Business Admin Undergrad, looking for business experience in the real world
Arlington, VA
Question: Recessions--CHALLENGES? Or Money DROUGHTS? It ALL depends on PERSPECTIVE!
Posted 07/08/2009 at 11:20 AM in Managing Your Business
OK ok...I understand that its quite different out there in the "real" world so to speak. Insane amounts of job losses, umployment rates skyrocketing and tons of people (in fact, millions) with no health insurance.
BUT, would it hurt to look at these tough times as a CHALLENGE?
hmm....perhaps not. Since you can use the same amount of energy babbling about how bad things are, why not just use that same energy to focus on RESULTS and SOLUTIONS, not PROBLEMS and MORE PROBLEMS.
Its pretty crazy how much we tend to focus on the negative....for example: "I don't want to lose x amount of employees, profit, revenue, or market share, etc etc by this time" INSTEAD, how about this: "I choose to reach more customers and motivate my employees to a standard or goal that I have set up to aim for, and I choose to look at these tough times as a challenge and not as a drawback"
How have you used this recession as an advantage and not as a drawback? What can we as a business community, as parents, kids, students and mentors learn from these times?
Thanks for reading and answering!
Excellent points! People should focus on the opportunities presented by today's economy. I wrote an article about people being like cattle. I guess we just can't help ourselves from jumping on the bandwagon, regardless of where it's taking us!
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Dan has 238 Answers and 1329 points
I agree with you and Dan. Rethink your business. See what other products and services you can offer your customers. Also, see how you can improve what you are doing. Reinvent yourself. There are always opportunities that you may not have discovered.
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That's true, I think just being open to possibilities with new results/positive outcomes is the first step...but OH boy! Thats not all! Because once we commit to something its tough to let it go unless the facts are completely in front of us and shake us out of our illusions that we may be committing to something not worthwhile.
Thanks for the answers!
Much appreciated!
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This year has definitely been quite a good and productive one for me. If anything the recession has made me more 'aggressive' with my marketing and in pursuing relationships with larger companies and well-known branded companies. As others slow down and regroup it is time for solopreneurs and small business owners to get on the radar and shine. Companies are downsizing because they can't afford to have a payroll but they still need many of the services. They can pay an individual $50,000 a year for marketing or alternatively they can pay a freelancer half of that to do work as needed. Either way, the bottom line is they still need the services. If you were laid off you may be able to do freelance consulting instead of seeking another job and as a result in more money.
It helps to have a current resume or capability statement for your business and a current price list. Don't rule out anything whether it is consulting, account maintenance, project management or offering training workshops. If you got the knowledge then package it and sell it.
Bottom line,small business owners need to be fearless, get out there and market everyday to get themselves noticed and on a contract. Stick with it and expect that it will happen.
Shonika Proctor
National TV Business Commentator
Pioneer of Teen Entrepreneur Coaching
Twitter: @TeenBizCoach
Keep it real and keep it moving.....Continue to empower yourself and others by 'expressing yourself' in the community :-)
Teen Entrepreneur Blog
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TeenBizCoach has 120 Answers and 1136 points