Think Big During Difficult Economic Times

April 13, 2009

The Empire State Building in New York City stands as one of the Seven Wonders of the Modern World.  At the time of its construction, the Empire State Building became the world’s tallest office building at 1,250 feet, and held that record for 41 years!

The Empire State Building was the first building to have over 100 floors, representing the birth of modern skyscraper technology.  Even more impressive, the building’s construction took place in record time – less than 14 months (410 days).  It even came in at half the expected cost.

Watch some staggering old silent footage featuring the courageous workers who risked life and limb to complete the project.

Quite an impressive story.  But, perhaps the most inspiring fact is that the Empire State Building, in all its glory, was built during the Great Depression between 1930 and 1931.  That’s right, during some of the darkest days in economic history, the Empire State Building broke through, shining a new light on the possibilities for the future.

Just a piece of trivia?  Or is there something you can apply to your situation today?  One takeaway is that you can view these difficult economic times as offering an opportunity for those willing to take the risk.

Newton’s Third Law

In every downturn, there will be losers.  But, where there are losers, there have got to be winners.  (Remember Newton’s third law of physics:  For every action, there is an equal and opposite reaction.)

Our current economic recession is fraught with potential downsides.  And, there are factors outside of your control.  But, there are plenty of opportunities within your sphere of control.  The challenge is: What are you doing during this time to rise to the top?

1.     Are you refining and polishing your core competencies?  Are you getting better at what you do and staying one step ahead of the competition?

Or, are you doing the same thing over and over, the way you’ve always done it, hunkering down and waiting out the storm?

There will always be a need for what you do, but in tough times only the best will get to do it.  The bar is being raised.  Make sure you can still get over it.

2.    Are you expanding your competencies?  Are you looking for growth opportunities?  Do you see emerging areas of interest or need in the markets you serve that may be slightly outside of your expertise, but that still leverage your core competencies?  Are you making the effort and investment to acquire the necessary, additional skills?

Or, are you fearful of getting a little outside of your comfort zone and avoiding taking chances because it’s too risky right now and you’d rather stay below the radar?

Doing more with less is a reality.  Companies need fewer people and partners, and need those people and partners they keep around to know how to do more to help them win. Become their most valued partner.

3.    Are you un-learning and letting go of the anchors that may be weighing you down?  Can you get past your preferences toward what you think is right, when there is evidence piling up all around you that maybe there is a better way?  Are you aggressively examining your predilections and working hard to adapt, re-invent, and even create the next big thing?

Or, are you so set in your ways that you shut out new ideas and avoid potential innovations?  Are you content just repeating your favorite tactics, stories and approaches?

People and companies are looking for new ideas.  They want fresh insights.  They are scrambling to find something that works.  Add value every time you are at the table.

During the technology bubble in the late 1990s and early 2000s everyone was a great salesperson and world-class marketer.  At least it appeared that way because everyone was hitting their numbers.  Then, the bubble burst and reality set in.  Marketing and Sales professionals had to sharpen their skills.  Some didn’t make it.  The best still rose to the top.  What are you doing to make sure that’s you?