MaineBusiness.com

Recession

There, I said it. What’s up with this politically correct propensity for using euphemisms like “The R Word?” It’s as if not saying it will somehow keep it away!

If there’s a recession coming; so be it. Most of us will do what we always do: SURVIVE. Some of us will do what few do in times of trouble: PROSPER!

Which will you choose?

I’ve been listening to quite a few people complain that “there’s nothing we can do.” Well, they’re right, sort of. There’s nothing any one of us can do about global economic conditions and there aren’t too many of us drilling oil in our backyards. It’s still winter in much of the country and we can’t stop the snow and the cold. We can get out and vote, but ultimately most of us have a minimal influence over national or even statewide politics.

There is one thing any and all of us can do at any time in any conditions that will make a real difference in the way each of faces adversity: THINK!

You know your business better than anyone else; at least you should! You got into business so you could have some control over your destiny. What can you do to prepare for a possible recession?

You can pay attention to market responses to media reports on the changing economy. How can you repackage or retool product and service offerings to address this change?

You can take advantage of media hype over pending economic disaster. How can your product or service make your customers’ lives better during hard times? Market to that advantage.

You can expand your market to areas not affected or less affected by economic downturns.

You can ignore the whole thing! After all, just as with meteorologists today’s economic prognosticators react to minute shifts in economic conditions. Last week’s bust is often reported as this week’s boom. For the record, I don’t recommend this ostrich approach; sometimes they are right. Be a good Scout and Be Prepared!

Most of all condition yourself to respond positively even in the face of negativity. For some unknown reason it seems the human psyche naturally gravitates toward negativity; we’ve got to train ourselves to maintain “positivity.” Do everything you need to do to maintain a positive mindset. Take care of yourself in body, mind and spirit.

In martial arts we say that every disaster is an opportunity. That means that the worst attack can bring out your best response. Keep your mind, heart and eyes open and you’ll find the opportunities in adversity. Stay sharp because in tough times the openings are few and they come at you quickly.

Maybe we are headed for a recession; maybe not. Either way you’ll be ready!

Jim Bouchard is author of Dynamic Components of Personal Power. Jim is available to Instigate positive thought and action at your organization! Visit www.JimBouchard.org or call 800-786-8502.

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