What's the one thing that the last three UK recessions all had in common – that we should all be aware of?

Having worked through three recessions I know the pain, frustration, loss and so much more that a recession can bring.

However, as I researched the recessions we have experienced in the UK since 1980 I noticed that they all had one thing in common.

It is important that we know about this so that we are not caught out. We need to be aware of it and prepare accordingly as we enter another recession.

First let us look at each of them, to see what they had in common.

1980 Recession.

Start date and GDP reduction.

1980 Q1: -1.7%

1980 Q2: -2%

1980 Q3: -0.2%

1980 Q4 -1%

1981 Q1: -0.3%

Now let us look at the figures for the next recession.

1990 Recession.

Start date and GDP reduction.

1990 Q3: -1.1%

1990 Q4: -0.4%

1991 Q1: -0.3%

1991 Q2 -0.2%

1991 Q3: -0.3%

Now let us look at the figures for the next recession.

2009 Recession.

2008 Q2: -0.2%

2008 Q3: -1.7%

2008 Q4: -2.2%

2009 Q1: -1.8%

2009 Q2: -0.3%

As we know a recession is recognised by two quarters of negative growth. As you can see from the about figures is that the one thing that they all had in common was that they all lasted for five quarters - 15 months

So, what can we learn from this as we enter another recession?

If history is telling us something it is to prepare for the long haul.

As a Business Growth Consultant, I am letting all my clients know of my findings, so that they prepare accordingly.

Do not think that this will be over within 6-9 months. Strategically plan, review your existing business plan, make the necessary reductions on outgoings but also innovate, innovate, and innovate.

Having worked through 3 recessions before I know that strategic planning, innovation and upgrading your customer centric experience is paramount to successfully coming through a recession.

Unfortunately, there will always be casualties with a recession it is not easy at all. I know this.

Questions to consider:

What does your strategic recession plan look like? (SRP)

What bold steps do you need to take now to secure the future of your company?

What could stop you in taking those steps?

Where is your business haemorrhaging the most when it comes to cashflow?

How will you prepare for the next 15 months?

Where and how will you innovate?

How will you look to develop your customer centric experience?

How will you look to maintain a healthy profit margin from a lower number of customers?

These and other strategic questions are part of the process I use with my clients as I help them with their future success.

Do not forget I am only highlighting here the technical period of the recessions (5 quarters) not the impact that was felt thereafter.

Now is such an important time to review your strategic business plan. 

Here is a link to a paper I prepared on ‘What to consider when developing a strategic business plan’ https://keepthinkingbig.com/white-papers/business-strategy-whitepaper/

Many others have found it helpful – and I hope you will find it useful as you build your – Strategic Recession Plan. (SRP)

Recent recommendations on Linkedin.

Teresa Payne, Partner at Parfitt Cresswell Solicitors.

As we continue with our strategy to build Parfitt Cresswell, we wanted to employ an experienced successful business development coach and trainer, who could help us in developing our team and business and help us accelerate our growth and move on to the next level. 

We therefore asked Tony Lynch from Keep Thinking Big, to work with some of our team, which resulted in higher conversion rates, increased fees, developing teams and talents within the business. 

His personal approach had a great impact upon the team and helped them gain clarity on their aspirations and goals and how that fitted into the overall growth of the business. 

I personally have benefitted from his insights and experience gaining clarity and focus on our vision for the future. 

If you are looking at taking your company forward to the next level, I would highly recommend Tony Lynch. As a business development coach he has the experience to deliver a strategy that will help to increase your productivity, performance and profitability and ultimately reach your end goal. 

Sarah Butcher - Senior Membership Manager for The Surrey Chamber of Commerce.

I have had the privilege of experiencing Tony’s training sessions first hand. The first of which was a Surrey Chambers of Commerce training event for local businesses where Tony engaged with delegates in an enthusiastic and inclusive manner, providing techniques and top tips on a variety of business related issues for delegates to take away and implement within their own business, the feedback we received was excellent.

Tony also delivered an informative TEDTalk in Woking, his enthusiasm and passion for the work he does is evident in his performance and delivery. 

If you are a Surrey based business looking to increase your performance, productivity and profitability through an exceptional Business Development Coach and Trainer then I would urge you to contact Tony to discuss your requirements. 

Stephanie Holcombe - Director of Events for The John Maxwell Company and EQUIP Leadership, Inc.

Tony and I have worked together professionally for the past 4 years. Whether speaking from stage, hosting calls or bringing teams together, Tony has a keen insight into taking content and making it relevant for the audience at hand. He works to understand his audience and develop key topics that will help them grow in their respective businesses.

Tony possesses an extraordinary passion to help others grow their businesses, where through his experience he brings strategic insight to the table, combined with a process to close the gap between expectations and results. If you are looking for someone to help you find ways to increase performance, productivity and profitability within your business, I would highly recommend connecting with Tony.

Tony Lynch is a Business Growth Consultant, Coach and Trainer. He helps business leaders develop strategic plans, closing the gap between expectations and results, with a process for greater effectiveness, team engagement, performance, productivity and profitability.

Tony is a regular speaker at events as well as being a TEDx speaker. He was also featured in Inc in the '100 Great Leadership Speakers for Your Next Conference'.

Tony Lynch

Keep Thinking Big

22-25 Farringdon Street,

London. EC4A 4AB

T: 0203 195 2905.

E: [email protected]

W: www.keepthinkingbig.com

L: www.dhirubhai.net/in/tonylynch1