Once there was a successful real estate agent. His thriving business focused on selling homes to the affluent. It afforded him the opportunity to buy his own magnificent home and all the toys that go with it.

Then the market crashed.

His business failed as high-end homes no longer sold. He couldn’t pay his own mortgage. He went bankrupt. And he spent the better part of a year buried in self-pity.

Then, he reached out and hired a coach. The coach began to challenge his thinking and his mindset. As a result, despite the down economy, he began to rebuild his business. He began to do well again.

The coach challenged his mindset and pointed out ways his thinking had limited his perspective on possibilities. His narrow view was that he sold homes and the market crashed. What could he do?

The coach reminded him that many of his affluent clients were in exactly the same situation. Many desperately needed to downsize. He understood that journey completely. He could empathize. So, he discovered that he could help get them out of the homes they could no longer afford and into affordable homes.

I like this story because it helps illustrate that we don’t have to be victims of circumstance. Difficult times happen. As I write this, the stock market is tanking. Government doesn’t know how to pay for itself. Oil prices (in an oil-rich state) are pennies to the dollar compared to what they once were. These circumstances create fear and uncertainty. And, these circumstances cause most people to be increasingly cautious.

However, this is a great time to push forward.

When I worked in disaster relief I observed that, regardless of political or economic circumstances, some people figure out how to benefit. When I worked in Kosovo, rebuilding communities after the war, the unemployment rate was nearly 90%. Meanwhile, a slow and steady trickle of Chinese entrepreneurs started moving in. They set up small shops. Sometimes just booths on the side of the road; but, they were successful and slowly grew. They built while others were cautious and waited.

In down times, push forward.

Six Tips to Flourish in a Down Economy:

Tip 1: Reevaluate Your Model: A change in the economy may mean what you’ve built no longer serves the needs of the market. Or, it might mean it no longer serves in the way customers want. For example: people will keep paying to watch movies in the foreseeable future; but Blockbuster was unable or unwilling to shift its model quickly enough. Another example: people will continue to buy and repair high-tech equipment; however, Radio Shack managed to avoid selling or repairing what people most wanted.

Most churches have experienced a steady year-after-year decline in attendance and membership over the last 15-20 years. Most refuse to meaningfully examine or change their model. Instead of focusing on how to meet the spiritual or physical needs of the surrounding community, they remain intent on selling the “Sunday Service”. Their perseverance is commendable; but it’s called stubbornness when headed the wrong direction.

Tip 2: Diversify The Where or The Who: Particularly with the Internet, it’s easier than ever to reach new audiences. What do you offer that may be of value to someone you haven’t previously tried to reach? Sometimes, this can be as simple as shifting where you advertise. I direct an organization called the Conflict Resolution Center. We found that print and radio advertising was a good way to spend money, but generated no business. However, advertising on-line has connected us to our target audience.

Tip 3: Diversify Your Revenues: Some of us have “all our eggs in one basket”. We shouldn’t create confusion regarding our core business; however, sometimes we need to take a look at what we’re offering and what we could additionally offer. Can we add a service to a product? Is there a product that we can sell that supports a service we already offer? If you’re non-profit, is there something you do that people would be willing to pay for? Chances are high there is.

Tip 4: Spend Time with People who are Doing Well: During the “Great Recession” I was struck by how the general media and public radio tended to focus singularly on negative stories related to the economy. However, a number of business publications kept highlighting new enterprises that were thriving. This first set of media stories would bring discouragement. The second set motivated me to move forward and inspired new ideas. Spend your time with people who are doing well. Surround yourself with people who find and engage opportunity.

Tip 5: Stop Spending Time with Resource Suckers: Some clients, staff and “friends” regularly take more than they give. While everyone experiences seasons of need and receiving support, some make a lifestyle of it. There are some people who never intend to “stand on their own feet,” but they’re happy to take whatever you have and prevent you from serving someone who will. Drop high maintenance clients. Address staff who don’t provide value. Don’t spend discretionary time with people who only take from you.

Tip 6: Get Busy: Some organizations, after years of “the way we’ve always done it” success, discover a cruising point. They don’t have to hustle like they did when they were starting out. These organizations, when the economy dips, need to get busy again. This might mean working more hours. Or, it might mean a greater focus on the work itself. It might mean searching for efficiencies. It’s not a time to overreact and cut; but, a down economy is not the right time to coast and remain status quo.

Times of economic uncertainty, and even crisis, can be difficult. However, we don’t have to be drawn along by the current. Figure out what changes can be made. And discover what new opportunities exist to bring value to others. We can choose to thrive.