How to Create Teams That Win in Trying Times
In this article, Janice Omadeke, CEO and Founder of The Mentor Method, shows how companies can outlast market fluctuations while retaining their most valuable asset: their people.
In the 20th and 21st centuries, economists have marked 15 distinct recessions in the United States (so far) that directly affected the lives and bank accounts of millions of Americans. During these economic downturns, the same sequence of events always inevitably plays out: Investors get nervous, demand falls, businesses begin to fail or struggle, and unemployment rises, often due to layoffs. Despite this, the economy always — eventually — recovers.
It's important to recognize the reality of the fears that plague those affected by recessions when they are happening as lives and livelihoods are affected in real, meaningful ways. But at the same time, it's easy to forget that recession is a natural part of the economic lifecycle. The economy has seasons, and recession is its winter. As much as we may want to rail against it, hoping to turn from autumn to spring, winter always comes.
Continue reading this article - and everything on Entrepreneur!
We make some of our best content available to Entrepreneur subscribers only. Become a subscriber for just $5 to get an ad-free experience, exclusive access to premium content like this, and unlock special discounts.
Entrepreneur Editors' Picks
Kale Was a Garnish Before This Creative Genius Made It Famous. Here's How She Did It — and What She's Planning Next.
Telling Your Brand Story Is Crucial. 4 Steps to Ensure That It Resonates.
This Baker Was Told Not to Speak Spanish With Colleagues, So She Started Her Own Cake Company That Values Employees Just as Much as Customers
Improving Yourself Takes 9.6 Minutes of Work Each Day
Meet the Women Behind Some of McDonald's Most Iconic (and Essential) Ingredients — and How They're Setting New Standards
Remote Work Shouldn't Be Up for Debate
Employees Are Over Foosball Tables and Free Snacks. Your Company Culture Needs This Instead.