The Bright Side of a Recession
It seems like no matter who you talk to these days, negativity abounds. Not that there is nothing to complain about, but a negative attitude tends to stifle creativity, innovation, and perseverance – the very things that are essential for surviving this slump. As engineers, our goal should be to develop a counterbalance to the doomsday hype by focusing our attention on the benefits of a recession rather than the problems. Benefits? Sure, why not? Here is a list to get you started:
- No employee problems. That is, assuming you still have employees. I was cleaning out some old work files recently and found a stack of notes, reports, and forms dealing with employee performance issues from years past. There was everything from excessive tardiness to surfing the Internet. Just being reminded of these incidents made my blood pressure rise. Funny thing is, when people are highly motivated just to have a job, employee performance problems disappear. Furthermore, recruiting is no longer the problem that it once was.
- Great subconsultant fees. If you do happen to find yourself a little short staffed, affordable help is just a phone call away. I am blown away by some of the subconsultant fees that have crossed my desk lately. Increased competition, reduced overhead, and a low backlog have lead to lower fees. Good stuff – as long as you’re not a subconsultant.
- Plenty of office space available. Okay, maybe this is pushing it; but, I remember a time not too long ago when double decker cubicles weren’t out of the question. Those who link their success to the size of their office should have no problem finding some Class A office space at a great price right now.
- No fighting for available CAD licenses. Hey, it’s the little things. Now, if we could just get AutoDesk to buy back all those extra seats…
- Fast plan checks. Last week, I heard of a City that is turning plan checks around in three days. Inconceivable! I guess another benefit of a recession is that even those in the public sector are reminded that job security is not always a given. The level of customer service at the public agencies is definitely on the rise.
- Your big competitors suddenly don’t seem so big.Probably because they aren’t! In this economy and the next, one thing is certain – success will not necessarily follow those companies with the largest payroll. Your ability to skillfully market the value of your services to clients and deliver on your promises will directly affect your success rate in this business. This rings true no matter the size of your company.
And you thought there wasn’t a bright side! Got more to add to the list? Post them as a comment or send them to aj@engipreneur.com.
February 8th, 2010 at 10:35 am
A.J.,
My favorite benefit of this recession is some of the relationships that I have gained. I have several clients now that I probably would never have had if I did not get creative with my prospecting. The recession has also forced me to be creative in everything that I do from operations to production to marketing. As my wife tells me on a regular basis, she never knew an “enginerd” could be so creative!
Bill
February 8th, 2010 at 12:25 pm
If you want to experience creativity overload, try surrounding yourself with a bunch of acrhitects! Great feedback, Bill. Thanks for sharing!