The Economy Is Down Blues?

It may be hard to stay focused and motivated when the economy is down, layoffs are in the news daily and all we hear is about higher prices and fewer jobs. What is the answer?

• Whether you work for someone else or yourself, treat every day as a new adventure.
• If you work for someone else, make sure that you have a clear job description, performance objectives, your last performance appraisal and an updated resume.
• If you work for yourself, make sure you have a clear business plan with specific performance objectives (not just financial), a list of accomplishments from the past three years and an updated resume.
• Make a list of how you spend your time during one week. Anything that is not helping you achieve your performance objectives or business plan, stop doing it.
• Forget the "four hour work week". Start working earlier and stay later whether you work for yourself or someone else. And do not use the extra time to just catch-up on e-mail.
• Cut your time doing e-mail in half. Regardless of when you do it. Spend that time on customers and professional networking.
• Speaking of networking, make sure you attend at least four professional networking functions (formal or informal) every month. If you work for someone else, these must be external to your company or employer.
• Follow-up with former bosses, co-workers, college and graduate school contacts and others. Make sure people know who you are, where you are and what your are currently doing professionally. And always make sure you offer to help others if they are looking for a job.
• Whatever time you spend talking to or meeting with customers – double it. Only customers pay the bills whether you work for yourself or someone else.
• Finally, whatever you are saving for a rainy day – double it. Cut back where you can. You should have enough money put aside – beyond college funds and retirement – to live for SIX MONTHS without a steady paycheck. This may sound exaggerated but it is essential.

Economic downturns come and they go. This one may be worse the after the “dot com” bubble burst in 2001. Maybe it will not be. Either way, you need to take the steps NOW to insure you are marketable whether you lose your job – or your business – or not.

George F. Franks, III is the President of Franks Consulting Group, a Bethesda, Maryland-based management consulting and leadership coaching practice. Franks Consulting Group's clients include businesses, associations, non-profit organizations and individual leaders. Franks Consulting Group is on the web at:
http://franksconsultinggroup.com.
George can be contacted by e-mail at:
gfranks@franksconsultinggroup.com
Franks Consulting Group's free quarterly e-zine on career and leadership topics is at:
http://careerandleaderhip.com