Two recent articles in mainstream media recently highlight the challenging times we are in right now.
“Australia is in the middle of a cost-of-living crisis, but we’re not the only ones”.
ABC news online 15/8/2022.
“And yet even amidst such turmoil there is every reason to be hopeful about Australia’s future”
Bernald Salt, The Weekend Australian, 31st July 2022
Media needs to be extreme to gain attention, which partially explains the reporting differences, however it does make it hard to know whether we are doom and glooming, or being hopeful.
I prefer Bernard’s take on things. He fully acknowledges our challenges and trials, whilst putting them in perspective based on historical world events and previous trials that we have suffered both in Australia and around the world.
This serves to bring the angst down to a level where we can and should examine the various crises we are experiencing in order to be able to cope, analyse and work through the issues.
When we suffer from anxiety and fear, we have a natural tendency to be less able to examine things objectively and put them in perspective. And it is this ability to focus on issues, discuss and problem-solve where possible that will assist us to move forward and take everything good we can out of difficult times.
“In the midst of every crisis, lies great opportunity”
“The time to buy is when there’s blood on the streets, even if the blood is your own”
Baron Nathan Rothschild
In the Global Financial Crisis and during the Global Pandemic, there were some great winners and losers. The winners were generally those looking for opportunities, willing to pivot when things changed, and with the ability and flexibility to adjust to what was happening around them.
Compare this to those who lost who generally tried to hold their ground, wait things out and hope that things went back to the way they were comfortable operating. They were often panicking and bunkering down, rather than watching, learning and changing. Whilst this reaction is perfectly understandable and often relatable, it is not helpful.
Of course, we need to acknowledge that personal circumstances can affect reactions to stress, and this article is not about judging those struggling. Not every business and not every person can just change things up. A lot depends on what they are dealing with personally, what stage of business they are at, and what type of business they are in. Everyone deserves support in difficult times.
However, the focus here is on what we can do to both survive and thrive.
There have been countless examples during history of incredible change causing disaster for some people and prosperity for others. Think of events like the Industrial Revolution, The Great Depression, World Wars, Technology changes such as iPods and mobile phones, the internet, social media, and as often used as examples; Uber, Air B’n’B, and of course the relatively new option of Coworking Office Spaces.
Each of these examples has someone who profits and someone who fades into oblivion. I am sure you know of many other examples so please feel free to add these in the comments.
Sometimes the people and businesses who become winners are lucky, but more often than not they are open to opportunities and willing to take a leap of faith.
It is very difficult to reap large rewards without some risk, and whilst all risk should be calculated and within your own limits, you may need to sometimes take that jump.
What risks and opportunities have you taken?
What risks and opportunities do you wish you had taken?
And what might you do differently next time you see a potential winner?