Everyday we hear of another business closing their doors. The smaller ones have little affect on the economy, but the big ones have a huge affect on it. They all have suppliers, a work force, and customers that depend on them. When a business closes, it has a direct affect on everyone. The suppliers lose their customer and sales of goods or services. The workforce loses their jobs in most cases, and the customers lose their supplier to them.
The ripple effect can also last a long time in communities. Some longer than others. What I have found with most communities is that they are very resilient. They can most times bounce back and come up with another source of industry and jobs. Those who don’t, typically lose their population to another area over time.
When a closure happens, the spin off business usually feels the effect very quickly. The employee doesn’t have the disposable income to spend at another local business, therefor doesn’t spend. They save it for something more important to them such as a mortgage, groceries, or just surviving. Maybe they move completely out of the community altogether for other opportunities.
As we know the news media doesn’t always report the right facts. This can cause another ripple effect in a community. The facts are sometimes distorted. This can confuse people into what is really happening and how it affects everyone. When something like this happens and people are misinformed, it can cause another ripple affect. People panic or jump to conclusion which may or may not be true. This causes people to react in ways that they wouldn’t normally act. Almost in desperation, if you will.
The ripple affect also influences relationships as well. Imagine possibly being told that you may be losing your job because the business is closing. The stress that goes along with that can be enormous. You go home to tell your partner what has happened. Money is the number one thing couples argue about. So, receiving news like this can have a devastating effect on a relationship.
We as humans see this kind of news as negative. Most people will go to the negative first. It doesn’t have to be that way. We must train ourselves to be positive. It just doesn’t happen. We need to look at things as teaching moments. What can you learn from this experience? How can I turn this negative into a positive? There is always a way.
Always give yourself 24 hours to absorb the news before doing anything. This works with anything in life. When you first hear bad news, your emotions get attached to it and therefor your brain fragments. When this happens, you can’t think clearly or come up with a rational plan to move forward. By giving yourself the 24 hours, you give your emotions time to detach from the news. This will help you make rational decisions about your next move.