Everyone I know is reading the tea leaves in hopes of knowing what 2009 will bring for their businesses. Unfortunately, the tea leaves aren't telling us much. Right now, fear is the primary motivator for many. I just returned from a meeting of CPAs and estate planning attorneys. They related that even though now is a perfect time for their clients to make gifts and engage in other estate planning, business is sluggish because their clients are afraid.
I have friends with aunts (why is it always aunts?) who have always stashed cash inside old shoes and in freezers. I bet that they are not alone any more. After a morning of scanning the headlines, I'm just about ready to find an old pair of tennis shoes and see how many $20 bills they will hold.
However, as I have said before here, fear can be a powerful motivator if we embrace it. In Men's Health, a former Navy SEAL provides 6 steps to mental strength and they know something about mental strength. #3 on the list is "Allow Yourself to Fear."
Some people become afraid, and they find it overwhelming. When that happens, reach out to family, friends, or colleagues. Fear is a shared experience—you'll get a lot of energy from the people around you. Being okay with being afraid is the first step to overcoming it.
Good advice. Another piece of good advice as we attempt to read the tea leaves comes from Seth Godin in his post "Lesson Learned From My Biggest Business Mistake." What was the lesson?
Whatever 2009 brings, I am fairly sure that the rules of our existing businesses will not match the rules of new business. So I am vowing to allow myself to fear, to use it as a motivator, and to get up above the fog and try to discern where and what the new business will be. Then, I and my firm will attempt to position and/or reposition ourselves and profit. What about you?
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