David Finkel has some ideas on how to thrive in today’s tough economy…
Tip One: Use this as a chance to lean your business and personal S-Factors™.
Your S-Factor is your cost of living, or in the case of your business, your business’s cost of operating. Now is a perfect time to look closely at your expenses and trim, cut, prune, and diminish where you can.
This might include negotiating with your vendors for better pricing… Or getting on a better calling plan with your cell phone provider (a friend of mine saved close to $1,100 a year by consolidating all his family’s cell phones to a better plan.)
Take a look at your real estate’s tax assessments. If the values have dropped, how about petitioning for them to lower your assessment. I’m in the process of doing this one on two of my properties and hope to have it save me about $7,000 a year!
Tip Two: Forget about your expenses.
I know this one contradicts tip one, but what I mean is once you’ve made your cuts, don’t obsess about them. If you live your life immersed in stressing over your expenses you’ll never create the financial successes you want.
Instead, spend some concentrated time getting your spending in alignment with your best interests, and then focus all your working attention on growth–growing your business, finding great investments.
You’ll want to regularly review your expenses, but don’t lose sight of the fact that you need to play offense too!
Tip Three: Reach out to your peer group.
In tough times it’s quite common that people withdraw and go it alone. This is not only painful and lonely, but downright dumb.
It’s in tough times that your peers need you. Together you can keep your focus on the positive, on what you can do to move forward towards your goals, and to hold each other accountable for any “stinking thinking”.
Of course this assumes that you have a positive peer group of doers. If not, I URGE you to do whatever it takes to create one. Whether that be join your local business club, or attend our October 25-26th Financial Fluency workshop and network with 150 of the nicest people you’ll ever meet, or join our online community at Maui Mastermind® Online. You need to get yourself around positive and ambitious doers.
Tip Four: Focus on creating value and serving others.
No matter what is going on in the world you will always be rewarded in direct proportion to the value and service you share with the world. So focus on creating value, and on serving others.
Not only will this help you shift your focus to positive places you can make a difference, but it will also stabilize your position and ultimately help you grow your business and investments.
Tip Five: Remember to give thanks.
You are already a HUGE winner in life’s economic lottery. You live in an abundant society. You will never have to go hungry or sleep without shelter.
You have people who you love and who love you.
Take time to DAILY focus on the 10 things you are most grateful for, and where appropriate, tell the other people how you feel to have them sharing your life.
Article Source:David Finkel – InvestorFastTrack.com
