How to – Thrive in Tough Times Unless you’ve been meditating on the top of a mountain or hibernating in a cave, you are all too well aware of the economic situation in our country and around the world. It’s hard to get through a news cycle without hearing about how hard it is, how challenging it will be, and how more bad news is expected.

You can join in, wring your hands, and bemoan the current situation. Many people are doing exactly that. Or you can behave in ways that bring an upbeat energy to your work and your employees, and may bring business through your doors.


Internal Audit
First you need to review what you are thinking and how it is being translated into the words you speak. If enough people talk about how awful things are in the marketplace, then it not only becomes more of an awful marketplace, but everyone is focused on how bad it is. If you are focused on the negative, it will take you that much longer to recognize anything that may be positive. You can’t change the news being reported, but you can control how much you listen to it. Although you may not be able to get a handle on how concerned you are, you don’t have to be talking about it all the time. Pay attention to the words you speak. Your colleagues, employees and customers are listening.


Other Action Items
Additional things to do when times are challenging:

• Find a consultant, coach, mentor, or business guru who can offer you support and a different view on how to run a business, or identify alternative strategies and goals.

• Volunteer to sit on a panel, speak, or join a committee to provide some additional and fresh exposure.

• Get out to network at least once a week. If you are networking at the same places, try a new organization.

• Connect with local colleges and universities. They can always use expertise, and it may provide you a new avenue for ideas.

• Partner with others to provide added value to customers and develop new products or services.

• Get creative with price. Think about bundling services, or adding discounts for quantity or early sales.

• Thank existing customers by offering them a discount for returning and buying again.


I’m guessing you could add to this list by conducting a brainstorming session of your Advisory Board, Executive Team, Management Staff or employees. Rather than posing it as a question of staying in business, think about positioning the meeting as a way to generate energy and enthusiasm. If current economic conditions are going to be the “new normal”, create an organization that plans to thrive in tough times.  9:01 AM •