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Volumn 2, Issue 8
April 16, 2008
Susan L. Reid, Publisher & Founder
Small Business Start-up Coach & Consultant
Author of Discovering Your Inner Samurai:
The Entrepreneurial Woman’s Journey to Business Success
Mary Ellen Whitaker, Editor
The newsletter for today's entrepreneurial business woman
Today’s Topic: Thriving through Recessions
In This Issue
- Note from Susan
- Featured Article: How to Thrive through This Recession, Jack Canfield Style
- Support for Your Journey
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Note From Susan
Greetings, Fellow Entrepreneurs!
This issue focuses on how to thrive through this and any future recession. Notice that I said “thrive”, rather than “survive”?
When I was in England last week, the Brits were talking about the U.S. recession and fearfully speculating about how it would affect the rest of the world. I sat next to a couple on the plane who went on and on about how terrible it is that we are in a recession. At a family gathering earlier this week, this was also the hot topic. And, the whole time, I thought to myself, “Recession? What’s the big deal?” Recessions come and recessions go. They are a natural ebb and flow in our economic cycle. They need not be feared. In fact, they should be welcomed.
Now, I know that is not the popular way of thinking right now. However, if you know anything about energetic alignment, then you know that you are in complete control of how you move through this recession. Will you thrive or will you just survive? Read How to Thrive through This Recession, Jack Canfield Style to learn what you can do to come out of this recession stronger than ever.
How to Thrive through This Recession,
Jack Canfield Style
We’re hearing a lot about the economy lately.
In fact, just this week, Alan Greenspan actually said “the r word” by announcing that the United States is in a recession. Our last recession, from 2001-2003, was due to the collapse of the dot-com bubble, the September 11th attacks, and accounting scandals such as Enron. There were also recessions in the early 1990s and early 1980s.
In fact, for the last 30 years, the U.S. has gone through a recession once every decade. There’s no indication that this will change in the future. Burying your head in the sand will certainly spell disaster for your business. Gritting your teeth to weather the storm will only increase your blood pressure and keep you up at night.
The good news is that a recession is not a depression. It’s unlikely that we will ever go through something like the Great Depression again. However, it’s quite possible that this will not be our last recession. To be successful, you need to become informed about what a recession is and what steps you can take to thrive in the midst of one.
What is a Recession, and What Can You Do about it?
A recession is a period of temporary economic decline during which trade and industrial activity are reduced. It is identified by a decline in a country's gross domestic product (GDP), or negative economic growth, for two or more successive quarters. In short, a recession means a steady, prolonged decline in sales.
As a small business owner, you’ve experienced a decline in sales before. It’s a normal part of any sales cycle. Question is: When you’ve had a drop in sales in the past, what did you do? Did you just wait, hoping for things to get better? Or, did you take decisive action to nip things in the bud and turn things around? If you are a successful small business owner – someone intent on creating a constant and steadily increasing cash flow – then you know the importance of taking informed, resolute action.
Jack Canfield, too, knows about decisive action. He’s famous for his rags-to-riches story of how he committed to contacting five people a day to promote his book, Chicken Soup for the Soul. The key to his success was his commitment to action. Not just any old action, mind you. Aligned, well-thought-out, purposeful action. Jack knew he had a monumental task in front of him: promoting an unknown book by an unknown author. Each day he took action to increase name recognition, forge connections, and build sales.
Five Simple Steps for Thriving through a Recession, Jack Canfield Style
1. Get back to basics
Recessions are good for all things that begin with “re.” Re-group, re-organize, re-view. Revisit the fundamentals that have already made your business a success. Revise your mission statement to stand for what your business is really all about. Reject rejection. Practice Jack’s “Rule of Five”: Every day, do five things that will move you toward your goal.
2. Clean up your act
Recessions are a great time, Jack advises, to clean up your messes. Now, when sales are slow, finish anything that is incomplete. De-clutter your office and organize your files. Make phone calls to bridge any disconnects that may have occurred between you and your customers. Magnify your success energy by focusing on what you want to happen, not what you are experiencing.
3. Focus on your connections and relationships
Recessions are the perfect time to forge new connections and strengthen long-standing relationships. Practice uncommon appreciation. Review your agreements with clients and confirm your commitment to them. Speak first and with integrity. Be impeccable in your communication. Meet for breakfast instead of over the phone. Supplement emails with handwritten cards and notes.
4. Be smart with your money
Recessions are the natural time for small business owners to review their financials. Take a look at your cash flow. Collect on any outstanding accounts. Don’t fall into lackful thinking by clutching and holding onto your money. Spend wisely. Make sure your bills are paid. Above all else, give more. Keep your energy flowing by finding a way to serve others.
5. Step back
Recessions are the ideal time to practice stepping back in order to keep things in perspective. Instead of energetically aligning with all the fears, doubts, and anxieties associated with a recession, step back and move to higher ground. Don’t get caught up in others’ panic. Soar above it all to a place where clarity can be gained and perspective maintained. While you’re at it, take others with you. As Jack says, “When you lift up others, they will lift up you.”
No one likes feeling uncertain about the future. Yet nothing is ever certain, whether or not we’re in a recession! By taking decisive action now, you can positively influence your future. When this recession ends, don’t let your company be one that just managed to survive?
Practice Jack’s Rule of Five and thrive.
Copyright © 2008 Susan L. Reid, DMA
Support for Your Journey
We're here to support you on your journey to business success.
If there is something you’d like to see offered that is not listed below, please let me know. If you have a business question that you’d like my perspective on, email me.
I’d love to hear from you, and I read every email personally.
Send your inquiries and thoughts to me.
On April 4th I turn 50! I know, I know, hard to believe isn't it?
To celebrate my birthday, I’ve decided to do something that I have long admired in the Native American and Japanese traditions: I'm going to give to others for my birthday. To help me do that, I've updated my blog with a fresh new look and loaded the right- and left-hand columns with free gifts and giveaways.
One of the things I've done is work with my publisher to create an Author's Birthday Special. Here’s how it works. Click on the image of my book and start down the ordering process. Enter *SLR 101* in the box during check out, and you will receive a 20% discount off my book. Nifty, huh?
Do make sure you stop by and celebrate with me. I'll have surprises and free giveaways all through the month of April.
Come, and tell all your friends!
Accidental Pren-her™ Show Interviews
Today's special guest is Jina Daigle
Jina is Founder and Owner of Creative Team Solutions. After struggling through the dead-ending of one career path, Jina took some time and went inward to find out what was important to her. As a result, she was able to connect with her passion and turn that into a successful small business as a trainer, facilitator, and life coach.
The inspiring part of this interview is the wisdom Jina imparts at the end when she says, "Be comfortable with being uncomfortable," and "Trust the process and your inner knowing."
Listen to Jina’s inspiring journey from Accidental Pren-her to successful small business owner.
Discovering Your Inner Samurai Blog
“Oprah and Tolle – Breaking Free of the Pain Body” – I've been a fan of contemporary spiritual teacher Eckhart Tolle ever since his first book, The Power of Now, came out. So when A New Earth came out a couple of years ago, I pounced on it. So has Oprah! Click here to read about what is being discussed on her fabulous new web event.
“The Success Principles” – While on holiday in Kent, I read The Success Principles by Jack Canfield. When it comes to success, Canfield reigns supreme. As co-creator of the wildly successful Chicken Soup for the Soul series, he really knows success. Want to find out more? Here’s my review of his book.
“Leave Your Mark” - As entrepreneurial women, we leave our mark on each and everyone of our clients and customers. We leave our mark in big and small ways by everything that we say and do. And these marks have life. They are passed on to others, brought back to haunt us, and added, layer by layer, to make a lasting impression. Read how people left their marks with me while I was traveling in Kent, England.
“Be a Clickable email Sender” – We all have a Mike in our lives. You know, the weekly mass-email-sender friend. I actually have two such friends. The difference between them is that the mass emails Mike sends out are meaningful. Read how Mike gets my attention.
If you'd like to receive e-mail notification whenever I add a post to my blog, enter your e-mail address into the upper left corner of the blog. After you click on the confirmation e-mail from Feedblitz, you'll be all set!
Come. Embrace your Inner Samurai and add your voice.
Reader Q & A
Q: “This is my first recession as a small business owner. What do I do? How do I get through it?
A: I so do appreciate your asking this question. For one thing, it tells me that you are not someone who is going to put her head in the sand and hope it goes away. The next thing your question tells me is that you are intending to come out the other side with your business intact. Well done, you!
Besides what I wrote about in the above article, here are some more helpful tips:
- Consider taking out a line of credit against any emergency.
- Consider moving your business into the global market.
- Web faxing is cheaper and greener than traditional faxing.
- Favor greater agility over lowest cost.
- Have your growth plan ready to put into immediate action when the economy picks up again.
- Use social media applications for marketing.
- Lower your overhead.
- Negotiate better deals with your vendors.
Tip: Keep in mind that there is nothing unusual about a recession. It is part of the natural ebb and flow of all things, and when seen from that perspective, it can be welcomed.
Have questions? Want answers? Send your questions to me.
Learn More About Our Services
Small Business Start-Up Coaching for entrepreneurial women ready to transform their lives and position their business for success.
One Page Business Plan for those who want to complete their business plan in as little as three weeks without all the stress and frustration associated with traditional business plans.
Link to our books, calendars, cards, home office products, and fun gifts. WHO has time to search all over our website for all the above? Today’s entrepreneurial woman doesn’t; that’s for sure. Here’s the one-stop-shopping link to do all that for you.
About Alkamae and Susan L. Reid
The entrepreneurial woman begins imagining her future the moment she starts thinking about striking out on her own and starting her own business. She thinks about what the business will become, the lives she will touch, the people she will help, the flexibility she will have, and the money she will make. She imagines building a business around her value system, her passion, and what’s important to her. She envisions a business that fits beautifully into her life. In short, she dreams about building a business from the inside out.
Unfortunately, no one hands her a manual explaining how to build a business from the inside out. That is, until now.
Alkamae™ is the place where entrepreneurial women come to transform their lives and make a difference in the world by starting up successful small businesses. Specializing in intuitive small business solutions, Alkamae offers strategic consulting including One Page Business Plans, niche clarity programs, and attraction-based marketing tools.
Susan L. Reid, DMA, is the founder and owner of Alkamae. As the author of Discovering Your Inner Samurai: The Entrepreneurial Woman's Guide to Business Success, Susan has helped hundreds of women create a vision for themselves that connects their passion to sustainable profit and combines their inner wisdom with savvy business skills.
Would you like support on your journey to business success? Interested in finding out more?
Your journey begins here!
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