Understanding the mentality of organisations during a recession is vital if companies want to continue to grow during an economic downturn, according to business growth pioneer Darren Bezani.
As the CEO of Salecology, he is an expert in sales, psychology and leadership, his latest book Dominate in a Downturn is being published later this year.
According to Darren, organisations enter fight, flight or freeze mode during turbulent times. Fight, let’s trade hard through this, Flight – let’s cut our losses, and Freeze – let’s wait and see what happens. In Psychological terms this is called Status Quo Bias, as they want everything to remain the same, and when companies do decide to act, it will usually be focused on shrinking rather than growing and involve cutting costs, laying off staff, and suspending all projects.
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