OK, here’s your pop quiz of the week. The terms: inflation, recession, deflation and depression. Are they economic terms or are they psychological terms?
Answer: When you let them operate together as the “little voice” between your ears, they become the same thing and you lose. The key phrase is, “when you let them.”
It is no secret that in any difficult economic period, a lot of people get hurt and some people get very rich. Either way, it is the same economy, but a different psychology. The question is, Which person are you going to be?
Let’s look at the terms and see how they apply.
Inflation: How many times have you been overconfident, or even arrogant? What happens? Sooner or later, like an asset with value pumped out of proportion, the bubble bursts.
Correction: Stay humble and connected to clients, associates, friends and their needs. Continue to always serve first.
Deflation: Ever been disappointed? Not gotten the outcome you wanted? All your effort into a deal goes for naught when your prospect chooses another vendor or alternative. The money in your bank account is deflating. Do not rest on the laurels of yesterday. The best way to keep from deflating is to keep inflating through nonstop promotion, serving and selling. Keeping the pipeline and your daily calendar filled with revenue-generating activities keeps your energy up.
Recession: Even though the government is undecided about whether this is happening or not, you and I know it’s old news. How about you? Ever feel like pulling back? Ever get tired of doing the same old thing? Ever have your energy level and passion level recede? And when it gets bad enough, have you ever felt like going back to bed and turning the electric blanket up to “womb” and forgetting about it? If you said no, you are lying. We have been there more than once. Now we are talking Depression.
The No. 1 strategy to stave off all of these little voices and economic conditions is the same. It’s called Little Voice Mastery. It is gaining control of the war between your ears that takes you on an emotional roller-coaster ride every time you watch the market swing or hear the next politician or economist profess their confusing and alarmist rhetoric.
There are more opportunities than ever. Weak competition is getting eliminated. That’s good for you and me because those of us who continue to educate and train on how to sell, how to communicate, how to recruit awesome teams and mostly how to manage our own emotions and “little voice” dialogue will WIN and snap up huge chunks of market share.
It’s happening already. But it’s really up to you.
So here is my list of the Six Ways You Can Go Down With the Economy (If You Want To!):
- Stay glued to the news. You can be like people watching a natural disaster and letting the “spin” of gloom and doom drive their little voice crazy, or you can focus even harder on doing the right things for your income: training, selling, promoting, contacting, expanding.
- Stay confused. You can allow yourself to operate in a fog when it comes to money, economics and income. The subject of money used to be simple. Once it got fractionalized, fiat-ized and politicized, it got confusing. Learn to read a financial statement. Master the process of sales and exchange. Know the difference between a real asset and a liability. Learn how to create real income in any economy.
- Believe you cannot sell or you don’t have to sell. You can be deluded that you do not have to sell to be successful. That is a lie. The Small Business Administration said on April 22, 2008, that 82 percent of all small businesses formed in 2008 will fold by 2012. (That was before the credit crunch!) The biggest fear for anyone in business is that no one will show up, call or buy and that income will evaporate. That is a real possibility unless you know how to sell. P.T. Barnum said it pretty well: “Without promotion, something terrible happens—NOTHING!” People struggle financially, not because of lack of hard work or good products, but because they do not know how to sell, how to raise capital without going to a bank, or how to market themselves. Whether it is selling products, ideas, recruiting or obtaining funds, the skill is the same. Learn it!
- Look for quick fixes instead of mastering your “little voice.” Before, everyone was looking for a way to get rich quick. Now, everyone is looking for an escape hatch. It’s the same issue—believing that there is a silver bullet to every challenge or problem. The best investment you can make in yourself and your team is to master the little voice in your head that either drives you to success or to depression. Seek books, audios, teachers and mentors that can teach you how to drive toward success. It will not only improve your income, it will change your life. It is the single best investment.
- Blame Wall Street, the government or bankers. If I have learned one thing in all my years of personal development, it’s that when I blame others for my situation, I lose. Be clear: Public Enemy No. 1 is not those guys—it’s your little voice! It’s the one that doubts you. It’s the one that doesn’t want to take responsibility. It’s the one that did not want to spend the money or time on training when you should have. It’s the one that is afraid. As my friend Robert Kiyosaki says, “Poor people look to government, middle-class people look to the banks and rich people focus on their own businesses.” And business is a full-contact sport.
- Believe the government or the Federal Reserve will fix everything. Interesting thought, considering they are the ones that orchestrated the mess. Fed chairmen, presidential candidates, treasury officials, politicians—it’s like scrambling for deck chairs on the Titanic! Every business owner knows that to succeed you have to take control of your own life. You cannot change the economy, oil prices, the value of stock or a president’s agenda. But you can control your income and your lifestyle. You can control your response to your environment. You can choose how to play the situation. You can stay confused and stunned or take some additional advice from our friend P.T. Barnum: “Work at it, if necessary, early and late, in season and out of season, not leaving a stone unturned, and never deferring for a single hour that which can be done just as well now. Ambition, energy, industry, perseverance, are indispensable requisites for success in business.”
Regardless of your economic condition, you can choose not to allow the economic condition to become your psychological condition. Be awesome.
Blair Singer is a trainer, speaker and creator of SalesDogs, a methodology that offers sales and communication success, and has helped thousands increase their income worldwide.