Recession Combat Fatigue

by Victor Cheng

I just came back from giving a speech to a bunch of students on  Santa Clara University. They were deeply concerned about the  recession and how this effects their getting jobs.

Last night I gave a speech to group of seasoned businessowners. The business veterans were pretty nervous too.

Everywhere you look, people are nervous. The vast majority of the news about the recession is negative and usually overly so.

When there’s positive news, it too is usually overlyemotionalized.

The emotional roller coaster ride between the economy is near the end of the world to the recession is almost over is draining.

The reality is the economy does not change that much in 24hours. But the news sure makes it feel like there’s a lot more chaos than really exists.

When you add the news to the actual issues you face in your business, the combined effect can often be exhausting.

Here are three tips to beat what I call recession combat fatigue.

1) Stop watching the news!  The news is not all that relevant to your business. The economy could very well recover from an economists point of view, but your business could still suffer.

2) Get your pulse on what customers are thinking. The news isn’t all that relevant, but what is relevant is paying attention to the customers in your market.

What do they care about today, that they didn’t care about a few years ago? What are they still buying and why? Who is still buying and why?

What you thought you knew about your market may have changed. Get the latest info.

Accurate facts are incredibly calming in a crisis. At least you know what you’re up against.

It’s much harder to drive on a bumpy dirt road blindfolded than with both eyes open seeing clearly. The bumps are the same, butone experience is terrifying while the other is merely a little annoying.

3) Don’t dwell on the problems in your business, focus on the finding and then executing the solution. Progress also calms the nerves.

When you’re too busy fixing your problems, you have no time to worry about them. Sit on you hands and worry creeps in.

Those are my tips for the day.

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