The Autumn statement provided depressing news for many households and entrepreneurs trying to build a future. Running a business is hard enough without listening to Euro crisis problems, poor growth forecasts and a recovery in the dim and distant future. The resultant effect of the Chancellors statement for many will be – baton down the hatches and reduce investment in people development and new ideas. This becomes a self fulling prophecy and usually you get what you think about.
There are always different ways to view the world, we can be a builder or destroyer of our own future. Well my advice is life is too short for two years of life to evaporate, i.e sitting there and waiting for economic recovery to happen, we should embrace a mindset of not taking part in the recession. Scarcity is the mother of innovation and history tells us that some of the most successful brands on the planet started or thrived during recessionary times here are just a few examples:
General Electric – Not only did Thomas Edison set this Company up in the middle of a recession it thrived when the US economy faced collapse.
IBM – Set up in the middle of a US economy slump
General Motors – set up during the US financial crash of 1908 and went on a buying spree when the Federal Reserve was approaching melt down
Disney – really started to take off smack bang in the middle of the Great Depression
Burger King – started just after the Korean war, its founders philosophy being people still need to eat
Microsoft – Started by Bill Gates and Paul Allen in 1975 when the United States was mired in stagflation -the combination of rising unemployment and inflation combined with stagnant GDP
CNN – Started when the Federal Reserve made the decision to aggressively raise interest rates to curb inflation, it caused a “double dip” recession
Apple– Apple got its start in 1975, during another downturn and thrived just after the dot-com bubble burst!
So the message is…Its not all bad news, it’s about having a vision and mindset to create something special and different. Whilst we must avoid putting our head in the sand and thinking all is OK, we must find a balance – place one foot firmly on the accelerator and have the other hovering over the brake!