When the going gets tough the tough get going….

A tough client brings out the best in you, said someone. And so does a tough situation like the tough market as we have witnessed over the past year and more. The year gone by has brought a deeper, more visceral understanding to phrases and terms learnt during my MBA and subsequent working years. And then it has brought with it, fragments of understanding that add up to a bigger learning than probably any other.
What can you do when the market does not want your services?
I remember for instance how the severe downturn the auto components industry faced in the `90s served as the foundation for its later success. As the local market dried up, suppliers like Bharat Forge and others tried to sell their wares to international players. To be able to get a piece of that huge market they needed to upgrade their quality. As there was no easy way out, all of them worked to manufacture global quality parts. Today India has a very healthy share of this market.
I learnt two things here- one, look what the market yet wants or needs to have despite cost-cutting and provide it; and two, don’t let your communication and connection with clients or potential ones break down. In short, DON’T STOP.
I learnt this year to look at the retail market and also expand my services into the language product sector. It earned me my bread and butter. And now, as the market opens up, I have a slew of new products in this area when until recently I did not even know of the huge, latent demand in this segment. This year I hope I will be able to earn a bit of jam and ham too.
I have learnt that truly, as Franklin Roosevelt said, “The only thing we have to fear is fear itself.” Life does turn around. If there are downs there have to be ups. It’s just about being ready and waiting when the door of opportunity opens up again.