With all of the negative media and the uncertain economic conditions it’s not surprising that Australia had slid into recession for the first time in 28 years (and the US was already officially in recession in June this year). You can anticipate what the news and media outlets will be doing, spreading the fear that comes along with the economic uncertainty (and sells advertising!)
So what is your strategy? Will you hunker down and cut across the board and hibernate until things turn around? That is one approach, however I believe that many businesses will not survive if they take this common fear based tactic.
I reckon what you should do is look for the opportunity. History is a great teacher and if you look back over the past, many opportunities occur during times of economic roller coasters.
So what will you do? It may be advancing some of the projects that you had on the back burner, investing in new areas of opportunity or creating new projects that can create new streams of income.
audentes Fortuna iuvat is Latin for ‘Fortune Favours the Bold.’ Remember this the next time you find fear taking over and clouding your creative thinking. To do this you will need to step out of the normal, stretching your comfort zone and trying things that may (or should) be new to you. Lead boldly and create a culture that inspires your people to step up to the next level and you can achieve incredible things.
If you would like to learn a number of strategies and gain some inspiration on leading, you should attend the Hands Leadership Bytes Online Conference. It takes place on the 10th of September from 10am-3pm AEST. You will learn from some leading thinkers including James Dion who will look at the psychological impact of the pandemic as well as the CEO Fast 5, which includes insights from Optus CEO, Kelly Bayer Rosmarin.
If you would like to find out more please go to the Leadership Bytes Website. Remember to be quick as this is next week and is a great opportunity to to be inspired!!