How to thrive in a Recession

Nothing fires the desire to win like a worthy competitor. Competition can either destroy you or open the door to extraordinary achievement. Think of Recession or any challenging event as a “competitor,” and your attitude toward thriving in any situation will change.

I recently read how a privately held weather company was lobbying to block taxpayers from seeing National Weather Service forecasts and data.. Entrenched corporations naturally want to limit incursions into their market space. If the goose is laying golden eggs why mess with the formula?

The worst thing anyone can do is try to hang on to the present.

Smart devices, user generated content, and community portals that impact the course of history were the stuff science fiction a decade ago. Innovation is the unpredictable wildcard. And those who question paradigms ultimately end up winning.

For many years, my beloved radio industry mined an attitude of arrogance and complacency, refusing to believe new technologies might shake the very foundations of their business model. Today, we all listen to music on Spotify and Amazon. kids prefer streaming audio to broadcast radio and vehicle manufacturers are beginning to whisper an over-the-air receiver is not a guaranteed add-on to the vehicle of the future.

Competition is often thought of as a negative force, something that pits people against each other and creates an environment of winner and losers. But competition can also be a positive force, one that drives people to improve their skills and sharpen their desire to succeed

It’s all in the attitude.

In the world of business, competition is essential for driving innovation and growth. Like recessions, competition naturally emerges on a predictable cycle. Companies who are able to thrive in a competitive environment are constantly looking for ways to improve their products and services. Best in class organizations study their competitors closely, looking for any advantage they can find. And they invest heavily in research and development, always searching for the next big thing.

When we compete for tomorrow’s jobs, we push ourselves harder and to strive for a new level excellence. Competitiveness ups our game and fuels creative thinking essential to adding value in an evolving marketplace.

Competition and Recession can be interchangeable words. They have vastly different meanings, until you study them closely.

Change the word Competition to Recession and the laws of abundance become even more clear. Those who are driven to be better, to never settle for mediocrity develop an ability to discover the opportunity inherent in the toughest times. Embracing competition and using it to your advantage might be the best thing you ever do.