10 Benefits of a Recession

If you want more bad news, then don’t read this post. But if you are tired of reading about bailouts, bankruptcies, and poor earnings, keep reading.

behind every cloud the sun is shining

I’m no Pollyanna. I have blogged previously about embracing the most brutal facts of your current reality. I know people are suffering, and I hate that.

However, I also believe that every cloud has a silver lining. It’s just part of my worldview. So here are at least ten benefits of the current recession:

  1. It causes you to get more creative.
  2. It forces you to make the tough decisions.
  3. It thins out the competition.
  4. It makes you realize you can’t take anything for granted.
  5. It reminds you that real wealth isn’t about the stuff you own.
  6. It fosters out-of-the-box thinking.
  7. It makes it easier to abandon business-as-usual.
  8. It brings you back to the basics.
  9. It accelerates change.
  10. It causes you to be less wasteful.

While you may not be able to control what happens with the economy, you can control your own mental focus. Usually, this determines whether you feel anxiety and fear or peace and hope.

Question: What additional benefits do you see? You can leave a comment by clicking here.
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  • Becki

    Spend more time with family and friends – it’s free!

  • http://luke.gedeon.name/ Luke Gedeon

    Lower gas prices!!

  • awojtowski

    A recession causes reliance on others.
    It re-establishes the fact that we are all intertwined\
    It restores reliance on community for support
    It rebalances the scales

  • moe

    This is an example of what the bible refers to as the “ant principle. If we worked hard and right during the “great” days, we should have stored our goods for the winter (hard times). If we fail to plan, we plan to fail. I would think that every generation goes through a financial crisis. The key of living through this is planning and preparing for them.

    Maybe we can learn from this one and teach our children on how to prepare for the time when it happens to them.

  • http://www.thewritingroad.blogspot.com Scoti Springfield Domeij

    This recession is causing me to be more thankful for how God has provided over the years, many of them lean. It encourages me to share what I have with others. My friend, who was laid off resulting from the recession, received a job offer. When living on the edge, it is more exciting and encouraging to see how God provides.

  • Carrie

    We connect with each other more – less isolation, more reaching out.
    More opportunities to bless and be blessed when we relate to each other as real people, not the window dressing in each other’s lives.

  • http://thethriftylifestyle.blogspot.com/ Karin

    I agree about about the optimistic aspect of hard times. It causes us to buckle down and to re-evaluate what is really important.

  • http://www.michelereneau.com Michele Reneau

    Love the list! It’s time to get back to the basics of living below our means, saving money, and planning for rainy days.

  • Susan E

    Just this morning I was thinking how much I enjoyed NOT having to shred 6-7 credit card/personal loan offers every day. I consider that a bright side of the economic times. I expect all those trees do, as well.

  • http://www.billycoffey.blogspot.com Billy Coffey

    This recession reminds me of the winter storms we have in Virginia from time to time. When a storm is coming, everyone in town goes to the store for two things: bread and milk. Never mind that the store is stocked with every imaginable food and beverage. It’s always the basics. Always the bread and milk. And I think that’s because it’s the basics we find comfort in during the storms we face. The elementals. And in this economy, it’s the elementals, the getting of what we need rather than what we want, that will get us through.

  • http://www.WritingCareerCoach.com Tiffany Colter

    It seems that historically the people who accelerated are those who looked at what happened during times of an economic down turn and adjusted.

    There are many who will focus on the pain of the moment [which we all do to a certain extent] but others look at what is happening with falling prices as the “sale” on investments they couldn’t previously purchase. Then when the market completes the cycle and rebounds they sell at a considerable profit.

    Learn fiscal discipline and times of down turn become times of “planting” rather than times of panic.

    Love the silver linings.

  • http://wordvessel.blogspot.com Cathy Bryant

    Personally speaking, the recession has served as extra motivation for me to launch out and try things that I wouldn’t have otherwise tried. It has also helped me to work on staying on a budget and living beneath my means. There really is a silver lining to every cloud!

  • http://davidfoster.tv David Foster
  • http://luke.gedeon.name/ Luke Gedeon

    Lower gas prices!!

    • Allison

      On what planet? Gas in Chicago was $4.29 today.

  • Becki

    Spend more time with family and friends – it's free!

  • awojtowski

    A recession causes reliance on others.
    It re-establishes the fact that we are all intertwined
    It restores reliance on community for support
    It rebalances the scales

  • moe

    This is an example of what the bible refers to as the "ant principle. If we worked hard and right during the "great" days, we should have stored our goods for the winter (hard times). If we fail to plan, we plan to fail. I would think that every generation goes through a financial crisis. The key of living through this is planning and preparing for them.

    Maybe we can learn from this one and teach our children on how to prepare for the time when it happens to them.

  • http://www.thewritingroad.blogspot.com/ Scoti Springfield Do

    This recession is causing me to be more thankful for how God has provided over the years, many of them lean. It encourages me to share what I have with others. My friend, who was laid off resulting from the recession, received a job offer. When living on the edge, it is more exciting and encouraging to see how God provides.

  • Carrie

    We connect with each other more – less isolation, more reaching out.
    More opportunities to bless and be blessed when we relate to each other as real people, not the window dressing in each other's lives.

  • http://thethriftylifestyle.blogspot.com/ Karin

    I agree about about the optimistic aspect of hard times. It causes us to buckle down and to re-evaluate what is really important.

  • http://www.michelereneau.com/ Michele Reneau

    Love the list! It's time to get back to the basics of living below our means, saving money, and planning for rainy days.

  • Susan E

    Just this morning I was thinking how much I enjoyed NOT having to shred 6-7 credit card/personal loan offers every day. I consider that a bright side of the economic times. I expect all those trees do, as well.

  • http://www.terryburns.net Terry Burns

    Excellent comments. I always enjoy them. I had to work up a presentation for the Glorieta Writers Conference on Publishing and the economy. I’m giving it again at the Heart of America Conference in KC Friday. I talked to a lot of industry pros working it up and found their input a real slice of reality. I’ve posted those comments on my website (under articles) if anybody is interested. I’m an optimist and believe things are going to work out well, but only if we really understand the situation as it really is and work with that situation in mind. Keep up the excellent postings.

  • http://www.billycoffey.blogspot.com/ Billy Coffey

    This recession reminds me of the winter storms we have in Virginia from time to time. When a storm is coming, everyone in town goes to the store for two things: bread and milk. Never mind that the store is stocked with every imaginable food and beverage. It's always the basics. Always the bread and milk. And I think that's because it's the basics we find comfort in during the storms we face. The elementals. And in this economy, it's the elementals, the getting of what we need rather than what we want, that will get us through.

  • http://www.WritingCareerCoach.com/ Tiffany Colter

    It seems that historically the people who accelerated are those who looked at what happened during times of an economic down turn and adjusted.

    There are many who will focus on the pain of the moment [which we all do to a certain extent] but others look at what is happening with falling prices as the "sale" on investments they couldn't previously purchase. Then when the market completes the cycle and rebounds they sell at a considerable profit.

    Learn fiscal discipline and times of down turn become times of "planting" rather than times of panic.

    Love the silver linings.

  • http://wordvessel.blogspot.com/ Cathy Bryant

    Personally speaking, the recession has served as extra motivation for me to launch out and try things that I wouldn't have otherwise tried. It has also helped me to work on staying on a budget and living beneath my means. There really is a silver lining to every cloud!

  • http://davidfoster.tv/ David Foster

    Good list, see my attempt at; http://www.davidfoster.tv/7-benefits-of-these-goo

  • http://rcwriter.wordpress.com Rhonda Clark

    With careful planning and shrewd business dealings will allow me to come out of this recession better than when I went in. I see this as an advantage rather than a draw back.

  • Jeffrey McPheeters

    Economic slowdowns create a slower pace in other areas of our lives, and we can all use time to reflect and recalibrate our priorities. Thanks for the list, Michael. It’s a good start and others will augment this.

  • http://www.terryburns.net/ Terry Burns

    Excellent comments. I always enjoy them. I had to work up a presentation for the Glorieta Writers Conference on Publishing and the economy. I'm giving it again at the Heart of America Conference in KC Friday. I talked to a lot of industry pros working it up and found their input a real slice of reality. I've posted those comments on my website (under articles) if anybody is interested. I'm an optimist and believe things are going to work out well, but only if we really understand the situation as it really is and work with that situation in mind. Keep up the excellent postings.

  • http://www.danieldecker.net daniel d

    I agree. There is a lot of positive that can come out of something perceived as negative. If can’t control the circumstances, we can control our response. (Serenity Prayer)

    For this particular recession I think it’s a positive thing in that God may be using it to send us a wake up call. People living beyond their means, corporate greed, a focus on “stuff” and lack of focus on Him can certainly be redirected with a financial shake up.

    A recession removes clutter. Trims fat and in the long term will help us grow. It’s all a cycle.

    I’m also excited about what appears to be a surge in social causes. People using their money and resources to help one another. It’s no longer cool to drive a Hummer to the grocery store. It’s cooler to put shoes on the feet of a child in need. :)

  • http://rcwriter.wordpress.com/ Rhonda Clark

    With careful planning and shrewd business dealings will allow me to come out of this recession better than when I went in. I see this as an advantage rather than a draw back.

  • http://building-his-body.blogspot.com/ Anne Lang Bundy

    If I may elaborate on above points …

    It increases our dependence on God (causes reliance on others, awojtowski).

    We are less able to respond to the suffering of others with financial resources, and tend to respond to them with more of ourselves and our prayers (we connect with each other more, Carrie)

    We are compelled to abandon artificial gratification for real contentment (real wealth isn’t about the stuff you own, Hyatt).

    And since it does accelerate change, the hand of the Lord in the world becomes more visible.

  • Jeffrey McPheeters

    Economic slowdowns create a slower pace in other areas of our lives, and we can all use time to reflect and recalibrate our priorities. Thanks for the list, Michael. It's a good start and others will augment this.

  • Michael Edwards

    The number one benefit of a recession in my opinion is that its a reminder that there is a nother BOOM around the corner.

  • Laura

    Probably ties in with #4 but
    it makes us grateful for what we have and with #10 Causes us to take care of what we do have

  • http://booksandboys.blogspot.com/ Max Elliot Anderson

    I think we may face something much more difficult than a simple recession this time around. What is coming may very well lead to the revival that America has so desperately needed.

    Max
    http://booksandboys.blogspot.com/

  • http://www.danieldecker.net/ daniel d

    I agree. There is a lot of positive that can come out of something perceived as negative. If can’t control the circumstances, we can control our response. (Serenity Prayer)

    For this particular recession I think it’s a positive thing in that God may be using it to send us a wake up call. People living beyond their means, corporate greed, a focus on “stuff” and lack of focus on Him can certainly be redirected with a financial shake up.

    A recession removes clutter. Trims fat and in the long term will help us grow. It's all a cycle.

    I’m also excited about what appears to be a surge in social causes. People using their money and resources to help one another. It’s no longer cool to drive a Hummer to the grocery store. It’s cooler to put shoes on the feet of a child in need. :)

  • http://berlysue.blogspot.com Kim

    Well, if the recession sparked this blog post, a-men!! What an encouragement! I’m going to bookmark this and come back to it when I get discouraged! God is already moving in the hearts and lives of men and women, as evidenced by the responses here! That alone is reason to rejoice!

    Amen and Amen!!

  • http://building-his-body.blogspot.com/ Anne Lang Bundy

    If I may elaborate on above points …

    It increases our dependence on God (causes reliance on others, awojtowski).

    We are less able to respond to the suffering of others with financial resources, and tend to respond to them with more of ourselves and our prayers (we connect with each other more, Carrie)

    We are compelled to abandon artificial gratification for real contentment (real wealth isn’t about the stuff you own, Hyatt).

    And since it does accelerate change, the hand of the Lord in the world becomes more visible.

  • http://www.lynnsquire.com Lynn Squire

    And it helps you to remember to anticipate seeing God at work. I’m excited about facing the future because I believe we will see God’s plan for us unfold in miraculous ways.

  • Sherrie Allen

    Having been in the midst of a “down-sizing” I will say here what I told the gentleman that gave me my release papers…”This (meaning my seperation and severance package) has NO bearing on my salvation. It does not define who I am in Christ. It is just a mere bump in the road on my Journey….a “speed bump” if you will. I know that the plans that God has for me…is much, MUCH great than THIS!!! And I can’t wait to find out what those plans are”. I can honestly say, that those plans were MUCH greater and beyond what I could have imagined. To this day, I don’t know HOW the HR Manager at the company I now work,found me. I don’t know where she got my cell number as I had not posted my resume online yet. I know that God sets His plans in order and orchestrates all things for His Glory. He has a much bigger picture that we can’t even imagine…and everything that happens in our lives is relevant to THAT picture. Whether we want to believe or accept that or not. Our economy…matters…the recession …matters…businesses downsizing…matters…every business decision we make…you BETTER believe that it MATTERS…every individual that those decisions impact…THEY matter. It’s like those amazing photos that you see composed of tiny photographs put together in intricate detail to form a work of art…each one placed in a specific place to make the whole piece come together. Each one MATTERS…get the picture??? While this recession may seem enormous right now…believe me, we’ve been through it before (remember the 70′s???) and we survived…(remember the 80′s???) “This too shall pass” :) And God saw it all coming!!!

  • Michael Edwards

    The number one benefit of a recession in my opinion is that its a reminder that there is a nother BOOM around the corner.

  • Laura

    Probably ties in with #4 but
    it makes us grateful for what we have and with #10 Causes us to take care of what we do have

  • http://booksandboys.blogspot.com/ Max Elliot Anderson

    I think we may face something much more difficult than a simple recession this time around. What is coming may very well lead to the revival that America has so desperately needed.

    Max http://booksandboys.blogspot.com/

  • http://berlysue.blogspot.com/ Kim

    Well, if the recession sparked this blog post, a-men!! What an encouragement! I'm going to bookmark this and come back to it when I get discouraged! God is already moving in the hearts and lives of men and women, as evidenced by the responses here! That alone is reason to rejoice!

    Amen and Amen!!

  • http://www.lynnsquire.com/ Lynn Squire

    And it helps you to remember to anticipate seeing God at work. I'm excited about facing the future because I believe we will see God's plan for us unfold in miraculous ways.

  • http://www.PFMinistries.com Paula Friedrichsen

    My husband insisted we downsize about three years ago. I’ll admit to the fact that I didn’t take kindly to the idea of selling our dream home. But eventually I relented and we moved into a much smaller home in a rural part of town. I found that suffering through tough financial times is initially quite embarrassing and humbling. Eventually though, I realized how our financial set-back helped me to define what’s really important in my life (as trite as that sounds). My source of joy is my walk with God! My family! My wonderful friends, my health, and my rewarding work/ministry! Although in all honesty owning a lovely home sure did make life sweet–when the lovely home was taken from me, I found that I was still happy, and still enjoying my life.

  • http://www.dadslastletter.com Bud Boughton

    Michael,

    This may be your very best blog ever! I wish they would begin the 6 PM network news on all the major networks with your 10 points as well as have them publsihed on the front page of The Wall Street Journal and The New York Times. Finding positives in difficult times is what hope and faith are all about. Thank you for giving us all some inspiration for these difficult times. God is good. Life is good.

  • Sherrie Allen

    Having been in the midst of a "down-sizing" I will say here what I told the gentleman that gave me my release papers…"This (meaning my seperation and severance package) has NO bearing on my salvation. It does not define who I am in Christ. It is just a mere bump in the road on my Journey….a "speed bump" if you will. I know that the plans that God has for me…is much, MUCH great than THIS!!! And I can't wait to find out what those plans are". I can honestly say, that those plans were MUCH greater and beyond what I could have imagined. To this day, I don't know HOW the HR Manager at the company I now work,found me. I don't know where she got my cell number as I had not posted my resume online yet. I know that God sets His plans in order and orchestrates all things for His Glory. He has a much bigger picture that we can't even imagine…and everything that happens in our lives is relevant to THAT picture. Whether we want to believe or accept that or not. Our economy…matters…the recession …matters…businesses downsizing…matters…every business decision we make…you BETTER believe that it MATTERS…every individual that those decisions impact…THEY matter. It's like those amazing photos that you see composed of tiny photographs put together in intricate detail to form a work of art…each one placed in a specific place to make the whole piece come together. Each one MATTERS…get the picture??? While this recession may seem enormous right now…believe me, we've been through it before (remember the 70's???) and we survived…(remember the 80's???) "This too shall pass" :) And God saw it all coming!!!

  • http://www.consequentialvalue.com davidpleach

    Good list. Thanks. Re: #3, the competition is best thinned out when you force the issue. It’s win or be thinned out there. The best creativity (#1) will target winning the market share skirmishes, not prettying up the bunkers or polishing the core competencies.

  • http://www.PFMinistries.com/ Paula Friedrichsen

    My husband insisted we downsize about three years ago. I'll admit to the fact that I didn't take kindly to the idea of selling our dream home. But eventually I relented and we moved into a much smaller home in a rural part of town. I found that suffering through tough financial times is initially quite embarrassing and humbling. Eventually though, I realized how our financial set-back helped me to define what's really important in my life (as trite as that sounds). My source of joy is my walk with God! My family! My wonderful friends, my health, and my rewarding work/ministry! Although in all honesty owning a lovely home sure did make life sweet–when the lovely home was taken from me, I found that I was still happy, and still enjoying my life.

  • http://www.dadslastletter.com/ Bud Boughton

    Michael,

    This may be your very best blog ever! I wish they would begin the 6 PM network news on all the major networks with your 10 points as well as have them publsihed on the front page of The Wall Street Journal and The New York Times. Finding positives in difficult times is what hope and faith are all about. Thank you for giving us all some inspiration for these difficult times. God is good. Life is good.

  • http://www.consequentialvalue.com/ davidpleach

    Good list. Thanks. Re: #3, the competition is best thinned out when you force the issue. It's win or be thinned out there. The best creativity (#1) will target winning the market share skirmishes, not prettying up the bunkers or polishing the core competencies.

  • http://levellies.blogspot.com Jeanette Levellie

    How about: It causes us to rely on God rather than people or our nation to supply our needs? We can always find someone in a worse situation than we. Usually, bad times bring out the goodness in good people’s hearts

  • http://levellies.blogspot.com/ Jeanette Levellie

    How about: It causes us to rely on God rather than people or our nation to supply our needs? We can always find someone in a worse situation than we. Usually, bad times bring out the goodness in good people's hearts

  • http://www.cityteam.org Patrick (Pat) Robertson

    Michael I love your thinking and modifed your recient “Commitments to Barak Obama” to a letter sent out to all my staff and friends. In recient times we have been convinced we need to run toward conflict, disaster, turbulence, war and hard times because we will find spiritual openness to be greater in times of difficulty. We are praying that these times may lead to spiritual harvest times and times of acclerated discipleship and church planting. May the spiritual wisdom expressed by some of your readers in their comments be true in our nation.

  • http://www.joetye.com Joe Tye

    Michael Crosby wrote a book called “Thank God Ahead of Time” (a biography of Brother Solanus Casey); those five words are an excellent way to greet the arrival of difficult times.

    Mike has since published “Finding Francis, Following Christ” (a biography of Saint Francis) and “The Paradox of Power: From Campassion to Control.”

  • http://www.cityteam.org/ Patrick (Pat) Robert

    Michael I love your thinking and modifed your recient "Commitments to Barak Obama" to a letter sent out to all my staff and friends. In recient times we have been convinced we need to run toward conflict, disaster, turbulence, war and hard times because we will find spiritual openness to be greater in times of difficulty. We are praying that these times may lead to spiritual harvest times and times of acclerated discipleship and church planting. May the spiritual wisdom expressed by some of your readers in their comments be true in our nation.

  • http://theadagencysurvivalguide.blogspot.com Kevin McIntosh

    Excellent post. A classic in fact. You’ve said so much in just 10 points. As a professional writer, I’m envious.

  • http://www.joetye.com/ Joe Tye

    Michael Crosby wrote a book called "Thank God Ahead of Time" (a biography of Brother Solanus Casey); those five words are an excellent way to greet the arrival of difficult times.

    Mike has since published "Finding Francis, Following Christ" (a biography of Saint Francis) and "The Paradox of Power: From Campassion to Control."

  • http://theadagencysurvivalguide.blogspot.com/ Kevin McIntosh

    Excellent post. A classic in fact. You've said so much in just 10 points. As a professional writer, I'm envious.

  • http://www.mommyzabs.com Mommy Zabs

    It Causes you to re-evaluate your priorities. I guess that would sort of fit into #2, but more specific. I’m finding that I have to really evaluate what I need and want. I’m also having to alter my ways of doing thing… for example coming up with better ways to shop responsibly. I have always had a lot and for the first time am having to learn how to live with little. Quite stretching to say the least…. but I know it is good for me. God is teaching me a lot.

  • http://www.mommyzabs.com/ Mommy Zabs

    It Causes you to re-evaluate your priorities. I guess that would sort of fit into #2, but more specific. I'm finding that I have to really evaluate what I need and want. I'm also having to alter my ways of doing thing… for example coming up with better ways to shop responsibly. I have always had a lot and for the first time am having to learn how to live with little. Quite stretching to say the least…. but I know it is good for me. God is teaching me a lot.

  • Mary Wang

    We should look on both sides of the shield no matter what has happened.

  • Mary Wang

    We should look on both sides of the shield no matter what has happened.

  • http://www.greggfraley.com Gregg Fraley

    A recession is the perfect time to do a start-up. Good help is around and available at a reasonable cost. If you get something interesting going — which usually takes about two or three years — your timing is perfect for the upturn. You’re locked and loaded for growth, maybe even an IPO…

  • http://www.greggfraley.com/ Gregg Fraley

    A recession is the perfect time to do a start-up. Good help is around and available at a reasonable cost. If you get something interesting going — which usually takes about two or three years — your timing is perfect for the upturn. You're locked and loaded for growth, maybe even an IPO…

  • http://www.davidteems.com/wordpress David Teems

    Sweet are the uses of adversity . . . and this our life exempt from public haunt finds tongues in trees, books in the running brooks, sermons in stones and good in every thing.
    —William Shakespeare [AS YOU LIKE IT]

  • http://www.davidteems.com/wordpress David Teems

    Sweet are the uses of adversity . . . and this our life exempt from public haunt finds tongues in trees, books in the running brooks, sermons in stones and good in every thing.
    —William Shakespeare [AS YOU LIKE IT]

  • http://www.ronedmondson.com Ron Edmondson

    This is a good post. I think I see these items in the life of my grandparents who lived through the depression. Someone also said, “Anything that causes us to pray more or be more dependent on God is a good thing.” I don’t know that I embrace that fully, but I understand the concept.

    I’m looking forward to the lessons learned. This post actually helps me with my Sunday message. Thanks.
    Ron Edmondson
    http://www.ronedmondson.com

  • http://www.ronedmondson.com/ Ron Edmondson

    This is a good post. I think I see these items in the life of my grandparents who lived through the depression. Someone also said, "Anything that causes us to pray more or be more dependent on God is a good thing." I don't know that I embrace that fully, but I understand the concept.

    I'm looking forward to the lessons learned. This post actually helps me with my Sunday message. Thanks.
    Ron Edmondson http://www.ronedmondson.com

  • http://www.theunbreakablechild.com Kim

    Michael, this is a wonderful post. And I’m happy to see so many posters with positive attitudes. Thank you,
    Kimmi

  • http://www.theunbreakablechild.com/ Kim

    Michael, this is a wonderful post. And I'm happy to see so many posters with positive attitudes. Thank you,
    Kimmi

  • http://grace4rae.wordpress.com Rachel

    I love this list (and all the add-ins from everyone else)! It’s nice to be reminded that there is a silver lining and things can only go up once they hit rock bottom.

    I do have to say, however, for those of us who lost jobs due to the economy – the competition to find a new source of income hasn’t “thinned out.” But thankfully, God is the provider – not the job. :)

  • http://grace4rae.wordpress.com/ Rachel

    I love this list (and all the add-ins from everyone else)! It's nice to be reminded that there is a silver lining and things can only go up once they hit rock bottom.

    I do have to say, however, for those of us who lost jobs due to the economy – the competition to find a new source of income hasn't "thinned out." But thankfully, God is the provider – not the job. :)

  • http://www.minnesotapropertiesonline.com Minneapolis Real Estate Agent

    Well in this housing lead recession the worst may be yet too come I think. Income versus Home prices are way out of whack and many believe, as do I, that homes prices nationally will need to drop another 20% before hitting bottom.

  • http://www.minnesotapropertiesonline.com/ Minneapolis Real Est

    Well in this housing lead recession the worst may be yet too come I think. Income versus Home prices are way out of whack and many believe, as do I, that homes prices nationally will need to drop another 20% before hitting bottom.

  • http://www.thedailyanchor.com Andrew

    Great list, Michael. I just wrote an article about the benefits of a recession being the same as those of a forest fire, and referenced this list for added-value.

    http://www.thedailyanchor.com/2009/01/28/the-benefits-of-a-recession/

  • http://www.thedailyanchor.com/ Andrew

    Great list, Michael. I just wrote an article about the benefits of a recession being the same as those of a forest fire, and referenced this list for added-value.
    http://www.thedailyanchor.com/2009/01/28/the-bene

  • http://www.ginoorlandi.com/ NC SEO

    I agree I think people tend to slack off when times are good and cab be surprised at all the stuff they could be doing to increase business.

  • http://www.ginoorlandi.com/ NC SEO

    I agree I think people tend to slack off when times are good and cab be surprised at all the stuff they could be doing to increase business.

  • http://trampolineman.wordpress.com/2009/08/04/the-benefits-of-the-recession-to-a-business/ Trampoline Man

    So what do we think the benefits are?

    1. Growing in a declining market costs much less. Growing is horrifically expensive. More stock, more cash, more space, more staff. It eats money. Do it when the market is down and you can grow share with out the spend.

    2. The competition became distracted. Some competitors cut back, reducing range and staff. That gave us opportunities.

    3. We learnt to focus on the best customers. One of the first things to happen was poorly managed customers going bust. It has really tightened credit control and our views on who are the best people we want to work with.

    4. We treat things with more respect. From forklifts in the warehouse, to the chairs and computers, people have started to feel respect for things. Everything is less disposable.

    5. We learnt to look for value again. We have re-pitched all main items of expenditure, not necessarily giving the business to the cheapest, but the best.

    6. We have slowed down and thought more.

  • http://trampolineman.wordpress.com/2009/08/04/the-benefits-of-the-recession-to-a-business/ Trampoline Man

    So what do we think the benefits are?

    1. Growing in a declining market costs much less. Growing is horrifically expensive. More stock, more cash, more space, more staff. It eats money. Do it when the market is down and you can grow share with out the spend.

    2. The competition became distracted. Some competitors cut back, reducing range and staff. That gave us opportunities.

    3. We learnt to focus on the best customers. One of the first things to happen was poorly managed customers going bust. It has really tightened credit control and our views on who are the best people we want to work with.

    4. We treat things with more respect. From forklifts in the warehouse, to the chairs and computers, people have started to feel respect for things. Everything is less disposable.

    5. We learnt to look for value again. We have re-pitched all main items of expenditure, not necessarily giving the business to the cheapest, but the best.

    6. We have slowed down and thought more.

  • Kevin McLogan

    I lead a support group for unemployed people at our church, and the big benefit I see is the inner renewal of so many people.
    Some reinvent themselves, some learn new skills, but all of us have benefited by the introspection and subsequent re-dedication to the pursuit of our long-held values.

  • Kevin McLogan

    I lead a support group for unemployed people at our church, and the big benefit I see is the inner renewal of so many people.
    Some reinvent themselves, some learn new skills, but all of us have benefited by the introspection and subsequent re-dedication to the pursuit of our long-held values.

  • Pingback: Why Going the Extra Mile is Even More Necessary in This Recession |

  • http://www.electronicslab.ph/forum Cameron258

    Our country had been so much affected by this Economic Recession. there are lots of job cuts and company shutdowns. We are seeing some signs of economic recovery right now and we hope that it would continue.
    *****

  • http://www.electronicslab.ph/forum Cameron258

    Our country had been so much affected by this Economic Recession. there are lots of job cuts and company shutdowns. We are seeing some signs of economic recovery right now and we hope that it would continue.

    *****

  • http://twitter.com/AnnieTackett @AnnieTackett

    I think it helps us to realize how much we waste our money. We didn't value it before because it was flowing freely. We can live on so much less and still be happy. Maybe when we get out of this mess we will find ways to do more with our excess.

  • http://twitter.com/AnnieTackett @AnnieTackett

    I think it helps us to realize how much we waste our money. We didn't value it before because it was flowing freely. We can live on so much less and still be happy. Maybe when we get out of this mess we will find ways to do more with our excess.

  • http://intensedebate.com/people/klreed189 Kyle Reed

    It trims off the fat and forces you to get to the necessities which is often needed. I would rather dress something up then make it simple. But because of all the financial struggles it forces me to be creative.

  • http://intensedebate.com/profiles/thrivingtherapypractice thrivingtherapypractice

    I work with therapists building private practices and many of them have difficulty getting their mindsets around the fact a recession can be a great time to build a business. I'm definitely going to share this post so they understand it's not just my craziness talking!

  • Joe Gartrell

    These recession “benefits” are available at any time, during any economy. The recession cost me $140,000 in real cash. Though I’m in a better place than when the recession started, it still hurts and was almost a cost that I couldn’t bear.

  • http://twitter.com/calinvalean Calin

    It forces us to save money and spend our money and not borrowed money.

  • PamelaVMason

    It makes you use everything you own to their greatest potential. Since you don’t take the purchase so lightly, you don’t take it for granted any longer, and you find out every way possible it can be used. 

    • PamelaVMason

      … and you also repair things instead of throwing them away. 

  • Anonymous

    During recessions, Bible sales always grow as does church attendance.  Of course, beer sales go up too.

  • http://www.facebook.com/profile.php?id=1017546621 Kendra Cameron Jarvis

    You find new uses for “old” things!

    blessings,
    kendra
    http://www.abusywomanslife.com

  • Pat Egale

    It is now forcecing hurting people to share with strangers, and they share with each other

  • http://twitter.com/apartmentsopen apartmentsopen.com

    what are the advantages of doing international business during a down-turn in America?

  • http://twitter.com/burlw Burl Walker

    Awesome post as always! I love the expression, “Millionaires are made in depressions!” Personally, I love that it makes us think outside the box more. It is to easy to get comfortable and uncreative when we have everything! I used to have a professor that would say, “The best thing a girl can do for a boy that is a poet is break up with him. Great poetry is written from broken hearts and yearning hearts, not hearts that are comfortably in love.” The same idea goes for businesses. When we get comfortable, it is time to shake things up.

  • Joyceowen1

    Simplifies life!

  • http://twitter.com/mcnairwilson mcnair wilson

    Got a great idea? How will you do it with a small budget? How can you do it with NO budget? If money is your only obstacle, you have NO obstacles, but your imagination. (You are the biggest hindrance to your  imagination …me too!)

  • Josi Silverman

    I love you!!! I’m posting this on my FB timeline so all my friends can read this wonderful text:))

  • Gloria2012books

    Benefits: It makes me to manage my time better , to work more and to design new strategies and develop more skills. I tell myself “I’m not in recession” and I always look for work to do. If I get paid or not, I know that I’m giving something. That way I don’t stop. Things happens when we move! :)

  • http://www.healthywealthyfamilies.net/ Hilary Martin, MBA, CFP®

    It’s an opportunity to harvest investment losses, which you can use to offset capital gains in later years. 

  • Martha Mikesell

     Be thankful for what you have.now and realize you could be worse off , there is always someone worse off than you are .

  • Shannon_CC

    If you allow yourself to embrace the difficulties it will build character. This will also carry over into your sphere of influence. I believe our children have learned more about the qualities of good character and strength as they’ve watched my husband and I navigate the harsh economic realities of recent years than at any other time.