10 Lessons for Recessions with Derek Southall Founder & CEO of Hyperscale Group
And so we are officially in a recession…
Jobs are being lost, litigation is on the rise and costs are being cut. Ironically over the years, I have listened to numerous versions of business continuity plans dealing with pandemics such as Bird Flu and SARs but the key component that many have missed is the devastating effect on the economy and specific industries which we are now seeing. The unthinkable has happened and people have had to learn fast.
I obviously don’t like recessions but thankfully I have been around long enough that they don’t scare me in the way they perhaps used to. I have been blessed to work with some great people and over the years have learnt some good tactics to navigate the choppy waters that recessions bring – these great brains have also drummed the message into me that based on history expect a recession every 7-8 years and so you need to plan for them. Also, those of you who know me well will know “Southall’s Law” namely that “The only real problems in life are health and death – everything else is sortable.” Recessions are not fun but are equally not the end of the world.