: We’re hearing a lot about the "trust recession" right now. This term refers to low consumer confidence, which leads to a cautious market. People are holding back their spending, and as a result, everything seems to slow down. But here’s the thing: This is NOT permanent. It’s just a moment of cautious waiting. Once confidence returns, things will pick up again. When that happens, I want you to be ready!
So What’s the Impact for you and I as creative entrepreneurs?
The problem with the constant barrage of information today is that it leads to fear-based decision-making. There’s no time to process or digest news in a healthy way. The rapid-fire updates cause people to react out of emotion, rather than strategy or logic.
In contrast, back in 2008, while the economy was truly in trouble, people had time to digest the information and adjust their thinking. Yes, it was serious, but the news wasn’t coming at them 24/7, making it easier to process. You had time to think, adjust, and plan.
It’s also helpful to understand the difference between The Experts vs. Social Media Noise:
Let’s dig a little deeper into this. In 2008, the experts you were hearing from—economists, financial analysts, and experienced journalists—shaped the narrative. Yes, it was a tough time, but the information was coming from people who had years of experience, data, and real insights. These were trusted voices guiding us through the crisis.
Today, we’re in a completely different landscape. Social media and user-generated content have created a space where anyone with a smartphone can broadcast their opinions as “news.” And guess what? Most of it isn’t fact-checked. Everyone can present themselves as an "expert," which makes it harder for you to sift through what's real and what's not. This is where things get tricky for us as creative entrepreneurs, especially when dealing with the fear and uncertainty in the air.
And if that wasn’t enough, let’s talk about Artificial Intelligence. It’s playing a bigger role in shaping what we see, hear, and feel on social media. AI can create content that mimics human voices, but much of it can be misleading, manipulative, or even outright false. It’s everywhere. It’s contributing to the flood of counterfeit news, false alarms, and driving even more confusion and panic than ever before.
We’re now in an era where opinions masquerade as facts, and it’s hard to know who or what to trust. The result? A growing "trust recession," where we have a hard time believing what’s being presented to us, even if it’s something we desperately need to understand to move forward.
So Ready for some good news?
How Does This Help you Today?
What’s going on right now isn’t entirely new. Yes, there are real challenges, but it’s important to remember that every market has its cycles. This is the moment we’re in, and while it’s a challenge, it will eventually right itself. In the meantime, we need to lean on resilience, adaptability, and focus on the control we have over how we respond to the situation.
It’s okay to feel uncertainty and discomfort. In fact, acknowledging those feelings is essential, as they can affect you and your business. But it’s also crucial to disengage from the constant cycle of fear and focus on what you can control in your creative journey.
That’s why, now more than ever, it’s essential to stay grounded in reality and be intentional about where you’re getting your information from. Social media has its advantages—connecting with peers and sharing resources—but it’s a double-edged sword. We need to learn how to filter through the noise, seek out credible sources, and tune out the fear-based content. The truth is out there, but it’s up to us to be diligent about where we place our trust.
Now that we know what’s happening, let’s talk about how to stay grounded and proactive during this time. Instead of retreating into panic, there’s real value in quietly building your business in the background while the market stabilizes.
Here’s Where you need to focus your energy.
Adaptability is Key: In the face of these challenges, businesses and entrepreneurs need to stay adaptable. This means reevaluating strategies, pivoting where necessary, and focusing on long-term growth rather than short-term wins.
Focus on Resilience: While it’s easy to become discouraged by inflation, rising costs, and uncertain times, building resilience—both financially and mentally—is crucial. It’s not just about surviving the storm; it’s about preparing for what comes next. As we’ve seen, the cycle will come back up, so you want to be prepared and ready for when the consumers rebuild that trust and come knocking on your door.
Opportunities in Crisis: While downturns present struggles, they also present opportunities. Now is the time to look at new business models and ideas, innovative solutions to problems you’ve been having but just didn’t have the time to deal with it, and the rise of digital services are reshaping industries including creative ones. It’s about looking for those silver linings and positioning yourself to take advantage of them.
So, think about those three key aspects and where you might want to focus your energy this week. Pick one and really dig in to study it, and see how it can apply to your own business.
In the next 3 episodes, I’ll be diving into these very topics—how you can be adaptable, how you can be resilient, and how to find and take advantage of opportunities. I’ll be sharing what I’m doing about it, and what’s working (and what hasn’t!).
So, in Part 2 next week, we’ll talk about how to stay connected with your audience, even when they may not have the confidence to buy from you yet. In Part 3, we’ll discuss how you can quietly build in the background while everything around you is chaotic. This is the perfect time to start doing those things you haven’t had time or space for up to now. And in Part 4, we’ll talk about staying the course and how your vision will carry you through tough times. I’ve always said it – but your “why”, your big “why”, your big vision is what’s going to carry you through now. Keep an eye on what you were trying to build, and keep your focus on that, and take the steps toward it.
Thanks for tuning in! Don’t forget to join me inside my private Facebook group, Virginia’s Studio Cats, or if you’re looking for more help, check out The Maker’s Path—my monthly membership, where you get direct access to me, business lessons, guest experts, and monthly Q&A sessions. Just head over to virginialeighstudio.com/themakerspath. I’ll link everything in the show notes.
Have a fabulous week, and remember to breathe deep—we’ll weather this storm together.
