A convergence of
forecast a looming economic downturn. Many believe it’s certain that a recession is pending.
Proactive business leaders aren’t worried. They see any economic change as a springboard for profitable growth and competitive advantage. Rather than spreading a message of caution, worry or gloom, they’re sending a more strategic message: “We will not decline when the economy falters. We will instead show the market what we’re made of.”
The strategic leader knows the importance of stepping out of the busyness of business despite the temptation to go faster in times of economic uncertainty. But speeding up only adds pressure and overwhelms the workforce. Stretching employees to the limit by having them put in longer hours, sell more, and get faster results only leads to burnout and neglects the longer view. By attending to the here-and-now and neglecting the longer view or bigger picture, organizational leaders and their teams may do well enough for a while. But they’re unlikely to thrive over time.
Slowing down and pausing can feel implausible and impractical in the midst of an economic free-fall. But by taking the time to develop a more thoughtful path forward, you will be ensuring your success in any economic climate.
Read the full article and
discover the six factors to assess
that can lead to accelerated growth and a recession-proof business in my
article for Leadership Now.