“Because this recession is so severe, and because of the unique way in which it happened, we can be sure that it will change the world in several big, long-lasting ways.”

- Geoff Colvin, Fortune’s Senior Editor at Large from his new book The Upside of the Downturn

You open your eyes.

You’re lying on your back in a field.

For a moment you think - how nice. Then you realize - you weren’t here a minute ago. You feel pain at the back of your head.

You look around. Cars are overturned, trees are ripped from their roots. Roofs are ripped off the houses that are still standing.

The area has been hit by a tornado.

You try to remember the past 10 minutes. You were minding your own business sitting out front of a café having a coffee. You remember the sirens going off. But, just like the last time, it was too late, the storm seemed to come out of nowhere.

You wonder to yourself - did everyone get caught off guard? Did anyone see it coming? Was anyone prepared?

The past 18 months have been as though the business community was trying to pick itself back up from being hit by a metaphorical tornado.

Many organizations were battered beyond repair, and faded into history, while others are still recovering. Many others however were prepared.

The Fact is - while the news has been dominated by the number of organizations and banks that have failed, the truth remains, many haven’t.

The Problem is - For those companies that weren’t prepared for the downturn ahead of time, there is only one chance to rebound - now.

The Outcome is - A huge number of companies have to make several tough choices about whether they ever want to fold, or succeed in the coming months.

The Solution is - to understand what’s broken, what works, what can be changed, and what is needed to thrive in today’s radically changed business world.

Are we too late?

The easy answer, hopefully not. This was not the first recession in history, nor will it be the last. The key is to understand what vulnerabilities within your organization led you to be sucked down into the mess, and address them once and for all.

Knowing all the while that the recession has lasted for over 18 months, and your people are tired, scared, and unsure of the future of the organization. As a leader, it is your chance to rise from the ashes, and get the organization back on track.

What’s the Plan?

In The Upside of the Downturn, author Geoff Colvin outlines a number of strategies on how companies can move forward. The key to success all depends on how you, and your organization, view the downturn. In Colvin’s opinion, the key is to see it as an opportunity.

Small companies will see their Goliath-like competitors off balance and strike hard.

Tired old companies can have a rebirth, and chart a brave new course.

History shows that great organizations often rise from challenges, while all those around them are waiting for the storm to pass.

Don’t Wait for the Siren

History will repeat itself. There will be another recession. It will likely be in our lifetime. Now is the time to prepare for it. Just to be clear, preparation for a crisis is not about stockpiling canned goods, nor is it about being risk averse. Your organization can survive, and even thrive in the “next” downturn, or any challenge you may face if it builds a nimble, flexible, and challenge oriented culture.

If you embed the competencies required to overcome challenges into your culture, you can rest assured that you will go into the challenge with a group of calm, prepared, and optimistic employees determined to get to the other side. You’ll know you’re ready when the warning siren strikes fear into your competitors, while your employees rise up to succeed.

In Our Opinion
The Beacon Group’s Keys to Riding the Upswing

Quick screen - Figure out what matters now. Eliminate everything that doesn’t help strengthen your most important elements. Don’t debate endlessly. You can probably think of a handful of things off the top of your head.

Be Bold - Now is a great time to go big. While you may be successful by moving incrementally, there is a chance of being leapfrogged by your competitors. If you have a game changer in your back pocket, now is the time to use it.

Stay Alert - Challenges are becoming a near daily occurrence. Resting on your laurels is no longer an option. Great leaders know how to keep their employee’s eyes on the horizon, constantly looking for a roadblock to blast through.