Wisdom from Alan Weiss’s newsletters. Good advice for making sure you pull out of things.
“As the economy improves
• Don’t try to restore everything you cut, but do restore your highest priorities.
• Analyze some things you’re doing without to see if you really need them, even in better times.
• Start to treat yourself more. That’s a high priority.
• Learn the lesson, and assume this will happen again some time. How can you prepare better in good times? (Our economy has always had recessions, and every single one has ended. I’m fearless in that assessment.)
• In your business, focus on those segments which have stayed strong and also those with the greatest “catapult” effect for rapid growth.
• There are big expenditure periods arriving: year-end holidays, next semester school payments, taxes, and so on. Create an intelligent, managed plan to deal with them now.
• When you’re able, no matter how modest, resume or increase charitable giving. You’ll feel better, and it’s desperately needed (even prior to the recession, because of severe cutbacks in government and corporate giving).
• Plan a vacation and make the time sacrosanct.
• Accommodate two essential elements in your professional plans: marketing and self-development.
• Identify everyone who did you a favor (someone who extended credit, a banker who didn’t call in a loan, a neighbor who was gracious) during tough times, and reciprocate (refer people to them, give them more business, buy a gift).”