When the Going Gets Tough, the Tough Get Real

I have survived a couple of noticeable business downturns, in both hemispheres, and I have to say that, in hindsight, some goodness comes from them.

I am not advocating that there's anything terribly good about hardship, more that such a period can have positive consequences some time later.

Hardship forces businesses and indeed individuals, to concentrate on the core of what makes them good. When the going is tough there's no place for vacuous, meaningless hype, what's needed is raw talent and skill.

In my mind it's the distinction between telling everyone you're a "thought leader" (or whatever the cool phrase of the day is), versus being justly rewarded because you actually are.

So how do you stack up in the "real" stakes right now and importantly, how well placed are you to meander the tough times?

Doing a "stocktake" now can be much better than waiting until you're in the thick of it.