Frosty - and I'm not talking about the weather!

Green shoots?

While we are emerging from the grip of the coldest winter conditions seen in many years, our optimism is rising with the appearance of the first signs of Spring.

Now - that could be a cheery analogy for the economic conditions facing Ireland, Britain and Europe. Signs of "green shoots" so loved by politicians, actually becoming a reality for hard-pressed businesses, families and individuals.

Winter in July

But warning signals; against that hopeful if cautiously positive outcome, we are beginning to hear an increasing number of references to the dreaded potential for a "double-dip" recession curve. In other words, things could get very much worse for all of us.

With the nervousness raised by impending British elections, currency fluctuations, market volatility and skittish global sentiment, the "double-dip" is a real possibility; though my ever-optimistic (and sometimes naively irrational) take on life leads me to think it will be narrowly avoided.

Frosty

Whatever the outcome, green shoots and Spring sunshine or double-dip and winter in July, I'm firmly of the opinion that, for the forseeable future, individual and business interests will be best served by our adoption of what I call a frosty - very frosty - approach.

"Frosty" has three dimensions, whether in work or home life - costs, cash and effort.

And despite the stark discipline required for the effective control of these dimensions, a paradox within the frosty attitude is that at the same time as cracking down, we must maintain a positive get-up-and-go upbeat aggression towards improving our personal and business situations.

The Crack Up

As F Scott Fitzgerald put it "The test of a first rate intelligence is the ability to hold two opposed ideas in mind at the same time and still retain the ability to function"

Frosty costs

If you run a business or part of a business, now is the time to have a ruthless rethink of your costs. Yes, you can negotiate harder with your suppliers without affecting your customer service. Yes, you can work with reduced resources and still deliver competitive quality to customers. Be frosty!

In your personal sphere; do not change your car, eat out less often and cheaper, book a less expensive holiday. Be frosty!

Frosty cash

Gurus tell us to crown the customer, because "the customer is King" and I suppose they can make an argument for this rather dubious concept. In the present climate of tight money there is little doubt that for most businesses and individuals cash is not only King, but Emperor, Kaiser and Tsar as well.

Conserve your cash even more parsimoniously than you think you should. Don't spend unless you have to. Be frosty!

Collect money owed to you with more energy than you ever have before. Make those calls. Be frosty!

Don't pay out money more quickly than you have to. Fight for extended credit and payment terms. Be frosty!

Frosty effort

This is one competitive advantage that is open to all. The blunt fact is that if you and your people work harder and longer than your competitors, all else being equal, you will beat them hands down.

Talk to your colleagues, talk to yourself and decide together to work harder. Be frosty!

Popularity

A frosty attitude won't win you any short-term popularity contests either at work or at home, but in the longer term your frosty actions will benefit your colleagues and family no matter whether we see green shoots in Spring or winter in July.