Comments on: 10 Benefits of a Recession

By: @AnnieTackett

@AnnieTackett — Wed, 24 Feb 2010 18:20:05 +0000

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.

By: Cameron258

Cameron258 — Tue, 29 Dec 2009 09:01:02 +0000

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.
*****

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

Why Going the Extra Mile is Even More Necessary in This Recession | — Sun, 06 Dec 2009 18:25:17 +0000

[...] Hyatt once wrote: one of the benefits of a recession is that it “thins out the competition.” He was absolutely [...]

By: Kevin McLogan

Kevin McLogan — Wed, 30 Sep 2009 02:33:49 +0000

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.

By: Trampoline Man

Trampoline Man — Tue, 15 Sep 2009 13:19:34 +0000

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.

By: NC SEO

NC SEO — Sun, 08 Mar 2009 07:54:13 +0000

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.

By: Andrew

Andrew — Wed, 28 Jan 2009 18:53:44 +0000

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/

By: Minneapolis Real Estate Agent

Minneapolis Real Estate Agent — Thu, 20 Nov 2008 22:03:38 +0000

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.

By: Rachel

Rachel — Thu, 13 Nov 2008 06:21:18 +0000

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. :)

By: Kim

Kim — Thu, 13 Nov 2008 00:14:01 +0000

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