How are you feeling about the current global recession? Worried, concerned, panicky, depressed or excited, motivated, creative, raring to go? Do recessions fill you with gloom? Or do you find recessions exciting and stimulating?

How you feel about economic growth periods or recessions depend on your paradigms.

PARADIGM 1: 'RECESSIONS ARE BAD. BOOM TIMES ARE GOOD.’

If you have a paradigm that values short term profitability only, then you’re only going to be happy when sales  and profits are constantly growing, and everyone is kept busy. In recessions, when sales  and profits decrease, your focus will be on retrenching staff, cutting costs and waiting desperately for the economy to turn.

PARADIGM 2: RECESSIONS ARE GOOD.

Recessions provide us with valuable time to get prepared for the next boom period.

During economic booms we are often under pressure to produce enough to satisfy the needs of a growing customer base. There is no time to focus on anything but sales  and operations. It is rare that we have the time to ‘spring clean’ our businesses, or get creative about establishing new markets. A recession however, provides us with the luxury of time to organize and build our businesses for the next boom period.

HOW TO ENSURE THAT YOUR BUSINESS BENEFITS FROM THE CURRENT RECESSION

This article provides 5 things you should avoid doing, and 5 areas to focus on, to make sure you get the most out of this recession.

FIVE THINGS TO AVOID DOING DURING A RECESSION.

1. Focus on what made us successful in boom times.

• Focus on the numbers.

• Focus on the operations.

• Keep focusing on doing the same things that made you successful before.

2. Get into a blame mindset.

• Blame the economy for your woes.

• Blame one another for ‘poor performance’. Blame marketing . Blame operations. Blame individuals.

• Blame your people.

3. Wallow in negativity

• Lose confidence in your abilities.

• Lose confidence in your team.

• Get depressed.

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