For Those Who Are New To Recessions

So we’re officially in a recession and everyone’s running scared. Bad news is dominating the headlines and fresh redundancies seem to be announced nearly everyday. Some of us were in the tail end of the last recession so know how to keep positive and get through. 

But what about the recent grads and the people who’ve only been working during the good years – the years where it became normal to expect a lunch at  a top restaurant every week, the years where the jollies were lavish and  plentiful. These are frightening times for them and they’ll be wondering how to avoid being next on the chopping block. 

Neil’s advice about being a ‘Firestarter’ is great and we definitely need more media people putting their money where their mouths are. 

But what else can you do? 

 

1. Go the extra mile – stop putting in 95% and start putting 110%. Now’s not  the time to be going on the routine 4-hour Friday lunch and coasting through the week. 

 

2. Build your external profile & work your contacts – get involved with the relevant industry bodies and join a few of the committees. Companies like employees who are out there building their personal brands, because they build their company’s brand on the back of it. 

 

3. Anticipate your client’s needs before they need them – exceed their expectations and delight as much as you can. 

 

4. It’s easy to do the easy thing right now – challenge your clients  and show them that the easy thing isn’t always the right or the most profitable thing to do. 

 

5. Show how you’re making a contribution to your company’s profit sheet – think about ways to build income from existing clients. Retaining clients is just as important as winning new business right now.

 

6. Look for ways to make your company or even your role more efficient – step back and take a wider look at things. Question whether everything you do is needed and whether or not it adds value. 

 

7. Find the opportunity – keep an eye on what your competitors are doing and what media owners are up to. The short-term market is especially fertile and now’s the time to flex your negotiation skills.

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