Here in Michigan, we face daunting statistics and realities every day when it comes to business. Now we hear talk of a possible nationwide recession. For those of us who have our own businesses, the bad news, dismal reports and struggle to find new business creates a challenge - to stay positive.

Three Good Things About A Downturn in the Economy

What are some good things about an economic downturn?

1) A downturn shows where your business may be weakest because business will drop off in this area. What can you do to shore up this area? Is it time to drop this service or product so you can focus on the strongest aspects of your business?

2) A downturn makes you more grateful for your loyal, returning clients and customers. These people are your bread and butter. They like you; respect your work; they willingly refer you to other potential clients. What can you do to show them you appreciate them?

3) It offers you the opportunity to slow down a bit and work on some of the improvements, upgrades and personal education you put on the back burner. Instead of reluctantly parting with the money required, recognize that now is the time to invest and be ready for the upswing in business that is bound to come by working on fine tuning your skills, learning new ones, or working on new attitudes and habits. If you don't do it now, you certainly won't do it when you're running around working on new projects, enrolling new clients, and balancing a packed schedule.

Fight Complacency

One of the biggest enemies of a downturn in the economy is complacency or a "hurry up and wait" attitude. Hurry up and wait is inactivity. As a business owner you should be actively pursuing the next big thing; work on fine tuning office procedures; enhance your employee's skills; and/or invest in your own professional development. Fight off the urge to wait for things to get better and use the down time to get your ship in order. It defies logic, but it will be time, energy and money well spent.

An example: A local plant nursery is in the midst of a major renovation. With people leaving Michigan in record numbers the owner of the nursery admits it seems like an odd time to be spending so much money on expanding and upgrading his store but he says he is counting on things turning around. In the meantime, he wants to be able to offer the best possible store and product to his returning customers. It is great to drive by and see the work trucks out front. It flies in the face of all the bad news and is a positive reminder that business will be booming again. The question is will you be ready?