"A recession is a terrible thing to waste so make the most of it", is what I say. No one in their right mind would ask for this severe of an economic contraction as they prove so painful and inflict so much financial damage (as already has been proven). While no one would ever wish this, even on his best competitor, the reality is there are many benefits and opportunities created by them:
1) Competitors so involved in the problems they can't see a solution if it walked in and laid down.
2) Competitors try to advance by retreating- (brilliant logic).
3) The playing field is evened out so "deep pockets" down the street can no longer afford to just out spend you.
4) Lowest price sellers that depended on volume won't make it because they don't know how to hold gross necessary to make up for the loss in volume.
5) Anyone that hasn't been working on the basics of real salesmanship, genuine customer satisfaction (not the kind you buy) and training and motivation of staff will not make it through two quarters without blowing through their entire sales and management team.
That is why I say, "a recession is a terrible thing to waste" as it creates many opportunities. As I am sure all of you have experienced in your own life there is always something that comes out of even the most trying and difficult challenges in life. And there will be great things created out of this time for those that are able to adapt and make the adjustments necessary to the changing marketplace. And clearly this is a "game changer" with some people having to start over from scratch! Those that have good work ethic, endurance and can maintain the positive attitude of "make the most of it" will survive, come out stronger and seize market share.
Pass on the good news, "a recession is a terrible thing to waste- so make the most of it!"
, just remember where you heard it first. I know one of my competitors, not the quality guy but the other one, will be using this as soon as he hears it. Oh well even that is good because it forces me to just keep creating and producing new products, services and solutions to separate myself from the pretenders.
Grant Cardone, Author of Sell to Survive
and The Closer's Survival Guide