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The Perfect Time: Coaching During An Economic Downturn
-By Angel True
Most of us aren't really old enough to remember the beginning of the Great Depression but we can certainly take the lessons learned from this period and apply them to economics, finances and, yes, even personal growth. Surprisingly, most businesses and individuals still don't really understand this basic philosophy, and most certainly our government often doesn't get it either - though a select few do.
Here is the simple and basic principle we can learn from the Great Depression and the leadership of President Franklin Delano Roosevelt: Save during boom, spend during bust.
What that means, put simply enough, is that when things are going well be conservative, keep to a plan, and save whatever you can and when things get difficult tap into that nest egg, take some calculated risks, and accelerate yourself out of the slump. It's a basic and accepted economic principle that, unfortunately, most American's in modern society just don't get. More common practice in our debt-driven business mentality is "cut back when it's tight and borrow when you've got money to make." If you're lucky enough, that second philosophy will see you through but it's not the best policy according to most economists usually leads to an acceleration of the decline.
But that's economics and we're talking about personal and professional growth!
During an economic downturn people start to lose their jobs as businesses cut back (contrary to this lesson). When that happens the two most common courses of action, other than collect unemployment and look for a new job, are to 1) go back to school, and 2) start a new business. Now whether you still have a job, you're looking for a new one, you're in school or about to go back to school, are starting a new business or already own one, or you're just ready to make big changes in your life - it's time to apply the lessons of FDR.
The most successful businesses and individuals use this opportunity to fundamentally remake their image and products, improve skill sets, revise personal roadmaps, improve their core competencies and find new abilities. Why do they do this? Because everyone else is staying stationary or moving backwards and accelerating instead will only give them a wider advantage.
Personal and professional coaching is about creating advantage in your life. Whether it's about doing better in your current job so you are more valuable, reassessing where your professional priorities and direction are, advancing your self-growth regimen, improving your relationships, developing new projects or businesses to implement, or just clarifying and focusing your critical life priorities - all of these are about creating advantage.
You can use this advantage to help yourself, help your family, help your company, or even to help your community. The more you are able to help yourself and others the more effective and supportive you become. As you spend this improvement outwards in your life you bring greater revitalization to everything you are involved in whether it's work or every aspect of your personal life.
Now this is generally a good idea during every period of the economic cycle - but during a downturn it can mean the difference between falling behind, and catapulting ahead in your life! So where would you rather be - waiting to pull the lever of, or the flaming ball sitting in the launching pad of the catapult?