Don't Let A Word Hold Your Business Back

The media is constantly bombarding us with the word "Recession." We hear it on the news, TV, and Radio. We read about it on the internet, in newspapers and magazines. The word is everywhere!

Words are powerful and trigger certain emotions and feelings. We hear the word "recession" over and over, and each time it causes more anxiety, fear and uncertainty.

So its only a matter of time for some people allow the media to take control of their thoughts and make recession a self-fulfilling prophecy.

Remember stay out of the drama, remove the emotions and look at the current reality in your specific situation. Are things really that bad in your business? According to the latest financial statistics GDP is up and consumers are spot spending. The only business sectors that may be in a so called recession are housing and financial

Here are three reasons why:
Financing- The sub prime mortgage crises. A group of over zealous mortgage bankers sold mortgages to a group of un-qualified and irresponsible buyers. In turn, things went haywire and out of balance, when these folks could not make good on their mortgage payments. The banks took a huge hit. Now they are calling it a recession.

Housing- There are large inventories of unsold properties on the market today due to unrealistic pricing. If you really want your property to SELL, price it RIGHT. Serious sellers price property at today's market price/value. Pricing your property as you would 2 yrs ago when Real Estate was booming and maybe even over valued will never sell you home.

All of this reminds me of the dot com boom and bust back in 2000. Overpriced stocks, folks buy at higher and inflated values the market goes bust. We experience a slow down. Today that situation is balancing itself back. The wise consumer will look at their portfolio and make the necessary changes to re adjust their financial picture in align with their financial goals and the current market conditions.

What it takes is properly identifying the situation by looking at your own current realityand taking action towards intelligent changes that make sense for you and your business. You have control here.

Are we in a recession?

In a way, yes for some industries- not all!
A recession is a slowdown in the economy. It is a normal economic cycle, triggered by a convergence of specific events, causing fluctuations in the economy. Prices go up and down. We experience periods of growth and we experience periods of slow down, instability, and a decline in economic trade and prosperity.

The sub-prime mortgage crisis and housing are examples. Are we seeing over zealous consumers? No but we are seeing consumer spending with a bit of belt tightening. You can turn this into a positve by taking precautions and building reserves two key actions to take during economic slow downs.

As history shows, Recessions are temporary they will pass. Consumers need to take precautions, but giving into to despair and fear will only set you back more. A recession is really nothing more than the economy self-correcting itself.

Recession is a word.

Realistically, there's nothing you or I can really do about a recession. Economic fluctuations happen and unfortunately we don't have control over the media or the Federal Reserve Banking Systems. Look to what you do have control over and that is your thoughts and actions. Remember: Recession is a word. So why waste time troubling over it? Take action to move your forward to success!

A more positive approach is to focus on what you do have control over. Consider ways to harness the negative energy the word ression brings, and turn it into constructive situations for you and your business.

Looking at these economically challenging times with a new set of eyes will make a positive difference for you and your business. Start by thinking positively and by taking some creative actions- try something fresh and different.

You can look at this period as a time to develop break-through opportunities for yourself and your business. This alone can be exciting, challenging and stimulating.
You have the control here. You can choose what you think and what you do and turn these economically challenging times into financially successful times.

Here's how:
Use the marketing word. Believe it! Now is a perfect time for you to take an assessment of the way you think about your business.
Ask yourself these three questions:
1. Where are you?
2. Where do you want to go?
3. How am I going to get there?

Then expand your definition of the word Marketing as follows:

Marketing is anything you do in your business that that will either promote or
prevent the sales of your product or service.
Anything! Not just your logo, web site or brochure. It is the overall impression customers/clients receive when they interact with your business.

Does a live person answer the phone after three rings and are they informed? Are calls returned promptly? How easy is it for your customers find what they want and make their purchase in your store? Will your customer/client have a pleasant, positive experience?

Contact me to obtain my 10 elements of strategic marketing that you can apply to your business.

Each of these strategies will lead you on a path moving forward towards growth and success. You never know what is waiting out there for you if you do not take the risk to change your thinking and try something new.

If you get stuck, drop me a note and we can work on it together.