Many companies are still affected by the consequences of the economic downturn, global financial crisis..
. I do believe we are even allowed to say ‘downturn’ today, aren’t we?Most of it’s bad news, naturally, because bad news sells. But some of it is great news, suggesting that some people are doing well despite the recession.I have a different view.It is not about doing well despite a downturn. It’s not about being more resistant, or having more in reserve, or moving through the tough times, or ‘recession proofing’ your business.Do not recession proof your company.
For large organisations, who are large, gradual, lethargic and struggle to keep up that’s. Recessions provide great possibilities for small enterprises, who’re clever, nimble, agile and can adapt. It is survival of the economic fittest.Here’s the main element question: What issue are you solving?Recessions are not detrimental to every one. Yes, a lot of people are in pain, but if you might help ease that pain, you’ll do when there is a disease outbreak well.Doctors are in high-demand. When there is a bushfire fire-fighters come in high demand.
Companies, specialists, consultants and thought leaders who really understand their clients’ problems are in high-demand in a recession.( I chuckle when I hear colleagues say, ‘I won’t be involved in this recession.’ That’s such as a fire-fighter saying, ‘I refuse to participate in this bushfire’! )So what’s changed?The harmony has changed.In hard times, people are cautious, thorough, protective and spend their money on safety, defense, generating certainty and healing their pain.In good times, people have money to spend, and spend it on expansion, luxuries, nice-to-haves and spoiling themselves.So are you a brain surgeon or perhaps a botox San Diego?They both resolve problems, but they’re different problems, and they fit different times.Plastic surgeons thrive in good times, when people want to feel good and can afford to buy it.
Mind surgery, on the other hand, isn’t generally a discretionary spend. You get it when you need it, and if you need it you’ll buy it. And you’ll pay for the top (I wonder if anybody’s ever said, ‘Help – get me the lowest priced head surgeon you can find!’ ).If you’re performing plastic surgery – for example, a light, comfortable, exciting products or services – think carefully about whether this really is sustainable today. It’s still as effective as it actually was, but is it still as valuable?Now is the full time to become a brain surgeon. Comprehend your value, get good – truly good – at your craft, and apply it with laser focus for your clients’ problems.