3 Things You Can Do To Recession Proof You
April 8th, 2010 | 
Author: 3 Things You Can Do To Recession Proof You
“The best motivation is selfmotivation. The guy says “I wish someone would come by and turn me on.” What if they don’t show up? You’ve got to have a better plan for your life.” Jim Rohn
It is amazing how you may not realize it but you have the most important job on the planet. You are the CEO of the most important company in the world Y.O.U. Inc.
And like all CEO’s you must understand the numbers that make your company thrive if not then you could expect what all non performing CEO get FIRED! But you don’t get to walk away with a golden hand shake or the prospects of a better job. All you get is a diminished quality of life that keeps you wishing and longing for more all because you did take the time to better understand the three most important numbers to your corporation. What are those three numbers? I am glad you asked.
Every CEO is concerned about expenses. And each day you hear of companies implementing cost cutting strategies in order to return to profitability. Word like right sizing downsizing and early retirement packages are some of the synonyms used but the bottom is they are cutting cost.
Therefore as an effective CEO the first thing you need to do is cut cost. Begin by reviewing your monthly expense and cutting where ever possible by asking the question “is this really the best use of my hard earned money?” And if the answer is no then you know what.
And even if it is something you need you may find that the cost you are paying and the quantities being consumed may need adjusting. Never forget that “every dollar you spend has the potential of jeopardizing rather than enhancing your financial future.” You will also find “Taking Control of Your Money” workbook is a useful resource to help with cutting expenses.
The second number that every effective CEO is concerned about is Revenue. Therefore his focus is on generating the maximum revenue or income possible by developing as many income streams as possible.
You should be no different. Your focus should be on creating as many income stream as possible and moving away from depending on only one source of income. You would be surprise at how much money you are leaving unrealized every day because you are not using some of the skills you already have. Consumable skills like cooking sewing plumbing electrical carpentry and auto repair are in demand and will continue to be. So what do you enjoy doing it may just be your passport to another strain of income. And if you don’t have a skill then now is the time to learn one.
The third thing that every effective CEO is concerned about is optimizing spending. Simply getting the best value for every dollar spent. Are you getting the greatest bang for your hard earned buck?
A good place to start is with your grocery shopping. You will be surprised by the amount of extra money that you are leaving in the store each week. Are you paying your bills on time? Here is another area where you could be throwing away your money and getting nothing in return. Begin looking at every purchase through the lens of “Am I getting the most value for this dollar?” And if you are not then adjust your spending habit.
By simply cutting expense earning more money and getting the most out of every dollar you spent will beginning now will make a significant difference in the quality of life you enjoy.
“Time is our most precious asset we should invest it wisely.” Michael Levy
Copyright is a2001 2009 Glenn S. Ferguson
About the writer: Glenn S. Ferguson is a Speaker Coach and Syndicated Writer helping you to painlessly manage your Money to create wealth for you and your family. Email to glennfinancialcoachingwithglenn.com Website: www.financialcoachingwithglenn.com
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