Three Ways to STOP WORRYING about the "Recession"

We are all hearing about it... everywhere we look. The news is posting scary thoughts about the impending recession.... gas prices seem to be the topic of the day... every day, no matter WHO you are talking to or listening to. Rest assured, I am feeling the "pain at the pump" just like everyone else in our country, but I think a bit of perspective will help us better navigate our new economy.
My marketing mentor, www.DanKennedy.com, is a man of pure genius. I mean, there is nothing commerce - related that this man doesn't study, learn and master. He is often referred to as the "Professor of Harsh Reality", but has directly influenced MORE first generation (i.e. no family inheritance) entrepreneur millionaires than anyone else in the world and I am thrilled to study under him. In his latest newsletter, he gave the following advice: "they've (most entrepreneurs) turned their thoughts to getting by with LESS until 'this recession blows over' as if it is a summer thunderstorm. It is not. it is a TRANSITION to a NEW economy, where there is MORE opportunity than ever. Different, but more." In my own business, I can see that he is absolutely right. Things are DIFFERENT. But as business owners, aren't we constantly changing, constantly adapting and being flexible? During this "economic transition", our success (YOURS and MINE) will be fully dependent on our taking BOLD action and being flexible with our attitudes, our beliefs and our actions. We can make this transition and profit in the process, OR we can stand still and be "gobbled up" by it. "Worrying" will keep you in STAND STILL and WAIT mode. So, here are some ways to stop worrying and start profiting!!

1) Stop watching the doom and gloom paraded on TV. Just because the news portrays something as fact, doesn't make it so. Sure, we are in a tough economy. But, this "doom and gloom" sells. I refuse to "buy it" because I KNOW that my mindset is equally as important as my marketing, or my strategic business plan, or even my products and services. So, I choose to look at the facts.
For some reason, the news is not reporting the FACT that there are MORE people with MORE discretionary income and affluence in our country than any other time in history. Why haven't they let us know that with the boomer generation's parents transfer (by inheritance) TRILLIONS of dollars that MORE wealth will be re-circulated than ever before. (Talk about one HECK of an economic stimulus package.) The AVERAGE American household's extra cash (discretionary income) is $24,335.00 for the year. There are many MORE facts that you will find if you turn off the "DOOM" and begin looking for facts. These facts were taken from "A Marketer's Guide to Discretionary Income" which is put out by the Consumer Research Center.
2) Look for good news! Last week, I featured one of my personal clients... running a luxury business and profiting GREATLY. Here is some more good news: Albeit the economy is "tough", we (the middle class) are still spending money on discretionary items or services. People are still sending their kids to private schools. Kids are still taking karate, piano, violin, ballet, and gymnastics lessons. The number of plastic surgery procedures continue to rise. People are still getting massages, having their nails done and spending small fortunes on their hair. We haven't disconnected our hot tubs to shave a few dollars off of our electric bill. Look around you. While we are complaining to one another about the cost of milk, we will (in the same breath) discuss a sale at Macy's or plan a night out.
There is MORE good news: Many entrepreneurs will FREEZE in this economy. Fear will overwhelm them and they will SAVE their way out of business. They will believe that they CAN NOT prosper and, while taking NO bold action, they will blame the economy. They will close their doors, thinking there was "nothing" they could do about it. They will go out of business REACTING to all they hear about the economy instead of CREATING solutions to profit NOW. Either option is open to all of us. If we DECIDE to profit NOW, we are in even better shape. Because the "herd" of entrepreneurs will be thinned as those hoping for easy answers and "don't make me think too hard" solutions are eliminated. The "Woman who WOWS" (and her male counterparts) will be poised to benefit greatly from this "thinning" of the competition. I am determined to help you navigate this transition... but you must keep thinking creatively, continue to be flexible, and be willing to invest in some BOLD action and serious thought! How will YOU reinvent your business so that you are HELPING the economy by making MORE money than ever?
3) Follow the piles of money! Matt Bacak is a public speaker who coaches others to speaking success. One rule he has always followed is to FOLLOW THE PILES OF MONEY. In other words, when determining a course of action, he would never look to someone in the SAME financial situation as him for advice. He will go where the MONEY is and ask THEM for advice. One of my own "sayings" is that BEHAVIORAL congruency will always equal RESULTS congruency. But only every time. In other words, if you want the RESULTS someone else is getting, DO what they DO. Follow the piles of money! Right now, the biggest PILES of money are being spent by the affluent. Instead of lowering your prices (again), how can you reach out to them?
You will see MANY changes in Women Who WOW over the next few weeks as I remain agile and committed to greater profit and success in ANY economy. First, I will be reaching out to the beginning (but committed) female entrepreneur - with a $37 per month option - because THIS under-served market is where I can make the MOST impact in the "masses" of women entrepreneurs. I am also beginning again to offer LIFE coaching services for the ultra-affluent mother. While my private coaching fees for women entrepreneurs continue to climb, I will incorporate affordable (and on-going) GROUP coaching options that are guaranteed to show results.
© 2008 Women Who WOW
Success coach and speaker B. Michelle Pippin publishes the results-oriented and attention-grabbing 'WOW Factor' weekly e-zine. If you're ready to jump-start your small business, make more money, and have more fun, get your FREE subscription now at www.womenwhowow.com.