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A Spending Freeze

I have heard nine corporate leaders tell me they are in a “spending freeze” during the last quarter.  In other words, due to the fledging economy, they are putting everything on “hold” until things start looking better.

I am a leader and I understand this mindset. Our organization, Growing Leaders, has felt the impact of an economy in a downturn. The easiest response in the world is to play defense and cease taking any risks. After all, now is the time to hold on to what you’ve got. Resources are scarce.

Recently however it dawned on me that this is the antithesis of how exceptional leaders see things.  Lasting leaders recognize that because of the tough economy, this is the time to be highlighting what you do best. This is the time to be moving forward in the area of your strengths and your purpose. Now is the time customers, partners, clients and onlookers need to see you operating in your sweet spot and taking new ground. The last thing you want to do is to be playing it safe…like everyone else.

Consider this truth. Leadership rises based on providing the scarcest resource. If you have something that is scarce—something that others rarely see—you need to hold it out for the world to see. Offer it up as a service to those who need it. When you have something that others need, and they cant find it anywhere else, you have influence. You are positioned well. Others will have incentive to partner with you.

At Growing Leaders, we recognized this reality. We chose to respond to the economy by saying: This is a wake up call to force us to be innovative. To get back to what we do best. We went to the drawing board and began creating. As a result, we plan to provide three new offerings to our partners this fall. We’re about to enter the most exciting days of our organization’s existence…in a bad economy.

Perhaps now is the time to spend. Or, better yet, invest. Sink your time, money and effort into what you do best. That scarce resource you have in your hand. If every leader did this—who knows? We might just emerge out of this economical freeze.

Tim

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A Spending Freeze