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Recession Myths

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In our Designer’s How To Guides we talk about excuses and myths that business development people use to justify not making the sale. Over the last few months we have heard much of the impending recession. If you a salesperson one of the most common excuses for failure is “the economy is in a slump”. Other versions of this are, “our industry is going through a slump”, or “the macro economics of our space have affected performance”. We hear these excuses all the time but there is little truth beneath them.

Why is it that Warren Buffett can consistently make money investing in companies across diverse industries even during a depression? Simple, he invests in people not sectors or trends. Smart managers consistently return results and even capitalize on competitors losses when the economy slumps. It is a red flag that your underlying strategy is broken if your business falters every time the market adjusts or slows down.

Author Richard Banfield

As CEO, Richard leads Fresh Tilled Soil’s strategic vision. He’s a mentor at TechStars and BluePrintHealth, an advisor and lecturer at the Boston Startup School, and serves on the executive committees of TEDxBoston, the AdClub’s Edge Conference, and Boston Regional Entrepreneurship Week.

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