In 2017, global economic growth reached 3 per cent, the highest growth rate since 2011. It is expected to remain steady during 2018, according to the United Nations’ Situation Prospect. The improved global economic situation provides opportunities for long-term goals. Or are you still in your short term modus?
Short-term perspectives are usually thriving in times of recession. In times we fear to lose. When things are going down, our ability to see through diminishes. We are impulsively ‘saving what we can’. When there’s a flood coming, people focus on their own houses. First things first, right.
Fear makes us think smaller
So when your company is in bad weather, there’s probably a smaller vision in full force. Fear leads and takes us back to our basic needs. We have to earn first, to fulfill those other prosperous needs.
Have you ever watched the fearless ones invest during rough times? I did. And I do myself.
Are you crazy? Yep.
When everyone’s out there saving its fearsome ass, the coast is clear for some pretty awesome investments. You buy that production facility cheap, you sign that great team member for a very reasonable salary. You also have a great platform for advertisements, product development and more. Probably some subsidies come across, since countries are trying to counteract the economic cycle. It’s all about supply and demand.
I know what you’re thinking: easy talking, when there’s a financial buffer. What if I am without any?
That’s exactly what’s investment is about. When you are always living it up, spending ALL you have on a monthly base, you are not investing 24/7. Who’s easy talking right now?
Investment originates in the basic needs
When you non-stop act and live according to the basic needs, you will save in the prosperous times. That’s already the point where you start calling a recession an opportunity.
Taking this into your company, there's only one important question you can ask yourself on a daily basis.
What long-term goal am I investing in right now?
Make sure you invest on a daily basis. If you focus every single dollar out there on the basic needs for your company in good AND in bad times, you might miss some dollars on your reputation expenses.
But who needs a reputation that cannot be held continuously? And what’s the legacy you want to leave for the world, anyways?