It’s true, there are some business leaders out there that that love it when a recession comes to town.
So while the rest of us shiver at the thought of tough times ahead, brought about by the economy and factors out of our control, why is it that this small group of people seem to get so excited and look forward to benefiting from others misfortune?
The answers lay mostly in a combination of attitude and understanding of what is happening within the business economy and then looking to take advantage of that knowledge. Firstly, recessions are cyclical, so we can anticipate and plan for them in advance. The impact on many areas of business, in real terms, is actually minimal and so there is still a good deal of business out there to win, even though the general feeling is of doom and gloom, much of which is purported and hyped up by the press. That is not to say, that there aren’t unfair victims of any recession, but is a generalisation and optimistic view taken by the group of people we are discussing.
Consider just 2 factors:
A 5 – 10% reduction in business within a sector can often result in as much as a 40 % reduction in marketing activity within that same sector, as companies tighten up and buckle down. In tandem, advertising costs often come down as marketers try to buy in business.
Also, as companies look to reduce internal costs, they often look to outsource services, causing significant growth in other areas.
These are just 2 areas that are identified within a new book called Lessons Learned From the Recession, the first in a series of unique books, that reviews the personal experiences of highly successful business leaders from around the world. The book series is called The Business Leaders Book Club and was the brainchild of Mark Stephens, the founder of the social media site Ask the Experts, The eBook Library and Smart Recruit Online, himself an entrepreneur.
Stephens says that he wanted to gather together the real life stories of what the successful business leaders were doing, not just to counter the recession, but across a whole range of business related subjects, which he plans to explore in future books in the series. “ I love reading books that inspire me to take action and I knew that this concept would do just that. Our whole team was totally inspired when reading the contributions to this book as they came in and we were all taken back by the collective positivity amongst these unique group of individuals”, he told us.
All the books in this series, he tells us, will be free to download, making the valuable and motivational content available to anyone, that wishes to access it.
Amongst the books growing band of admirers were James Caan, of Dragons den fame and Steve Farber, author of the best selling book, The Radical Leap.
Caan said “This book provides valuable advice from business owners who have been on the front line and know the challenges of starting or running a business.” And this was backed up by Farber’s observations, “The Business Leader’s Book Club offers something that most so-called business books don’t: real lessons, from real executives, facing real challenges in this tumultuous age. This series is your chance to sit down with and learn from some of the sharpest practitioners in business today. You really don’t want to miss it”.
Lessons Learned From the Recession, is free to download now at Ask the experts eBook library and is also available in Paperback at half price by entering the code BLC1000 (RRP £12.99)
To find out more about The Business Leaders Book Club project visit www.thebusinessleadersbookclub.com
Article originally posted in The Business Growth Mastery Blog and can be found here.