The first two I don't recall any personal impact. I was employed in management roles by corporations in the financial sector and remember being told to just work harder.
The 1991 recession did have an impact because I was only a year into being self-employed. Most people in the corporations who were my clients stopped buying the people development I was offering at the time.
Through a lot of personal hardship and questioning myself I eventually pivoted to having privately owned and/or family business people as my clients, more than leaders in corporations.
Broadly speaking the former seemed to care more about people than those leaders in corporations with few exceptions did. Nothing much as changed in this regard!
The 2009 global recession also had a big impact on me. I was constantly on a aeroplane then and had clients in over 40 countries. I had learned many lessons in 1991 though about re-imagining, re-purposing and re-starting and so although I took a hit I recovered much faster than most and I also had cash reserves to withstand a hit.
1) Corporations as a general rule are the causes of recessions. I suspect they will be up to their necks in the causes and outbreak of corona too. Corporations don't care about people. There are a few purpose-driven people who lead corporations ethically and who genuinely care about people and our planet. These folk are the exception not the rule.
2) Governments by and large are heavily and unduly influenced by corporations.
3) In global recessions governments do what corporations want them too.
The value for me (and perhaps you) of economic crashes is three-fold:
1) Understanding that corporations rule the world and that greed and self-interest eventually cause trouble
Being prepared personally means that at any given time economic storms can be weathered. In such times taking advantage of government assistance is prudent. I see it personally as some return on the investment I made through taxes.
2) Controlling the controllables
There are things we can control and things we can't. Knowing which is which is important for sanity and staying focused.
This doesn't mean we give up on making a difference. I do my very best for instance every time I have opportunity to positively influence leaders in corporations. I know there are more purpose-driven leaders with heart in corporations than there has ever been and so I keep my shoulder at the wheel.
3) Re-imagining, re-purposing and re-starting are common-sense regardless of what is happening in the economic world
Particularly since 2009 I have re-invented myself in some way every year and help my clients to do the same.
Beginning early 2019 I began shifting to doing 80% of my work with clients online. This shift has served me well DC (during corona).
There is life AC (after corona). We get to decide what kind of life it will be. Re-imagining and re-purposing before re-starting is essential.
Who will you become?
What will you do next?
Maybe I can help.
My colleague Susan Furness and myself have co-created a 3 sessions online programme called Strategic Heartistry. We still have a couple of places for programme 3 that begins tomorrow and the registration desk is open for programmes 4 and 5.
Learn more here or contact me on +61 418 807 898.