There is a Recession Going on, But I have Decided Not to Participate!

For the last six months I have been reading about the recession and how it is affecting businesses of all sizes.  And despite what I have read, I have decided to not to participate.  It doesn’t really sound like all that much fun.

And based on a report from the Harvard Business Review, I may be in very good company.   Author Greg Vanourek writes:

During our interviews with 55 successful business and social entrepreneurs worldwide, we were struck by the fact that many had started their enterprises during a recession or in the wake of one. …

Many people assume that entrepreneurs are allergic to recessions. It turns out that downturns can be times of tremendous opportunity–and, yes, profit–for entrepreneurs. But only if they play their cards right.

So what does playing your cards right entail?   For me, it is about ramping up marketing activites – more pr, more blogging, more visiblity at local networking events.  We even added a little direct mail to the mix.   And the result …

Sales are good, we are about to close our biggest deal, and possibly hire another person later this fall.  Yes our costs are higher, but so are our sales.   We expet t out last this recession, and we will be ready when the economy turns around.  How about you?

Do You Have Mavens, Salesmen and Connectors in your Business Circle

Picked up a copy of the Tipping Point by Malcom Gladwell recently.  I have read it before, but was flipping through again, and am always fascinated by his ideas on how to create a social epidemic. It begins with three types of people: Connectors, Mavens and Salesmen. Ultimately you need to have the support of these three groups of people to bring your ideas to the market place.

Also, think about the strengths your bring to the table.  Are you a:

• Maven – with a specific area of subject matter expertise
• Salesman – with the ability to spread ideas to others
• Connector – with a broad network of contacts through which you share new ideas

Seek others who fill the gaps in your skill set to complete your circle and create a “Tipping Point” for your business.

Where do you meet them?? Start networking; Rainmakers, the Chambers, Network of Women in Business can be a starting point for your own social epidemic.

For the opposite perspective:  Not everyone loves the Tipping Point – Olive Thompson in this article for FastCompany Magazine pours a bit of water on Gladwell’s ideas.