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Will you respond or react to survive this economic downturn?

BusinessDay
4 Min Read
Coach Lara Yeku

In the midst of an economic downturn casting shadows over individuals, businesses, and society, tales of resilience and transformation emerge, showcasing the dichotomy between crisis and creativity.

Gloria and Kike, two women thrust into uncertainty by a corporate downsizing, found themselves navigating divergent paths. Gloria, a single mother, faced the daunting prospect of providing for her family alone, while Kike, already burdened by her husband’s job loss, struggled to weather the storm.

Gloria’s journey took an unexpected turn when fate led her to a corporate event. Chosen by chance to make a pitch, she seized the opportunity and emerged victorious. This serendipitous moment ignited her entrepreneurial spirit, propelling her into a new venture where she flourished as a master of ceremonies, unveiling a hidden talent and finding solace in the realm of business.

Meanwhile, Kike’s descent into despair mirrored the depths of her emotional turmoil. Plagued by depression and plagued by illness, she grappled with the harsh realities of her circumstances. Yet, amidst the darkness, a flicker of resilience remained as she turned to petty trading, determined to provide for her loved ones despite the odds stacked against her.

Their divergent paths underscored a fundamental truth: in times of crisis, our response determines our destiny. Armed with this insight, here are some guiding principles to navigate the tumultuous waters of economic uncertainty:

Emotional awareness:

Acknowledge your feelings and maintain a clear understanding of your emotional state. Awareness empowers you to confront challenges with clarity and composure.

Pause and reflect:

Amidst the tempest of emotions, take a moment to pause and recalibrate. By shifting from reactive emotions to proactive reflection, you can chart a course guided by reason rather than impulse.

Question and evaluate:

Interrogate the situation, probing for insights and opportunities amidst adversity. By reframing challenges as potential pathways to growth, you unveil the hidden treasures within the storm.

Explore options:

Cultivate a mindset of abundance, exploring a myriad of possibilities even in the face of scarcity. By expanding your repertoire of solutions, you transcend the confines of crisis and embrace the boundless horizon of opportunity.

Community and collaboration:

Seek solace and support in the embrace of community, forging bonds that bolster resilience and foster collective ingenuity.

Read also: Nigeria: Lagos leads in internet users despite economic challenges

Skill development:

Invest in your personal and professional growth, honing skills that empower you to thrive amidst uncertainty. Through continuous learning and adaptation, you fortify your capacity to weather the storm and emerge stronger than before.

Lifestyle review:

Engage in a critical appraisal of your habits and expenditures, aligning your lifestyle with the imperatives of resilience and sustainability. By prioritising essentials and cultivating mindful consumption, you chart a course towards financial stability and abundance.

In the crucible of crisis, opportunities abound for those who dare to dream and persevere. As Albert Einstein once proclaimed, “In the midst of every crisis lies great opportunity.” Embrace the challenge, seize the moment, and dare to envision a future illuminated by the resilience of the human spirit.

Coach Lara Yeku (CLY) is the Head of HR, Food Commercial Division; Certified Business Analysis Professional; the author of “My HR Story Book.

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