It pays to bet in recessions
Through 26 years of leading Increo, I have navigated through several financial crises and recessions. A common denominator in these periods is clear: It is during these times that you should really bet!
Recessions can be a unique opportunity to invest in initiatives that deliver long-term growth. As the founder of a technology and design agency, I have seen time and time again that it pays to focus on innovation, develop technical solutions that increase attractiveness, and improve customer user experience.
Increo has taken its chances during every known crisis, and every single time we have come out stronger on the other side. When we have faced challenges that we ourselves have created through wrong decisions, it has been harder to find the confidence to make a bet. But when faced with external factors such as fluctuations in business cycles, investing has always been an easy choice. My advice is simple: Give gas! And focus especially on measures that strengthen your market position.
When the dotcom crisis raged and the situation seemed bleak, we chose to bet big on innovation in the technological solution for selling domain names. This led to an increase in turnover by 360% from 2000 to 2001, and also created a source of income in the form of annual revenues that we still have today.
During the financial crisis of 2008, we came out with 40% higher turnover, after investing massively in marketing.
And in 2020, as the COVID-19 pandemic raged, we had the opportunity to finalize negotiations that had been going on for a long time to purchase Imbera. This enabled us to establish ourselves in a stronger way in Oslo than before.
Crises come and go, but the opportunities for growth and success are always present. “Remember, it pays to bet in recessions!”
