Recessions are for recalibrating. Do not take the approach of waiting things out, only to come out on the other side doing the same things you were doing before. The world changes too fast.
The recession is a chance to give more focus to adapting to how things have changed — things that have changed not only because of the recession, but because change is always happening regardless.
And don’t simply adapt; shape. Take the recession as a chance to give even more focus to building something great.
By the way: the “something great” does not have to wait until the recession is over to emerge.
In fact, Tom Peters says “This is Not a Recession“:
Don’t think of our current economic crisis as a recession. Instead, think of it as a recalibration.
Everything is different now.
If you think of it as a recession, you may be tempted to “hunker down” and wait for the economy to cycle back.
If you think of it as a recalibration, you will be motivated to focus on what you have to do differently, since everything is different now.
The way your business generates results is different, now.
Your customers think differently, now.Your customers care about different things, now.
Your customers act differently, now.
Your customers may actually be different people, now.
Customers aren’t disposable anymore; more than ever, you have to create sustainable customer relationships.
Everything is different now.
I’m posting this on January 7, 2009. One thing I’m convinced of is that the world I am working in today is different from any world I have ever done business in. The world has been reset. We can no longer look at the “LY” column on reports to use last year as a benchmark for what will happen this year.