If you believe that this present financial situation is permanent, your best options are to cut back or complain. Cutting back on everything will help you deal with the tightening of the economy. Complaining will get you some sympathy.
If you believe that the present financial situation is temporary, your best option is to prepare for the upturn so you are not caught napping.
The Australian Institute of Management has just completed a survey based on the input of over five hundred Australian business leaders.
Seventy one percent said that the downturn is a good opportunity to build market share while their competitors are in retreat. Fifty nine percent indicated that retention of skilled employees needs to be a top priority.
So if you believe that our business leaders can predict the future, we have an opportunity to develop our people, improve our performance and be ready for the upturn in the economy. We can choose to be driven by fear or hope. History indicates that the downturn is temporary.
So…what can you do to develop and train your people? What can you do to help your clients? How can you help them to focus on an inevitable improvement in the financial situation? What can you do to get them thinking optimistically again?
Fear makes cowards of us all. Hope and optimism makes us brave. Decide not to participate in this temporary downturn.
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