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Served as a United States President from 1881-1885, Chester Arthur, will never be regarded as one of the great leaders. He served after President Garfield was assassinated. Though possessing the basic qualities of a great leader, he was never called upon to step up during his reign. Many Americans would be hard pressed to identify him as one of the US presidents.

During tough times, is when great leaders show their capabilities. Plenty of legendary leaders show what they’ve got during catastrophic situations. Acting aggressively and boldly, they manage to threw conventional wisdom and develop their own playbooks on the spot.

Same with the entrepreneurs, it is the time to step up as leaders of your very own enterprises. Extremely difficult economic times may come but it is your time to shine and show what you can do.

Trying to live up to this leadership ideal maybe difficult, but as you follow these steps you can do it as simple as ABC.

First, ask your coworkers to look at your expenses and figure out where you can cut. This process is crucial but they need to understand that it is a time for sacrifice.

Second, look for new opportunities in times of economic problems for the reason that it is also the time when the new trends and market would arise.

Third, enhance customer service to make sure people do not slip away.

Last, do more marketing because marketing efforts stand a better chance of getting notice by potential consumers during the though times. Many enterprises stop or cut down their marketing or advertising during the though times, so chances are -when you go advertising- people will notice your product or service than that of your competitors.

Bottom line: Transform depressing times into an opportunity of a lifetime, it will test your skills as a great leader. Chester Arthur would have enjoyed the opportunity