Tuesday 5 May 2009

Finding strength in adversity

Until a few days ago when flying pigs began to sneeze in Mexico, the world news appeared firmly in the grip of the R-word, RECESSION. The Credit Crunch was the phrase coined to describe a lack of liquidity - initially in world markets, but very quickly followed by the wallets of John Q Public.

The worst economic downturn since the great Depression - perhaps even worse!

I was roaming the Internet in my usual haphazard manner, and found that the founder of Tesco Stores in the UK, Sir Jack Cohen, had been commemorated by a Blue Plaque (famous in London as place markers of historical features). I read his story on the English Heritage website, and it struck a chord...

The roots of his success were his entrepreneurial spirit. He took his demobilisation money (all £30 of it) after he was demobilised from the Royal Flying Corps, and in 1919 acquired a market stall in Hackney and began selling surplus foods. His first day saw him make a profit of £1, from sales of £4. Very quickly he developed a successful business strategy, and the first TESCO branded product, TESCO tea appeared in 1924.
The first Tesco store was opened in North London in 1929 - the year of the great Depression. By 1939, Sir Jack had acquired 100 stores...

In their last financial statement TESCO PLC decalred annual Turnover of £51,8bn, had 3,956 stores in 14 global markets and employed 440,000 staff globally.

All because Sir Jack Cohen took £30 and instead of hiding under his matress when the world went mad, he trusted his instinct and God given ability and dared to believe in himself.

Like anything in life, we are not proven by how we handle prosperity, it is within the fire of adversity that our spirit and our worth is forged.
Right now here in London, adversity is to be seen just about on every street corner. And yet that "British Bulldog" mentality and spirit appears strangely lacking, though I cannot say why.

But like Sir Jack, I would certainly like to take my £30 out from under the matress and see how I can change my world.

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