The World has changed

The world seems much different than it was even three years ago. Here are a few observations that I have seen:

Bank and financial services are continuing to be in trouble. A recent Financial Times newspaper suggested that 1,000 U.S. banks might fail within the next year. A few years ago, bankers were making huge salaries and bonuses. Businesses with poor credit could get money. Financing houses, cars, and new ventures was easy. Today, credit is tight. Even well qualified borrowers are finding borrowing to be painful or less readily available.

U.S. government debt used to be fairly manageable. Today, it looks out of control. When I was growing up, the word “millions” was beyond my comprehension. Then we went to “billions.” Today, the word “trillions” is tossed around as no big deal. The impact will continue to heavily hamper the economy, the value of the dollar, employment, business capital, and many other risks.

I could go on all day but I do not believe the world has stopped changing. I suspect that not only will it not go back to the way I remember it, but that change will continue. With change comes opportunity – but only to those who are willing to change with it.

What do you think? Is the world getting better for business, career growth, and employment?  If so, how and why do you see it happening?

Attitude is Not Everything. It is the Beginning of Everything.

You have heard sayings like:

• Some ask “why”, others ask “why not”

• It is always darkest before the dawn

• The beginning step is the first step

• Try, try, and try again. Most successes are from perseverance.

The list can go on, but we have choices. Rocks have few.

We can decide to get up each morning or to lie in bed. We can decide that we are not in control, or we can realize that we can influence or make happen what goes on around us.

You may not be able to control the world. You can control your attitude.

Everyone likes to be around a positive person. Employers and buyers are no exception.

Let’s start with a test.

• Did you wake up this morning? That is better than the alternative!
• Was the sun shining and birds singing this morning? If not, was it raining? Rain gives water, which helps food, grow so the birds have nourishment to sing when the sun does come out. Are you thankful for both the rain and the sun?

• Did you have enough food to eat today? Up to 1/3 of the world did not. Are you thankful?

Everyday is an opportunity to do something positive, to see positive things around us and in other people, and to choose their positive outlook with others regardless of the environment.

If you are trying to get a job, get a promotion, or to develop your business, start with choosing to be positive. It is the first step.

What do you have to be positive about?

Opportunities surround us

We are often limited by our backgrounds, situations, and priorities. We may be an accounts payable clerk who cannot imagine how we are any different than any other accounts payable clerk. We may be tightening our family budget and losing our house, so we cannot imagine investing in self improvement to compete in the marketplace. We might insist that our family time, sports, and other activities must have priority over looking for work, performing at work, or selling.

The opportunities lie in determining:

• How an accounts payable clerk can help a company not lose money through fewer duplicate payments, stretching out payment a little longer to non-critical suppliers, automating or improving the process to increase productivity, consolidating many bills into one payment, or suggesting contingency based third party auditors to recover funds that belong to the company, and much more.
• How defensive actions now, like foregoing less critical expenses and even selling your house and renting for a season, can give you the ability to survive and invest in your future.
• How having a family meeting to discuss today’s realities and working as a family to allow the bread winners more time to keep a job, get a promotion, or sell more by prioritizing events and recognizing that challenging times require different approaches to help the family survive and thrive.

Every crisis brings opportunities to those who are willing to look for them.

I have heard that many large businesses in the U.S. were started during the Great Depression by those with the vision to see and grab the opportunities around them.

What opportunities are surrounding you?

Chaos = Opportunity

I have heard that there is an old Chinese curse that goes like this, “May you live in interesting times.” I don’t know about you, but I sense that we are living in “interesting times!”

I also heard that the Chinese character form for “chaos” can also be interpreted as “opportunity.”

So, which definition are we in today?

I believe we are in both. We may be in chaotic times today and who knows what tomorrow. We are in a time of opportunity today and tomorrow.

How?

• If stocks might go down, you can short the market and make a killing.

• If housing might go down, you can buy at the trough and rent for both positive cash flow and opportunity for long-term capital appreciation.

• If you see inflation coming, you can buy durable goods and commodities now while pricing is low and pay off debt tomorrow when the value of the dollar is less.

So, what does these opportunities have to do with employment, promotions, or selling?

For every concern that an employer, supervisor, or buyer has there is a fear, pain, or want for help or answers. What can you, as a perspective employee, rising star, or sales person, do to help them where they need and want help?

Does this concept change whether you are in the U.S., Europe, Asia, Latin America, or Africa?

What are the concerns, fears, uncertainties, wants, and needs that your prospective employer, employer, or buyer have that you can help solve?

Economic Uncertainty = High Risk = Fear

A well known investment principle is that increased volatility equals increased risk. Another well accepted principle is that uncertainty or the unknown increases fear. High risk and uncertainty creates fear and, sometimes, panic.

These principles apply more than to investments. When the political winds change, there is uncertainty. When the political winds are blowing in an adverse direction, defensive positions are often taken. In both cases, it is difficult to plan the future because there is not enough information to predict the future and to develop business or personal plans amidst uncertainty.

One simple example is taxes. If the tax codes might be changing, major decisions are often deferred until the new code is written and the tax attorney can give advice. If there is concern that the tax code may become adverse, the tendency would be to take a taxable event now (spelled “sell”) rather than risk higher taxes by selling later.

When an investor is panicking, they often sell. When they are fearful, they either move to cash or simply move to a wait and see attitude. Neither of these responses leads to an improving market.

When an employer sees risk or becomes fearful, they often freeze expansion, reduce the workforce in anticipation of a downturn, or simply stop hiring to wait to see what will happen.

What do you see on the horizon? Do you see uncertainty and storm clouds brewing or a beautiful rainbow?

What are you seeing in the marketplace? Are companies hiring more or less? Are insiders investing or deferring? Are companies buying more products or trying to manage with less?

Employment Trend Implications

Unemployment is continuing to trend higher, much higher. So, what does that mean for us in the U.S. and worldwide? I believe it means, “fasten your seat belt, we will be in for a bumpy ride!”

But more specifically, what does it mean to us personally?

• If I am unemployed, is it getting easier or harder to get a job?
• If I am employed, is my job at risk
• If I am employed, am I seeing more or less promotional opportunities?
• If I am self-employed, is making sales getting easier or harder?
• If a small business, is your revenue base safe? Are you growing or concerned?
• For those in MLM programs, you may be seeing a surge in recruitment but are you seeing customer growth and retention?
• For those considering buying a franchise or business, is this the right time?

What trend are you seeing in the next twelve months? Is life getting easier or more competitive?

Jobs: Today’s Reality, Tomorrow’s Forecast

The President’s office recently suggested that nationwide unemployment could reach 11% and get worse. Seven months ago the same office promised a maximum of 8% unemployment. The Atlanta Fed chief Dennis Lockhart just announced, “If one considers the people who would like a job but have stopped looking — so-called discouraged workers — and those who are working fewer hours than they want, the unemployment rate would move from the official 9.4 percent to 16 percent.” The April 2009 issue of Fortune magazine stated, “1/3 of the U.S. population will be unemployed, underemployed, or working part-time when they would rather be full-time.”

Where do you think we are headed in the next six months? Twelve months? Two years?

Do you believe this trend is worldwide?

If you live outside the U.S., how is your local area doing? What do you predict for your neck of the woods?