What the Recession Taught Us
(AKA Returning to Basics)
We are living through challenging times. I don’t have to tell you that. In the blue corner, we have the worst recession since the Great Depression. In the red corner, we have increasing demands to produce “more from less.” This is not exactly the kind of motivation that gets you out of bed in the morning, but it’s certainly the kind that keeps you up in bed at night. So what’s a self-respecting businessperson to do about it—especially when your job might not be there in the morning?
We must understand the past to plan for the future, and when it comes to operating during challenging times, there is good news. Study after study clearly show that companies that continue to invest—and market—during recessionary times almost always reap the rewards of doing so when the economic climate stabilizes. In fact, they don’t just do okay; they do better than their competitors. Whether it’s priming the pump, setting the stage, or just continuing to keep the lights on to brighten an otherwise dim atmosphere, keeping the wheels turning makes sense.
There are probably several reasons or explanations as to why this is the case. Here are three:
1. Attitude (positive)
2. Boldness (risk taking)