Where is the happy ending?

It is human nature to want everything to be OK. That is why we love and crave a happy ending in a movie and always want our footy team to win. It is also why we are scrambling for a sign that the economy is going to be just fine, phew the hard times are over!

It is human nature to want everything to be OK. That is why we love and crave a happy ending in a movie and always want our footy team to win. It is also why we are scrambling for a sign that the economy is going to be just fine, phew the hard times are over!

Well it is a bit early for that yet. There is plenty of talk in the headlines around the first ‘green shoots’ of recovery, but in my opinion we are not going to get off quite that easy. It is likely we will be feeling this global financial crisis well in 2010 and any talk otherwise might make us all feel good on the inside, but really it is just spin. When you look at the fundamentals the second half of this year is going to throw up a range of challenges, from rising unemployment, to increased interest rates and the final deadline for the First Home Buyer Grant. The recent economic fall out is like nothing we have seen in recent decades and we need to understand that the issues we face are not going to vaporize so quickly. The regeneration of the economy takes time.

I am not saying that now is a time for pessimism, it is simply a time for realism. Clasping your hands over your eyes and blocking out the reality isn’t going to do anyone any favours. But fronting up to the real situation and forward thinking is.

If you are in business, you always need to think beyond the present day. You need to put strategies in place and be ready and willing to make changes. This is nothing new, even when times are good, solid businesses plan for the down times rather than just letting them sneak up.

If you are selling your home, it is a time to be informed and it is a time to find the right advice. Don’t choose an agent who just tells you what you want to hear, choose an agent who understands the market and is realistic. If you are looking to buy, then ensure you don’t make decisions on what the rest of the world is doing. Don’t be tempted to follow the herd, look at the facts and again, be informed.

No matter who you are, keep your eyes open for the opportunities that present themselves in this current climate, because I assure you they are there.

And in finishing, I have to say it is refreshing to see a little confidence return, it just needs to be harnessed in the right way.

We're celebrating!

Realmark has been recognised at the 2009 Australian Business Awards, winning the Marketing Excellence category http://pitch.pe/16846

The brave will inherit

Is it just me, or are you feeling like a stand of bamboo which, if you believe the government, is sprouting the first green shoots of new growth after a dry season.

If that’s the case, it must mean there’s been plenty going on underneath the surface too if I’ve been capable of actually creating these tender leaves.

While I’ve been working hard at that, consumers have been feeling a little cocky with the infusion of money into the system, mainly through government stimulus. But that’s already starting to dry up and forecasters are shadowing Western Australia in particular, is yet to hit the bottom and truly feel the full effects of recession.

If forearmed is forewarned, then we can do something to smooth out the immediate future.

The boom that has passed and the recent period of government-subsidised activity has meant it’s been easy for even ordinary business people to do well because a buoyant economy has papered over any mistakes and naturally readjusted.

But no more. Because from here on in and for a little while, you will wear your miscalculations and the market won’t be hauling you out of it.

It’s time to act smartly to prepare now for what’s coming. If you’ve been a huge or solid success in your industry or your investments to date, don’t automatically assume that doing things as you always have will see you through.

If you consider until the GED your world was working at an arbitrary level of factor 12. Now perhaps your world is having to reset and operate more at a 7 or 8. This is still an excellent level to be at; it’s simply a matter of changing your mind-set.

There are more challenges to come and lifestyle and business MUST change. These changes will have some negative effects in the marketplace but with a little preparation, adapting practices and resetting your head space, you can address a constricting volume of opportunity successfully.

It doesn’t matter if you are a businessman, buying a new home or dealing with your personal life, it’s time to look in places you haven’t explored before. Use all the skills you have gained to date and refashion them to this brave new world paradigm.

People who don’t (or won’t) adjust haven’t seen the reality of the economy. Just as you let a bull market ride you to the top, it can also send you screaming down the rollercoaster into a dip.

Most people don’t like change or to be challenged. This market is showing us all who they are – and be it at your own peril if change is not understood and embraced.

History recounts some of the world’s most notable companies making their biggest headway during down times. They’ve done it because they’ve looked ahead, changed their ways and grabbed new opportunities.

Now it’s your turn…but it’s up to you!

Wise Words

Yesterday morning I went along to hear Christine Christian of Dunn and Bradstreet speak as part of The West Australian’s Leadership Matters breakfast series. And it wasn’t pretty, she offered up a very frank account of the economic situation we are facing. Her opinions are very similar to mine in that despite what the headlines might be saying, I don’t believe we are seeing the beginnings of a recovery just yet. I am not sure that we are going to get off that easy. My sense is that we will be feeling this crisis until well into 2010 and talk of “green shoots recovery” may be a little overly optimistic feel good spin. I am not going to go into all of the finer details of the morning, but I have to say her last words were the most important. They went something like this ‘many businesses are going to realise and maximise the opportunities that are thrown up by this market and those businesses that do survive won’t act like victims.’ Wise words.

Craft is the key to smooth sailing

The world as we knew it is no longer. We’ve never been here before. Forecasters can’t predict with certainly the way anything is going to happen or act. We are on a new island – and the ocean around us has receded many miles.

Because it’s new ground, there are so many givens which no longer apply. It’s also your chance – and my chance – to do things differently; to stand out.

I went to an industry gabfest last week which brought together not just real estate companies but professionals which interact with the real estate industry. A Melbourne visitor with a respected marketing company reminded us that in times of a downturn, we can’t totally retract spending. Instead we need to use what we can afford in a more powerful way, have meaningful interaction and offer clients a clear point of difference.

It’s no good promising the world anymore. People have become too cynical for that. I know bottled water is still water, even if it’s packaged in different kinds of bottles. But add fruit to one and I’ll start thinking about it. That’s the point of difference.

People are seeking an honest and resonating assessment of their needs, an achievable way through to them and straight talk. That makes people naturally more receptive and it will win you clients for the long term, not just one exchange. Anyone selling something wants a serious client. In return, clients want honest interaction.

We can achieve that on a personal level too. You might not have tons of money to throw about, but you can make time to give of the unique things in yourself. Be daring and see what wonderful results it yields.

While the economy may be bobbing about like a buoy on a rough sea, there is one thing you can definitely do: know your craft. Whatever it is you do, know who you are, what your business is and how you do it best. If you can explain why you are doing something clearly, then you are more likely to be heard and more likely to be listened to.

You must have a really solid keel on your boat to win the race. Too much sail and not enough keel won’t get you over the finishing line in good shape. Translated: too much salesmanship without method or craft will simply dash you on a reef with little hope of rescue.

Clients are very receptive in this market and are looking for new and fresh ways to get what they want. Put yourself in prime position to leverage that interest into something concrete. Construct a solid keel and confidently sail towards the finish line first.