Business consultant Donna Every thinks she has the answer. “Some people have been successful during the recession because they haven’t relied on the standard approaches they’d use in more predictable times,” she says. “Instead, they look for opportunities in situations that would have been considered negatives five years ago.”
Although our economic situation is certainly improving, there’s still too much uncertainty to go back to the old ways of doing things. To that end, here are a few of Every’s suggestions for taking advantage of the unpredictable circumstances that thwart most other people.
Build On What You Already Have
Instead of setting goals and then seeking out the resources you’ll need to meet those goals, assess what you have available and decide what you can achieve. This approach saves you time and money, and it also allows you to leverage your organization’s individual and unique strengths.
Follow the Las Vegas Rule
Tourists planning a weekend in Las Vegas will often set aside the amount of money they’re willing to gamble – and lose — on cards or the slots. That way, they won’t lose more than they can afford. Rather than going after the biggest opportunities as you would in prosperous times, look for the opportunities that won’t require as many resources. Calculate how much you can afford to lose, and always consider the worst-case scenario.
For more of Every's recommendations, please read the full post at Intuit's Fast Track blog.