Let’s face the facts…this is a challenging time for you, for me and for people across this globe. We are experiencing an economic crisis unlike anything we have seen in our lifetimes. Yet, this is not a time to panic, but a time to think, and come up with strategies to turn this setback into a comeback!
Do not panic because there is no power in a panic! The word panic is taken from the Greek word “to choke!” To choke means to cut off, to disengage, and to disconnect. When you panic, that is exactly what you do. You cut off the air to your brain; and when you cut off the air to your brain, you cannot think clearly. When you are unable to think clearly, you are unable to make wise decisions. And if you are unable to make wise decisions, you usually end up making poor decisions!
History shows us multiple examples of people who panicked and made poor decisions. During the stock market crash of 1929, thousands of people panicked and committed suicide. And the market came back, bigger and better than before!
I have written this article to encourage and inspire you and your network. This article takes T.I.P.S. (Techniques, Ideas, Principles and Strategies) from my book, A Setback Is A Setup For A Comeback, as well as interviews from my XM Radio Show. My goal is to give you specific strategies on how to not only survive, but to thrive, through this challenging time. Please feel free to share it with people in your network and let them know that “the best is yet to come!”
The news media is calling this economic situation a crisis. The word “crisis” is an interesting word because it has dual attributesm - (1) great challenge (2) great opportunity! Napoleon Hill stated in his landmark book, Think And Grow Rich, “In every adversity there is always the seed for equal or greater benefit!” In that spirit, let me share a few ideas that I believe will help you to get through this “crisis” and come out on the other side greater and better than you began!
Recently, I interviewed Dave Yoho, who is a dynamic motivational speaker and America’s leading small business consultant, on my Willie Jolley Wealthy Ways XM Radio Show. Dave Yoho was born in 1928, one year before the Wall Street Crash. He remembers growing up through that Great Depression and discussed how he and his parents got through it. He said, “I grew up in a time when we didn’t know anything but tough times. We learned that tough times don’t last, but tough people do. You must not panic but keep working on your goals. You can get through these tough times by making a commitment to personal achievement!”
Dave Yoho spoke of the important economic lessons he learned in his 80 plus years. World economies will have good times, followed by tough times; followed by good times, followed by tough times; and then back to good times! So the key is to know that we will have occasional setbacks, but do not panic! Those who succeed over the long term realize that this “came to pass…it did not come to stay!” Those who understand that setbacks are simply part of the business process are those who thrive; while those who dwell on the changes setbacks bring routinely falter.
The fact is that setbacks are really simply a part of life, and in life things change…and the secret is to not give up! Keep going and keep growing through the challenges! No matter what industry you’re in, you’re bound to have things change. The key is to remember that these temporary setbacks can empower you to reach even greater levels of future business success. No matter what obstacle has plagued your business, following is the four-step process that can help you survive and thrive through any business setback.
- Focus Your Vision
Where you focus your energy determines where you will go. If you focus on the setback and the challenges it brought you, your business can’t move forward. However, when you focus your vision on what you want your business to become—despite the setback—then you’re using the setback for what it really is: a transition period. Since every business will go through some sort of change or setback at one time or another, it’s important to be able to look past the obstacle and plan your future strategies. In order to develop your new business focus, ask yourself these questions: “What is the big picture I have for my business?” “What can I do differently to keep this setback from occurring again?” “What goals (sales, product development, customer retention, etc.) Do I want my business to chieve in the next three, six and twelve months?” “How can I use this setback as a learning experience?” Use the answers to these questions as your guide to develop your new business focus.
- Make a Decision
Both success and failure are decisions. So once your vision
is in place, you need to decide you’re going to win despite the setback. The truth is successful business people choose to be successful. They understand that decision and choice are integral parts of the success formula. No matter what setback they encounter, they decide to overcome it and prevail.
Some decisions you’ll have to make in order for your business to overcome a setback includes: Who are my advisors? Negative advisors who focus on the setback won’t help you overcome it. You need to decide to associate with positive advisors who share your vision. Is my new goal big enough? Just because you had a setback doesn’t mean you have to start over small. Make a decision to see the big picture first. Then you can work your way backward to meeting that goal.
What steps must I take to meet my goal? Plan out and decide specifically what you will do to meet your new goal. For example, if your goal is to increase sales by 33%, write out what you will do to accomplish that and the timeframe you’re allowing yourself to meet the goal.
- Take Action
A decision without action is simply an illusion, and an action without a vision is mere confusion. Yet a vision plus decisive action can change the world.
Once you decide on the various factors to making your new business vision a reality, you must take action on each and every one. Unfortunately, many business people never act on their decisions. While they have every intention to make their new business vision a reality, they lack the determination and persistence that comes with taking action.
By taking action on a decision, you’re also taking responsibility for the setback. (Chapter Eight- A Setback Is A Setup For A Comeback) Once you take responsibility for your actions, you’re ready to move forward and attain your next goal. Remember, you might not be responsible for getting knocked down, but you are responsible for getting back up. Only those who act achieve their goals.
- Keep the Desire
Desire is the degree of energy you’re willing to exert in order to reach your goal. In other words, how badly do you want your business to survive and what are you willing to do in order to achieve it?
Many business people who take action quickly give up because their desire falters. Either a new idea strikes them and they lose focus, or they encounter another minor setback and become discouraged. In order to reach the new business goal you have set for yourself, you must have the desire to consistently follow-through with every action, even if it involves a degree of risk. While taking a risk may be intimidating, especially after a setback, it’s a necessary ingredient to reaching your new business goal.
Keep in mind an old business saying: “It’s impossible to reach second base if you are afraid to leave first base.” Decide how badly you want to achieve the goal and then keep going after it until you achieve it. Remember, having a business setback is not an “if” proposition; it’s a “when.” And when one occurs in your business, you need to make a conscious decision to view it not as a problem, but rather as a learning opportunity. You must decide what you’re going to do about the setback and focus on the solution.
Every super successful businessperson has had setbacks; however, they realize that a setback is not the end of the road, but rather a bend in the road…and the only ones who crash are those who fail to make the turn. By viewing your business' setback as a chance for future growth, every business challenge can have a positive outcome, and every setback can be seen as nothing but a setup for an incredible comeback.
We will get through this! It’s Comeback Time! Get ready for your incredible comeback!!!! |
