How To Profit From Recessions

(By Gil Gerretsen) Business sunshine comes and goes. Business storms come and go. Cloudy days come and go too. The same is true for changing economic weather. For the best life possible, we need them all. As professional rainmakers, we must know how to use them to advantage.

One of the most important things I have learned in my career is that the economic storms of a recession play an important role. I call them “economic realignments” because they wash or blow away dead and crusty things lingering on the surface while providing nurturing opportunities for new growth that is just emerging.

Economic realignment is generally called a recession by economists and the media. Both imply that such cycles are undesirable. However, I think they are a desirable cycle. They set the stage for improvements. They create an environment where the established, but unproductive “old guard” can be overcome by vigorous renewal and new growth.

So, as you think about growing your business during economic cycles that bring sunshine, clouds, or storms, recognize that each provides an opportunity to prosper, grow, or reinvent. Will you be the person who rages in anger at these cycles by trying to maintain the status quo? Or, will you be the person who takes eager action and flourishes while others fade.

Remember that, no matter the conditions, you will often hear birds singing because good things are approaching and they are just telling the others to gather around and prepare. To grow your company faster, easier, and with less risk, you must have a tactical plan for all economic weather.

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