We’re the April Fools

We're fools! Through greed, complacency and comfort we created a huge mess. Now there are experts, pundits, philosophers and bandits telling us that the American Dream is over.

BULLSHIT! (You probably knew I was going to say that!)

Who the hell do they think they're talking to? These guys are ignoring the most powerful and effective group in America. In fact, despite flapping lip-service to the contrary they don't even know we exist!

The American Dream is alive and well and its booming beating heart is in the chest of the American Entrepreneur: YOU! Do you run a corner convenience store? Do you own a gas station, a hair salon or repair shop? Are you fixing the lawnmowers that Big Box sells but can't service? Are you a plumber, a small-town doctor, lawyer or dentist? Are you landscaping, building, paving or painting? Do you teach karate, Pilates, yoga or aerobics?

Uncle Sam doesn't just want YOU, he needs YOU!

American small business did not create this mess. We may have helped it along because we did sometimes borrow more than we should have, even if it was to keep our businesses going. We did invest in stocks that looked really great without spending too much time learning about the executives running the companies in our mutual funds. Some of us may have bought houses a little too big; after all the economy was strong, Freddie and Fannie were in great shape, right? We did have a few too many credit cards at times and maybe should have waited a little longer for that boat or summer home.

So what? We're still alive and kickin'! We don't get bailouts; we pick up a bucket and start bailing! We downsize, go without pay, lean our operation, cut expenses, cancel vacations, sell property and work extra hours.

The American Dream cannot be taken from us. We can surrender it, but it cannot be taken against our will. Will you allow your Dream to be taken from you? I won't; and most of the entrepreneurs I know won't either.

Rats always run from a sinking ship. Let them run. Our ship may be taking on water, but the American Entrepreneur is the guy in the bilge patching the holes. We're the damage control team. We'll get the pumps going again and when we bring this ship back to safe harbor we're going to be the people who enjoy the greatest rewards.

We'll know we can survive and prosper on our own terms. The confidence that you can face any adversity and succeed is the most valuable asset you can ever acquire. Confidence is not a line-item on your balance sheet, but you don't have a balance sheet without it.

The entrepreneur is truly a free human being. It doesn't matter if you're an employer, an employee, mom & pop or solopreneur; when you accept full responsibility for your own success and happiness you are an entrepreneur and you're free.

Fools made this mess and other fools let them. These fools confused power with control. Power is your ability to act effectively. That can never be taken from you; it can only be surrendered. Don't surrender! Work together, find partners for Coopertition ™, re-dedicate yourself to constant improvement in creativity, efficiency and productivity. Look for opportunity in this disaster.

We may have foolishly let the fools take control for a while; they will never take our Power!

Jim Bouchard is America's Black Belt Powervator; speaker, coach & author of Dynamic Components of Personal POWER! Jim will be appearing at several major events open to entrepreneurs in New England in April & May, click here for details!

Turn Economic Disaster into Profits

Every disaster is an opportunity; that's an old martial arts saying that works as well on the field of business combat. In the Art of War, Sun Tzu says:

"Speed is of the essence in war. What is valued in war is quick victory, not prolonged operations."

Entrepreneurs who are willing to be responsive and nimble are best suited to make adjustments necessary to profit in an economic downturn. Moving quickly doesn't mean you should make rash decisions; it means to prepare yourself to make meaningful decisions without hesitation and without regret. This means embracing continual development as an individual and as a company. When you're constantly engaged in research, training and development you're best prepared to respond quickly and efficiently when an opportunity is available; particularly in the middle of a disaster!

Here are some ideas you can implement quickly to turn disaster into profit:

• Reposition your message; emphasize the essential quality of your product or service…
  When the economy tightens discretionary spending becomes a real problem to those who provide otherwise "non-essential" goods and services. Remember that when it comes down to it, anything above and beyond food, shelter, acute medical care and basic transportation is non-essential. Find essential qualities that people will not want to do without under any circumstances and promote that message vigorously. Of course I'm assuming you deliver quality goods and services!
  
  If you operate a restaurant emphasize the need for an occasional night out to reduce stress and keep your sanity during tough times. If you run a gym make sure people know that health is not a luxury but a necessity, particularly compared to the cost of medical problems related to a lack of exercise. If you sell financial advice, what better time to impress prospects with the need for sound guidance during confusing and fearful times?
  
  
  
• Give it away…
  There is no better time to give than when there is genuine need. Giving during tough times earns greater appreciation and builds loyalty with current customers and prospects. You still need to stay in business, but decide what you can afford to give and do it today. Can you do a seminar offering substantive advice? A restaurant might give a free cooking class highlighting how to prepare great meals on a budget. A doctor's office can give away a free exam to new patients. Membership businesses could offer a trial period, even if you haven't had to in the past. Give bonuses with premium purchases.
  
  Look for ways to contribute to your community; non-profits are hurting during these times as well and the goodwill and networking you'll develop with a gift of time or other resources is extremely valuable.
  
  
• Coopertate! Embrace the competition…
  "Coopertition" is a word I coined to describe my willingness to look at competitors as allies. Leverage trade associations, Chambers and networking groups to develop strategic alliances with competitors. Together you can create co-operative marketing campaigns, develop buying pools and share resources. Compete fairly and work cooperatively.
  
  
• Increase marketing; reduce advertising…
  I define marketing as what you're willing to do to promote your business. Advertising is when you pay someone else to do this work for you. Make decisions quickly to leverage your resources and go guerilla in your marketing efforts. Put some feet on the street and get back to good old fashioned relationship building and community networking in your market.
  
  
• Downsize…
  This is always a tough pill to swallow, but sometimes a quick reduction in staff, facilities or overhead can keep you running in the black rather than digging a deeper hole just to stay in business. Smaller companies and "soloprenuers" may lack the resources to weather a bad economic storm; don't be afraid to cut quickly when necessary and utilize newly available resources to build back your strength.
  
  
• Lower prices…
  Maybe the last resort, but usually a viable alternative compared to closing your doors. Can you operate for a time on smaller margins? If so, change prices quickly and make a big hairy deal about it! Make sure your customers know you're walking the walk with them. Times are tough, we're all in this together. Turn a price reduction into an opportunity to develop good will with current customers and a marketing opportunity to generate new business.
  

It's most effective to combine several strategies. Make decisions quickly and implement them immediately. Never look at any of these adjustments as a failure. You're doing what it takes to survive and prosper during difficult times. At the same time you're developing skills, knowledge and resources that will position you as a leader when the economy recovers.

No matter what you're facing; continually develop yourself personally and as an organization. Use down-time as a new found opportunity for training, research and planning. Position yourself to make more effective and efficient decisions now and in the future, in good times and bad.

Jim Bouchard is America's Black Belt Powervator; speaker, coach & author of Dynamic Components of Personal POWER. Watch for upcoming programs on how to prosper during an economic downturn. Stay up to date on this and other program, and receive thousands of dollars worth of bonus resources by joining our "NO SPAM" mailing list! Register at JimBouchard.org!

Generosity: The Perspective of a Bailout Skeptic…

Admittedly I’m not currently a top-bracket tax contributor; but I work very hard for the money I contribute annually to the general fund. I’m a small business owner who has paid taxes on paper profits several times over the years and has gone without health insurance to keep staff on the payroll and make ends meet. Like many of you I have a hard time spelling the word vacation in lean years and I sometimes laugh at words “week-end.” I don’t think the failure of any of my businesses would cause a ripple on even the local economic pond; so I doubt I will be eligible for any government bailouts any time soon.

I’m a little tired of people talking about “government” money spent on these bailouts. That’s my money, and it’s your money. We the people contribute to the general funds that support national, state and local government. We the people are getting hosed.

Have you ever had a friend in need who begged you for a loan, only to find out that friend used your hard-earned on some frivolity like a weekend bender or a new car stereo for a his junker? That’s what’s happening to us right now, but the tab is in the billions:

Days after receiving their bailout, execs from AIG Insurance splurged on a $440,000 corporate retreat including golf, spa treatments and banquets. Nice; did anyone invite you along?

Here are some more presents you just gave your friends and neighbors, allegedly to stave off the next Great Depression:

I hope some of you are NASCAR fans; you just gave $100,000,000 in tax breaks to race track owners. Maybe they’ll send you a thank you card with tickets to the next race.

Drink rum? You just paid for $192 million to rum distillers in Puerto Rico and the Virgin Islands. Lord yes, we had to keep that precious stream of rum flowing; you’re going to need it as you read on!

Don’t worry about the high cost of heating fuel this winter, you also just paid about $150 million to wool producers; now you can buy cheaper sweaters to keep you warm!

Remember the Exxon Valdez disaster? Exxon will soon be sending you a thank you note. It’s the least they can do; you just picked up $49 million dollars of the tab for that one. This money is going to fishermen and other plaintiffs who were suing over lost fishing grounds and revenue. Maybe Exxon will give you a discount next time you fill up as a small token of gratitude!

Do you feel good yet? You should, after all helping your neighbor is what it’s all about. If you pay state income tax to help fund your school systems, you just helped your neighbors in states without income tax by subsidizing their educational costs with a federal tax deduction. That one zapped you for about $3.3 billion. I’m going to think about this one every time I pay my “use tax” in Maine for stuff I bought in states with no sales tax.

And folks, this is just the Quickbooks version of your generosity! You’re also funding a study of arctic squirrel hibernation, tax breaks for bicycle riders and a subsidy for manufacturers of wooden arrows for children. I suppose they may be preparing for the next generation’s version of the Boston Tea Party.

By now you be feeling as if you’ve done your part to prevent a repeat of the bread lines and Hooverville shanty towns that still remind of us of the perils of economic disaster.

I may have overlooked all of the above, but there was one pill too bitter for me to swallow. I suppose it’s obvious to everyone but me that America would be reduced to a third-world wasteland without the enormous contributions of our great Hollywood film and entertainment industries. This is not just a matter of keeping P Diddy in Cristal, Sheryl Crow in toilet paper and Matt Damon in private jets; no, this is a matter of national security. Where will our next generation of America’s defenders find inspiration without the next great recruiting film from the Rock? How will we know the truth without Michael Moore? How will we keep our population strong without the stimulus provided by Salma Hayek?

I suppose I’ll just have to concede this one. After all, along with you I just contributed $478 million to Hollywood in hopes that they’ll keep me from losing my home and living in a tin shack. Oh well, maybe just to say thanks they’ll send us all one of those $5.00 movie coupons or give us a dollar off our next $12 bucket of popcorn.

Movies, arrows, bikes, squirrels, rum and race cars; all important to someone I’m sure. I just don’t see how this stuff got tagged onto the “most important piece of legislation in our generation.” I don’t see how any of this pork does anything pull us back from the “brink of economic disaster.”

If you’ve got it figured out; please let me know. In the meantime, I’m going to barbecue a squirrel I’ll shoot with a wooden arrow, drink some rum, watch a movie and wonder what the hell just happened to my money.