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A RECESSION IS A TERRIBLE THING TO WASTE
By Tom Reilly, author of How To Sell and Manage in Tough Times and Tough Markets

I’m paraphrasing.

 What do Jim Collins, Thomas L. Friedman and Jack Welch all have in common? They have all variously quoted Paul Romer, Stanford economist. Romer’s point? In crisis, there is opportunity.

 There is opportunity right this minute for those willing to pursue it. What is the first question that goes through your mind when you wake up in the morning: How am I going to get through this day? Or, how can I use these tough times to press our competitive advantage and gain traction in the market?

 If you’re playing only defense right now, you’re missing one huge advantage—maybe a once-in-a-lifetime opportunity. You must go on the offense. Stop complaining about how tough things are and be grateful for the opportunity to make something happen. Attack weak competitors. Take their market share. Help customers find ways to cut loose funds for projects that are gathering dust on the shelves. Start the process for new projects so that once the economy turns you will be first in line. Find ways to become more operationally efficient and share the savings with your customers. Make something happen, now!

 The media is full of examples of how people are hoarding cash and holding back on purchases. This tells me there IS money available. Your job is to prove to customers how your solution is a better investment than a no-interest, low-interest bank account. You don’t want to find yourself saying a year from now: This past recession was a terrible thing to waste.

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