How to Be Recession Resistant: Five Strategies

Earlier I posted on the idea that nothing is "recession proof", as much as popular media and many "experts" want to peddle their recession-proofing wares to us.

Reality check....the best we can do is build up our resistance to recession and the other ups and downs of business. This blog is the first in a series of articles with pointers on how to be recession resistant, as an employee, manager, salesperson or business.

Below are five strategies for surviving during tough times and always landing on your feet. I'll cover each in more detail in follow-up posts.

1. Pull Your Head out of the Sand

Stay alert for predictable surprises. Harvard Professor Max Bazerman says that "Predictable surprises happen when leaders had all the data and insight they needed to recognize the potential, even the inevitability, of major problems, but failed to respond with effective preventative action."

2. Live with Healthy Fear

Paralyzing fear is bad. Fear that propels you to take action is healthy!

3. Don't Assume You're Still Valuable

What made you successful in good times may not be what matters in bad times. Question what is really important to your business and your bosses when recession looms...and find ways to fill that need.

4. Keep Your Pipeline Full

If you only network and ask for referrals when times are bad (and you're looking for opportunities)...it's probably too late.

5. Become Your Own PR Person

Whether you know it or not, we're all in the public relations business. Be your own advocate and build your brand year-round.

Tune in for more postings describing how to execute each of these survival strategies.

Copyright 2008. Phyllis Roteman. The Loyalty Group. Sherman Oaks, CA.

No Such Thing as Recession-Proof

"I've got a risk-proof way to make a million dollars!"

"This plan to invade Iraq is fool-proof!"

"This new firewall is 100% hacker-proof!"

I'm always leary when I hear that anything is "proofed". The phrase implies that there's a 100% guaranteed way to prevent something from happening. I can't think of anything in life, or business especially, that's foolproof or completely without risk.

This morning at the gym I was watching CNN and saw an advertised segment on "Recession Proofing your Job." Jumping on the "Big R" scare, other media outlets and and business consultants have written articles claiming to have the secret to recession-proofing your business, finances or job.

Any business or employee who is fool-hardy enough to think that they're immuned from the impact of recession is tempting fate. It's like saying that driving the speed limit, being cautious, wearing your seatbelt and having airbags makes you accident-proof. It doesn't. What it does do is give you some control over your fate by protecting yourself.

In my next blog post, I'll give tips for how to become more valuable to your employer, so you are recession-resistant. This means that even if your job is downsized, outsourced or cut back during a recession, you'll be able to bounce back quickly.

Recession resistance means doing things that make you valuable - in any job, in any economy.

Copyright 2008. Phyllis Roteman. The Loyalty Group. Sherman Oaks, CA.