I talk to a lot of people. I have some amazing friends, with amazing perspective. The wise ones are not afraid to talk about recession, and brainstorm ways to improve their respective place in this recession.
You are a bit scared, right? I hope so, because you should be. If you have just consumed a small fraction of reality over the past couple years, you have certainly noticed something different about people’s spending habits. Lines at restaurants are shorter, and lines at homeless shelters are longer. Let’s not sugar-coat it. Shit hit the fan and business is harder to come by these days.
One of my long time close friends is a well-informed Magna Cum Laude Princeton University graduate of economics with his MBA and a bunch of letters at the end of his name. He is a top-level economist and one that many other number-crunchers rely on to evaluate major business decisions. He is about as scared as it comes. Me, I lost squillions since recession started in 2007, and I got sick of being scared. Instead, I made a plan, and I continually work with my plan.
Improve the Future You’ve Got
This is not an uplifting “rah rah, go get ’em” sermon I am here to give you, but rather the cold hard truth of where things stand, and ideas to improve the future you’ve got. Ahh, but there is the key! If you note that I said “the future you’ve got” I mean that the future is something you already have. It is not some unrealistic thing that lives in some other dimension and never comes to pass. Time keeps marching on, and every day marks another day into your future. You do have a future, and if you are too freaked out about today, the future gets pretty blurry. In any case, your future will get here, and you are the one who makes all the tough decisions on how it will look.
I understand that it gets harder to envision your future when you are still fighting today. I have seen the future become blurred, too, but I have made a plan. I made a flexible plan, and one that can be amended as needed. I keep my eyes moving, and I always look in all directions. It is tricky and requires constant attention, but without a plan, results would be pretty bleak. Don’t you think?
If you feel like you are alone in the recession, stop feeling that way. Not just because I said “stop feeling that way”, but because you know it is true. You see it all around you. There are two divergent ideologies on the topic. One says the sky is falling and we are all doomed, and the other talks in ambiguous Wall Street phrases about improved economic indicators and tries to influence a stronger market by helping people feel safer to spend money. Reality is somewhere in the middle, and your economic reality will come from the actions you take.
Owning Your Recession
Let’s face it, you own your recession, and the sooner you realize it, the better. Sure, it has affected most of the people you know, but there are still people thriving in a bad economy, and I will give you some reasons why. It starts with making good decisions, having confidence in your decisions, and taking action on your decisions. That is a lot of decision making, and many people are more comfortable making the decision to “wait and see what happens” and to follow the same course. Getting ahead means getting uncomfortable, and if you are in business, you must understand that fear affects success in more than logic.
I can own up to my recession, although it is not all my doing. I still know that my decisions have everything to do with where I am and where I go from here. I will give you an example. In 2007 and 2008 I watched some huge suppliers to my company kill thousands of jobs and shut down some of their operations. One of my suppliers of network services laid off 5,000 people in a single day. I knew my industry very well, and I knew in advance that I should have sold off or severely downsized one division of my company. Instead, I wanted to be a hero to my clients, so I took a “wait and see” approach. It was not long before the “wait and see” kicked me squarely in the ass.
You will not catch me seeking sympathy, but I saw my corporation’s annual accounts receivable drop by over half a million dollars in a single month during 2008. As the CEO, I knew that it would eventually hit my personal economy pretty hard, so I made sacrifices. I cleared out $250,000 worth of cars from my garage, I suspended a six figure per year auto racing budget, I downsized my home by over 3,000 fewer square feet, and I worked harder and for less money than I had in many years. It made sense to cut certain things that I did not require, and it made sense to kick myself back into gear. I made many sacrifices!
Making the Right Sacrifices
I write a lot to help people regain vision for their business and personal lives. In fact, I wrote three books last year and a whole lot of blogs. You surely cannot knock me for dedication. So much of what I write is aimed at helping others to grow their market and regain the market they once enjoyed. I know I make some people very uncomfortable, and I am pleased for that. If you are comfortable with how things are, you have less reason to do something brilliant. On the other hand, if you get sick of being scared, like I did, maybe you will come to make the right choices to build upon your own economy.
Maybe you never read any of my biographies or ever heard of me before, but from the time I dropped out of school at age 15, I have built multiple very successful companies. Something I have learned well is the value of sacrificing unnecessary comforts today in return for a better tomorrow. Sure, you can say that tomorrow never comes and that you should seize the day, but isn’t that the same thing your credit card issuers count on? If you work harder, try harder, create a solid strategy, and do more for your future, you are the one who collects the interest.
The Wrong Sacrifice
I could bang my drum and toot my horn all day and night, and you can still call it all “bullshit”. I can give you good ideas and direction, but you can still call me crazy. A lot of good thinking has been called crazy. Christopher Columbus was “crazy” for saying the world is round, and Albert Einstein said “Great spirits have always encountered violent opposition from mediocre minds.”
Crazy is relative to your own sense of reality. I was crazy to leave school at 15, but less crazy as I earned millions by 25. Something which cannot be denied and is based on solid math is that effective marketing will grow a business. Effective marketing can get you the job you want. Effective marketing and reaching the right people with the right message is what creates opportunities, from meeting the right spouse to becoming the head of a political party. So how can you possibly abuse and neglect your marketing when it is the one quantifiable thing which can lead you to your goals?
If you want a better economy for yourself, do something different. As I have said before, “Do Shit They Will Remember” and note that sometimes you must “Choose Logic Over Emotion“.
If you want more, market more, and market better. Of all the sacrifices I ever made in business, marketing has never been in the list. It has always been the one thing that mattered most. Recession is actually the best time to market your goods, because your competition is running scared, too.
I wrote of sacrifices I made to create millions of dollars in business from my 6th grade education (I left at 15, but I failed a few times first) in my book “Living in the Storm“. This is not my evil plot to shake you down for the huge $2 royalty I make per book, but if you have a hard time understanding the sacrifices it takes to grow a business, you should consider reading it.
Accepting your own recession and doing more to improve it does not mean everything will be amazing again. However, if you are not doing more to market yourself or your business, you are accepting what you have and that will become less as others keep moving forward.
Photo credit to Eric Pouhier via Wikipedia
