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Updated 30 Sep 2020

5 Reasons to drop the ‘recession’ mentality

Fearing the worst at the moment? Here’s why you shouldn’t.

Entrepreneur Magazine, Donna McCallum, 02 April 2012  Share  0 comments  Print

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Everywhere you go you can't escape the pervasive story about economic crisis and recession.  If it is not the TV blabbing about economic doom-and-gloom and bankrupt countries, then it is probably your friend or colleague moaning about money.

Make-over your mentality

My concern is around this 'recession' mentality is that stories of economic crisis are disempowering stories, negative stories that increase personal stress, anxiety, fear and decrease your ability to be an empowered entrpreneur and manifest and create your dream business. Here are five reasons why you should drop the 'recession' mentality.

1. It is just a story and stories create your life

Stories create our lives and whatever stories you fill your mind with will quickly become your reality. Do you really want to be in poverty, misery and have to skrimp and save for the next decade? No?

Well then STOP filling your head with stories about the economic crisis.  Stop listening to the media and most importantly stop talking to friends about it.  Get responsible and create another EMPOWERING story.

2. There are two economies - yours and the macro-economy

Yes, the Macro-economy may be experiencing a slow down, however at this time there are still people making millions of dollars and some are making more money than ever before. 

The difference between these people and the majority are that they realise that there are TWO economies - YOUR Economy and your country or world economy i.e. the macro-economy.  As an individual there is not much you can do about the world economy but there is a HUGE amount you can do to influence your own personal bank balance.

When the 'crisis' began in 2008, I realised that I needed to make up an empowering story that would influence my personal economy. My Fairy Godmother story about the current situation is that "in times of crisis people need inspiration, so now is the time for my business to boom."

Guess what?  Business is booming for me!

I was aware of this story doing the rounds called 'economic crisis', and I used it as an opportunity to do "early bird specials" on my workshops, where if people book and pay early they get a good discount and those offers are being snapped up. I am now filling up my workshops and am sold out four weeks in advance!  I have created my own booming economy despite the macro conditions.

3. Look for opportunities

Warren Buffet has a quote "When everyone is greedy be fearful and when everyone is fearful, be greedy".  People in the marketplace are fearful, so now is the perfect time to capitalize on opportunities that others are too fearful to take.

A friend of mine in New York who runs is using this time as an opportunity. He has gone on a massive PR campaign and instead of firing, he is hiring.  Why? He chuckled when he told me that he is now able to hire top MBA talent at a fraction of their previous cost.  The result is his business is booming.

You only have to look at how many "discount" and group-buying websites have sprung up in the last 2 years to realize that some insightful entrepreneurs are taking seeing opportunity in the current conditions.

The courageous will prosper and thrive. So get courageous, do things differently to the majority.  Will it take something?  Certainly, but the rewards will be huge. Now is the time.

4. Fear doesn't create anything

Creation as an energy form is expansive and growing. Fear as an energy type contracts and debilitates.  When you are fearful you don't take action in your business and you live in a constant state of negativity and mediocrity. 

The story of 'economic crisis' is a fear based story of scarcity, lack and victimhood.   If you really want to create an amazing business, where you are turning your goals into reality you will need to conquer the fears around you, so that you can step into the expansive and thriving energy of creation.

5. Your country needs you

Your country needs you to be an opportunist, an optimist and someone who is creating value and moving the world out of this macro financial state.  The longer people are paralysed by fear and scarcity, the longer it will take the macro world economy to move out of recession. 

The longer you remain in the 'story' of financial crisis, the longer the world will remain in the same story.   Your country and the world needs you to adopt an empowering story of creation, opportunity, wealth and abundance to shift the current energy. It is all up to you.

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Entrepreneur Magazine, Donna McCallum

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