4 Steps to Beating the Credit Crunch
The Credit Crunch has been a painful
time for many, many people. However, for every 100 in pain, there's one
who's leaping in joy ... oh, ok, so statistics are a group of numbers
looking for a fight and it might be 1 in 85 or 1 in 54 or 1 in 123 ...
let's not quibble over trivial details and agree that, despite the
ravages of this financial storm, there have been many who have done
well from it. The BIG question is, of course, what
did the winners do that the rest of the herd didn't ... and what can
you do right now and when the next crisis hits? Sorry dudes, but there
will be another financial crisis and another and another, so the sooner
we learn from the last one, the more likely we'll be in the winning
team next time. The first thing to do is look at what
the losers did - they followed the other losers. As soon as the
stampede starts, they all head off in the direction everyone else is
going. What do the winners
do? They do the opposite. They stop and look around at what has caused
the stampede and, often as not, in buffalo society, it's no more than a
puff of wind that turned dust into the shape of a predator. So stop,
look and go nowhere - with the rest gone, there is more grass for you
to feed on, right here! Whenever the Titanic sinks, the majority go
down with the ship. However, there are always some who immediately pop
up, look around and go build a better ship, an aeroplane or something
that doesn't head downward at the first sight of frozen water. That's the theory. Let's look at what one company in Norway did, for a practical lesson:
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Change yourself, change your business Owning
your own business is a personal development program! It wasn’t
something you thought you were getting into but, now that you’re doing
business, you may have discovered that you’re doing a personal growth
course, whether you like it or not … whether you realise it or not!Whatever skeletons we have in our mental and psychological closet, they’re bound to come out under the stresses (and successes) of owning our own businesses. Yes, we know – we’ve owned four ourselves. We’ve had businesses in publishing, accounting, business coaching and, now, the Personal Development Academy website. So this report is from those who know! We’ve been there and have the T-shirts (and the scars) to prove it! Our experience in business coaching - and other research - shows that if businesses are not successful, that’s usually the reflection of their owners. No, you didn’t want to hear that, did you? Sorry, but whatever business success or failure you’ve attracted to you is not all the fault of the economy or the business. Some of it – most of it – is down to you. It’s down to you Ooh, you didn’t want to hear that either, did you? Actually, this news should be totally liberating for, if it’s your fault, you can do something about it: you can’t fix the economy, you can’t change the tax rate, you can’t change the interest rates, you can’t eliminate your competitors, you can’t change your competitors ... but you can change yourself and your business ...
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Are you a follower or a leader? Most
people aim for nothing and hit it with amazing accuracy! And, as a
business owner in these changing times, it’s often difficult to know
what to aim for - they keep changing the rules!The crazy thing is that though we’re supposed to be very afraid because of this credit crunch, there are more opportunities than ever before. During times of depressions, more millionaires are made than at any other times. Successful business people rub their hands with glee when the economy turns down, while other people are looking the wrong way – out there, where they perceive the problems to be – and opportunities go begging ... for want of straight thinking and sharp focus in the right direction. You are bigger than the Credit crunch From 1965 to 1985 in USA - despite inflation, oil shocks, recessions and major job losses in certain industries and government - there was a huge growth in jobs. These jobs – 40 million of them – were not created by large corporations or government, but by small and medium-sized businesses. Most people thought the growth was from “high tech” industries but only 5 (of the 40) came from there. According to Peter Drucker, the key “technology” driving jobs growth was entrepreneurial management. The force of the entrepreneur, he suggests, is always greater than the state of the economy ... you are bigger than the Credit Crunch! Your business is about who you are ... In The E-Myth Revisited, Michael Gerber says that going into a business is as much about who you are and who you want to be as a person as it is about the business itself.
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