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«Return to Blog List Business Survival is a Multiple-Choice Question

Times are tough, and they’ll get tougher, according to just about every expert opinion you can find. Optimistic experts say the recession will last through 2010; pessimists forecast hardship for the next decade. The wailing and gnashing of teeth among business owners and their employees (not to mention the experts) has reached almost biblical proportions. According to the common wisdom, if you’re not whining and shivering with fear, you look a little foolish, like you don’t know what’s up.

But what does whining, wailing, and teeth-gnashing accomplish that is helpful to your business? Anything? No, I thought not. Times are tough, and business owners need to accept that as what is (gosh, that sounds so…Zen). But tough times don’t render us powerless. Along with tough decisions about cutting back, there’s potential for finding new and better ways of doing things that create new opportunities.

As the downturn worsens (and all the experts say that it will), every business owner has to choose one of three options:

  1. Fold up the tent and go home.
  2. Hunker down and try to survive.
  3. Recognize there is an opportunity in tough times to thrive, and decide that you have the courage and determination to take advantage of it.

Whichever choice you make, do it consciously, because it’s the unconscious choices that will do you in. If you choose "C," recognize that you will have to do things differently than in the past, that the changed economic landscape is no longer fertile ground for the "tried and true."

Choosing option C isn’t about "manifesting wealth" or "attracting good fortune." It’s about finding better ways to engage customers and working hard to gain their loyalty. It’s about having confidence in the value you have to offer. It’s about knowing that, whether the recession ends in 2010 or 2020, you’ll still be here, providing that value.

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