As an up and
coming law firm, I am often asked what is it like to manage a
business in a recession.
My answer is, it is exactly the same as managing a business in a
boom!
No, I don't suggest you should bury your head in the sand. My
point is that a "boom time mindset" should also exist when managing
a business in a recession.
It is of crucial importance to keep a positive attitude and keep
the enthusiasm going. This can be done by realising few crucial
things:
1. Success or failure, largely depends on your state of
mind not your bank account or contacts;
2. Recessions come and go. For the "thinkers" among you
requiring proofs, just
Google the graphs and you will see the repeated pattern;
3. Recession can provide an excellent opportunity if utilised
correctly;
4. Really believe in what you do and then what you do becomes
recession proof;
5. You can choose not to participate in a recession!
Nothing beats Henry Ford's quote "If you think you can or you
think you can't- you are right!"
This is not optimistic babble, but true business strategy.
If you don't already, why not give it a go?