Speaking of economic downturn (as in previous post), I read a very inspirational article (in Swedish) and we had a chat about it here at the office as well. Well, not really a chat, my manager just briefly mentioned that in a recession you’ve got the best possibilities to grab market shares. It sounds very much like a comment from a “visionaire extraordinaire”; as in “that’s easier said than done”. But hey, he’s done it. So I’ve got no reasons to doubt. Yooba was established during the “worst” era in early 2000. So we’ve learned all the way (the hard way); from how the consumers/end users behave, to how you need to act in your business strategies. Obviously there’s no standard manual on how to act during a recession. Partly from our experiences, and referring to the article previously mentioned it’s in some aspects a psychological phenomenon.

Either you get frightened and passive, or active and specialized. The first is about letting the circumstances affect you, and the other is about adjusting yourself to the situation, looking at every possible option to do new business. This is the time (during a recession) when you can get new market shares at a lower price, but you probably won’t get the profit until the economic upswing comes.

Passivity is very uncreative.

You need to be offensive when everyone else gets defensive.

The risks might get bigger in a recession, but you take the biggest if you get passive.

Tags: creativity, recession, yooba, marketing, strategy