Negotiating the Recession
We’re all doomed! Such is the media’s current bell-tolling lament. Redundancies, property crashes, bank collapses. And the purchasing power of your pound squeezed like a proverbial lemon in your pocket.
But let’s leave the fiscal fiascos aside and consider how you can avoid falling victim and rise to the challenges, become ever more resourceful and find unexpected opportunities. Maintaining a positive mental outlook is crucial, so banish those negative, fearful thoughts as soon as they arrive. Literally feel the fear and do it anyway! If you wait till your anxiety disappears before you do something new, you’ll never move forward. The current global crisis can actually provide unexpected opportunities. Here’s how:
Finances: Research your quotes for electricity, gas, insurance, mobile, cable, etc. Companies are desperate to keep customers, so they’re offering great deals right now. Manage your debt. Cut up your credit cards, or decide to pay them off every month. Recessions are great for investors as stocks on quality companies also lose value. They can then be bought at a good price, with excellent long-term prospects. Interests rates are currently at an all-time low. So if you’re not locked in to lengthy fixed repayments, change your mortgage to a base rate or tracker.
Career: Practise a positive mental outlook. Redundancy can give you the perfect kick start to move into a career or business you’ve always dreamed about, but haven’t dared consider – till now. Make a list of your goals and options. And take small steps each week towards achieving them. Smarten up your cv and put it out there. Lots of people are too scared to change jobs right now, so competition for new positions has actually reduced.
Personally: Practise a positive mental outlook. If you succumb to fear’s stranglehold and consequent inertia, you’re an instant loser. Think like a winner. Pick someone you personally admire and model their behaviour. This is your chance to be adaptive, creative and try something or someone(!) new. Seize your day, focus on the present and stop procrastinating. Recessions can be a fertile time for professional and personal growth. You’ll discover your strengths – and make use of them.
Business: Practise a positive mental outlook. To survive in this climate, your business must be increasingly creative. You’ll need to look for new markets, and exploit existing ones. And refine your products and business strategies. Competition is reduced as competitors go bust. If you run a small business, it’s prudent to delay larger expenditures. But as with every recession, businesses will continue to do business. And consumers will continue to flex their plastic. Focus on issues you can personally control.
In essence, the recession can be tough for some, but it’s also a massive opportunity for positive change. Respond to the collective fear and anxiety by expanding. Take small, regular steps outside your comfort zone to increase your self-confidence and self-awareness. Make the positive decision to motivate yourself into realising your dreams.
Life coaching helps you rise to the challenges. You’ll discover your strengths and use them to propel your life forward. Personally and professionally you’ll become more creative, more fulfilled and more successful.