The headline of the front page of the USA Today on Wednesday, July 17, 2008, was this:

“Signs of a growing crisis – ‘Relentless flow’ of bad economic news suggests there’s no easy way out.”  

The headline continues by summing it up this way:

“Dow – Blue-chip stocks down 21.2% in past year — Inflation – Wholesale prices have risen 9.2% since June 2007 — U.S. dollar – Down 13.2% vs. euro during the past year — Foreclosures – Up 53% since this time last year.”

On Friday, July 11, 2008, the headline of the Wall Street Journal was:  “U.S. Consumers Trade Down As Economic Angst Grows.”

Wow.

If you’re reading these headlines, it must be creating tremendous stress in your life and business.

The economic conditions are what they are.  We can’t wish them away and “hope for the best”. 

Reading these articles you would think the world is coming to an end. 

The articles will tell you the unemployment rate is 5% and growing.  They create fear in the marketplace.  For the 5% things are difficult.  But if you notice the headlines never shout out in bold print that 95% of the working population is employed. 

There may be a million houses in foreclosure. The articles don’t talk about how many people pay their mortgage on time. 

Yes, it is true we are in an economic downturn.  The stock market is down.  Inflation is up.  The value of the dollar has fallen.  And we haven’t witnessed a housing or bank crisis of this magnitude in decades.  Having it all come together in the headlines at the same time makes it even more bewildering and attention grabbing.  And it is a fact, there will be people that are seriously affected by the economic downturn.

But that doesn’t have to be you.

If you stop and listen to all this and buy into the fear, you too will become a victim of the economy.  It is what it is.  We have seen better economic times.  But that doesn’t mean your company has to be a victim of this business downturn.

If we could go back to when you started your business, and someone would have given you a business that had a building, employees, a direction, a defined marketplace, customers, etc., and the only catch was you had to work night and day to make the business profitable you would have been ecstatic beyond belief.  Many business people start with nothing and grow their business. 

So let’s take the position that rather than the world is falling down around us, we are really blessed to have the business structure in place that we have. 

We may have to cut back employee hours, even lay people off, we may have to go back to working long hours, we may have to review every single expense we have in the business and we may even have to pick up the briefcase and go sell our product or services.  But realize you really have something to work with.

Instead of thinking of it as disaster, think about it as an opportunity to make your business stronger. 

When the upturn comes and it always does, your company will be stronger, your competitors who whined about the economy will be out of business and you will be positioned for phenomenal success.  So all the work you are doing now will pay off. 

Your attitude, your will, your drive to succeed and the knowledge of your business and industry will get you through. 

So get out of your chair, get a new attitude, get to work.  You have a lot to do.

PS:  For more business strategy and business tips on how your business can thrive, not just survive, an economic downturn or even worse yet, the dreaded “R” word, recession… sign up to receive in your email box – FREE – my 30+ page special report.  You’ll find the offer for this timely special report right here on this blog, www.TalkBusinessWithHoward.com, top right side of the page.  Just look for the headline, “Special Report”.