How are you holding up in these uncertain times?
Quite frankly, the talk of recession-recession-recession is beginning to wear me out. You can’t get into any decent conversation with Nigerians these days without hearing the ‘R’ word. The classical answer to everything now is…‘it’s the recession!’ Or ‘don’t you know we’re in a recession?’ It’s the reason someone is yet to be married, it’s the reason an able bodied young man throws in the towel and neither looks for a job nor engages in a potentially profitable venture, it’s the reason a business man no longer does a decent job of trying to attract clients. After all, there is ‘no money’ in the economy, don’t you know we’re in a recession? And the news doesn’t help one bit!
In fact the word on the street is that household shopping is ending more and more in panic attacks, plus emergency meeting of madam and the househelps on ration sizes, plus express threats of not buying certain brands of provision for the children anymore…all these picky children have no idea now, do they? Hian!
So, things have changed, and so should you.
But….! Mind how you change! Don’t join the rhetoric of complaining about the recession or escalating prices, which I sorta prefer. Stay calm and devise creative ways of coping with the changes instead. And please, don’t believe everything you hear….Relax! there is still ‘money’ in the economy. Plenty money sef.
You heard me, the money hasn’t gone anywhere, but the rules have changed, and are still changing. Spending habits are changing, organisations are changing…
I got this excerpt from a message I received from a colleague at work yesterday:
“The story is told of two men sitting in a bar. The first sits there and mopes, feeling sorry for himself.
Bartender: “What’s the problem?”
The man responded: “The economy is awful. My business is losing money every second, and I may have to declare bankruptcy.”
Bartender: “I’m so sorry, here, have a beer on the house.”
A few minutes later, the bartender sees the second man celebrating and buying drinks for everyone.
Bartender: “What’s the occasion?”
The second man: “The economy is awful!”
Confused, the bartender asks: “Why on earth would you celebrate that?”
The second man: “I’m a bankruptcy lawyer!””
The title of the piece was ‘a coin has two sides’. I totally agree. This recession-recession-recession we’re screaming at the top of our lungs has two sides. The negative and complaining side; and the positive and profitable side. You should choose the positive side. If you ever say ‘we’re in a recession’, you should follow it by how you’re harnessing that bit of information. Because, that’s what it is – information. What you do with that information is what really determines what side of the coin you land on.
Have you planned out your finances for the next couple of months or you’re still buying away banking on the alert you are bound to receive at the end of the month, or not receive? Have you thought of ways to preserve your wealth however big or small (government securities, mutual funds, investments and the rest) or are you still holding your little nest in a savings or current account, knowing fully well that in a recession the value erodes daily? Scratch that….The value erodes by the minute! Have you thought about more innovative ways to deliver your services to your customer so that you don’t have to increase prices, and yet preserve a large chunk of your profit margin? Have you thought of what business ideas are particularly known to thrive in a recession? just like the bankruptcy lawyer in the excerpt above? Have you thought about a replacement for your lost income stream, or a second or third stream of income as the case may be?
If you haven’t thought about some or all of these, this is a clarion call to please do! Don’t let this recession happen to you! After all, the bible tells us of how Isaac sowed in the land in the same year there was a famine, and he reaped a hundred fold, because…the Lord blessed him (Isaiah 26: 1, 12-14). Keep sowing in faith, and the Lord will surely bless!
Between, did you hear the story of the boys washing their hands with expensive champagne at a night club recently? And your’re busy shouting there’s ‘no money!’ Abegiii, you better position for a progression in this recession (did I just rhyme?, Lol…)
Hope you take action today!