Embracing the Recession
HEATHER VILLA, CMA, MBA, MSM
IAC Professionals

We live in uncertain economic times. Every time we turn on the
news we hear of another company that is going under or another
company that is laying off thousands of its workforce or another
company that has had to respond to a lack of shareholder
confidence with kneejerk reactions. People just don’t want to
watch the news anymore!

Millions of people have watched their investment portfolios and
job security vanish before their very eyes. Chances are, you’re
among them.

The news is depressing, and it is challenging to suddenly lack
confidence in your ability to retire at 65. So what is your
response going to be? Most of the people who watched their
portfolios and job security disappear are going to take the wrong
action: they are going to do nothing and hope that they come out
on the other side of this dark economic tunnel unscathed.

My advice to you? Don’t join them! Don’t run on autopilot for the
next months or years and “hope for the best”. Instead, embrace
the recession.

Yes, you read that correctly: embrace the recession. Consider the
recession your opportunity to start a business and redefine your
economic future. Now, some people might think that a recession is
a bad time to start a business, but I think it’s the perfect
time. Here’s why:

1. People still buy things in a recession. The key is to offer a
product or service that is still purchased in spite of the
economic downturn.

2. Other businesses, which were operating before the recession,
are facing the economic challenges of staying afloat because
their business model is designed to profit in a strong economy.
You, however, are coming in lean and mean because your business
model recognizes the recession and allows for it.

3. Working from home can be cheaper than going to work. With gas
prices and food prices spiking to all-time-high levels, it might
actually cost less to stay home and work there. Cut back on those
restaurant lunches, fill the tank much less frequently. Oh, and
don’t forget that some of your home ownership expenses will now
become tax deductible.

4. As a self-employed business-owner, you’ll have greater career
confidence because you will be deciding the future of your job,
not someone who is higher up in the organization. What’s more,
with every sale you make, you’ll be building your own job
security and hastening your retirement (rather than lining
someone else’s pockets without any assurance that you’ll have a
job tomorrow).

There are other benefits, too: You’ll reduce the stress you might
feel in commuting through rush hour traffic at the beginning and
end of the day, and you’ll also be doing some good for the
environment!

So, that leads to the next question: How should you embrace the
recession?

My first piece of advice would be to find your passion. What do
you love to do? I love to work with other people and help them
guide and manage their business. I do this through consulting,
project management, and accounting services.

Next, see what the market needs. By performing a marketplace
analysis, you’ll have a clear idea of what people are buying
during these tough economic times. That will allow you to shape
your products or services to suit them.

When you find something that you enjoy doing and that other
people need, you’ve got a great match! You probably need to
develop the product or service so that it is a profitable
offering. You likely need to create a website and other marketing
material so people can find you and transact business.

And then you start selling.

This list looks simple, but it’s a lot of work. Don’t feel like
you need to do it all yourself. You’ll actually come out ahead if
you do the work you can do well and you outsource the rest to
skilled, competent service providers who are experts in these
areas.

Don’t wait for your portfolio to disappear. Don’t wait for the
pink slip to show up on your desk. Take charge today and embrace
the recession!


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Heather Villa’s professional philosophy is that her role in the
success of others will ultimately bring about her own success.
Whether she is working from an advanced accounting or challenging
marketing angle, offering guidance in development, organization,
supervision, or administration, Heather makes sure that her
clients get accurate answers from a professional that they
can depend on. As CEO of IAC Professionals
(http://www.iacprofessionals.com), Heather instituted a company-
wide philosophy of professional and personal integrity, and IAC
soared. Would you like to find out how Heather Villa can help
drive your business toward greater success?
http://www.hireheathervilla.com