If You're Not First, You're Last — CHAPTER 1 - Four Responses to Economic Contractions

CHAPTER 1

Four Responses to Economic Contractions

There are basically four responses people have during economic contractions —and only one that counts.

1. The Cheerleader Response: “I refuse to participate!”

2. The Old-School Response: “Nothing really has changed; let’s just get back to the basics.”

3. The Quitter Response: “There is nothing I can do, I just have to wait it out.”

4. Advance and Conquer: “Every resource you have goes to advance and conquer while others contract and retreat.”

Let me explain, as you move through each of the stages of recovery and as you build or rebuild your business, you will make choices in how you respond. Your response to the economic contraction will be a result of your beliefs and the influences of your environment. You have heard and/ or witnessed each of the four responses by your employers. Let’s look at all four and examine the ones that work and any untruths that may be holding you back.