I know you just read Recession in the title and just want to run away read something less stressing. Just hold it’s right there!
The fact that there is a crisis, a pretty bad one, is undeniable.
people, and in particular entrepreneurs and venture capitalists (VCs) have bought it so much that they just take it for granted. Before they even have felt any damage or impact on their venture they already accept the fact that things are going to go bad, that it’s going to be tough, and that there is nothing they will do about it.
This conduct is tremendously dangerous. First, the bad things they are going to experience may not even be related to the recession, crisis, crash…call that how you like. The recession is just going to be a pre-maid and commonly tolerated excuse for failure in those whom have a hard time standing firmly and face problems.
It’s also dangerous because it creates a feel of frustration, that coming from the fact you don’t control everything anymore as if there was a supernatural force acting against you.
By accepting bad times before they really occur, you just make them exist out of lack of confidence and pessimism. Whatever you believe in strongly will realize with an incredible accuracy with the depiction you made. All the more if everyone is convinced so. That wave, that picture, that signal vibrates in chorus and the result is out there soon.
So if that thing you picture is Recession (bad times, running out of money, employees leaving for a better salary) then recession says “Your wish is my command”. This sentence will be very familiar to those of you who have read about or watched the Law of Attraction.
I welcome whatever may come with my arms open. May it be a real bad recession or something at last not that bad.
IF RECESSION THERE IS, look at the good side of things ! Speaking particularly from an entrepreneur point of view, if you go through (and with determination you are likely to do so) you’ll be able to face anything. All engineers in France whom went through those 2 years of (extreme hell) preparatory school know something about it.
IF RECESSION THERE IS, be standing out there as the one optimistic in a crowd of people that are less in the mood for getting involved in something new, people less creative, less dary. There is a real opportunity to get an edge over potential competition, and maybe particularly over existing established competition. Those will be the busiest with other things than creating new value: restructuring…which basically means firing useless people, cutting down useless costs, suing your bank, and trying to get the money back from CEOs you overpaid.
IF RECESSION THERE IS, there’s an opportunity for hiring talents. They may actually come from those established companies that suffer more than your intended startup. People with skills and experience would be less picky than in prosperity…prosperity here means when you think everything is going fine but you are wrong. It’s only going fine for those who know it’s going to smell bad soon but whom won’t be affected much : namely irresponsible traders and their irresponsible hierarchy’s management.
IF RECESSION THERE IS, you’ll probably filter your projects through a finest net than usual, thus letting only the most likely to succeed to through.
IF RECESSION THERE IS, there will be problems, giving you new material to think about and maybe to solve. I talked to a conference organizer that was telling me that with the recession times will be harder for him than usual. Companies indeed cut costs. Although his conferences seem to be really insightful, on the short term, ordering a conference is more an expense than something that pays back fast. Right away, my answer was “Why don’t you make a conference using the recession to your advantage and create value for your audience?”. Something like “How to Survive in Recession”. He’s good, I am sure companies would be seduced.
Also, recession has very valuable virtues, it removes a lot of either stupid or costly or useless processes (or people) in all organisations. This will undoubtedly be beneficial after the crisis, shall there be one.
All this is just to say, always think in a positive way, allow in your imagination and brains only the picture of what you want to achieve.
Whenever something bad comes in, hold your feelings (I know it’s hard), find a way to go around it, or at least minimize the damage, and ultimately make that issue act to your advantage.
Whether you think you can or think you cannot, either way you are right.