Husband Lazy ???

One of the ways that I guage what is going on in our society is to periodically review what terms are being searched for most often on Google. What people tell you is on their mind is one thing. But, what they search on tells yet another story...and frequently the truer story.

Recently, my attention was drawn to the headline of this post by one of my Google reviews of most frequently searched terms. No sooner than having been made aware of this notion, I began hearing - first hand - the stories that go something like this:

Husband (or significant other) gets laid off...husband goes into a funk...and husband just lazes around.

Meanwhile the wife is holding down a full time job and is still doing the vast majority of the household chores.

Sound familiar? I hope not!

I feel for the woman who are going through this kind of situation. They are really dammed if they do , dammed if they don't. If they try to nudge the husband, they are likely to get a fair amount of resentment. (The male specie, by and large, is not keen on receiving guidance.) And, if they do nothing, they are unlikely to get much change from the husband.

Best advice I can offer is that women in this position get help on how to deal with the situation...from a professional (coach, therapist, etc.) if possible, but if not possible, then from a thoughtful friend. What I know is that a person can't let the situation add to the load already being carried. Remember, Cheryl Richardson's thoughtful guidance that in these challenging times it is more important than ever that extreme self care be our priority.

Best advice I can offer any husband in this situation is get over your layoff. If you can't do so quickly without counseling, then get counseling! In this economy, many a good person is getting laid off. The measure of a person is not whether they are getting laid off but what they are doing about getting re-employed. And, what they are doing - in the interim - to carry their fair share of the burden of operating a household.

I am a huge believer in the notion that life was meant to be shared. Shared so as to make the good times more enjoyable. And, shared so as to make the challenging times more doable.

If you are in a relationship, are you carrying your fair share of the load?

Supply and Demand Changes Present Recession Opportunties

Everywhere I turn, I see opportunities for companies and individuals to take advantage of market changes due to changes in supply and demand relationships in a given market segment.

Savvy companies and savvy individuals will understand these new market dynamics and figure out how to make them work to their advantage.

Let me share a couple of examples.

I am seeing some companies recognizing that formerly short supply labor is now so plentiful that they can upgrade their employees...at every level. Companies doing so have great opportunities for improved productivity, as well as improved customer service.

But for every company I see lifting their expectations of their employees, I am seeing even more companies frozen like a deer in headlights. These companies seem more focused on making cuts in employee levels than they do in getting dramatically more from their employees.

Or, take the change in supply and demand in the commercial real estate market. I am seeing some companies getting quite aggressive at demanding renegotiation of their leases with commercial property owners to reflect new supply and demand relationships.

But for every company I see being aggressive at lease renegotiations, I am seeing so many other lessees treating their leases as sacrosanct.

A similar pattern is playing out with individuals.

Some individuals are stepping up their performance dramatically to save their job or, even better yet, to set themselves up for job advancement. While others remain seemingly oblivious to changed conditions (as with the Bellagio Hotel example that I wrote about in a recent post).

Those living in the past...and those focused on new realities. Those frozen in worry...and those choosing to prosper by taking advantage of changed circumstances.

Change represents such great opportunities for the astute, especially those who are also agile.

The Power of Less

In these tumultuous times, it is often tempting to try to work faster in order to get more done.

As counterintuitive as it may seem, the answer for many people may be to do less, in order to create greater results.

First time author Leo Babauta has written a terrific new book, The Power of Less.



Babauta makes a very compelling case for limiting oneself to the truly essential in business and in life.

This is one of the finest books on the subject of time management to be written in the last decade. It really is that good!

In these tumultuous times, simplifying our lives can be important part of the road to prosperity.

Bellagio Hotel Misses the Opportunity

I just attended the Distressed Investment Conference held at the Bellagio Hotel in Las Vegas. The Conference was important to my continuing efforts to understand the distressed market for my consulting clients and for my other blog, Restructuring 2.0.

Everywhere I go, I see examples of companies and individuals getting the message about the opportunities in a downturn, as well as of companies and individuals not getting the message. I saw both at the Bellagio. My experience is illustrative of the opportunities that are being squandered because of some not getting it.

When I made my reservation to stay at the Bellagio, host hotel for the conference, they were offering on the net a special of "stay two nights and get the third night free." I decided to take advantage of the opportunity.

Upon checking in, my hospitable clerk confirmed that the third night would be free and would be taken care of at checkout. He then nicely offered me an upgrade, at a very attractive price I might add. I decided to take advantage of that offer.

Note...I am starting to feel really good about the Bellagio. Both on a personal level for the amazing deals I am getting, but also at a consulting level that "they get it about the downturn being an opportunity to take market share away from competitors."

Over the ensuing three days, I repeatedly observed very hospitable and attentive service. My admiration for the Bellagio kept growing.

Saturday morning, I had an early flight back east. So I checked out early. I was pleased to see no line. The front desk clerk was quiet but professional. She printed out my bill and handed it to me. But, I noted that they had charged me for the third night, which was supposed to be free.

I called the mistake to the clerk's attention and she said she would print out a new bill. But, interestingly she offerred no apology for the billing mistake.

When she handed me the corrected final bill, I told her that I was disappointed that I had to be the one telling them what our arrangements were. Her response was something to the effect that "that is the way our system is." The consultant in me couldn't resist suggesting nicely to her that she pass on to management my view that such is not right. Her facial look made very clear that she wouldn't be passing on anything and that she would prefer I just leave (there was no one else waiting to be served).

I decided I would make my suggestion directly to management. I asked to speak to a manager. The manager came around to meet me face to face (rather than speaking to me from behind the desk). Smart.

It quickly became apparent that the manager didn't see any problem. After all, I had gotten the right final bill. She informed me that the clerk had missed the notation on the screen when processing my checkout. Now, I make plenty of mistakes...so I can appreciate the clerk missing. Of course, the clerk never owned up to missing anything, instead deciding to "trash" her employer ("that is the way our sytem is").

The manager's facial expression and comments quickly told me that she didn't see any problems...not in customer's having to remind the hotel of the free night or in an employee blaming the company rather than owning up to her oversight. She said she would speak to the employee but did so in a way that seemed more designed to just want to get me out the door.

I am much more forgiving of the frailties of front line personnel. I expected much better from a manager at the Bellagio.

So here is the moral to this story:

The Bellagio loses an opportunity to dazzle me due to two employees who apparently view customers as the problem.

Heck...no big deal. I am just a single customer.

Or, am I one of a number of Bellagio customers being served up for Steve Wynn's new hotel (as most readers know, Mr Wynn formerly owned the Bellagio and built the gorgeous Wynn a couple of blocks down the Strip).

Heck, in these days, a single disatisfied customer can tell friends...or post their story to a blog.

If you are a business owner or manager, are your efforts to adjust to the changed markets being sabotaged by some employees who don't understand that the only thing standing between them and being unemployed is a customer or two?

If you are an employee, are you sabotaging the efforts of your colleagues and your employer with your "I can't be bothered" attitude.

This downturn presents such great opportuntites for those who understand the new market realities. I have long believed that the customer is king (or queen). In this economic environment, every customer needs to be treated like a king!

Are You a Dinosaur?

Everywhere I turn, I am seeing dinosaurs. Good people, but people who see the world as it has been, and act in ways more consistent with times long gone.

I see business owners who are seeing things through the prism of their past experience, rather than drawing on their experience to fashion winning strategies for what is before them.

I see business executives who are doing likewise.

And, I see workers who are doing likewise.

Dinosaurs became extinct because they did not adopt to a changing environment they faced. People who do not quickly adapt to our changed environment face a fate almost as bad as extinction.

Let me be clear:

I am subject to the same risk of becoming a dinosaur as you are.

Like you, the lens through which I see the world is potentially clouded by years of experience.

But, I am determined to prosper in these times. I am committed to opening my eyes and mind to new realities. Each and every day, I am gathering new data points as to what is transpiring in the business world, in our society, etc. And, I am working more diligently than ever to process the data points.

You see, I have made a commitment to not become a dinosaur. What about you?

Investor Fraud Cases Just Keep Getting Discovered

Today's news that the SEC has filed fraud charges against Florida hedge fund manager Arthur Nadel is just the latest of fund frauds to be unveiled. Similar frauds have been unveiled in Pennsylvania, Indiana, and Texas in recent weeks.

The latest reported frauds are small compared to the Madoff fraud, but no less troublesome.

Regretfully, I am expecting many more of these frauds to be uncovered over the next six months. It is now clear that the underbelly of society was very active at taking advantage of the stock market euphoria that went on in recent years. Most of these type frauds should become self evident within like six months as investors seek to draw down investments due to their needs, and/or become more suspicious based on the publicity around these frauds.

But, here is what is really scary. These frauds were being perpetrated at a time when the economy supported legitimate business activity.

I am convinced that the dysfunctional economy will create a whole new wave of frauds.

Well intentioned, relatively honest people will find themselves with their backs to the wall...and some of these, will unfortunately choose the fraud route.

Just another of the sad societal effects of the economic meltdown.

New Hope

Today's inauguration of Barack Obama is uplifting the spirits of America, as can easily be seen by the record crowds braving the cold in Washington, DC and people everywhere glued to their TV sets to watch the happenings in our nation's capital. And, that is a great thing for our country needs a healthy dose of cheer after so many months of sour economic news.

The challenges before our new President are immense and he will need the help of all Americans to restore this country to its full greatness. As well said today by the lead editorial in USA Today;

"Obama takes oath amid great pride, promise, problems"

I am encouraged that, at every turn, the President is communicating that the turnaround will not be quick, and will not be easy. The sooner everyone absorbs this message, the sooner recovery will begin to start to take hold. The sooner people assume personal responsibility for their prosperity, the sooner our country will prosper.

This is a wonderful day to feel a new sense of hope. But, let no one forget that hope without action is not a cure.

What will you be doing differently, tomorrow, when the images of the inaugural splendor start to disappear in the rear view mirror?

Benefits of Recession

One of the many things for which I am perpetually grateful is the wonderful mentors that surround me. The wisdom of my mentors keeps my own thinking on track, no matter what else is going on around me.

Yesterday was a double treat in that I spent time with two of my mentors. In the afternoon, I had the pleasure of meeting with Mark DiSalvo, CEO of Semaphore and one of the smartest entrepreneurs that I know. (Sempahore is a Boston based consulting firm that advises clients on value creation in distressed VC funds and in portfolio companies.)

Friday evening, I was with another of my mentors: the fabulous Cheryl Richardson. Cheryl spoke at the launch event for her new book, The Art of Extreme Self Care. I love her new book as explained in an earlier post.

I was struck by the fact that both Mark and Cheryl articulated their hope (and expectation) that the current economic malaise is likely to produce societal changes that will be among the benefits of the recession. I am seeing the early signs of the same thing.

As just one of a number of examples which I could site, it appears that families are going to be forced to pull together to deal with the hardships emanating from the economic woes. That is a good thing!

Now, I am not a blind optimist! I am expecting divorce rates to climb as partners forced to start their wealth building anew will decide that they want to start with a new partner. That will be tearing some families apart. But, at the same time, I expect that more and more people will realize that the best cure for their woes is to not expect a Washington personal bailout, but instead to take personal responsibility for making good things happen. As they take such responsibility, I fully expect them to look to their family structure for all manner of support.

Let me be very clear. Long term societal benefits don't pay one's mortgage, or put food on the table. I got it! My point is solely that I expect a lot of good to come out of the recession. Your challenge...and mine...is to adjust our sails to take advantage of the winds of changes that are unfolding so as to prosper in the tough times immediately before us.

Business As Usual in this Recession?

I certainly hope that there are not many managers or business owners thinking "business as usual." In my regular forays into the market to assess changing conditions so I can better advise my clients on strategies, I see all manner of companies reacting to the downturn. That is the good news.

The bad news is that most are scaling back business as usual...but still doing business as usual.

The winners in this extended downturn will be those companies that completely rethink their business. Completely!!

Take the retail industry as one example (I have written about this industry in an earlier post on the impact of the recession on retailing). Retailers are scrambling to cut, cut, cut. But, what I am not seeing as much of is the complete rethinking of business models. Store locations, store size, store inventory levels and a host of other strategic issues need to be rethought. And quickly! Then there needs to be detailed planning as to how one transitions from today's model to the model of tomorrow. Quickly!

Business as usual, scaled back, is not what the winners will be doing.

Not at the business level or at the individual level.

Is your business or your employer changing to reflect the changing times that show every sign of being with us for an extended period? If not, what are you doing to get the powers-to-be to see the light?

These are truly times of wonderful opportunity for those with the vision to see things as they need to be in a changed world, the courage and skill to get constituencies to the right place, and the determination to make change happen. Quickly! But, thoughtfully!!

Building a Network BEFORE You Need One

I haven't done a survey on the subject (or read one done by anyone else), but my experience is that the vast majority of people pay little heed to their network until they need one.

Like I expect you are, I am getting an increased number of contacts from people I worked with years ago and haven't heard from since then. Now because I believe that those of who are employed need to try to do what we can to help those who are not, I respond to these contacts. But expecting people who you haven't talked to in 20+ years to do wonders for you is far from an ideal situation.

Having an effective network is like having money in a bank. You need to put "currency" in your network bank in the good times so that you have "currency" to withdraw in the tough times. The currency of networking is the good deeds you have done for others.

One of my mentors, the wonderful Zig Ziglar, taught me many years ago that:

You can get whatever you want in life, if you will help enough others get what they want.

Want to have support if you lose your job, or your business fails, then make your deposits starting TODAY! Give and you will be in a position to get.

It is never too late to start saving, and it is never too late to start giving.

In the last week, what have you done for contacts outside your immediate family to help them deal with these tough times?

Effective Networking Techniques

You can see light bulbs going off all across the country. People are waking up to the fact that they need to have an effective network to prosper in these tough times.

Unfortunately, so many people are clueless as to effective networking. It is one of those important life skills that, regretfully, are not taught in school or college.

Fortunately,

effective networking is a skill and, as such, can be taught.

(I have been teaching this skill to high-end professionals for some time).

Rather than pontificate about my own beliefs about effective networking let me recommend three of the best books I have ever read on the subject. All three are first rate. Before you invest another hour on networking, I strongly recommend that you read one of these three books. The two hour investment in reading through any one of the books will pay huge dividends.

My very favorite book on networking is Click, Ten Truths for Building Extraordinary Relationships by George Fraser. George does a great job of explaining the philosophy of "giving" that is the foundation for success in networking.

A close second is The 29% Solution, 52 Weekly Networking Success Strategies by Ivan Misner. This book is solid on the philosophy and very strong on the action steps needed to build a powerful network.

I hate to rank one of the three as "only" my third favorite as Jeffrey Gitomer's Little Black Book of Connections is well done, as are all of Jeff's books. (I think his best ever is his latest, Jeffrey Gitomer's Little Teal Book of Trust.)

No matter how badly you believe that you need to get networking immediately, please take the time to read one of these three books before you go off building a network like an amateur. Better yet, don't just read one of the books, implement the strategies! Become a master networker!! And, not just until you get a job. Power networking is all about being a giver, and that is something you can be with or without a job.

Many, many years ago, one of my mentors, Zig Ziglar, drilled into my mind

"you can get whatever you want in life if you will help enough others get what they want."

Commit, today, to live this philosophy for the rest of your life and you will prosper, no matter how difficult the times.

Coming Next: Building a Network Before You Need One, the third in this three part series on networking.

Networking for Jobs

I expect that everyone reading this blog has noticed an increase in the networking efforts of current friends. This most often manifests through requests for connecting on Facebook or LinkedIn. And, it is not just current friends requesting to link; I am hearing from friends that I have been out-of-touch with for more than twenty five years (that is nice benefit of this malaise).

The reason for the sudden interest in networking is obvious. Networking has long been championed as one of the best ways, if not the best way, to find a new job.

The question is whether traditional networking will work equally effectively in this downturn.

I think not. But, what do I know in a world where so many of the traditional rules are changing so quickly.

Networking made lots of sense to me when there are jobs available and the person looking for a job networked to find the proverbial "needle in the haystack." But, today, jobs are so scarce that networking to find a job is not likely to be as effective as in other times.

If I was without a job, I would network effectively, but I would couple that with an aggressive effort to convince an owner or manager that I could do a given job better than the incumbent. Ouch. Not the nicest of thoughts, in some ways. But, hasn't almost every job most of ever gotten been a matter of convincing someone we would to do a better job than the incumbent.

It is in targeting taking a job away that networking can be very powerful method of succeeding with this approach. Friends are generally willing to help when we ask them for something very specific. Merely asking friends to let you know if they see anything for you underutilizes your network.

Ultimately, the willingness of your network to help you...whether to find a job or to help you in some way to unseat an incumbent...is a function of the quality of your network.

I see so many people thinking that the name of the game is to build the biggest Rolodex, or the greatest number of contacts on LinkedIn. The secret of the best networkers has long been quality over quantity.

Coming Next: Building an Effective Network, the second in this three part series on networking.

Blame for the Recesssion

We live in a society that loves to blame others for our own ills. Can you believe that one of the most popular searches on Google is "blame for the recession."

Given the magnitude of the economic meltdown, there is plenty of blame to go around.

It is fashionable to blame "greedy wall streeters." But, greedy wall streeters could not have pulled this off were the rest of society not acting equally greedy.

Much of society was looking to be quick millionaires by leveraging up and hoping that asset values would rise quicker than debt costs. As a result, many were susceptible to all manner of scams, from outright frauds like Madoff to less benign investment schemes.

And, Washington politicians and bureaucrats did little if anything to stop us from our excesses. On either side of the aisle!

The better Google search might be "who doesn't share some of the blame for this economic meltdown."

But, what I can't figure out is why assigning blame is really important.

If you are fortunate enough to have a job, seems to make more sense to focus on saving your job.

If you have lost your job, seems to make the most sense to focus on finding a job.

How we got here is somewhat important so as to learn from the past. But, more important is for each person to quickly get on with self-rescue. Quickly!

Regular readers of this blog know that I believe that the sooner one embraces the recession, the sooner one will be on the road to prosperity.

Recession vs Depression

With the announcement each day of the latest bad news about the economy, it is only natural that many are beginning to wonder whether we are entering a depression.

I am not sure it makes a big difference what the economists want to call it. I get absolutely no comfort that some would emphatically suggest that we are not in a depression and that it is "only" a recession.

I am reminded of that very old sick "joke" about the difference between a recession and a depression. A recession is when your neighbor can't find a job. A depression is when you can't find a job.

As I travel the country serving my consulting clients, I am seeing a level of pain that I have not seen in my lifetime. And, my analysis of market factors for my clients has me convinced that this downturn will be long and deep, a belief I have stated here often since the inception of this blog last year.

Even the Fed, which is cautious about exacerbating the problem through negative talk, is now publicly reporting they expect this downturn to be a multi-year event.

Call it what you want. My bottom line is that I believe strongly that the sooner one repositions oneself to prosper in the downturn, the sooner one will experience prosperity.

Let the pundits debate whether it is a recession or a depression. Put your energy into crafting and then executing a plan for prospering in tough times.

Heck, it will be easy enough to go back to your good times plan when the good times eventually come.

Not Partcipating in the Recession

Regular readers of this blog, who don't otherwise know me, have likely concluded that I am someone with a very positive attitude. And as you might expect, one of the keys to such an attitude is too surround oneself with other can-do types.

As a result of the quality and nature of the people who are closest to me, I am frequently hearing the mantra that I am "not participating in the recession."

I love when I hear a friend, or for that matter anyone, express this attitude. But, I have grown leery about how some who express this view will do in the length and deep downturn I am on record as expecting.

I have come to recognize two types who are expressing this mantra. One type is espousing the mantra but doing little to adjust to meet changing circumstances. The other type has this correct attitude AND a solid action plan for adjusting to the changing times.

Reminds me of the Law of Attraction division. There are those that put their full faith in the concept, but expend little effort to make things happen. Then, there are those that have the faith and the right actions. For the latter types, the Law of Attraction does provide results.

Merely saying you are not participating in the recession is unlikely to lead to prosperity. Coupling that attitude with the right changes will lead to prosperity.

So, what about you? Are you participating in the recession? Or, have you decided to not participate? And if you have decided not to participate, do you have the action plan and requisite commitment to make the changes necessary to prosper in these tough times?

I am hoping that each of my friends are in the latter category. As I hope that you are!

Protect Job in Bad Times

With every new announcement of layoffs, it becomes ever more important that if you have a job, you should protect yourself...best that you can...from losing your job.

One of the most popular of my blog posts was a post on 5 Tips for Saving Your Job, published back in October of last year. Recently, I came across an excellent book on the subject by executive recruiter Stephen Viscusi. Bulletproof Your Job can make the difference between having a job and being a part of the tragic rising unemployment statistics.

I expect that some employers will be reading this thoughtful book with the thought of using it as a template for the higher expectations they can have of employees in this labor market. Which means this is book is a must read for anyone with a job.

What is fascinating to me is to think of the higher productivity that could be achieved in this country if Viscusi's recommendations became the norm for the behavior of employees.

Achievement Journal Power

Millions of people around the world are believers in the power of journaling. So too am I. And in 2009, I will be using the power of journaling as just one of many tools to assure that the year is a great one for me.

Now, as you may know, there are many forms of journaling. I learned a lot, over the last year, about the various forms of journaling from Kay Adam's Journaling for a Better Life weekly radio show on Exceptional Wisdom Radio . Kay is the founder of the Center for Journal Therapy and widely regarded as one of the world's leading experts on the power of journaling.

Blogging is a form of public journaling. And, in 2009, writing this blog 4-5 times per week will be as helpful for me, as I hope it will be for readers of the blog.

I am also using an "achievement journal" for the first time in 2009. I was introduced to this concept by the writings of the fantastic Judi Moreo. Judi created the first achievement journal I ever saw as a companion to her book You Are More Than Enough. Her achievement journal is a beautiful tool.

I will be using my own unique achievement journal as a way to record my successes throughout 2009. Besides giving me the positive reinforcement of a sense of progress, it will also be a powerful motivator to get big things done on a regular basis. I am just not the kind of person that wants to have a week go by without a listing or two, or three, in my achievement journal.

If you haven't yet learned about how journaling can help you, especially in challenging times, I highly recommend that you learn more about journaling. Kay Adam's radio show will quickly convince you of some of the many benefits of journaling.

Best Day of My Life?

Well, certainly this will be the best day of the new year. Geez, it is the only day of the new year.

But, best day of my life? Wow, that is one tough standard. OK, so let us relax the standard just a tad. Has this been one of the best days of your life?

If 2009 is going to the best year of our life,

then we need to have a lot of days that are

among the very best days of our life.

As I write this in the early evening of the first, I have to say that this day has been delightful and I have done some important thinsg to help others, but hardly a day that ranks as one of the best days of my life.

Fast forward, multiply the kind of day you had today by 365. In my case, based on what I have done so far today, the resulting multiplication leaves me far short of having one of the best years of my life. Ouch!

So, I face the kind of choice that all of us face when we set a goal and quickly fall off track. I can give up...or I can resolve to quickly get back on track.

That is an easy choice for me. What about for you?

I am getting back on track...right now. I am off to write some LinkedIn recommendations that will start the new year off right for people who are important to me.

What is something that you could do, yet today, that would make this a productive day for you?

You can "save" the day. It is within your power, as it is for me, to make it a good day, even if not quite one of the best days of my life.

A defining moment in our life...one that happens almost every day...is what we do when our day is not shaping up to be one of the best days of our life.

We can resign ourselves to be less than our best, or we can quickly get back on track.

Best wishes that you make your day one of the best in your life and your year one of the very best in your life.

PS Want to make 2009 one of the best years of your life? Then read the six part series, Countdown to New Years, that concluded yesterday. The series starts here.