SOLACE

Wisdom I’m starting to think, is just experience. It’s knowing what to do simply because you’ve stared into the void before. Just over 10 years ago the Global Financial Crisis happened, and not a day goes by without some reminder of it. As our economy slides into another recession, it feels familiar because……. we’ve been here before. 

In the year before the GFC, with great optimism, I accepted an invitation to start an Arch Viz studio. We had some early wins and were expanding quickly. Then, still in the fledgling days, the GFC happened. Despite the global forces at play, we struggled through. But the scars of uncertainty and pessimism lingered for years emotionally, as much as financially. I’m sure we weren’t alone. 

Fortunately we only had a couple of staff and were able to weather those scary months without any revenue, but the losses were hard to make back. Now in 2019, times seem just as uncertain. And there’s nothing like uncertainty to inspire anxiety and make the worry endless. The economic data is anaemic, the property market has fallen by at least 10% and overall global macro sentiment is worsening amid trade tensions and geopolitical concerns. But here, with the benefit of hindsight, I thought I’d share a little on how I got by and eventually recovered.

When the revenue ran dry and what money we had left was running out, it was so hard to be optimistic. No-one knew when the projects would pickup again, or why they stopped in the first place. With young families to feed, we had to keep going. As a team of three, I did the only thing I could think of…make it up. 

Over the weeks I sat, day after day, designing small architectural projects, mainly houses, and proceeded to be the client for my team. Sharing the vision with my team, we toiled away, modelling and styling and animating projects that were never going to exist. Simply because we could. 

We tried new tools and probably more than anything, kept busy. Eventually we had an entirely new animation showreel, forming the basis of our pitch to new clients. Not only did this form a new foundation, but as the economy started to pick up again, led to a range of new clients. Eventually growing the team to twelve. 

Despite these troubled times, there can be a silver lining. If things start to slow down and work begins to dry up, whether you’re a studio or a freelancer, artist or architect, there is hope. Your creativity is your best defence against economic adversity. 

You will have many ideas floating around your mind. Having worked on projects for others, you’ll have inspiration and reference to make up enough to put something together. These days, we have access to incredible technology, why not challenge yourself to bring those ideas to life and use that as an opportunity to engage clients? Rather relying only on your past work, why not show them what’s possible in the future. Do all the things that a client wouldn’t normally let you do.

If the numbers are easing, it’s easy to despair. But you have so much to offer, and working hard (as you do), is the thing you can control. The market is going to ebb and flow. I certainly learned that the hard way, as will you. The secret is cutting costs as best you can and double down. Learn new skills, and be bold. 

Invent projects and design concepts that inspire you and showcase your talents. You need clients for revenue, yes, but you don’t need them to build a portfolio, so use your ‘down time’ to your advantage. Use reference and make it up. The portfolio I was able to build in the downtime have carried me forward from that business and furthered my career. Plus, that creative outlet has become an important part of my personal journey and a refuge during my times of worry. With creative freedom, I was able to build a great team of people and a great portfolio, even when times were tough. If things get rough, fill the void, dig into your creativity and be twice as good on the upside.

“Buy when there’s blood in the streets, even if the blood is your own.” Baron Rothschild