Blaire Palmer of Let’s Be Successful Again asked me to contribute a guest blog to her website on my tips for personal success in in recessionary times. Here’s a shortened version
Being Successful in Recessionary Times
If we are to believe the media, we are on the brink of Armageddon. Yes, the signs of recession are visible in the empty shop-fronts now appearing on even the most prosperous high streets and in the jobless statistics and the newspapers and magazines that have suddenly got quite a bit slimmer as they are deserted by many of their advertisers. Despite all this, most people are quietly getting on with their lives. Most people are still in jobs. Many of them are enjoying a healthy improvement in cash flow as they reap the benefits of significantly lower mortgage repayments and now reducing energy and petrol bills.
In recessions, successful people get more so. Recessions are great times to start up new businesses. There’s less competition for a start. I am in the throes of launching a new business myself and am feeling very excited and optimistic about it. So what are the qualities needed to be successful in tough times? Here are my top tips:
Frugality: whilst it’s not going to help our high streets, it’s a great tool to help you re-focus on what really matters. Cutting out stuff, questioning whether you really need something or not, enables you to get rid of a lot of distraction, as well as saving money. You can also find a lot of pleasure in doing things that don’t cost much. It’s more creative, it’s more of a challenge and it’s ultimately more satisfying. Yes, frugality is the new black.
“Stickability”: hang on in there and don’t give up. Success is born out of many failures. If it doesn’t work, try doing it a different way. If you believe it is right and want to make it happen, don’t let go! Make the future happen. Keep experimenting and keep learning from your mistakes. You may have to double the frugality efforts if you are investing in a new enterprise, or searching for a new job, and on little or no income, but in the words of Kevin Costner’s character in Field of Dreams “If you build it they will come.”
Work bloody hard!: if you want to get ahead and stay ahead you have to be prepared to put the hours in and keep the effort up.
Make time for fun: When times are tough and you are working hard, it’s really important to have plenty of “me time”. Whether it’s curling up with a good book, having a long lie-in at the weekend or hanging out with friends and family, make sure you allow yourself the time to do it.