As we pass the five-year anniversary of the start of the economic recession in December 2007, many observers focus on what was lost:
But the businesses that survived the Great Recession and are thriving today didn't focus on losses then - and they aren't now, says Donna Every, a financial expert who has published three non-fiction business books and recently released her first novel, The Merger Mogul, (www.donnaevery.com).
"The entrepreneurs who are successful during times of uncertainty are so because they don't rely on the standard approaches they'd use in predictable times, and they look for opportunities - the positives - in situations that would have been considered negatives five years ago," says Every.
"It's similar to how we deal with the weather. In places where it's sunny most of the summer, we wouldn't leave our house each morning packing coats and umbrellas just in case. The weather's predictable. But in the winter and other seasons when the weather can quickly change, we head out with a different mindset."
For businesses, switching gears to deal with inclement economic conditions involves adopting new perspectives and practices, she says.
"I incorporated some of these in The Merger Mogul because it's set during the recession and my protagonist, the mogul, had to adapt," says Every. "He used many of the strategies I teach my business clients for thriving during economic uncertainty."
What are some of those strategies? Every outlines them:
"If you've survived the past five years, you've probably been relying on many of these strategies - maybe without even realizing it," she says. "Don't abandon them yet, and if there are some here you aren't using, work toward incorporating them, too."
Donna Every is director of Arise Consulting Inc., a company that offers business training, and consulting services. She is a Chartered Certified Accountant with a master's in business administration. She is the author of What Do You Have in Your House?; The Promise Keeper; Arise & Shine; and her first novel, The Merger Mogul.
The only publication dedicated exclusively to the hottest topic in franchising - Multi-Unit and Multi-Brand Franchisees.
A unique event because it is highly influenced by its advisory board, consisting of the very best multi-unit franchisees. The board works diligently to ensure that the conference delivers on its promise of being the best platform for franchisees to learn how to grow their businesses.