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Recession Proof Your Mind: Part 2

On 03.04.09, In canada recession, success coaching, success nlp, wealth creation, wealth creation montreal recession, wealth nlp, By David Kynan

How is it possible to profit, even when the economy is down?

Right now while many lose their jobs, their savings, their investments and their peace of mind, others are getting rich.

A friend of mind recently told me a story about the US recession in the early 90s. She was working in a sales position when the recession hit and as soon as the news came, one of her colleagues began to lament: “We’re in a recession, it’s going to be a terrible month. This is awful.” He continued to grumble about the situation until the end of the month.

Yet my friend didn’t see things this way. She believed that what the company was offering was really of value and all she needed to do was show people why they needed what she had in the current economy. At the end of the month the two were together when they received their paycheques. My friend’s colleague opened up his paycheque and with a grunt, turned it over to my friend and said, “See.” My friend opened up her paycheque with a smile and her colleague gasped. “How did you make so much?”

What this really demonstrates is how powerful the mind is at directing your focus and producing results. With the choice of our focus we literally program out minds for success… or failure. What software have you installed in your mind?

More than ever before, having the right mindset and tools is key to financial success. While the markets continue to shift, many people are rubbing their hands together with anticipation and excitement at the opportunities available to them. If you’re prepared for difficult economic times and have the right beliefs, attitudes and mindset, there is no reason to worry about your financial future. You can create your own micro-economy and thrive.

There is as short clip that is often shown in seminars to demonstrate a powerful principle. In it there are six youth passing basket balls, three wearing white and three wearing black. Each team of three is passing a ball to others wearing the same colour. The presenter asks the crowd to watch the film and count how many times the ball is passed between them. At the end of the clip (which lasts about 2 minutes) he asks for the answer and people begin to shout out numbers. Then he plays the same clip again. In the middle of the clip, audience members gasp when they see someone in a gorilla suit walk right in the middle of the scene, stop, and pound on his chest before walking off.

It’s not the same movie” people cry out. Yet it is. A few of us saw the gorilla the first time (especially if we have seen this demonstration before). How is it that we can miss a gorilla right in the middle of the scene when it is so obvious?

This demonstrates a powerful principle of human psychology: we find what we look for. According to Polish thinker Mihaly Csikszentmihalyi, in every second we take in 2 million bits of information through our senses, yet we can only consciously process 126. 126 out of 2 million? That’s a lot to miss! What happens with all that information? To avoid being overwhelmed by some much data, we delete it; we ignore what is not important. If we were to process all that information, we would go insane, so we only take in and pay attention to what they brain thinks is immediately relevant.

What does this mean? This means that what we take in from the outside world depends on what we have inside. Carl Jung taught that perception is projection. Instead of seeing reality as it is, we usually use what we find in reality to confirm what we already think and believe.

If you believe the economy is barely breathing and only surviving due to life support, succeeding now will be like pulling teeth. If you believe this is a time to hide behind closed doors and hang onto your dollars, times will be rough. When you believe the economy is bad you will delete opportunities for prosperity. With this mindset a prosperity gorilla will come right by and bang on its chest and you won’t even know. Every second you tell yourself what to focus on. What are you focusing on now?

One of the main principles of cybernetics says that the element with the most flexibility in a system governs the system. The same is true in unstable economic times. With enough flexibility you can adapt to the changes and adjust what you have so it matches the needs of the market.

Want a perfect example of flexibility? In downtown Toronto Virgin mobile has placed some attention-grabbing ads. A billboard reads, “Screw the Recession! Take charge with plans from $10/mo. Not only is it unique and funny, but it’s giving people just what they want right now: to save money. Help people save money and you will make money. The same billboard reads: “smartphones for the savvy recessionista.” What happens when a company can so effectively meet us where we are and offer us precisely what we want?

Both businesses and self-employed professionals need to rethink what they offer. How do you think about what you offer? Do you consider it a luxury or is it just what people need in these times? If you consider it a luxury and your target market seems to suddenly have deep pockets with short hands you better find a way to adjust your offer and show people why they need it now. A recession is a time to add value to what you offer. People’s needs and wants shift when the economy shifts. If you can find out what your clients really want and give it to them, you will profit. How can you modify what you have to offer to fit the times and shifts in wants and needs of your clients?

Individuals need to rethink what they have to contribute to their employer. Economic shifts are the perfect opportunity to learn to separate yourself from others, invest in yourself and increase your knowledge and skills. In times like this you need to make yourself indispensible. It’s those who don’t who get bitten by the recession bug. Making yourself someone people can’t do without is not such a bad thing. The economic downturn might be the best thing that ever happened if you do.

How will you stand out? As prices drop, courses and training become cheaper so you can get more bang for your buck. When the economy comes back you will have a whole new set of skills that you got for less.

The same reality that is available to those who are thriving now is available to you. The key is to grab the most useful and empowering 126 bits. Which 126 bits do you want to be grabbing?

The question is this: What will you put in your mind so you can respond to it optimally and create the life you want?

www.mindworkscoaching.net

Recession Proof Your Mind: Part 1

On 02.21.09, In canada economic crisis, canada recession, neuro-semantics, nlp, prosperity, wealth creation, wealth creation montreal recession, By David Kynan

Each day there is more doom and gloom in the media about the economy. Our fears and worries are growing as we look out to the uncertain economic future and the situation that doesn’t seem to be getting any better. The dreaded R-word is mentioned more and more frequently and reports of layoffs, cutbacks and stress on Wall Street are piling up. My bet is that recessiphobia will soon be added to the DSM-IV, the manual used by mental health professionals to classify and diagnose mental disorders.

Most people are certain they will suffer the backlash of the recession and so they tighten their grip on their wallet and hold back from taking risks. They do everything they can to not get poorer, and do little to try to get richer because it’s too risky in a volatile market.
But is the news we are getting about the current economic situation slanted? Are we getting the whole story?

In a recent news article I read that right here at home restaurant sales are down. People are going to restaurants less and when they do, the spend less and tip less. Yet just last night I was looking for a restaurant in downtown Montreal and had to keep going from place to place because each restaurant I tried had a line-up and a 20-45 minute wait. Tough times indeed!

There are many who are getting rich right now despite the current “economic instability.” While the rest of us wake up in the morning with a grumble, pull the covers over our heads and putting our spare change into the piggy bank instead of splurging on that lattes, others are out there turning obstacles into opportunities… and $$$$$.

While many have developed R-word phobia, others jump for joy when they hear about the economic changes. What about you?

The Economist magazine has an index to gauge an economic downturn, by counting the number of times the word “recession” appears within stories in the New York Times and Washington Post. That means the more it is talked about in the media, the more we think we are in one. The more we think we are in one, the more we cut back and save. The more we cut back and save, the more companies decrease production, and the more layoffs are reported. So we save more and cut back more and companies cut back more and lay off more employees. It’s the notorious self-fulfilling prophecy.
Shakespeare said, “There is nothing either good or bad, but thinking makes it so.” Could this be true of the recession as well?

When the economy shifts, we respond. Often, however, we do not just respond to the economy, we respond to media reports about the economy. The more the media dramatizes the situation and the more they report on it, the more fearful we become. The more fear we feel, the less we take economic risks- those same risks that fuel a capitalist economy. Are we feeding the recession by starving the economy with our mindset?

Is it true that a recession means trouble? For something to be true, it has to be true for everyone. Since in uncertain economic times some get rich, a recession is neither good nor bad- it’s just a situation. The manager of a company I worked with gives the following suggestion: “Instead of overreacting to problems, react to situations.” That advice is warranted here.

Do those who prosper in a recession prosper by chance? Hardly. Why can some be successful in these times while others not? Many think, consider and reflect on what they want to do. They have great ideas that they ponder, waiting and waiting and waiting for the right moment. What happens? They end up waiting until the right moment has passed.

Many of us want to play the blame game. We ask, “why me?” We focus on all the reasons why we can’t be successful. We’ve fallen into this trap because we don’t want to be at fault, but by letting ourselves get sucked into this game we choose reasons (excuses) over results.

Those who prosper in a recession do so because of the response they choose to events in the world. Instead of catastrophizing, blaming, worrying and complaining, they determine precisely how think to get what they want. They strategize and decide what to do. They are the CEO of their minds.

In these times, many are looking for simple advice as to what to do to keep their heads above the water or if they are optimistic, what to do to climb onto dry land. We want the “3 easy steps to making money in real-estate” or “3 keys to starting your own business in tough times,” but before we start barrelling down with steps we need something much more important. The key to prosperity is not to find the right steps, it’s about what’s behind the steps.

To prosper now we need to improve our thinking and focus. We need to master our thoughts and emotions and respond to life in a way that is aligned with our objectives. Worry and fear don’t lead to success. Penny pinching and risk avoidance don’t make us winners in tougher times. Those who prosper now see the current situation as the perfect time to do things. To them, opportunities abound!

No, positive thinking is just not enough. Saying “The economy is good, the economy is good, the economy is good” is not the way to do it. If you want to come out on top you need to think about the economy in a way that enables you to achieve what you want. According to Forbes magazine, Warren Buffett, the second-wealthiest American (with a fortune of $52 billion) is “sniffing out opportunities created by the recent financial market turmoil.” With $52 billion, Buffet might be just the role model we need. Why leave all the opportunities for him to find?

www.mindworkscoaching.net

The Wealth Mindset: How to Profit from a Recession in Canada

On 10.28.08, In canada economic crisis, canada recession, professional coaching, wealth coaching, wealth creation montreal recession, By David Kynan

As world markets slump and worries of a global financial crisis deepen, the Bank of Canada warns that we’re on the edge of a recession. Even though we are in better shape than most other world economies to deal with it, the recession mentality has begun to settle in. Driven by fears, worries and the need for security, Canadians are already cutting spending and looking for ways to ensure their financial future.

What happens during a recession? The economy dwindles, business suffers and profits drop. We must cut corners and save our pennies because we don’t know what lies ahead.

But is it really so? Many businesses continue to thrive during a recession, so what’s the difference between those who profit from m a recession and those who suffer?

The secret is in the mind. When the economy faces a downturn and we say to ourselves, “Customers won’t buy anymore,” and “These will be tough times,” we are setting ourselves up for defeat.

Those who profit from a recession, and those who profit from a recession even more than they were profiting before believe that even during tough times their business can flourish. They believe that even during tough times people need what they have to offer and all they have to do is demonstrate the value their product or a service has, even in an uncertain economy. Even better, those businesses that thrive during such times believe that their clients need what they have even more than ever. They choose a mindset that sets them up for success instead of shooting themselves in the foot. To master the outer game of wealth and success, you have to master the inner game first.

There are numerous examples of individuals and companies who achieved greatness during tough times. During the oil embargo of the 80’s, Microsoft and Apple were born. I guarantee you that Bill Gates and Steve Jobs were not sitting around thinking, “The economy is rough, this will never work.”

It’s possible to thrive whether the economy is up or down. Those who do have literally programmed their minds for success. Instead of focusing on all the reasons why they won’t be successful, they uncover all the reasons for which they will. They develop a wealth mindset by backtracking from the result they want; they set a goal and ask themselves, “If this is my goal, how to I need to think to get their?” It’s called thinking strategically and if you want to succeed, it’s much more effective than worrying.

I have a good friend who is in the advertising industry. When the economy suffers, his sales go up! He tells his client that the best time to advertise is when the economy is uncertain, and gives them example after example as to why it’s true. As he explained to me, people stop buying advertising during such times, so prices go down. If you buy an ad at a cheaper price, you can make even greater profit when the economy improves. Also, because less ads are being bought, there is less competition so your ad is more likely to be seen. As a business you can attract and gain the loyalty of your competitor’s clientele.

He has a mindset that will lead him to success, no matter what the economy is like.

Even with the threat of a recession, we need to remember that Canada has one of the best economies in the world. With the right mindset, you can unleash your creativity and find ways to profit from the situation at hand. And herein lies the key: those who make it during tougher times are flexible. Instead of continuing to do what they have always done, they have the ability to respond to the environment. They adapt to circumstances and find ways to transform obstacles into opportunities.

Your mindset will drive your thoughts, emotions and behaviours, and your behaviours will lead to the results you produce in life. Any of the results you have produced in your life can be traced back to your mindset, the underlying thoughts, beliefs and intentions that lead to behaviours. If you don’t like the results you are producing, you first need to get back to the source of it all.

Imagine a fruit-bearing tree. This tree is your life. If you look at the fruit and you don’t like what you see, do climb up and try to change the fruit? No! You have to look to the roots. You have to make sure that what is underneath the surface is just right so that what comes out is the way you want it. So many people spend years fighting with life instead of getting to the root of what is causing problems.

I recently worked with a client (www.mindworkscoaching.net) from Boston who is self-employed. He told me that he was earning far below his worth and something was stopping him from making the kind of money he knows he is capable of. We worked at clearing out negative influences and programming in the right mindset and in only three months he increased his income by 40%… and in an economy in recession!

We cannot always control external circumstances, but we can always control our response to them, and it is our response that will determine the results we produce. How will you respond to the economic uncertainty we are facing? Will you devote your time to worrying and saving pennies, or will you find a way to benefit? Even during “tough times” people still have wants and needs. Most interesting is that peoples wants and needs change and new wants and needs develop. This is fertile ground for the seeds of opportunity.

Mindworks Coaching Montreal

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Recession Proof Your Mind: Part 2

Recession Proof Your Mind: Part 1

The Wealth Mindset: How to Profit from a Recession in Canada

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