Afraid of the Recession? 5 Tips to Succeed

Almost every financial pundit says a recession looms in front of us. Philadelphia, photo by the author.

Are you afraid of the recession impacting you or your company? Economic headwinds impact many of us, from creating more difficult revenue generation scenarios to budget cuts and sometimes departures. Having survived several recessions in my career including one as a business owner, I see recessions as opportunities to adapt new approaches and strengthen business practices.

In short, recessions can create pivots that drive success.

No individual or company can single-handedly prevent a recession. However, there is still business to be done. The world does not end.

While subject to economic conditions, whether direct or tangential, how one approaches a recession is completely within an individual’s control. Consider these five tips to inspire your personal approach to facing economic headwinds.

1) Optimize Value

Determine your most valuable work, and double down on it. Philadelphia 30th Street Station by the author.

While a steady hand helps, one approach I don’t recommend is carrying on as if nothing has changed. This incurs risk, in my opinion. Recessions catalyze change as businesses adapt to survive and grow. Companies look to double down on value creation via their existing business…