Wednesday, December 24, 2008

Prospering in a Bad Economy

As economic woes mount in the U.S. and around the world, more and more people are wondering whether it is really possible to prosper in a bad economy. Over two million people have searched Google on these terms, in the last month alone.

Now some may call me an optimist. But, my consulting clients pay me to be a realist, charting strategies to help them prosper in these times. To help my clients, I am continually scanning the market looking for pockets of opportunity. And, I continue to see wonderful opportunities for those who understand that almost all the rules that we have learned are being replaced by new rules.

Companies trying to sell the same goods and services, at the same prices, that they offered in good times are not likely to prosper. And individuals offering the same skills to employers, at the same salary, are also not likely to prosper.
Regretfully, many companies and many individuals are having trouble shedding what worked well in the past. They are looking at the world through the prism of their past experiences and past successes. How sad!

All of us...individuals and companies alike...face new realities. New needs. New economic constraints. New buying patterns. Etc.

Those who understand these new needs and fashion compelling offerings will prosper. Some are already doing so. Others will, hopefully, soon do so. Regretfully, many will fail to do so as they will be looking at the world through yesterday's rules. Kind of like trying to drive your car forward while looking in the rear view mirror.

The road to prosperity begins with having the right attitudes for these challenging times. The recently concluded series Lessons from the Masters is a great starting point for adjusting your attitude to support personal prosperity in 2009. And, throughout 2009, I will be regularly sharing with you my observations about what I see happening in the market...both the good and the bad. As I do so, I welcome your comments and suggestions.

Happy holidays to all and I will be back on Friday to start a new series Countdown to New Years.

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