The other day we came upon an article on how recessions are actually good for us;most reactions would be to dismiss it until reading further. It turns out that without putting too much of a positive spin on what has been the deepest recession that most of us have ever have lived through, or want to go through again, the statement could have some merit if viewed from a different perspective.


Recessions make you Think Strategically and Sharpen your Decision-Making Skills

When things are going well, companies are busier doing than thinking. When things aren't so good, you have no choice but to sit down, think, plan, re-create, revise and vet ideas properly before committing. You're forced to note the difference between wants and needs and to consider your values and goals.

Recessions Force us to Monitor Cash-Flow like a Pro

You focus on generating rock-solid returns. You guarantee that every expense adds value, allocate cash more prudently, identify necessary expenses from unnecessary ones and ensure you're actually generating cash.

Recessions Inspire Innovation and Demand Change

No more slinking comfortably into what's familiar. Recessions disrupt the status quo, make you think laterally, peak creatively and work smarter. New and effective ideas come up out of the woodwork. This ensures more productivity and breakthroughs.

Recessions make you Committed and United at Work

Everyone is working harder to ensure they stay on top of things - whether it's keeping your business or your job. Hard times build strong lasting relationships with staff and co-workers. Employee turnover is lower.

Recessions Foster Strong Friendships, Families and Communities

You get an opportunity to support, be supported and build trust and confidence. People are spending more time with their families, friends and within the community.

It gives you the Opportunity to Secure a Competitive Advantage

Companies that started just before the recession have time to hone products and services before competitors appear. Others might consider starting a business now. Employees, on the other hand can become indispensable at work - your boss will be keen to offer more value to clients so ask if you can take on new and different work - you'll enhance your value, secure your job and may be up for a promotion when the recession is over.

Everyone's living Healthier and Greener

Companies are investing in energy efficient products. People are cooking at home more, reducing unnecessary power consumption, riding bikes instead of driving cars, recycling things and fixing things.

It makes you Tough

This is the stuff that creates the renowned 'Experienced, Wise and Weathered' top-dogs! It tests and forms your character and willpower and hopefully you'll end up stronger than when you started.

Recessions make us Smart

Learning new skills help us with new employment opportunities should redundancy become a reality. Additionally, adding new skills can help career growth within your current role and hopefully improve chances of a pay increase when business improves.
Source: www.euraaudituk.com