A word you hear bandied around a lot these days is "Recesssion."
A recession, or slowdown in the economy, is part of a natural economic cycle. Things go up, things go down. There are good times economically and not so good times.
No big deal.
I saw a pretty interesting piece on "60 Minutes" last night about the sub-prime mortgage crises. Apparently a lot of greedy mortgage bankers got together with a bunch of irresponsible people and made a big mess of things. Nothing new, really.
Is a recession real?
In a way, yes, the economy is experiencing a bout of flu. But like the flu, it will eventually pass with minimal side effects. If you look at it like that, no problem. You take some precautions, but you don't lapse into hopelessness and despair.
The thing is, words are powerful and sometimes dangerous.
Certain words trigger certain feelings. We hear the word recession in the media over and over, and each time it triggers a little fear, a little uncertainty. Before you know it, many people are making the recession a self-fulfilling prophecy.
There's nothing you or I can really do about this.
Economic fluctuations happen on a very large scale. We don't have control over the media. And we don't have a say in the workings of the federal reserve. We also can't control what other people say or do.
But that doesn't make it hopeless. Far from it.
You can treat this like a wake up call. You, personally, can make a difference for you, your family and business. You can choose what you think and do. You can take creative action.
Part of this is taking control of your marketing.
You can't leave it to chance anymore. Those who practice proven marketing strategies will attract more business than those who don't - especially when times are tight. But you need to choose information you can easily apply to your business.
I've created the following chart to make it easier for you. It will enable you to pick the marketing information that you need most right now that will work for your business. You can't use all this information at once, but one bite at a time.
I've divided it into seven categories.
Marketing Foundation - The most essential information you need to be a better marketer and attract clients consistently.Get Focused - Information to help you zero in on your ideal prospects and stay organized and on track.
Relationship Building - Information to help you communicate your message and connect with your prospects.
Present Yourself - Information on how to increase credibility through presenting your message powerfully.
Online Presence - Information on leveraging the Internet to give you access to more people and networks.
High Performance - Information on taking your business to a higher level of performance and the rewards that brings.
Selling Skills - Information on turning qualified prospects into paying clients.
Just ask yourself which information you need right now and we have several resources and in-depth information on each to help you choose. Take a look
The More Clients Bottom Line: Don't let yourself be dragged down by talk of a recession. You can use this time as an opportunity to improve your marketing skills and sharpen your competitive advantage. Now is the time to apply proven marketing principles to attract more clients.
What mindset do you adopt when everyone's talking about a recession? Do you get dragged down or do you see it as an opportunity? Please share on the More Clients Blog.
Recessions and Downturns have never had anything to do with the success or income of my business.
Service Businesses cater to the Few rather than the Many. There simply isn't time to serve everyone when what you are selling is your time.
The Few will always have a way to find the money to recieve the highest quality service available. That's where one's focus needs to be.
Continual improvement that not only makes you the very best at the kind of service you provide, but so FAR superior that there is simply no comparison anywhere in your region.
Raise the bar again and again for yourself and your business, and your fears of charging too much fade away.
If you love and are simply passionate about what you do, dedication to improvment is the most natural thing in the world. It's fun, enthralling, continually creative and engaging.
Self Employment is the most enjoyable work possible if your motivation is to make a real difference in the raising the bar for your entire industry.
And so what if others then copy your best, raise their prices, compete with your ideas? You just keep raising the bar! Talk about never ending fun! This is IT!
Catherine Trestrail, ACSW, CDP
A Positive Alternative
to AA or 12-Step Based Treatment Programs
Posted by: Catherine Trestrail | February 17, 2008 at 01:42 PM
Greg wrote:
>>What about the person who is seeing their adjustable rate mortgage adjust up by 50% a month and can't afford the new payment?
Is that just in their head? Should they enjoy that?>What about all the mortgage brokers and realtors who, in the sway of larger forces they don't understand, will lose their jobs and have to find new work?>A positive attitude and the will to make the best of situations is always the right approach. But to say that reality simply is our attitude and thoughts is a child's fantasy.<<
Reality is never our thoughts; reality is what is. How we react to it determines whether a recession is going to feel like a crisis or an opportunity. "Crisis" is a child's fantasy. A recession lasts as long as it does; my thinking about recession is what potentially can ruin my life. "There is nothing good or bad but thinking makes it so." —Shakespeare.
Carol L. Skolnick
Certified Facilitator of The Work of Byron Katie
http://www.clearlifesolutions.com
Posted by: Carol L. Skolnick, Clear Life Solutions | February 05, 2008 at 10:36 AM
"Recessions are only in your head."
"Enjoy the recession!"
What about the person who is seeing their adjustable rate mortgage adjust up by 50% a month and can't afford the new payment?
Is that just in their head? Should they enjoy that?
What about all the mortgage brokers and realtors who, in the sway of larger forces they don't understand, will lose their jobs and have to find new work?
A positive attitude and the will to make the best of situations is always the right approach. But to say that reality simply is our attitude and thoughts is a child's fantasy.
Posted by: Greg Feirman | February 02, 2008 at 06:16 PM
Great article. The recession in the 80s was a wonderful thing for me. It got me to break out of what was then a straight-jacket life and dare to leave everything behind. Today I am a composer of Ancient Healing and Transformational Music which helps people to relax and remain focused, even when surrounding environments are chaotic. You can hear the music at www.voicesofeden.com.
Today, I live peacefully in Nortern Israel, YES, in Northern Israel, and my finances are growing as I type.
Reading this blog is the first time that I have read that word in years. Everything is relative.
I too, am an avid user of The Work of Byron Katie and agree with Carol that it works wonders on turning your thinking around.
Posted by: Eliana Gilad - Voices of Eden | January 29, 2008 at 11:48 AM
Markets fluctuate; and minds fluctuate right along with them. No one can accurately predict what's going to happen in any given economy, in part because we simply don't have all the information, and in larger part because we are not in control!
One thing you can do is to question your stressful beliefs about what is happening in the economy, in your working life, and in your life in general. "Reality is always kinder than the story we tell about it," says my mentor, Byron Katie.
Her self-inquiry proces, The Work, is a way to identify and question the thoughts that cause all of the suffering in the world. You can learn more about it here: http://www.clearlifesolutions.com
What is the worst that could happen if you lost everything? If you question those thoughts, you may come to see that the worst that could happen is already happening, in your mind.
What is the best that could happen if you lost everything? We've seen several examples in these very posts: you get a fresh start, a clean slate; that's exciting. (It's happened to me several times in my 50 years, and will likely happen again. Something to look forward to.) You get to bust your old paradigms and test new, more fun ones that might work better than the "tried and true" which turned out to be not so true. You get to see what you are really made of, put your creativity and smarts to the test. As you continue to inquire, your mind opens and you see that there are infinite possibilities in what I like to call "a parallel universe of peace."
Enjoy the recession! (The root word is "recess;" remember how we looooved recess at school? What would keep us from loving it now?)
Carol L. Skolnick, Clear Life Solutions
Certified Facilitator of The Work of Byron Katie
http://www.clearlifesolutions.com
Blog: http://soulsurgery.blogspot.com
Posted by: Carol L. Skolnick, Clear Life Solutions | January 29, 2008 at 11:38 AM
All I know is that my personal finances have always improved during recessions and I've lived through as many as Lyle. Don't know if it's my contrary nature or what, but recessions work for me.
Susan Fuller
"How to Survive Your Grief"
http://www.surviveyourgrief.com
Posted by: Susan Fuller | January 29, 2008 at 10:33 AM
Like Lyle, I've lived through several recessions and was laid off at least 4 times.
There are always opportunities. Always. Good things about recessions:
1. They force you to decide what you really want. The dot com bust forced me to decide not to pursue technical writing as a career and to become a guerrilla marketing consultant, where my heart was.
2. You get good or you get out. Recessions weed out businesses that don't add value to their customers and the ones who are in it for the quick buck.
3. Recessions are reminders to build reserves. To save money and build goodwill. If you have money, now is a great time to buy property.
Last point, the media thrives on fear. It always has. I can't stop 60-minutes or The Denver Post or my own little neighborhood paper. I have to let my actions speak for themselves. In the end that's what matters anyway.
Great article.
Judy Murdoch
Guerrilla Marketing Consultant
http://www.judymurdoch.com
Posted by: Judy Murdoch | January 29, 2008 at 08:15 AM
Your comments are so very true. You wrote it almost word for word as I have been saying it to others. Housing and the economy have cycled up and down my entire life...regardless of which political party is in office.
Posted by: David | January 29, 2008 at 06:32 AM
Great article, Robert!
Please note that the "See Info Here" link is not working.
Posted by: Jocelyn | January 29, 2008 at 04:13 AM
The problem is that people believe the media.
And, then Recession becomes a self-fulfilling prophecy.
I've been working for 37 years, been through 5 recessions, and several corporate down-sizing.... recessions are only in your head.
I just ignore the media. I keep plugging away on my plan.
Eventually, me and all the other people who don't believe in recessions... turn the economy around.
Lyle
The Unsticking(TM)Coach
Posted by: Lyle T. Lachmuth - The Unsticking Coach | January 29, 2008 at 04:00 AM