Recessions: Don't ya love them? I've survived 3 and actually thrived in the last one. This one, I suspect will be much the same only worse for those dependent upon USA business. $9.5 Trillion national debt, $50 Trillion debt owed to the American public in social security, medicare, etc. and the average American with $10,000 in personal debt , often with a 2nd or 3rd mortgage, means the population is "at the end or very near the end of it's 'plastic'." The word I get from friends at The Economist, if China banks hold, we will have a normal recession. If they don't… hold on to your economic socks as it will be a very bumpy ride.
SO… how to survive or THRIVE in a recession? Here are 3 Recession-buster Steps.
1) Grab market share or boost your career. In every recession, most companies and people cut back. So, be the one to take on more. Take on other people's work and projects and ideally at a higher level. This not only guarantees you do NOT get fired, it positions you for the next higher job. Do not take on the 'C' work, take on the higher profile, higher level projects.
For the business professional, as companies cut back on your products or services, find ways to combine orders, save your clients money, start buying groups or do whatever you can to be the one REMAINING supplier of choice. They love you for it and YOU become the vendor who survives. Read More
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