10 Ways To Keep A Sluggish Economy From Breaking Your Stride

People have different opinions about the current state of the economy.  But with the high gas prices and the less than stellar housing market, no one can argue that it’s had better days.  I am positive person and I have confidence that, just like it always has, it will strengthen once again.  The economy’s buoyancy, though, is not people’s concern.  It’s whether or not they can financially survive until it bounces back.

Part of staying motivated and reaching your goals is your ability to be flexible.  You need to always be looking two steps ahead and be ready to make any necessary adjustments.  This ability is what defines a successful person.  Anyone can be at the right place at the right time but for lasting success you need to be open to making the changes necessary to keep moving forward.

In light of these facts here are 10 different ways to help you always be prepared for the twist and turns ahead while staying positive and excited about what’s around the corner.

1-Diversify your income stream.

We all know that saying, “Don’t put all your eggs in one basket”.  But many of us don’t live by it.  Diversification is one of the key’s to surviving all that the economy can throw your way.  Don’t just rely on one source of income.  Just like the housing market, you will either flourish or fail.  Have one main source accompanied by a more flexible smaller source.  Having some sort of side business, for example, will take some of the pressure off the main source.  Then if your main source of income were to become sluggish you will have something to help pick up the slack.  You could sell stuff on eBay or start a local service business (tech support, house cleaning, mechanic, carpentry, personal organizer, event planner, etc…).  It really  doesn’t matter what as long as it is flexible and provides additional income without taking up all the rest of your time.  I find that I can run my technology consulting business and still have some time to work on my online business ventures and still have a life.  I just get up a little earlier and make things happen.  It’s not a question of whether or not you CAN do it as much as if you are WILLING to do it.  What defines a successful person is their ability to be flexible and their willingness to do what it takes to get the job done.

2-Turn off the news.

I used to be a real news buff and I listened to a lot of talk radio.  Between politics and current events I was always “in the know”.  But as the economy started to falter the news started to become more and more depressing.  For a time I found myself always talking about “the state of the economy”.  My optimism for the future became grim and my productivity started to weaken.  Between that and listening to the constant bickering between the political parties, I was becoming more and more of what I’ve always dreaded; a pessimist! Their is no place in a successful person’s world for something like pessimism.  It is a cancer that will eat your future alive.  The second I started seeing it creep it’s ugly little head in, I decided to find it’s source and put an end to it.  I quickly realized that all of the ‘News’ that I had been absorbing was causing this gloomy outlook on life.  So I stopped it all together and regained my positive outlook for the future.  My work life instantly got better and my productivity increased.  I am not saying that you put your head in the sand.  Of course it is important for you to know what’s going on.  But many of us get caught up in the “minute by minute”, “play by play” commentary that our current news sources have become.  Their has always been some kind of crisis going on in this World and this will never change.  But there has also always been successful people with the willing to be flexible and stay focused on the future, not getting caught up with latest buzz.

3-Look for opportunities.

Some people look at the changes in the economy not as ‘up or down’ but as ‘this or that’.  You may have heard the principle, “For every action, there is an equal and opposite reaction.“  This applies to everything, including the economy.  If one area of business is doing well than there is a good chance that the opposite area is doing poorly.  Using the housing again as an example you can see that as the real estate companies suffer the foreclosing companies flourish.  If you are in one line of work that is doing poorly, take a look at the other side and you might find a new opportunity ready and waiting.

4-Adjust your gauge of success.

Keeping up with your progress is always important if you want to know the state of your success.  Sometimes you compare yourself to others and other times to yourself.  But in a weaker economy you must keep your comparisons to current situations.  In other words, don’t compare the current success of your business with how it was doing when the economy was better.  Inevitably you will not be doing as well as you were and therefore be discouraged to move forward.  Instead, look at other, similar businesses in the same economy, to set your bar for success.  If you find that you are doing well, with these standards in mind, than you should stay positive and know that you will make great progress as the economy get back on it’s feet.  But if you find that others are doing better that you, even in the same economy, than you need to assess what they are doing differently and what you are doing that is not working.  Basically, this shows that part of your struggles are not caused by the economy but by yourself.  (This is a whole other issue.)

5-Show your uniqueness.

If you are working for someone else than one of your worries may be the possibility of being laid off.  This is something that you can’t control but you can persuade.  Show your boss your unique ability to stay flexible and your eye for opportunity.  Treat your job as your business.  Look for ways to improve the company you work for and express these findings to your boss.  Let them know by your actions that you are on a whole other level than your fellow employees.

6-Live like it’s ALL GOOD.

Sometimes you are in a place where there is nothing more you can do but just ride it out.  You’re not going to die, the World will keep on spinning.  I’ve found that one of the best remedies for hard times is to act is if everything is going great.  I am not saying that you need to be fake.  I am just suggesting that you enjoy life in it’s current state just as you would enjoy it otherwise.  When someone asks how things are going, let them know about the good things in your life a how much you appreciate them.  Focus on the positive and the negative will work itself out.

7-Simplify.

Look at this as an opportunity to do something that will benefit your life no matter what the state of the economy; SIMPLIFY!  Simplifying your life is a wonderful way to get rid of the clutter, spend less money, have more time for what’s important and create a more efficient work environment.  I’m not going to go into all the details of how to simplify your life (that is a whole other post).  But I will encourage you to give it a serious look; you won’t regret it!

8-Help others.

Believe it or not, helping others through a hard time is a great way to help yourself.  For one, you will be doing something good and that is reason enough.  But you will also benefit from the positive feelings you get as well as the opportunity to network with others.  Anytime you present yourself to others in a positive light you will be opening the doors for opportunity.  And above all else, you will be focusing on something other than your current financial state.  This can be a great way to clear your head and bring back the bounce in your step.

9-Healthy living.

This is essential in any financial state but it is absolutely crucial when the going gets tough.  If you’re not doing so already, learn to eat well, exercise and get plenty of sleep.  As the economy starts to struggle the competition for success grows stronger.  So it it is important that you are at the top of your game.  And if you are not living a healthy life you are giving yourself a serious handicap.  And with this aside, you will be a much happier person whether you bring home the bacon or not.

10-Plan for the upturn.

If you take a look at the last 100 years you will see many ups and downs in the economy.  Gauging the exact time for these changes is hard to do but knowing that it will change is pretty much a no-brainer.  Just like the stock market, you want to buy low and sell high.  So now is the time to make your ‘investment’ for the future.  Find things that will most likely come back strong and position yourself to benefit when that time arrives.  A successful person doesn’t see change as an obstacle but as an opportunity.  Take advantage of this opportunity and prepare yourself for the growth that is to come.  The one to benefit the most from change is the one who most quickly adapts.

These are some of the things that I have done to keep moving forward in my constant journey to better my life and the life of those around me.  I hope that you benefit from them as well and would love to hear some of the things that you have found to help you keep your stride as you pursue a better life.