How to Thrive in a Recession
Be ready to deliver value wherever you may be., Let others see the value of your knowledge., Ask others to tell you what are your best and worst traits and skills., Devise a creative approach using your best skills and traits to entice more...
Step-by-Step Guide
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Step 1: Be ready to deliver value wherever you may be.
To thrive in a challenging economy you must do the same as you would in a growing economy
-- position yourself to deliver value that matches your expectation of compensation.
Most people do only enough to get by, to get the work done and go home.
Because of that, they deliver minimum value to their employer or customer, and are compensated accordingly.
In good times, that may be enough to keep your job, but... in a down economy the recipients of your services will do the same as you would – hunker down, protect cash flow and cut costs as much as possible in areas that do not deliver as much value as others – you.
Sometimes the only source of inventory for the services you can provide is your wetware
-- otherwise known as a "brain." -
Step 2: Let others see the value of your knowledge.
To make yourself more valuable to your customers or employer, you have to find ways to make your knowledge and services more valuable.
To make your knowledge and services more valuable, you have to increase the value of your knowledge and services.
Delivering value is very simple
-- identify the expectations of your customer or employer, then deliver your services in a way satisfies the recipient by meeting or exceeding those expectations. , Your friends will certainly have opinions, but you may want to ask them to write them down with a computer and print them out without identifying information.
Some people call this a 360-degree evaluation, and it can be a real eye-opener.
You may find out things about yourself you thought no one else noticed, but keep an open mind and do not take any negative comments personally
-- those are opportunities for improvement! , More often than not, people already have the potential to offer more value, but do not know it, and therefore do not know how to exploit that potential.
For example, anyone can ask for a job, but few people ask employers or clients for an opportunity to contribute to their bottom line and be paid accordingly. ,, This implies having a vision of your goal.
Your journey must have a destination, otherwise you will meander and achieve nothing. , If you use a GPS to get somewhere, the GPS will not be able to help you unless it can see satellites.
Without that information it cannot tell you where you are, where you have been, what path to take to your destination.
This is called "baselining" and gives you something to compare to judge how much progress you have made towards your goals. , Any complex undertaking can be simplified by dividing it into manageable chunks.
Devise a simple, straightforward plan that covers daily, weekly, monthly and quarterly activities and goals. , At a daily level, look at yourself in the mirror, remind yourself this will be another outstanding day, and take a look at your list of goals.
At the weekly level, review your accomplishments and plan for the next week.
Every quarter, review your progress so far and determine what adjustments must be made.
At the yearly level, celebrate your accomplishments and review any areas where you fell short of your goals as opportunities. , You should never second-guess yourself just because you think something cannot be accomplished.
The only limitations you have are the ones you create in your own mind.
If you have any doubts about that, ask any Marine how he/she managed to make it through Boot Camp. (Hint:
All it takes is wanting to do so.) , One of the benefits of the Internet is that it shrinks the world into a manageable size through the use of business and personal networking services such as LinkedInand Facebook.
Do not be afraid to make contact with potential customers in other countries.
There is no such thing as a language barrier on the Internet, not since Google introduced their Translateservice.
It may not be 100% perfect, but it doesn't need to be! , The concept is the same as giving free samples.
Helping people by answering questions on the Internet in your area of expertise, for example, can go a long ways to establishing business contacts that could lead to profitable relationships.
Be careful to pace yourself, though, and remember that the idea is to make money in the process. , You never know when you will need reserves to take advantage of an opportunity or to get you over a dip on the road to success. , It is not possible to be successful without taking risks.
However, it is possible to take calculated risks by doing your homework and identifying the threats to your goals so you can plan how to keep them from turning into vulnerabilities.
Coin collectors call it "Buy the book before buying the coin." Remember as well that if it sounds too good to be true, it probably is. , Remember, no matter how bad things are for you, there's always someone worse off, and even when you think you have hit rock bottom, there is always only one way to go
-- UP! , Life is short, and you will not be able to take anything with you when it is time to check out. -
Step 3: Ask others to tell you what are your best and worst traits and skills.
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Step 4: Devise a creative approach using your best skills and traits to entice more customers to use your services.
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Step 5: Picture your path to success as a journey
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Step 6: and set a path for yourself to your goals.
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Step 7: Visualize where you want to be in one month
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Step 8: six months
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Step 9: a year and five years from now.
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Step 10: Sit down and write a page describing to yourself where you are now.
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Step 11: Make an outline of steps that describe to yourself how to get to your goals using "divide and conquer."
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Step 12: Regularly review your goals and adjust your actions to match.
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Step 13: Do NOT change your goals on a whim.
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Step 14: Microglobalize.
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Step 15: Share your knowledge.
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Step 16: Remember to save a little out of every dollar you make.
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Step 17: Be prepared to take risks.
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Step 18: If you fall down
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Step 19: get up and keep going.
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Step 20: Most importantly
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Step 21: enjoy the journey.
Detailed Guide
To thrive in a challenging economy you must do the same as you would in a growing economy
-- position yourself to deliver value that matches your expectation of compensation.
Most people do only enough to get by, to get the work done and go home.
Because of that, they deliver minimum value to their employer or customer, and are compensated accordingly.
In good times, that may be enough to keep your job, but... in a down economy the recipients of your services will do the same as you would – hunker down, protect cash flow and cut costs as much as possible in areas that do not deliver as much value as others – you.
Sometimes the only source of inventory for the services you can provide is your wetware
-- otherwise known as a "brain."
To make yourself more valuable to your customers or employer, you have to find ways to make your knowledge and services more valuable.
To make your knowledge and services more valuable, you have to increase the value of your knowledge and services.
Delivering value is very simple
-- identify the expectations of your customer or employer, then deliver your services in a way satisfies the recipient by meeting or exceeding those expectations. , Your friends will certainly have opinions, but you may want to ask them to write them down with a computer and print them out without identifying information.
Some people call this a 360-degree evaluation, and it can be a real eye-opener.
You may find out things about yourself you thought no one else noticed, but keep an open mind and do not take any negative comments personally
-- those are opportunities for improvement! , More often than not, people already have the potential to offer more value, but do not know it, and therefore do not know how to exploit that potential.
For example, anyone can ask for a job, but few people ask employers or clients for an opportunity to contribute to their bottom line and be paid accordingly. ,, This implies having a vision of your goal.
Your journey must have a destination, otherwise you will meander and achieve nothing. , If you use a GPS to get somewhere, the GPS will not be able to help you unless it can see satellites.
Without that information it cannot tell you where you are, where you have been, what path to take to your destination.
This is called "baselining" and gives you something to compare to judge how much progress you have made towards your goals. , Any complex undertaking can be simplified by dividing it into manageable chunks.
Devise a simple, straightforward plan that covers daily, weekly, monthly and quarterly activities and goals. , At a daily level, look at yourself in the mirror, remind yourself this will be another outstanding day, and take a look at your list of goals.
At the weekly level, review your accomplishments and plan for the next week.
Every quarter, review your progress so far and determine what adjustments must be made.
At the yearly level, celebrate your accomplishments and review any areas where you fell short of your goals as opportunities. , You should never second-guess yourself just because you think something cannot be accomplished.
The only limitations you have are the ones you create in your own mind.
If you have any doubts about that, ask any Marine how he/she managed to make it through Boot Camp. (Hint:
All it takes is wanting to do so.) , One of the benefits of the Internet is that it shrinks the world into a manageable size through the use of business and personal networking services such as LinkedInand Facebook.
Do not be afraid to make contact with potential customers in other countries.
There is no such thing as a language barrier on the Internet, not since Google introduced their Translateservice.
It may not be 100% perfect, but it doesn't need to be! , The concept is the same as giving free samples.
Helping people by answering questions on the Internet in your area of expertise, for example, can go a long ways to establishing business contacts that could lead to profitable relationships.
Be careful to pace yourself, though, and remember that the idea is to make money in the process. , You never know when you will need reserves to take advantage of an opportunity or to get you over a dip on the road to success. , It is not possible to be successful without taking risks.
However, it is possible to take calculated risks by doing your homework and identifying the threats to your goals so you can plan how to keep them from turning into vulnerabilities.
Coin collectors call it "Buy the book before buying the coin." Remember as well that if it sounds too good to be true, it probably is. , Remember, no matter how bad things are for you, there's always someone worse off, and even when you think you have hit rock bottom, there is always only one way to go
-- UP! , Life is short, and you will not be able to take anything with you when it is time to check out.
About the Author
Daniel Martinez
Experienced content creator specializing in pet care guides and tutorials.
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