You can debate this question from both sides of the fence whether or not we are actually in a recession. Semantics or definitions asideâ€¦ does a label really matter?
Some segments of our economy are doing poorly while others are not. What matters is how your individual business is doing and what are you doing about it?
It also boils down to a mindset. When adversity arises some people complain and mope around and do nothing but continue to complain. Others look at all adversity as an opportunity, exploring ways to make things happen.
It is the old glass half full and half empty argument and perception is key.
For many it is not easy and I am not negating hard times. Many people and businesses are truly hurting. I do not mean to downplay any suffering.
Downturns in the economy seem to go in cycles and when you talk to business people who have been around for a while you see that times get better and times get worse.
So it comes back to how you deal with life and its bumps. Stuff happens!
Preparation is important. Most times we don’t concern ourselves enough about the future. We think that we can deal with things as they come or we don’t even give the future any thought.
Katrina has taught us all the lesson of not being prepared and not reacting properly to adversity. As hurricane Gustav approaches this weekend I am pleased that detailed plans have been implemented to avoid another catastrophe.
Do we do the same with our personal lives and business position? Do we plan for any future downturns in the economy, like eliminating debt rather than adding to it? Or, stocking up on extra items in advance?
Making bad choices in life can make a bump feel like a mountain. Sometimes reflecting on past decisions and giving better thought to future decisions can avoid a problem. Life hands us enough problems so why add to this burden by not having a game plan?
Having a positive attitude seems key. When you look at successful people you see the common thread of being positive and getting things done.
In looking around me at the business people I know, most are very successful and despite our present economic situation, they are doing very well. I see them all actively marketing themselves and their businesses mostly through word of mouth networking and staying active in meeting people and getting things done. They give their customers great service. They have high integrity. They are not afraid to think outside the box.