As I sat down to write this newsletter it struck me how much the world has changed in the 30 days since I wrote my last one. Economic meltdown, recession & financial crisis are some of the words that are cropping up in our news reports and conversations. While there is no doubt that Canada is a little more sheltered than some countries it is a situation that is concerning us all. The headlines translate to apprehension regarding the family budget and monies invested for the children’s college and your later years. For those of you who are entrepreneurs there is the worry around how to get your business through the next little while and come out intact on the other side.

There are ways to control the current situation. First, you’ve got the gist of what is happening out there, stay informed but don’t overload yourself with every news report and article that comes your way. Then remember that knowledge is power so make appointments with the people who handle your business & personal finances and talk to them.

At home get back to life’s basics and simplify.

• last year’s dress pants are just fine with a new top
• family night doesn’t have to mean eating out
• for books, CDs and DVDs both Amazon.com & Amazon.ca have ‘used’ links
• view this as an opportunity to cut back the kid’s overextended schedules of (costly) extra-curricular activities. Make sure though that they are part of the process of deciding what goes and what stays.

While I am not suggesting a Gratitude Journal à la Oprah, do stay focused on the good and positive things in your life. Perhaps re-connect with the religious or spiritual entities that strengthen you.

Nurture your business

If ever there was a time to really understand & connect with your clients/customers it is now. You have to know what they are thinking and feeling. Then create viable products/services so that they not only want to do business with you but so that they can afford to do business with you.

As your own priorities are changing with the economic uncertainty so too are those of the people with whom you are doing business. Don’t offer only big items or services in costly packages. Look for ways to acquire small but steady streams of income. This will meet both your needs and theirs.

Start a dialogue with old clients/customers, remember they already know and trust you; see how you can help them.

I recently read an article in Time magazine on ‘Creative Capitalism’ maybe this corporate concept will inspire you to become a creative entrepreneur. To think outside of the proverbial business plan. You could start by seeing how your business expertise & experience can help a charity or non-profit organization.

Remember history has shown that the worst of times can so often turn out to be the best of times.