Why are some businesses thriving in these uncertain times? (Part 1)

Does this story from the owner of a small CPA from sound familiar?
5 new Clients. In the last 30 days. There are a half-dozen more prospective Clients scheduled for initial consults.  With a big smile, eyes beaming, this excited CPA shared these numbers – yesterday.  Music to my ears in this economy!!

How did she do it? Moving outside her comfort zone with a new approach to taking control of referrals.

Are your competitors pulling in new business that should have been referred to you or are you seizing opportunities for strong referrals?

The Rodeo’s Getting Rougher…Foreclosures Jump!

Foreclosures spiked up during the first quarter of 2010.  California accounted for nearly 25% of all foreclosures, according to Yahoo! Finance.   California’s statewide 90-day moratorium on foreclosures pushed many into 2010.  If that’s the main driver there should be a similar rate (1 in 62 properties) or even an increase during the second quarter.  Nationwide, high unemployment has been pushing many homeowners over the edge.  This doesn’t bode well for any economic recovery in 2010.

Power Branding: 4,121,233 Views In 3 Days!

“Will It Blend?”  That phrase and frequent video demonstrations put Blendtec on the Internet’s viral map.  Why?  Their current use of Apple’s massively publicized iPad introduction clearly answers that question.  Blentec has racked up more than 4 million views in 3 days  with their latest must see video:

The iPad: Will It Blend?

2010…Here we go!

Riding in a rodeo provides a fantastic analogy for the launch of this new decade.  I feel bruised from last year’s wild ride.  How about you?  Yet, the experience has provided valuable learning opportunities which have resulted in new insights.  So, as last year’s bruises continue to heal it’s not as daunting to get back into the rodeo this year.  More bucking bronco’s and wild bulls.  There’ll be more bruises, too. I’ve no doubt that 2010 will be another wild ride.  Even if the economy turns for the better there will be a lot of turbulence.

Seth Godin summed it up rather pointedly in a recent blog post titled “Welcome to the frustration decade (and the decade of change)!”  He predicts 2 trends for the coming decade: Change and Frustration.

You get to choose which trend to follow…..

Attitude Is Our Biggest Asset….

Or our greatest liability! 

Good news: It’s up to us!  We can decide which it’ll be – Asset or liability?

We certainly live in interesting times.  The economy.  Terrorism.  Fill in the ____________!  What’s your most disturbing concern?  Don’t say it out loud.  Reflect on it for a moment.  How does it affect your attitude?  Your behavior?

Personally, I can get “a bit” cynical (the StealthWife believes that to be a gross understatement!) in response to external concerns.  With my attitude in a cynical tail spin it’s hard to find a way through the uncertainty, turmoil, and seemingly-daily crisis swirling around the public domain.  “Everything’s broken! Argh!!”  That’s an all-too-common refrain these days. 

“The Carnegie Institute not long ago analyzed the records of ten thousand persons and concluded that 15 percent of success is due to technical training.  The other 85 percent is due to personality, and the primary personality trait identified by the research is attitude.  Our attitudes determine what we see and how we handle our feelings.  These two factors greatly determine our success.”  – Developing the Leader Within You, John Maxwell.

Consider the implications of Dr. Maxwell’s statement: “Our attitudes determine what we see….” 

As 2010 closes in on us, will our attitudes cloud our vision – blinding us to opportunities that surely lie in the uncertainty we face? Personally, it doesn’t  feel like I’ve got clarity on potential opportunities.  Yet,  in September I  started talking with people about plans for a successful 2010.  Does that make me more prepared or give me a competitive edge?  Maybe.  It has dramatically shifted my attitude about the coming year.  I’ve stepped up to apply the Stockdale Paradox* to my attitude for 2010.  And with grim determination I’ve committed to making my attitude a game-changing asset for a successful 2010.  Opportunities to learn abound with the right attitude.  For example, last Friday I spoke with someone who experienced 30% growth in their business in 2009.  I booked a lunch meeting to learn more.  Carpe diem!

How about you?   Are you reaching out more?  Learning more with the intent to find a positive path through the continuing economic storm?  Or are you “hunkering down” to weather the storm (hiding in the cellar until the tornado passes)?

Remember what Dr. Maxwell teaches:  “Our attitude determines what we see….”   My experience has been that when I don’t like what I see, striving for change from the inside out results in a new picture.  It doesn’t make reality or real life challenges go away.  A change in attitude empowers us to find solutions to seemingly impossible situations.   Being an “inside job” it’s also something we can control!

As New Year’s Eve approaches, perhaps searching deep in your heart and reflecting on this question could have an enormous impact on your life in 2010:  Will your attitude be a liability or your biggest asset?

*If you’re not familiar with the Stockdale Paradox, Jim Collin’s Good To Great And The Social Sector is a must-read.  The Social Sector monograph provides an excellent summary of the original book. along with new insights.  Jim Collins’ interview with Admiral Stockdale in Good To Great provides invaluable insight into the power of attitude.

Returning Soon…

….to blogging!  I’ve been out with the flu and pneumonia.  I’ll be posting on a regular basis again very soon.  Thanks for your patience!

A Time For Analogies, Not “How-To” Manuals

Seth Godin’s recent blog post, “Learning By Analogy,” provides an excellent insight for finding a path through the current economic environment.  Analogies and lateral thinking can yield innovative, lower risk innovations – and a powerful way to move forward when everyone around you’s treading water.

Fannie & Freddie: Clean-up or Cover-up?

Huffington Post called attention to mortgage giants Fannie Mae and Freddie Mac firing their Inspector General.  Fannie posted a loss of nearly $19 billion last quarter – that’s a lot of money to lose in 3 months – and more than a 26% quarter-to-quarter increase.  The Federal Treasury has been asked for another $15 billion to cover continuing losses.

Could there be another crises looming at the scandal ridden Federal mortgage giants?  Why would these feds fire the Inspector General charged with oversight?

Unemployment Heading Over 12%?

Reuters reports “12 reasons unemployment is going to (at least) 12 percent” with an ominously compelling argument.  A key point to this analysis – unemployment increases after recessions end – focuses on historical trends for prior recessions.  After the last two recessions, unemployment continued to rise for more than a year after the technical end of the recessions. 

Given the depth of this recession unemployment continuing to rise well into 2011.

SEMPER FI! Happy Birthday, U.S. Marine Corps!!

Serving with distinction since November 11th, 1775 -  THANK YOU MARINES!