This opinion column was written by Shannon Tatana and originally published on The Click Facebook page. It is republished here with permission.
Happy new year everyone one!
Changing the Narrative: Choosing Accession Over Recession
*Disclaimer – I am no economist, just a simple person with a simple idea. This is not financial advice.*
We all have heard the doom and gloom of a “pending recession”, and many people don’t know what it is, yet they fear it.
Why?
During a recession, spending slows down, and so does the economy. Due to this, companies may have to lay people off and cut budgets.
But what happens if we flip this on its head?
Have you heard the story of the chicken who believed the sky would fall?
The moral of this story is to not go along with others just because someone says something is true.
Sharn our CEO says “As a business owner, I like to pave my own path. I believe that recessions offer opportunities for change”.
When you have a solid business plan in place that encompasses a slow market, then the future becomes less scary and, instead, full of possibilities.
Rather than letting the markets be driven by emotion, what would happen if we started to react differently?
Instead of using the word recession, what would happen if we changed this to a different term? Perhaps “Accession.”
Accession
noun
- The attainment or acquisition of a position of power.
How would you make decisions in an accession?
Many marketing companies will tell businesses that they should spend more money on marketing to survive a recession. There is plenty of research to support this.
But to be blunt, what people sell doesn’t matter. To survive a recession, people need to sell more of their products/services.
How can positive sentiment help?
Economic performance and sentiment are directly related, but ultimately, history has shown that it will be a sentiment that powers us out of a recession.
First written by John Maynard Keynes, it has been widely recognised that economic performance and sentiment are directly related – whether amongst consumers or businesses. Without positive sentiment, economies stagnate.
We don’t look at our business from a “we must survive” mindset. Instead, we look for opportunities, we double-check the ROI on investments, and we ensure that we keep moving forward instead of blindly following what others are doing. Rather than being anxious about what the next 12 months may bring, we face them with excitement and determination.
By Shannon Tatana, Creative & Marketing Manager, Attain
New Zealand | USA | Australia
