I just got a call from a friend of mine. She is president of a company involved in construction and remodeling.
Thinking I already knew the answer, I asked her how her business was doing. Surprisingly, she said “Great! We almost have more business than we can handle! Our challenge is getting enough good people to do the work.”
When I mentioned that a lot of businesses, especially housing related businesses, are experiencing a recession, she simply said “Not over here!”.
What do you think would happen if she started thinking, “Oh no. The economy is falling apart. And the housing market is the worst. I better pull in the reins, cut costs, not take on so many jobs in this risky environment, and start a hiring freeze.” ?
Exactly. It would be a self fulfilling prophecy.
So, does that mean we should just stick our head in the sand and ignore what we see? Of course not. But in every situation, there are opportunities for people that look for them.
If some of your customers are buying less from you now, think of ways you can provide more value to help them through difficult times. Not only will your business grow, but youâ€™ll gain some very loyal customers.
Be like the late Sam Walton. When asked for his opinion of the 1991 recession, he said, â€śIâ€™ve thought about it, and decided not to participate.â€ť Within only two years Wal-Martâ€™s share price was up 200% !
If you are a huge multi-national bank or investment company, then ok, maybe youâ€™ve got a steep hill to climb. But, if not, then ignore the exaggerations of the media, and just take care of business.
Like Earlene Vining says, “If it is to be, itâ€™s up to me.“