My eldest daughter had her driving test this morning and whilst I was hoping she passed I was also of the view that it would do her no harm if she failed. That may sound harsh so let me explain my thoughts. She is a good kid who works hard in whatever she does and achieves great results as a consequence. She is almost finished school and is planning her life ahead. Now I know from experience that life is not always good to you no matter how hard you apply yourself – sometimes circumstances just work against you. I also know from experience that you learn more in tough times than you do when things are going your way. So a set back every now and again helps us to re-focus, adjust, learn and grow.
Many of my favourite sporting memories are from close fought competitions where circumstances have stacked the odds against one team only for them to rise up and perform beyond themselves. Now part of that comes from digging deep and giving that extra effort. Part of it also comes from concentrating on every aspect of the competition, to focus on the game plan and execute the strategy. In 2012 I had the opportunity to speak with Pete Jacobs shortly after he had won the 2012 Ironman World Championship in Hawaii. I asked him what he had done differently in 2012 compared to 2011 where he finished second in Hawaii. His reply was quite simply “focus”.
There have been a number of businesses close their doors in recent months during the economic downturn and many more businesses are experiencing difficult times. This is a great time for a business to focus on what they do and why they do it. A time to review and modify plans for the business. When times are good everyone gets busy and there may not be an opportunity to do this planning. There have been a number of redundancies around as businesses look at the cost of employees but tough economic times are also a great time to review how you do things, who your suppliers are, who your customers are so that your business is better positioned when the good times return.
With redundancies and uncertainty people will often take a closer look at their household finances to see where they can cut back and what they can sell if they have to. Now whilst it is not pleasant for anyone to be in that situation it is good that people become aware of what they spend their money on. When times are booming and big bonuses are the norm some people get carried away and spend in a carefree manner. Money is no object, new car, bigger house, extensive travel, latest technology, ‘toys’ for the kids – sound familiar? A tightening of the belt and a thorough review of expenditure can be seen as a reality check for many. Some people have budgeting under control and will have no reason to change, some will be forced to make adjustments due to a change in employment, others will carry on and hope that things just work out.
My daughter passed her test, she is very excited and I am very proud. I hope her good times continue for a while.
One thing is for sure whether you apply it to sport, business, finances or life in general - Tough times follow the good times and good times follow the tough times.
