How to Thrive Through This Recession, Jack Canfield Style
We're hearing a lot about the economy lately. In fact, just this week, Alan Greenspan actually said "the r word" by announcing that the United States is in a recession. Our last recession, from 2001-2003, was due to the collapse of the dot-com bubble, the September 11th attacks, and accounting scandals such as Enron. There were also recessions in the early 1990s and early 1980s.
In fact, for the last 30 years, the U.S. has gone through a recession once every decade. There's no indication that this will change in the future. Burying your head in the sand will certainly spell disaster for your business. Gritting your teeth to weather the storm will only increase your blood pressure and keep you up at night.
The good news is that a recession is not a depression. It's unlikely that we will ever go through something like the Great Depression again. However, it's quite possible that this will not be our last recession. To be successful, you need to become informed about what a recession is and what steps you can take to thrive in the midst of one.
What is a Recession, and What Can You Do about it?
A recession is a period of temporary economic decline during which trade and industrial activity are reduced. It is identified by a decline in a country's gross domestic product (GDP), or negative economic growth, for two or more successive quarters. In short, a recession means a steady, prolonged decline in sales.
As a small business owner, you've experienced a decline in sales before. It's a normal part of any sales cycle. Question is: When you've had a drop in sales in the past, what did you do? Did you just wait, hoping for things to get better? Or, did you take decisive action to nip things in the bud and turn things around? If you are a successful small business owner ' someone intent on creating a constant and steadily increasing cash flow ' then you know the importance of taking informed, resolute action.
Jack Canfield, too, knows about decisive action. He's famous for his rags-to-riches story of how he committed to contacting five people a day to promote his book, Chicken Soup for the Soul. The key to his success was his commitment to action. Not just any old action, mind you. Aligned, well-thought-out, purposeful action. Jack knew he had a monumental task in front of him: promoting an unknown book by an unknown author. Each day he took action to increase name recognition, forge connections, and build sales.
Five Simple Steps for Thriving through a Recession, Jack Canfield Style
1. Get back to basics
Recessions are good for all things that begin with "re." Re-group, re-organize, re-view. Revisit the fundamentals that have already made your business a success. Revise your mission statement to stand for what your business is really all about. Reject rejection. Practice Jack's "Rule of Five": Every day, do five things that will move you toward your goal.
2. Clean up your act
Recessions are a great time, Jack advises, to clean up your messes. Now, when sales are slow, finish anything that is incomplete. De-clutter your office and organize your files. Make phone calls to bridge any disconnects that may have occurred between you and your customers. Magnify your success energy by focusing on what you want to happen, not what you are experiencing.
3. Focus on your connections and relationships
Recessions are the perfect time to forge new connections and strengthen long-standing relationships. Practice uncommon appreciation. Review your agreements with clients and confirm your commitment to them. Speak first and with integrity. Be impeccable in your communication. Meet for breakfast instead of over the phone. Supplement emails with handwritten cards and notes.
4. Be smart with your money
Recessions are the natural time for small business owners to review their financials. Take a look at your cash flow. Collect on any outstanding accounts. Don't fall into lackful thinking by clutching and holding onto your money. Spend wisely. Make sure your bills are paid. Above all else, give more. Keep your energy flowing by finding a way to serve others.
5. Step back
Recessions are the ideal time to practice stepping back in order to keep things in perspective. Instead of energetically aligning with all the fears, doubts, and anxieties associated with a recession, step back and move to higher ground. Don't get caught up in others' panic. Soar above it all to a place where clarity can be gained and perspective maintained. While you're at it, take others with you. As Jack says, "When you lift up others, they will lift up you."
No one likes feeling uncertain about the future. Yet nothing is ever certain, whether or not we're in a recession! By taking decisive action now, you can positively influence your future. When this recession ends, don't let your company be one that just managed to survive. Practice Jack's Rule of Five and thrive.
(ArticlesBase SC #389974)
Article Tags:
depression
,economy
,increase sales
,Increasing Sales
,Recession
,Economic Growth
,us economy
,Economic Recession
How to Market Your Business In The Recession
Learn how to market your business in the recession. Howard Lewinter, Business Management Specialist, discusses business strategies that will help CEOs, company presidents and business owners survive and prosper in the recession and be ready for the eventual economic upturn. (03:40)
How to Not Let Your Business Be A Victim Of The Recession
Learn how to solve the business problems and business issues facing CEOs, Company Presidents and Business Owners during this recession so your business is profitable and well positioned for when the economy rebounds. Howard Lewinter, Business Management Specialist, discusses business strategies to help you be successful with your business. (03:35)
How to Prospect And Sell In The Recession
Learn how to prospect (cold call) and sell in the recession. Sales down? Finding it challenging to acquire new business? Howard Lewinter, Business Management Specialist, discusses business and sales strategies to help CEOs, Presidents and Business Owners get through the recession. (04:26)
How to Recession-Proof Your Small Business
As the saying goes, "Recessions happen." While they may be an economic certainty, whether your business will make it through a recession is not. Take action now to recession-proof your small business by implementing these six steps. Distributed by Tubemogul. (04:01)
How to Prospect and Sell in the Recession, Part 2
Learn how to prospect (cold call) and sell in the recession. Howard Lewinter, Business Management Specialist, discusses business strategies to help get your business and sales team through the recession and ready for the eventual upturn in the business economy. (04:59)
We're hearing a lot about the economy lately. Just this week, Alan Greenspan actually said "the r word" by announcing that the United States is in a recession. The good news is that a recession is not a depression. To be successful, you need to become informed about what a recession is and what steps you can take to thrive in the midst of one. Here are 5 Simple Steps for Thriving through a Recession.
Interest based economy must be converted to service based economcy - productivity must be created by way of extermination of unproductive loans - economic jsutice must be maintianed by way of equitbale distribution of natural resources - Human resources must be given weight especially laour forces must be given optimal wages and other benefits for achieving full productivity.
The world is facing too many crisis. If you think global warming is worst? Then you haven’t feel recession at all. Beware because people are experiencing recession today. Informed yourself for you to be ready during recession.
The worst is over. Plan accordingly, and you'll find prosperity despite the mild upturn.
The recent increase in unemployment and the rapid deterioration in the U.S. and overseas economies raises questions as to the outlook for worldwide economies over the next year and the success of rescue plans to revive them.[ ... ]
In case of combating the depression 2008, India seems to again repeat the mistake of using the same tools which the western world is using without getting success in controlling the depression. Therefore, India should recognize the difference of its economic features as compared to America and the European countries and find compatible ways and means to control and combat the depression 2008.
Ever since the Wall Street started tumbling and the American economic crisis came out in the open in September 2008, there have been effects around the world. This disaster and meltdown was not restricted to this country alone; the repercussions are being felt across the globe. It is aptly termed as a global recession. This article looks at... Is US Debt Destroying the World Economy?
What is marketing? Marketing is defined in many uncommon ways according to who you ask, but all responses ordinarily are part of the same answer: Marketing is a combination of all of the activities you apply or participate in which help promote, brand, and advertise you manufactured goods, service, or affair
Recent Acquisition in Argentina, Two New Media Research Facilities, and Expanded Regional Services Coalesce to Form Newswire Industry's Most Comprehensive Latin America News Distribution Platform
In this next video you'll see exactly how to handle market situations you haven't planned for or have never seen before.
One of the primary goals of a retailer is to attract new customers to their store every day. Even in tough times, marketing is a vital component to your success and often many business owners pull away from marketing in hopes of cutting costs to improve profits which is a huge mistake
Should you think about starting a business over age 50? If you are, you are not the only one. Boomer businesses are booming.
One of the main reasons wine glasses are so widely sought-after is they are the perfect combination of form and function. Beyond being vessels to drink wine they also are incredibly decorative and can be glass decorations themselves.
The Internet has now become a one-stop shop where you can find literally anything and everything that you are looking for, including part-time money-making opportunities to help you bring in some much needed extra income. One of the most popular means of doing this is through affiliate marketing.
Car modifiers who are always looking for ways to give a unique car makeover for different cars can get personalized parts at unbeatable prices now. You can look forward to great quality parts for modifying various cars online now.
While it may seem the norm to feel stressed out these days, this isn't the way it's supposed to be. Finding balance in today's frenetically paced world is no simple task. Yet it can be done. Follow these eight steps to restore balance in your life to help reduce stress and put you back in balance naturally and simply.
What, if anything, are you doing to set the tone for next year? Don't wait for January 1st to make your New Year's resolutions. Now, as December winds down, it is a good time to begin thinking about what you want to usher in for yourself and your business in 2010. Enjoy and have fun with this "Three Steps to a Bright New Year" exercise. Then, on New Year's Eve, you'll be prepared to exclaim, "Out with the old. In with the new!"
How many times have you heard a client say, "I'm confused"? From an energetic standpoint, when a client says she is confused, there are four main things her confusion could mean. Here is some practical advice for what is energetically going on when your client says she's confused.
The recession is over. The pendulum has just started its swing toward economic recovery. Now is the time to lower your prices—not six months from now. The moves you make while on the cusp of recovery will determine where you'll be standing one year from today when our economy is stronger and job security higher.
The countdown to Christmas is underway, and many people are shopping online this holiday season. As a smart small business owner, you need to offer special buying opportunities all month long. The list of "12 Things You Can Do to Make Your Business Merry" will help you do just that. Implement one idea each day. You'll not only be promoting your business during this holiday season, you'll also be making certain it will be a success in 2010.
As a business professional, you know sales are important to the success of your business. However, you can't have an aversion to sales and expect to sell anything. Therefore, you must learn to approach sales in a new way. You must be perceived, first, as a professional businesswoman and, second, as someone who has a product or service to sell. Here's how.
As the saying goes, "Recessions happen." Recessions are an economic certainty. What isn't certain is whether your business will make it through a recession. Do yourself a favor. Don't stand idly by with a wait-and-see mindset. Recession-proof your business to ensure increased productivity and growth this year and forever by taking action on these six steps now.
When 250 women entrepreneurs asked the question: "What's the number one thing you do to boost your productivity?", here were their top 5 answers. Decide which of their favorite techniques will help you the most, and start implementing them right now. You're sure to boost productivity for yourself and your business.
Add new Comment
Comments on this article
0