Foresight Thinking: The Power to insulate Yourself and Your Business from disastrous Economic downturn

                             

#Business

Most business face a lot of challenges ranging from lingering fuel shortage, irregular public power supply, multiple taxation by the various arms of governments, dwindling disposable income by the greater percentage of working populace, unemployment, rising foreign exchange and the list goes on and on.

These are economic problems  that make life difficult for the entrepreneurs. Doing business had never been easy. With this sort of problem thrown into it, entrepreneurial must be considered as dangerous game by many now. It’s so dangerous that many will not even touch it with a long pole.

However, on the blog today, I am going to x-ray some of the strategies in which an entrepreneur can adopt in order to handle any obstacle that may come his way in the course of doing  his business.

As a business owner, you are fortunately (that word is used advisedly) already in it. There can be no going back. You have burnt the bridge behind you. This is no time to be faint-hearted. This is a time for you to rise up to the occasion, by embracing the reality of risk taking that is associated with doing business.

You may have considered packing your business in before stumbled on this post. The clear message from me is: Don’t even consider it! At least suspend the action until after you have read this blog post. I believe you will learn something that will proffer solutions to your business problems. So let’s get started.

Also read:  Business ;How To Prevent Your Company From Going Under.

Let’s face it; things could be very tougher than they are now. You don’t believe it? Cast your mind back into history and you will find that worse things have happened to many generations of business owners before you. If that is so, what did those entrepreneurs do in their own situation? How did those who survived then do it?

As history books will show you, many business owners committed suicide in the face of difficult times such as you are experiencing now.

But taking one’s life is never a solution. It is act of cowardice. I know it is usually a tempting choice.

The moving story of Marshall Field told by Napoleon Hill in his world famous book, Think and Grow Rich (I strongly recommend this book to you because you need it now than ever before), help shape your thinking on what to do when economic downturn hits a nation the way it has hit many countries for sometimes now.

The solutions lie in these four strategies which are:      

                                            

STRATEGY # 1: KNOW WHAT IS HAPPENING

Do you realize that ignorance is responsible for many of the suffering that you see around you? Man, by nature, prefers to worry about things than taking time to analyze the situation, and find a solution to them.

For more insight into this topic, I strongly recommend Dale Carnegie’s How to Stop Worry and Start Living. This powerful book helps in no small way to stop worrying about everything.

As a business owner, one of your cause for concern could be the petrol shortage which has increased the cost of doing business and may have, in your particular case, throw your business out of the profit zone.

Without any doubt, one of the biggest headaches that an entrepreneur can face is to suddenly discover that he is no more making profit from his business. The reason is simple, unless he can quickly halt the slide; he will shortly be out of business, no matter how much cash reserve the same business had built in the past.

That being the problem, begin by asking yourself what you can do about it? What are other businesses around you are doing about it? Since petrol is not what you can get another source, there is very little you can do about it.

Therefore, you must begin to look at other aspects of your business where you can reduce cost. Because business had been good, it would never occur to you that you were spending more money in certain areas of your production until now that circumstances have force you to take a critical look.

STRATEGY #2: CARRY OUT A WHAT IF EXERCISE

It is not always that your source of worry is something that can be easily managed. Sometimes, what you considered to be a problem can be what you perceived to be totally out of your control.

For instance, you can look at events as they unfold around you and come to the conclusion that peace may be threatened and you may not be able to continue your business in this circumstance.

Think about it: any disturbance to peace usually ends up in business owners running into financial crisis. If it becomes a prolonged conflict, God help the business owners!

What if exercise or game is a process where you try to project yourself into future and conjure all sorts of things that might happened: the good, the bad and the very worse.

Taking each situation one after the other, you begin to put yourself in each setting and say, suppose this what to happen what will I do? What steps should I find myself in this position?

As you picture these scenarios and ponder over them, you will discover that your subconscious mind will start to proffer solutions to you.

What if!What an interesting game for solving many of life’s great problems!

Warning: Don’t play this game when you are desperately in need of solution. In other words, don’t wait until things you don’t want have happened to you before you start to look for a way out.

STRATEGY # 3: POSITION YOURSELF AS A PROBLEM SOLVER

It’s amazing, but I’ve discovered that there are many business owners who don’t know why they are in business.

If you think that is a lie, I will give you example that proves without doubt, that I’m 100% correct.

Have you ever had anything to do with a business in the market place that treated you, the customer, like a shit; behaving as if you and your money meant nothing to them?

If you have, then you have just encountered a business and it owner, who didn’t know why they set up the business.

So, the best way any business should see itself is a problem solver. Once you allow the idea that you are a problem solver become part of you, then congratulate yourself because I guarantee that you can never go broke.

Problem solving is the key to success as an entrepreneur. The moment you learn to be spotting problems and doing something about providing solutions to them, the rest of the world who need the solutions that you have just provided will gladly pay for your efforts.

Listen to me, folk. The day you realize that finding solution to many of problems that surface in the world is secret to building a great wealth, you have had it made.

STRETEGY # 4: TRUST ABSOLUTELY IN GOD AND DO GOOD

Why are we afraid of tomorrow? There will be as many answers as the number of people answering the question.

But no matter what your answer is, what I have personally discovered and I believe firmly, is that we are scared of tomorrow because we have not learnt to trust God absolutely about our future.

Think about it again, what is there to worry for about the future if one learns to plan for the future today, right now, and then place one’s trust in God’s hand believing that being a faithful God, He will ensure that all will be well tomorrow?

I know what we think when we have to confront this sort of question. We look around us and see so many people whom things didn’t end up well for and we say, here comes another casualty; I’d better worry about tomorrow so that I don’t end up like Mr. A or Mr. B.

But the question to answer is: who says you are going to end up like Mr. A or Mr. B? Nobody. But thinking so, create that reality for you. Remember, you are what you think you are.

One thing that helps one to feel comfortable about tomorrow is to pack today, the present day, with good deeds.

Feeling comfortable about the feeling that all shall be well tomorrow is a notion we grew up believing is not possible.

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So it is not an easy thing to change that wrong notion over-night. But seekers of peace of mind must learn to feel comfortable with the thought. So there we are. I have just revealed the potent power of  FORESIGHT THINKING to you.

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To your business success!