Recession?
Posted by
Ron Price on Tuesday, April 01, 2008 at 8:34 PM
Categories:
Strategic Planning
Should I or shouldn’t I participate…in the recession.
I’m not sure whether we are really in a recession. Obviously, the media is convinced we are and there are some statistics that point that way—but the unemployment rate doesn’t line up with recession talk. And productivity continues to improve…so are we or aren’t we in a recession?
I have noticed that many people are in a “psychological” recession no matter what the real numbers are. However, I’m also hearing lots of good news. New businesses, record turnouts at Chamber events, rapid growth at our local Better Business Bureau…and happy, smiling farmers because of the great run commodities are having.
All of this to raise the question, “When there IS a recession does that mean everyone should put on a long face and accept the inevitable?” Or is it possible that we can “choose” to avoid a recession in our own business? Are there opportunities during an economic slowdown to actually increase our advantage? (Starbucks experienced dramatic growth during the last recession because they had a strategy for how to take advantage of the external realities.) What if we could innovate in such a way that our businesses grew more during a recession than when everything is going well? I’m excited about working with businesses that “choose” to opt out of the recession and to find new opportunities while others are singing the blues.
That is how I plan to respond to the current economic circumstances. I continue to believe Napoleon Hill’s quote, “Every problem or adversity has contained within it a seed of equivalent or greater benefit.” So, I’m looking for those seeds and I’m going to plant lots of them! I hope you will too!
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