I heard there was a recession and I decided to capitalize on it.

Changing Times Require Changing Approaches

Changing Times Require Changing Approaches

I’ve been in business since 1987 and have weathered wide fluctuations in both the external economy and my own internal economy. I realized about ten years ago that it really just doesn’t matter what is going on in the external economy – what matters far more is what is going on in my internal economy. I also realized that there was only one person responsible for what was happening with my internal economy – ME.

What I do do – look at the external environment and figure out how to capitalize on it with my internal environment (those things I control)- regardless of the label that is being placed on it at the time. I look at:

1. What are the right goals for me to be pursuing at this time? Running a thriving business requires that I know when to hold them and when to fold them. When the external environment changes, I change.
2. How can I help other people succeed in the current climate? The more I can help other people find success, the more success I find. And what people consider success is different in different times.
3. Are the financial commitments I have made still the right thing for me to be doing? This has far more to do with the lifestyle I want to lead than anything else. Yes, some decisions made a lot of sense at the time they were made – however as the winds of change blow through life, they may not make that much sense anymore.
4. Do my definitions for my own success still make sense for who I am and who I want to be now? As I move through life, what drives a feeling of success changes. It just doesn’t make sense for me to keep pushing to achieve a level of success that just doesn’t suit who I am anymore.
5. Am I using the money in my life in the best way that will generate more money? This requires that I am able to evaluate opportunities quickly for the best return on investment.
6. How can I best leverage my four key sources of capital – social (relationships), knowledge (skills), brand (reputation), and operating (my existing infrastructure)? I actually love tough economic times whether they are external or internal as it makes me much more creative and aggressive. I make the most money by leveraging these four sources of capital when it’s tough for everyone else to get money.
7. Where in my life are things working great? I learned a long time ago that whatever is meant to be happens easily. If something is just too hard for me to do, it means I’m not supposed to be doing it.

I created several free downloads that explain how to implement these concepts. Capitalize on Recession Downloads.

One Response to “I heard there was a recession and I decided to capitalize on it.”

  1. Rob Says:

    Great post – Thank you for sharing –