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Recession - What To Do About It

Stock market data on LED display

The last few postings from some of our staff give you some idea of what ABS is like. Frankly, I hope their comments may inspire you to apply at ABS. We are always looking for people who want to be effective and grow with us.

The topic of this blog is less pleasant. However, it bears thinking about sooner rather than later. Let me start by saying that I not a financial advisor, nor do I claim expertise in economics; but my expectation is that winter is coming. You don’t have to take my word for it. I highly recommend that you read or view the insights of Ray Dalio, the billionaire founder of Bridgewater Associates.

Regardless of political beliefs or wishful thinking, cycles of growth and recession occur. Reduced interest rates or increased government spending may delay this progression, but a recession will occur and may even be worsened because of them. I have run successful businesses for over 30 years, and it is prudent to prepare for what appears to be a highly likely event. This is true whether it is your business or your career.

It is my belief that we may be due for a downturn within the next two years. This blog is about what ABS is doing if it does occur and some suggestions on what you might do. First and foremost, we continue to focus our efforts on providing the highest value that we can for our clients by concentrating our core value proposition and processes. Specifically, we focus on helping to make research faster, easier, and more reliable for our clients.

By helping our clients meet their goals on time, we reach our goals and sustain our business even in challenging times. Because we make it easier for our clients to focus on where they deliver the most value (i.e., R&D discovery) rather that preparing cell cultures, finding tissues, or other basic services, ABS has been relatively recession proof.

In a similar manner, in one’s career, focusing on the highest value that you can provide to those you serve, while not a guarantee, goes a long way in securing your place in an organization. In easier times, busy may be enough for someone to be thought of as adding value. In more challenging times, being effective counts much more. Those who demonstrate this are needed at any time and become even more valued when times are difficult.

The second thing that we are doing, beyond our focus on delivering significant value, is prudent for any organization or individual who may be facing a downturn in the overall economy. We are building our reserves if a downturn does occur. This enables us to weather any transient economic declines and to take advantage of opportunities as situations improve.

Lastly, don’t panic. This might be effective if a lion is chasing you, but thoughtful planning, preparation, and resilience count for far more.

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