 |
How to Thrive Through This Recession, Jack Canfield Style
Author: Susan L Reid  | Posted: 17-04-2008 | Comments: 0 | Views: 34 | Rating: (129)  (?) 
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.
Rate this Article:
Current: 0 / 5 stars - 0 vote(s).
Article Source: http://www.articlesbase.com/business-articles/how-to-thrive-through-this-recession-jack-canfield-style-389974.html
About the Author:Business Coach & Consultant for entrepreneurial women starting up small businesses, Dr. Susan L Reid is the author of "Discovering Your Inner Samurai: The Entrepreneurial Woman's Journey to Business Success." For ideas, tips, and support for your business journey, sign up here for our free e-Zine.
|
Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free! |
|
Related Articles
How to Thrive Through This Recession, Jack Canfield Style
By: Susan L. Reid | 17/04/2008 | Small Business
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.
Survival Kit for Oncoming Climate of Economic Turbulence
By: brian schwartz | 29/04/2008 | Economics
It is not the end...yet. Dark clouds of recession are certainly hovering around the financial horizon. The economic indicators point towards a downtrend in business, which means problems for real estate investors, job seekers and what have you. Gas prices have hit an all time high. It is certainly time to prepare for a rainy day.
Storms Clouds On The Economic Horizon
By: Jennifer Stromsteen | 24/04/2008 | Finance
Troubles in the subprime mortgage market are not the only crisis faced by the economy.
Economy Sucks? We're Going to Disney World!
By: J.J. Jackson | 18/05/2008 | Politics
Have you heard? The economy sucks. Maybe you have read about it in the newspaper, on various internet sites or even heard about it on the evening news or the radio. That is, if you can even afford to pay for newspapers, internet access or electricity to power your television without giving up important things like providing dinner for your children who are now relegated to wearing burlap sacks once filled with potatoes.
Before you Go Bottom Fishing for US Financial Stocks
By: Andrew Abraham | 03/12/2007 | Investing
So many are asking is it time to start buying the beaten down bank stocks. The Dow Jones Wilshire Banking index is down approx 20% YTD. Some bank stocks are trading at or near book value. One can easily say drooling valuations. On top of that we had had a nice rally last week. Even the Abu Dhabi sovereign govt fund came in with an investment in Citi similar to Prince Alaweed in the early 1990s banking crisis. So why not join the fun and make some money? However is ones memory to short to forget the Sept market rally which did not sustain?
When the Economy Slumps, Marketing Will Keep Your Business Thriving
By: Wendy Maynard | 18/03/2008 | Business
Author Wendy Maynard offers tips and strategies on adjusting your marketing in a tough economy.
Fed Cred: Down the Tubes
By: Dane | 25/03/2008 | Mortgage
This article discusses the increasing likelyhood that the US will enter a recession in the wake of the Fed's ineffective interest rate cut on January 22nd.
Recession-proof your Business?
By: Todd Jensen | 13/02/2008 | Business
You can still grow your business even in a recessionary economy.
Got a Question? Ask.
Ask the community a question about this article:
Frequently Asked Questions
I find myself always reading something read sad or ...
By: minnie | 12-07-2008
I find myself always reading something read sad or dwelling on depressing things. How can I change?
Breaking Into Pieces.
By: jmdillon | 09-07-2008
Hi all. All I can't say is, help. About a year and a half ago my father was diagnosed with stage IV bladder cancer. Since then it has spread to his lungs, liver and abdomen. Nurses say he has several months. My family is in Ohio and I am working in Washington, DC. I am 23 and my dad is only 55, unfair if you ask me. My dad and I have always been close. He is ordained in the Methodist Church and has worked in the church for years so our family has always been involved together in the church. The last report we got from the doctor is that the masses in his lungs have doubled and tripled in size in the past 2 months since he chose to stop treatment (it was doing more harm than good). So, at 23, i'm dealing with something way beyond what I am prepared for. But, on top of this, my boyfriend of 2.5 years, with whom I live, has decided to go to Cornell (500 miles away) for a graduate program. Sean, my boyfriend, has been my stronghold, my shoulder, my rock since my father was diagnosed. As poorly as I may be handling my father's condition, it has definitley been better than had Sean not been with me to support me. My support system of friends and family are all in Ohio, so Sean is all I have here. My question is, how do I do this? I personally don't think I am emotionally capable of maintaining a healthy long-distance relationship with half of my heart being in Ohio with my family. I need someone to BE there for me. What do I do? How do I end a relationship I never thought would end, and live to see the next day? How does pain like this not kill a person?
Heroine and depression
By: Diane | 02-07-2008
A family member has been clean from heroine for about 2 months now but is showing signs of depression. Does this have anything to do with the person stopping the heroine.
Dose Ixel (Milnacipran) help with social phobia?
By: shirhh | 02-07-2008
Is anyone know if Ixel (Milnacipran) help with social phobia \ social anxiety?
Colorado
By: aslbrat | 29-06-2008
how is Colorado's economy compared to other states?
Memory Loss and depresion
By: survivorihope | 28-06-2008
I am 46 years old and have been expierencing memory loss that seems to be getting progresivley worse over the last few weeks. I have a history of chronic depression and have been on medication for the last 7-8 years and therapy for the last 4 years. I have been taking Welbutrin XL for about 7 years, was on lexapro for about 5 years then changed to cymalbta for the last 2 years. I started to expierence anxiety and panic attacks about 5 years ago and was put on lorazapem as needed to address these. About 3 months ago I was diagnosed with PCOS and put on Metformin, I was also rediagnosed by a physciatrist as suffering from BPD, BIPOLAR II and PTSD and was put on Lamictal for the severe mood swings. I had noticed a improvment in my mood swings and irritability after about a month of the lamictal but have recently started to notice a reoccurence of these promblems making me wonder if my dosage needs to be refined. The most disturbing thing is that I have been expierencing memory loss for about the last month or so. At first it was just kind of annoying not being able to remember what I was just going to say or do, but then I also started not being able to remember words that I needed to finish a sentance but it would be right there but I couldn't access it. It has progessed to the point that as I am in the process of training a new employee I find it disturbing and embarrasing that I want to say something but can't think of the words. I have always done alot of reading, it is my favorite form of entertainment and usually read at least one book a week at least. I also like to challenge myself with word games such as scrabble and crossword puzzles. I have always thought I have a very diverse vocabulary because of these things so I find it very disturbing to not be able to remember or verablize words that I know. I have read that depression, stress and anxiety can cause memory lose, but my question is why it seems like it is such a sudden onset after I have been under treatment for the last 7-8 years? Any information or advice you can give me would be highly appreciated.(even as I write this I find myself struggling for certian words)
Q&A Powered by: 
Latest Business Articles
The Basics of Creating a Filing System That You Can Benefit From Starting Today
By: Tracey Lawton | 19/07/2008
In my brand-new article, I'm going to share with you 7 easy steps for getting your filing system in place. The summertime is generally a quieter time with a more slower pace of business, so use this time to get one of your core office systems in place.
The 9 Things You Will Want to Include in Your Email Newsletters
By: Katrina Sawa | 19/07/2008
You probably get numerous newsletters across your desk each month. How many of those do you really read? I am sure that you scan certain newsletters for valuable information, while you just toss others. Then, of course, there those like mine (chuckle), which you read every last word of.
CEO Tips for Getting Staff to Understand You
By: Pamela Scott | 19/07/2008
This article is directed to the CEO, but it can help anyone in a management position communicate more clearly with staff.
Protect Your Internet Home Business
By: John McRae | 18/07/2008
Running an internet home business or any small business for that matter involves some degree of risk. The business could fail and if you are not protected creditors will be coming after you. There is also the very real possibility that your business could be a success and give you the financial freedom every person dreams of. With that new found freedom brings another creditor, the IRS.
How to Promote an Office Cleaning Business
By: Brent Wale | 18/07/2008
If you are either thinking about start your own janitorial/ office cleaning business, or if you already own and operate a cleaning business..Here are some tips on how to promote and market your cleaning company.
How to Establish yourself as an Expert
By: Katrina Sawa | 18/07/2008
Establishing yourself as an Expert in your field is a great way to get added exposure, publicity and credibility for you and your business which will ultimately bring you more sales and more money!!
Are Your Prices High Enough?
By: Stephen Oliver | 18/07/2008
Conventional wisdom dictates that you should discount to get the business at any cost. This article suggests that you in fact should be raising your prices instead and focussing on your most valuable customers instead.
Women Owning the Workplace: Tips to Guide Female Entrepreneurs
By: Melissa Mashtonio | 18/07/2008
Women are taking the business world by storm, and it doesn't look like they're backing down. According the Womenentrepreneur.com, women-owned firms are the fastest growing in the country. Women are looking beyond the traditional roles and moving ahead to a new role: entrepreneur. This does not necessarily mean women are...
More from Susan L Reid
Optimize Your Website...and They Will Come
By: Susan L Reid | 03/07/2008 | Computers
What's the big deal about search engine optimization? Isn't it enough that you've put up a website, purchased some Google AdWords, and sent out an email to everyone you know announcing your site? In short, no. There is an art to search engine optimization (SEO), and it's critical for web-based businesses to know, understand and utilize if they want to drive quality traffic to their website via the Internet. Where do you begin?
No Agony of Defeat for Hillary Clinton
By: Susan L Reid | 17/06/2008 | Business
On June 7, 2008, Senator Hillary Clinton made history. I knew it as I watched her deliver her exit speech before 2,000 supporters at Washington's National Building Museum. She wasn't just endorsing presumptive Democratic presidential nominee Senator Barack Obama; she was leading by example. There is much the entrepreneurial woman can learn from Senator Clinton, including these 10 lessons about facing so-called defeat.
Using Online PR Distribution Services to Your Advantage
By: Susan L Reid | 05/06/2008 | Internet
You have something fabulous to announce to the world! So, what online press release distribution service do you use? With so many to choose from, it's hard to know where to start. If you do a search for newswire services it's easy to become overwhelmed by the possibilities. You might either give up or go overboard, spending lots of unnecessary money and duplicating your efforts. Before you do either, first consider these important items.
From Woman With a Good Idea to Woman With a Thriving Home-based Business
By: Susan L Reid | 19/05/2008 | Business
"There are 10.4 million women running successful businesses in the U.S. Of those, 85% of them are running businesses out of their home." Behind every woman starting a business, there is a good idea just waiting to fail. Yes, fail. Why? Because a good idea isn't a great one, and being passionate about something isn't enough to turn a good idea into a thriving home-based business. Read the Top 5 Steps to Insure Your Business Success.
Ladies . . . Start Your Engines!
By: Susan L Reid | 03/04/2008 | Business
Have you ever watched the Indy 500? The audience cheers when it hears, "Gentlemen . . . start your engines!" These 4 words announce the start of something big. Writing a promotion plan is the start of something big, too. So why aren't more women-owned businesses taking time to write one? Read Top 5 Reasons Women Business Owners Put Off Writing Promotion Plans & 7 Affordable Things You Can Do to Jump-start Your Promotion Plan.
The Coup De Gr
By: Susan L Reid | 02/03/2008 | Business
Goals. We've all set them. We all know the sting of defeat when we don't reach them. So why do we sometimes fail to reach our most cherished goals? The #1 reason goals fail is because we start out by identifying our goals. Determining what our goals are is actually the 2nd step. There's an all-important "step #1" we often leave out. What is this all-important 1st step? Here are Five Steps to Align Yourself with Success.
Is Midlife Entrepreneurship for You?
By: Susan L Reid | 19/02/2008 | Business
Do you think entrepreneurship is just for the young? That anyone past 50 is too old to start up a business? That midlife is when you should be thinking about retiring and preparing to live on less? If you do, then midlife entrepreneurship isn't for you. However, if you like to call the shots and live life on your own terms, then midlife entrepreneurship may be right for you. Here are 10 Reasons for Becoming a Midlife Entrepreneur.
Help! I Am Having a Career Transition Crisis!
By: Susan L Reid | 01/02/2008 | Business
Have you been waking up in the middle of the night in a cold sweat, panicked about your future, wondering if you're going to be able to make things work out? Is your mind racing as you contemplate options, unsure about what to do and where to go from here? If so, you are in the midst of a career transition crisis. Here are the top 10 things you can do to stabilize your transition.
|
|
Business 
