Taking charge of your own economy

In order for you to take charge of your own economy you first need to get a better understanding of the economic cycles. It is a fact that not all businesses suffer at the bottom of an economic cycle. There are quite a number of businesses that are doing well at the moment (bottom of the economic cycle). Many businesses don't do that well at the top, and that is why there are bankruptcy at the top of an economic cycle. Despite the macro economic conditions that influence the majority of people and organisations, there is also the micro economic cycles or internal market environment that plays it own part and sets the stage. If you are at the top of your own economy (micro environment or internal market environment) you should seriously reconsider before you increase spending or hire new people.
If you are at the bottom of your own economic cycle and everyone around you is showing a great amount of pessimism, you should not be hopeless. The wheel keeps turning and you might soon be going up again.

Take charge - be better than average

If you make a list of all the concerns during a down economy you will find that there is very little (mostly nothing) you can do to change the way things are going at the moment.
You will find stats and indicators everywhere. Thousands of graphs are published everyday that gives an indication of the market averages. Trends that give indications about the general health of your economy or industry. The key words are AVERAGE and TRENDS. When an average is calculated both low and high figures are considered. The average is needed to get an indication of the trend. The fact is that some people are performing above average, while others might be well below average. The key to success is to make sure that you are performing above average.

Don't focus on things you can't change

If you spent less time and energy talking about circumstances beyond any control you will find that there are better uses for your time:

• Stay informed about the global economy, and keep track of things by creating a few charts about the economic trends that affects you or your business.
  


• Keep track off things going on in your industry. Keep a file with information about the "signs of the times". It is always a brilliant idea to know where you are at any given time.
  


• Get into the habit of rating the morale of yourself, your industry, your customers and your business. If you are focused on your surroundings you are also more likely to find more opportunities.
  


• Difficult times and misfortune presents opportunities to find solutions. I do not suggest that you go out an feed on the misfortune of others, but if you are able to find a solution to a public issue everyone will benefit.
  


• Competition is competition. Business should sometimes be visualised as a battleground. I often refer to the SME-graveyard where many brave businessmen and woman put it all to rest. I don't wish my competitors any bad luck, but there were times when it empowered me to see or visualise how they are immobilised and down. Get your team together from time to time and give then a glimpse off the market, how their competitors might be struggling to stay floating, and encourage them to take up arms and return to the battlefield.
  


• Start to look at change differently. There are quite a number of posts in my blog regarding change. I recommend that you take a look at it. Change is something you can't avoid during economic ups and downs. Change is a requirement and it will help you substantially if you can develop a positive attitude towards change.
  

Take a long hard look at how you can maximise your opportunities at all times. Identify those things that are most important to you right now, and what you need to do to obtain it. Don't struggle through down times alone. There is a very good possibility that someone else has been through similar circumstance before you. Ask for advice and use your common sense. There are so many negative circumstances that need a positive solution. Make it your quest to make things easier and finding solutions. Don't add to the growing pile of problems and expect other people to solve the problems. Take charge.