Archive for November, 2009

“We just don’t do that in this industry!”

Dave Thomas, founder of Wendy’s, is credited with creating the first car lane drive-up window in the fast food business. Rumor is that he got the idea from sitting in a car lane at his local bank. What can you do that works in another industry that “you just don’t do” in your industry?

The Economy is 20% fact and 80% Fiction

Notice that negative economic times are referred to by psychological emotions: depressions, panics, recessions. Observe the way that feelings determine the ups and downs of the stock market. The negative attitudes that the media and the general public adopt influence the market hourly. Your emotions must be in check to seize opportunities that abound in the market every day.

How are you punishing your customers for doing business with you?

Have you ever called a service provider and been unable to get through the multiple voice mail options? Are their procedures that customers must abide by to get regular service? Do people like doing business with you or do they complain about how hard it is to reach someone or get a need taken care of? The president of most companies ought to call the customer service line once a month to see what the experience is like.

Seek to Make Changes by Addition

Almost everyone equates change with loss. We think first about what we are going to lose. People are more prone to accept change when you sell the benefits to them. It helps them focus on “gain” rather than “loss.”

Think about basic changes you have been forced to make. If you didn’t initiate the changes you thought about first what you would miss? Your people will begin to focus on gains as well.

The best time for opportunity is when the world is in a fetal position.

Panics are the best time for level-headed leaders to take command. While everyone is running around screaming, “The sky is falling” you can seize the moment and the market. Also, most panics result in
advances in technology. During the Great Depression, air conditioning was invented and it forever changed life and business in the Southeast and Southwest. During the recession of 2008-2009, social media (Face Book, Twitter, Linked In, Blogging, etc. ) forever changed the way we communicate.

Develop a Support Group

Work to build a group around you to support you and challenge your thinking. Find people you can be open and honest with. People you are transparent with, who don’t mind telling you the truth, but are
encouragers of you and your goals. Take them away for a retreat to build community with them. Laugh, play, pray, anguish and celebrate together.

Let Something Go!

How long did the Coca-Cola Company wait to return Coke Classic while the world seemed to demand they bring it back? How many years did Microsoft hang on to Vista when they knew no one liked the operating system? What are you hanging on to that is holding you back or is unproductive?

They say if you let something you love go, it will return to you.

Let’s hope not.

Reinvention 101

In his new book “Reinvention 101,” Jim Mathis gives brief statements on how to reinvent yourself, career, your business and your life with a paragraph for each. It is an easy read and quick thoughts on how to turn your life around. A practical guide in almost a devotional format for anyone, anywhere to reassess, repurpose and reinvent themselves in a down economy (or anytime). Coming before Thanksgiving!

It’s not the economy’s fault; it’s yours.

Stop making excuses for your poor production. There is typically a
recession every 5 to 7 years. If you don’t know that, you are to blame for why you weren’t prepared for this one. Maybe people don’t buy your product or services because you are a terrible sales person. Maybe you can’t make ends meet because your employees are costing you more than they are bringing in to your business. You know this and you aren’t doing anything about it. It’s not the economy’s fault; it’s yours.

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November 2009


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