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Patience Not Panic: Survive and Thrive Through Economic Turbulence

Written by: Eileen McDargh

Article Overview: We've been through an economic roller coaster over the past few years. Let Eileen help you survive and thrive by applying a bit of patience and logic to this ever changing situation.

Patience Not Panic: Survive and Thrive Through Economic Turbulence

From 28,000 feet, snow still s

pots parts of Michigan, Illinois and other states further West. The earth looks brown and barren, dark and ugly from this vantage point. But I know that if I could walk the fields and wait patiently, I'd see signs of new growth inching out of hardened earth. I'd eventually find dead-looking tree limbs swelling with rising sap, pushing buds into blossom under the warming sun.
But what if I opted NOT to be patient?

What if I panicked, burned the dead-looking trees, cut off limbs, and retreated in disgust within my cocoon? Spring might NEVER come because my shortsighted actions jeopardized the natural course of events.
That's what has happened with the stock market and many of our companies. It concerns me that such actions can create a rippling self-fulfilling prophecy.

I'm concerned that departed talent and trust might not be regained within the workplace. I'm concerned that customers will retreat because quality and service could suffer as employees attempt to fill the shoes of a thinned out workforce. Here's a hard pill to swallow but perhaps all of us—myself included-have become greedy for the amazing returns and astounding growth of the past eight years.

Perhaps we've grown fat and lazy instead of prudent and thoughtful.
I think now is the time to focus on what's important. For our families and our businesses to thrive, we need to ask ourselves what endures for the long haul and not the short gain.

Innovation, engaged and talent-focused employees, customer-focused products and services and a deeply shared commitment to find ways for meaningful contribution carry the day.
By historical standards, we've been through far more dramatic financial times.

Once the U.S. had 20,000 phone companies and 2000 auto companies. General Motors was once a tech stock. As we say in the coaching world, "from breakdown comes build up."
I fully intend to be the voice of reasonable optimism. Now-more than ever-we need to meet, to talk, to vocalize our concerns and legitimize our fears so we can figure out a passage through this blip in business history.

Philosopher Howard Zinn said that to have hope one does not need certainty, only possibility.
Let us figure out together how to be the bearers of hope.


© Eileen McDargh, McDargh Communications. All rights reserved. You may reprint this article so it remains intact with the byline and if all links are made live.

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Article Tags: economy, optimism, patience, recession



Related Forum Posts
Lie about your fears - While I don't think it's ever ok to lie to a business partner or investor, I think EVERYONE is guilty at one time or another of primarily focusing on their success and business' strengths, while leveraging their weaknesses (e.g. If you have a small forum membership base, you might sell the fact that a smaller membership translates into better and more intimate discussions. In large online communities, many opinions can be lost in the masses). And whether you're working with a business partner or with other students on a school project, it never does the "partnership/team" any good if you show signs of fear. So I think it's ok to put up a brave face and maintain your composure at all times (even if you're feeling afraid and unsure about what you're doing) just to progress forward. Panic can lead to inaction and business failure, so I don't see the benefit of being honest about your insecurities. In fact, I believe the ship will sink even faster if both business partners are telling one another how scared they are of running their business. Am I wrong?


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