Surviving tough times: The power of awareness (2)

Stay consciously aware of all your thoughts and feelings if you wish to avoid falling into the negative behaviour of complaining” (Josephine Thomson).

Some years ago, the words “economic recession” became so entrenched in everyday conversation that virtually everyone used the terms to achieve one goal or the other. There was the story of a gentleman that lost his job as a result of his company closing down. Unable to pay his house rent, the man decided to negotiate with the landlord by asking to pay the consolidated outstanding debt at the end of the global economic recession. The landlord’s response was that the house rent had in fact been increased by 100% in order to absorb the economic recession shocks. Needless to say, the tenant’s money, job and home problems had just been consolidated and compounded.

The global economic recession of 2008/2009 was indeed a very challenging time worldwide. I recall the following statement made at that time by Mr. Joe Biden, the US Vice President: “Recession is when your neighbour loses his/her job, or when his/her business is having a tough time surviving the prevailing challenges. When the same scenario applies to you or your business, it is referred to as depression”.

The global economic recession of 2008/2009 had hit the US economy in 2007 and it wasn’t long before other countries around the world began to experience recession, as the global economy contracted. There was deepening of the credit market crisis, with major stock market crashes, flight of capital from developing nations, massive job losses and several other effects of worldwide economic recession.

Interestingly, two major classes of businesses emerged during the global economic recession. The first group was made up of companies that failed and soon became history. The second group comprised companies emerged stronger from the crisis and became history makers. This latter group obviously used the opportunities provided by the crisis to refocus and reinvent themselves. Thus, instead of getting into panic states, they became more responsive to the environmental factors. Internally, they became more aware of their strengths and weaknesses. Externally, they became more aware of the opportunities and threats around them. They utilised the power of awareness.

Personal awareness particularly in the time of business or economic downturn always challenges people to seek opportunities through their difficulties. It challenges them to be more alert, studious, ambitious and open-minded. As a result, they learn faster and also learn more experientially. At times like these they learn to ask the right questions and learn the right lessons. This in turn hastens the process of unlocking and unleashing potentials, as well as uncovering hidden wealth in the business. Ultimately, there is the chance to have a great business and a better lifestyle.

It is therefore not surprising that the period of the global economic recession also witnessed an upsurge in the quest for business and organisational coaching, especially in the US, Canada, Australia and the UK. Obviously, business leaders and managers that wanted to get ahead had decided that they would no longer hopelessly look to their governments and others for solutions. Rather, they chose to be part of the solution. They chose to make a real difference in the marketplace – and they were rewarded.

The time of economic or business downturn is a good time to step out of the comfort zones and become a valued solution provider. It is usually the time for the emergence of new economic, social and thought leaders that are inspired to create value for others. The time of a downturn is perhaps the best time to learn how to make the right adjustments to navigate tough times, and position yourself and business for the time of economic recovery and expansion. The growth of the coaching industry suggests this.

The role of business and organisational coaching, especially in the periods of economic and business downturn is to creatively and sustainably find ways to challenge business owners and managers to grow their business beyond the industry average. That way, economic recession woes would not pose the threat of causing business depression. Successful coaching processes in this regard would tend to focus largely on facilitating the most realistic, effective and impactful leadership possible. Raising the personal awareness of the leader and decision-maker is paramount.

The major coaching outcomes would therefore be related to building resonance, such that people can be moved toward shared goals. Secondly, there must be focus on helping individuals to improve performance by building on specific capabilities. Thirdly, a leadership style that motivates the team during crisis and stressful times must be adopted. It all begins with increased personal awareness.

Emmanuel Imevbere