What do the following businesses all have in common?
*Cue the Jeopardy background music*
Most people don’t know that each of these giant companies started in or around economic recession or depression. That’s right. In fact, half of the companies in the Fortune 500 index were started in a bear market or recession.
Innovation and hope can come out of dry, hard, painful, weak places.
The founder of LinkedIn says that starting a business during an economic downturn is the right time because it gives you runway. What does that mean?
Think of it this way, for a plane to achieve an altitude of thousands of feet in the air, it needs time on the runway to build speed and gain momentum.
Runways are long.
And they go for more than a mile. (average length is 6,000 ft)
You might not feel like any of 2020 gave you a new spark. Gave you a runway of new and inspired direction to run down. But knowing what these companies accomplished during hard times can give you hope.
That great ideas often start small. And day-by-day, stretch by stretch they can lead to achieving dreams.
Reading this blog, you might feel that today is the best of times, others the worst of times, and a few of you somewhere in the middle. I remember a few times last year feeling each of these emotions all within a few days. It was numbing at times. I reached out to a friend for some advice (the kind that I am used to telling others) and it helped me to get my head out of the fog and to begin to lead through these hard times.
While Loveworks did not start in 2011 with an unstable economy, we have weathered a few storms over the years. In fact, we are weathering one just like you due to a pandemic and COVID-19.
To get this started, we’d love to hear one way that helped you to lead through a difficult year?
On the next blog, I plan to share with you how we approached these hard times and what you can do to set yourself, company, and business you work for in a position to be hopeful.
Buckle up and get ready for take off.