Tag: recession

Navigating Growth Amid Headwinds That Make Big Goals Impossible.

In a perfect world, you would get better every day. You would become smarter, make more money, lose weight, grow your business and enjoy clearer skin 7 days a week. It’s what competitors want to do. You have these kinds of growth desires both at work and in your personal life. They tend to be even stronger in the months leading up to your high school reunions.

But at times you will face headwinds that won’t allow for growth. Not even Bob Seger can run against them. These headwinds won’t allow you to hit your goals, increase revenue, lose weight, or improve on whatever metrics you are using to measure yourself.

This is because sometimes the prevailing conditions work against you. These conditions can come in various forms, including the following:

  • Interest rates
  • Pandemics
  • Elections
  • Seasons
  • Weather
  • Fuel Prices
  • Illness
  • Injury
  • Cost of Goods
  • Scarcity of Labor
  • Venus in retrograde
  • Holidays
  • Recessions
  • Depressions
  • Travel
  • Embargoes
  • Bird Flu (Good luck with those Easter egg dye kits, PAAS…)

These factors can freeze industries and opportunities. They are abnormalities that create additional uncontrolled variables in your success experiments. But they are typically temporary. Unless your category has been totally disrupted. (Make sure you don’t mistake a headwind for category disruption. Or you will find yourself working at Blockbuster, waiting for customers who are never coming back.)

Remember the life-saving advice not to swim against the forces of a riptide. Apply the same advice to headwind conditions. Don’t tire yourself out trying to fight a force you can’t beat. Instead, conserve your energy. Wait it out. Or escape the headwind by moving to a different product, category, opportunity or goal.

Key Takeaway

Set lofty growth and improvement goals for yourself and your organization. But recognize when conditions create headwinds that make them difficult or impossible to achieve. Those conditions are almost always temporary. Adjust your expectations. And prepare to resume your march towards your big hairy, audacious goals as soon as the headwinds abate.

*If you know someone who could benefit from this message, please share it with them.

+For more of the best life lessons I have learned check out my book, What Does Your Fortune Cookie Say? from Ripples Media.

Why it’s important to know what you would do with more downtime.

Are you busier than ever, or not busy enough? A tight labor market, high demand for your work, and a strong push for an efficient workplace will keep you running from the time you clock in until you clock out, and Fred Flinstone down your dinosaur each day.

However, in an economic slowdown, there is a good chance you will not find yourself so busy. In fact, you may already have more time on your hands than you ever wanted. Or ever needed. Which sounds like the lyrics to a Depeche Mode song.

It is valuable to think about what you would do to improve your job, business or career if you suddenly found yourself with more free time on your hands. (Or wherever you carry your free time.)

Many of us have forgotten what a slow work week is like because we have been juggling all day every day for years. But a slowdown and even a layoff can be a gift if you are prepared to use your time wisely.

During slowdowns, you can:

  • Learn new skills
  • Read and catch up with the industry
  • Develop or maintain relationships
  • Improve your processes
  • Amplify your business development efforts
  • Enjoy a little rest
  • Alter the trajectory of your career
  • Get involved with industry associations
  • Start a new business
  • Volunteer your time and expertise
  • Make the moment last and feel groovy
  • Realize you move too fast, you’ve got to make the morning last. So kick down the cobblestones,
    look for fun and feel groovy.

Key Takeaway

Prepare a list of things you want to do when the next slowdown occurs. Whether that is a slow day, a slow week, a slow month, or a layoff. The plan means you will make the most of your time. The slowdown becomes an opportunity to accomplish things in your plan. Remember, time is your most valuable commodity. Use it. Don’t waste it.

*If you know someone who could benefit from this message, please share it with them.

+For more of the best life lessons I have learned check out my book, What Does Your Fortune Cookie Say? from Ripples Media.