Noah’s Ark can teach us some things about weathering the current financial turmoil.
Noah had to plan ahead. It wasn't raining when Noah built the Ark. Yes, we know it'll be raining in 2009. Pouring hard. But the real storm is within you. So is your ark. Noah had to plan ahead. So do you. You cannot worry about the money you have already lost. Plan ahead, budget, save. Cut expenses. Build your ark. It's never too late. The river doesn’t stop flowing just because your in trouble.
Don't listen to critics, just get on with what needs to be done Only one in three Americans were building their retirement ark before the credit crunch. Most have less than $15,000 savings. Most ignored the coming flood, laughing at ark-builders for wasting their money. Don't listen, do what's right.
Remember, the Ark was built by amateurs, the Titanic by pros. The Pros: Wall Street, Corporate America, Washington, Cable anchors, White House, Congress, SEC, the Fed. They are the best and the brightest marketing gurus, but they lost billions. Listen to their happy talk ... and you'll sink in the flood. You know what's best for you. Trust your inner voice. You cannot trust anyone but your self. If you are going to invest in the market understand how to take advantage of trends and market indicators. If you don’t know what you are doing, put your money under the mattress.
Two heads are better than one. Remember, "they boarded in twos." You're not alone. Find a mentor. My marketing mentor told me a year before the market went bust that we where entering a bear cycle. He spotted the market break in October and told me to short into rallies. Those who followed his advice made a lot of money while others lost everything. Buy and hold is not good advice. It makes no sense to hold in a down market.
Most people don’t captain their financial boat. They just follow a captain who doesn’t care what happens to them. For those who held, it will take the better part of 10 years to get back to where they were in October. My mentor doesn’t tell me what to buy and sell. He tells me why he thinks a particular transaction has potential. The responsibility for setting my course is mine.
Think long-term, if you’ve built a good ark you will survive the rapids
Build your future on a solid boat. Set goals, figure out what you have to do to reach your goals. Many people are of course and scared to death. The are frozen by fear. Successful people start now and build for the future. Savings and education can help you set your course, but don’t wait for better times. Take advantage of today’s opportunities Today's recession is a great time to rethink your goals. Just do it.
Don't miss the boat, the a good ark will keep you from sinking. Action now. Yes, the market's below last year's peak, even below the 2000 dot-com peak. Make sure you know what you are doing. Look for opportunities. The market will recover. Houses that where valued at $750K in October are selling for $30K today. Steady your ark. Recoveries happen too.
Don't forget, we're all facing a wild financial ride. How well we survive depends on how well we outfitted our arch. America is a great land of opportunity, even in a bear-recession. If you kept your credit cards under control, if you’ve saved and invested soundly, your ark is in good shape. If you are in trouble trim your sail, batten your hatches and ride out the storm. When you have a chance, throw a lifeline to someone who is in more trouble than you.
Speed isn't always an advantage. Arks are made to weather the storm. They are not made for speed.
Woodpeckers inside are a larger threat than the storm outside. Attitude is the key to success, it's an inside job folks. Successful investing does not depend on a "positive mental attitude." It begins with knowing what you are doing and having the confidence to do it. Remember, you job in a recession is to protect your resources.
When you're stressed out, take a time out. Turn within. Listen to the still small voice. Pray. Meditate. Exercise. Go for a walk. Take a break. Call an old friend, kibitz. Help someone who is worse off. Answers come when you give your subconscious a chance to work for you.
Sometimes a force bigger than you takes control and guides you through the rapids. If you are frantically trying to steer, you are not going to be listening.
Sometimes, you just have to look for the rainbow in the storm and steer for it.
Sunday, December 28, 2008
Sunday, December 14, 2008
The Power of Indirect Action
Rule 14 The Power of Indirect Effort
Have you ever noticed that when you argue with people the argue back, when your fight the other guy fights back. When you hate, you are hated. But, when you love you are likely to be loved. You cannot teach you kids to be honest if you lie to them.
When one of my children was very young they stole some candy from the store. My wife has an eagle eye. She made them take it back and apologize to the store owner. Then she had them work off the debt.
My son taught me about unconditional love. Love should be given with no strings attached. Simply encourage people to be all they can be. That doesn’t mean you give an alcoholic a drink when he wants one. I does mean you give them love and respect and encourage them to come clean.
Sometimes, a person doesn’t respond. An abusive husband is domineering and violent because of his need to be in control. If you are in such a situation, it is time for you to cut you boat free and plot your own course.
Don’t try to do it on your own. Look for support. A mentor can help you plot your best course. Find some one you admire and respect who has achieved what you want to achieve. Finding a mentor may be as simple as asking for help.
One last thing, live in the moment but plan for the future. Don’t get upset if things don’t go as expected. Accept the challenge of the river. If you capsize your kayak you are going to get wet, but if you know how to do an Eskimo roll, you are going to come back up on top.
To often, we value our selves by what we do. When we loose a job, it can be devastating not only financially, but psychologically. The toughest job you will ever have is looking for a job. Remember, you are never a failure until you quit trying.
The present recession headed for depression has everyone scared. Our houses are loosing value and our retirement funds have lost half their value. People worry that they may loose their jobs. Many already have.
Many people believe in the great, independent, self sufficient American. It is the idea of everyone for themselves. Such people have never experienced being a single mom struggling to feed her children on a minimum wage job.
Many street people in Hawaii hold full time jobs, but they have to live in their cars because they cannot afford $1000 a month for a studio apartment. They join a gym so they can clean up and go to work. People who are hurting and cannot help themselves need help. Who is going to do it? Charities are struggling and failing to provide services. The only organization that can provide consistent help is our government. People who arbitrarily oppose “big government” simply want fewer services. Sure, welfare has its problems, because people tend to depend on it, but we must provide help for those who cannot help themselves. At the same time, we must help those people learn the skills needed for them to become independent.
Obama is right. Create jobs by repairing much needed infrastructure; help people go back to school and providing help to people who cannot survive without help. Otherwise, this country will descend into chaos and only a fortunate minority will be able to live the good life.
We must each take responsibility for our own life, but we also must make sure that our neighbors in trouble have the help they need.
Have you ever noticed that when you argue with people the argue back, when your fight the other guy fights back. When you hate, you are hated. But, when you love you are likely to be loved. You cannot teach you kids to be honest if you lie to them.
When one of my children was very young they stole some candy from the store. My wife has an eagle eye. She made them take it back and apologize to the store owner. Then she had them work off the debt.
My son taught me about unconditional love. Love should be given with no strings attached. Simply encourage people to be all they can be. That doesn’t mean you give an alcoholic a drink when he wants one. I does mean you give them love and respect and encourage them to come clean.
Sometimes, a person doesn’t respond. An abusive husband is domineering and violent because of his need to be in control. If you are in such a situation, it is time for you to cut you boat free and plot your own course.
Don’t try to do it on your own. Look for support. A mentor can help you plot your best course. Find some one you admire and respect who has achieved what you want to achieve. Finding a mentor may be as simple as asking for help.
One last thing, live in the moment but plan for the future. Don’t get upset if things don’t go as expected. Accept the challenge of the river. If you capsize your kayak you are going to get wet, but if you know how to do an Eskimo roll, you are going to come back up on top.
To often, we value our selves by what we do. When we loose a job, it can be devastating not only financially, but psychologically. The toughest job you will ever have is looking for a job. Remember, you are never a failure until you quit trying.
The present recession headed for depression has everyone scared. Our houses are loosing value and our retirement funds have lost half their value. People worry that they may loose their jobs. Many already have.
Many people believe in the great, independent, self sufficient American. It is the idea of everyone for themselves. Such people have never experienced being a single mom struggling to feed her children on a minimum wage job.
Many street people in Hawaii hold full time jobs, but they have to live in their cars because they cannot afford $1000 a month for a studio apartment. They join a gym so they can clean up and go to work. People who are hurting and cannot help themselves need help. Who is going to do it? Charities are struggling and failing to provide services. The only organization that can provide consistent help is our government. People who arbitrarily oppose “big government” simply want fewer services. Sure, welfare has its problems, because people tend to depend on it, but we must provide help for those who cannot help themselves. At the same time, we must help those people learn the skills needed for them to become independent.
Obama is right. Create jobs by repairing much needed infrastructure; help people go back to school and providing help to people who cannot survive without help. Otherwise, this country will descend into chaos and only a fortunate minority will be able to live the good life.
We must each take responsibility for our own life, but we also must make sure that our neighbors in trouble have the help they need.
Saturday, December 6, 2008
The Power of Persuation
Captains Chart Courses for Their Reasons, Not Yours
Remember, when you work for someone else, you work for their goals not yours.
Some people are lucky enough to hook their boats together when they have a similar course in mind. For many people who hate their jobs, it is because they hooked up to a boat that is pulling them where they don’t want to go.
Some bosses push and others pull. Pushers tell you what to do and when to do it. Most people resent being told what to do. Pushers can build a tight organization, but they won't have happy people. Employees who work for them, work reluctantly.
Bosses who pull their team together do it by selling their goals. They convince their employees that what they're doing is important. They lead by example.
It is strange, but most people do not know how to sell their goals to others. Common methods of motivation include criticizing, complaining, condemning, advising, demanding, manipulating, arguing, defending, and threatening. None of these things do anything more than alienate others.
Even a logical argument may not be effective, because many people make their decisions based on their gut and not on their head.
People are all different and what motivates one will fail was another. You’ve probably all heard of the hierarchy of needs. If you're being threatened, nothing but survival will motivate you. Many people in this world scratch for enough to eat and drink. Their life depends on finding food and water. You can't talk to them about conserving wildlife before they have adequate food and shelter.
Persuasion requires agreement, and you cannot force an agreement. As a sales person, I was taught to ask leading questions. If I got 20 “Yes” answers during the presentation, I knew I was going to close the sale. When you try to persuade the first step is to get agreement on the desired outcome. The only way to be sure their job is on track as to clearly define the standards and guidelines for the successful job. Next you have to make sure that your boat is well outfitted. If you're in the middle of the river and you don't have a oar, you're going to be in trouble. Make sure the rewards and consequences are clear and give them time to practice. Once they have mastered the work, get out of the way and let them do their job.
How can you get someone to agree with you? Ask questions. Our founding fathers asked, “What do you think of taxes without representation? What happens when the king's soldiers take over your home? How will you react when the king takes away your weapons?
In sales, we learned to ask open ended question. An open-ended question cannot be answered yes or no. An open-ended question leads to a conversation. An open ended question usually begins with who, what, when, where, why or how. The close comes when you asked a confirming question. The salesperson will ask, “We have compared the Perfect vacuum cleaner with your vac, and you've seen how much more dirt the Perfect pulls. We know you want to clean house, don't you agree that the Perfect is far better than anything you've ever seen?”
The confirming question is a powerful close.
When you want to persuade you first have to build trust. Then you have to gain their attention. You're never going to be able to make a sale during the Super Bowl. Use questions to understand what people want and desire. Confirm, clarify and agree upon a desired outcome. If you try to sell the world's fastest speed boat to someone who wants to sail around the world, you will not make the sale. Look for areas of agreement. The salesperson had to convince his clients that their vacuum was junk before he had any chance of closing the sale.
Don't tell people what they all ready know. I taught a course in video production to elementary school kids. I assumed they had had no experience, but I quickly learned that they were producing a major documentary for their school and a few of them even had video editing equipment at home. I had to supplement what they already knew..
Don't be afraid to close more than once. Advertisers repeat their message over and over for a very good reason. People generally have to be exposed to the sales pitch at least five times before they'll take action. Once you've achieved an agreement, be sure to follow up. Why do you think your local grocery store sends you all those ads for special prices?
People are always complaining that the river is unfair, but that's simply not true. The river doesn't even know you're there. Stop complaining about the river and learn to steer your course to take advantage of the current.
Remember, when you work for someone else, you work for their goals not yours.
Some people are lucky enough to hook their boats together when they have a similar course in mind. For many people who hate their jobs, it is because they hooked up to a boat that is pulling them where they don’t want to go.
Some bosses push and others pull. Pushers tell you what to do and when to do it. Most people resent being told what to do. Pushers can build a tight organization, but they won't have happy people. Employees who work for them, work reluctantly.
Bosses who pull their team together do it by selling their goals. They convince their employees that what they're doing is important. They lead by example.
It is strange, but most people do not know how to sell their goals to others. Common methods of motivation include criticizing, complaining, condemning, advising, demanding, manipulating, arguing, defending, and threatening. None of these things do anything more than alienate others.
Even a logical argument may not be effective, because many people make their decisions based on their gut and not on their head.
People are all different and what motivates one will fail was another. You’ve probably all heard of the hierarchy of needs. If you're being threatened, nothing but survival will motivate you. Many people in this world scratch for enough to eat and drink. Their life depends on finding food and water. You can't talk to them about conserving wildlife before they have adequate food and shelter.
Persuasion requires agreement, and you cannot force an agreement. As a sales person, I was taught to ask leading questions. If I got 20 “Yes” answers during the presentation, I knew I was going to close the sale. When you try to persuade the first step is to get agreement on the desired outcome. The only way to be sure their job is on track as to clearly define the standards and guidelines for the successful job. Next you have to make sure that your boat is well outfitted. If you're in the middle of the river and you don't have a oar, you're going to be in trouble. Make sure the rewards and consequences are clear and give them time to practice. Once they have mastered the work, get out of the way and let them do their job.
How can you get someone to agree with you? Ask questions. Our founding fathers asked, “What do you think of taxes without representation? What happens when the king's soldiers take over your home? How will you react when the king takes away your weapons?
In sales, we learned to ask open ended question. An open-ended question cannot be answered yes or no. An open-ended question leads to a conversation. An open ended question usually begins with who, what, when, where, why or how. The close comes when you asked a confirming question. The salesperson will ask, “We have compared the Perfect vacuum cleaner with your vac, and you've seen how much more dirt the Perfect pulls. We know you want to clean house, don't you agree that the Perfect is far better than anything you've ever seen?”
The confirming question is a powerful close.
When you want to persuade you first have to build trust. Then you have to gain their attention. You're never going to be able to make a sale during the Super Bowl. Use questions to understand what people want and desire. Confirm, clarify and agree upon a desired outcome. If you try to sell the world's fastest speed boat to someone who wants to sail around the world, you will not make the sale. Look for areas of agreement. The salesperson had to convince his clients that their vacuum was junk before he had any chance of closing the sale.
Don't tell people what they all ready know. I taught a course in video production to elementary school kids. I assumed they had had no experience, but I quickly learned that they were producing a major documentary for their school and a few of them even had video editing equipment at home. I had to supplement what they already knew..
Don't be afraid to close more than once. Advertisers repeat their message over and over for a very good reason. People generally have to be exposed to the sales pitch at least five times before they'll take action. Once you've achieved an agreement, be sure to follow up. Why do you think your local grocery store sends you all those ads for special prices?
People are always complaining that the river is unfair, but that's simply not true. The river doesn't even know you're there. Stop complaining about the river and learn to steer your course to take advantage of the current.
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