We should all have some shovel-ready projects on deck for when things pick up. Yours could be a plan to make a hire, or to open a new business. It could be a new marketing push, or a new service offering. It could be all of these things.
Just have it ready to go. You will know when the time is right. We all know that procrastination is easy – “when things get better I will figure out what to do” you say – but procrastination is a false friend. And having something exciting to plot will make these dreary weeks pass in a flash. And as I just heard from the dean of NYs Angel Investor community at a NY:MIEG event, “right now it is infinitely cheaper to start a new company.”
We are unlikely to leap from the recession straight into a boom, so when credit and spending do start, there will be intense competition. So be there and be ready, with your metaphorical shovel in your hand.