It’s not easy but it is necessary, even expected, of today’s business leader. Your confidence will be observed by those around you and will become quite contagious. If the team moves in a positive direction, the entire organization will have a better chance of succeeding. That’s important in today’s challenging business environment.

In corporate America today, there is a desperate need to do more with less. The stress of trying to create a positive cash flow when sales are down might force you to develop an approach that has never been tried before. Don’t say it can’t be done – try it. You may be surprised at how innovative thinking suddenly develops when a positive attitude is created.

Another personality trait attained when you’re in a positive mental zone is confidence. Without the will and desire to accomplish even the smallest task, there’s really no point in getting up in the morning. Your optimistic approach to the job at hand will take you to the next level of accomplishment. Part of building a respectable level of confidence is developing and attaining a set of goals that you set out for yourself and your organization. Accomplish each goal, step by step, and your confidence will flourish. You’ll start believing you can do whatever you set your mind and heart to do.

Oh, and one other thing – love what you do. That’s extremely important because once you find that your life’s work is actually something you enjoy doing, you’ll want to do it more often. You’ll want to make sure it’s done competently and those around you will also start feeling the same way. It’s often been said that if you love what you do, you’ll never work another day in your life.

But many of us are trapped in positions and in companies that we don’t enjoy because of the current shape of the economy. What can you do if you find yourself in that situation? Maybe it’s time to get out and start searching for that one thing that you are passionate about. Time to start enjoying the day from sunrise to sunset. Let your passion drive you forward and find what it is that will create a solid, confident, and positive attitude within you. It’s in you right now; you just need to do some soul searching to find it.

Your attitude and the way you think are entirely under your personal control. A positive attitude will help you lead your team to victory. So, when you think about it, your future success, even your very health is something that you can control if you literally put your mind to it. Think positively.

Remember, you may be down but you’re certainly not out by a long shot. Time to start the rebuilding process and the sooner the better. The faster you start, the more time you’ll have to put away the cash, the assets, the peace of mind before you really need it. But what to do first?
You might look back and try to remember where you started when you first left home or when you first got married. Chances are you began by putting away what you could in a bank savings account. That is probably a good place to start now.

Recently an economist said that average U.S. household wealth is down almost 20 percent from its pre-recessionary financial crest three years ago. There has been no reduction of U.S. household wealth in the last 50 years that has even come close to touching this loss. Many of those who supposedly know (government officials, economists and the like) are starting to believe that the “Great Recession” has probably seen its worse and investors are beginning to get restless about standing on the sidelines. But, many more are not yet interested in getting back in yet. There are fears that they might run into a second phase of this recession period and take another big hit. And others are getting nervous about the possibility of losing out on something big when things do begin to look clearer economically.

So what should we do? The answer to that question is very personal – it’s your money and that means its entirely your decision. But let me just throw out a few facts that may help you make some very important decisions.

Many people I talk to are ready to jump back into stocks. The negative or positive activity experienced by the stock market is normally guided by the strength or the weakness of the U.S. economy. When our economy begins to expand and the chances of inflation are relatively slim, the stock markets tend to thrive. Today, I don’t think we know the answer to either of those questions because growth and inflationary questions remain persistent today.

I don’t know about you, but I’ve been hearing lots of advertisements about investing in commodities these days, specifically gold. During periods of inflationary pressure, the commodity sector has been where many people go to find a financial refuge. Although gold has been showing some considerable strength, it has also shown itself to be rather stagnant over the last few months – not gain or losing much in the process. The Fed has stated this year that if inflation begins to show itself while our national economy continues to be on the mend, they will pull back some of the liquidity they’ve put out there in order to slow it down. This will indeed have a great impact on commodity pricing.

So where to go? Back to that savings account at the bank that hardly pays anything as far as interest is concerned. Or maybe its time to remain on the sidelines and get involved in CD’s or other interest rate vehicles. While these types of investments aren’t very lucrative, you can be sure of one thing…you’re probably not going to lose in the process either.

Are you in a mood to take a chance or are you in preservation mode right now? Remember the old adage – “You pay your money and you take your chances.” But the chances we are experiencing today are not like anything this generation has ever seen. Getting back in or staying on the sidelines is a decision that each one of us must make independently and not by the flipping of a coin. Get educated and make sure the decision you ultimately make is one you can personally live whether your investments go up or whether they go down.

A while back I wrote an article that explained how I use a method to compartmentalize my own personal situations. In other words, I know that there are problems and situations that I must deal with at some point in my life, but that time might not come for another day or another month. I’ve taught myself to put those issues in the back of my mind – in a mental “compartment,” if you will – which allows me to deal with the most immediate situations first. Those issues that I have to concern myself with next week won’t be interfering with my current daily routine until the time comes to deal with them appropriately.

It’s not that I’m ignoring the problem; it’s more about postponing action until action is required. It takes time to master the knack of doing this but once you can control your thoughts a little better, you’ll notice that life won’t seem like an insurmountable task. Taking little chunks and handling each thing in a priority order certainly will help you develop a more positive attitude about your life.

Even before you get out of bed, stretch your body and your mind and prepare for the day ahead. Quote to yourself some positive affirmations knowing that if you think it, it will likely happen. If you get up in the morning with a negative mindset, your whole day will reflect that attitude. I guarantee it! Instead, get up with a positive thought, before a random life event takes hold of your daily routine. Things happen and most of how these events affect you is entirely the result of how you mentally handle and accept each situation that comes into your life.

It’s really very easy – if you think you CAN’T you will never accomplish anything. You remember as a child when you were first read the story of the “little engine that could.” The little train was chugging up the hill just saying to itself over and over – “I think I can, I think I can.” Well, it didn’t make any progress until it started telling itself– “I KNOW I CAN!” The moment you know you can you will help you begin to see how your mental state of being will always assist you in attaining the next goal, your next life objective.

Don’t get me wrong, I’ve had plenty of rough spots in my life and there were times when I felt the only thing to do was to give up. But someone gave me this same advice and I decided to try it. Once I could rearrange my thoughts from mostly negative to mostly positive, amazing things started happening to me. Those issues that I once thought were “mountains” that I could never climb suddenly flattened out and I could now run rather than limp through my life. I also found that there were quite a few people out there who were willing to help me overcome some of my challenges. In short, my life started changing for the best and I’ve never looked back.

Unexpected things in life will occur, anther great and logical reason to get your mind set on a more positive course now. If you have a stable mental process, when you hit one of life’s snags, you’ll be more likely to handle it more productively. Kind of like saving up financially for the proverbial “rainy day.” By preparing, whether mentally or financially, you’re ready for anything that might throw some problems your way.

So from this day forward, begin each new day by first taking positive control of your thought process. Don’t dwell on the bad stuff; instead think about the good things in your life a little more than you have been. Be thankful for your family and friends, your health, your experiences, and your dreams and you will soon find that your dreams will soon become the reality you’ve always hoped for. It happens – it’s happened to me.

With all of the frustrating economic events going on in the world today, starting a home based business could possibly be the only way to solidify your financial future. If legitimate home business opportunities were straightforward and simple to deal with, everyone would succeed. I have to be honest – many new businesses fail. It’s going to take a lot of hard work and long hours to get your new venture off the ground. If you are willing to do the work and learn a few things, you can truly excel at it.

Lots of people have started working for themselves simply because they didn’t have a choice. The traditional methods of making a living have all but disappeared in today’s fragile economy. While I’m sure this has caused a lot of anxiety, many people have found working for themselves very liberating. You set your own hours, you set the limits on how much (or how little) you make, and most people have found that for the first time in their lives, they are enjoying the day- to-day routine. They have found that they are now doing something they want to do….not something they have to do.

Once you get all the preliminaries out of the way (determining what it is exactly you want to do, legally developing your company, creating a website), you just might find that you were made for entrepreneurship. Hey, it’s not easy and takes a lot of work. And remember, have a plan. No matter how large or small a company is – a business plan to a must. It’s your map to success and a requirement.

There are plenty of resources that you can tap in to help you through the beginning year of your new venture. The U.S. Small Business Administration is a must. Visit an SBA office or just go to their website. There is so much information available online to help guide you through many of the questions you will probably have in the beginning.

Make sure you spend some time networking with other entrepreneurs in your local community. There are always other people out there who have gone through the very same things you’re trying to accomplish. These individuals will offer you valuable information that will no doubt save you time and money. Pick their brains and get all the information you can before going one step further.

Networking can be accomplished online through various social media sites, going to physical training classes, or finding local business gatherings. Sales are frequently developed through these personal sessions by creating personal relationships with others. You must make this a priority. If you don’t feel comfortable socializing, it’s time to try and develop your skills in interpersonal communications. Effectively talking to people can make or break the effectiveness of your new business. Sales is about touching people’s needs and desires at a very personal level so it’s important to develop your sales skills to a point where you are comfortable interacting with potential customers.

You’ll probably find that you’ll be putting on more than the 40 hours you’re used to, at least at first. But I think you’ll also find that you will be enjoying the time spent. This new business belongs to you and you’ll be surprised at how fast you’ll catch the entrepreneurial “fever.”

Start using your personal and professional skills to your benefit…who knows, you might enjoy it.

So, what’s the answer? One phrase, “spend less – save more.” It’s time to design a very positive approach to actually changing your habits and develop individual goals. This kind of action will better secure your success in obtaining meaningful returns through an actual meaningful reorganization of your financial life. A recent government report showed that Americans cut their spending and saved more for a sixth straight month as more and more people were either worried about finding a job or keeping a job.

Goal setting is another top priority. Determine specific and attainable goals, short and long term, and make sure you write them down. Physically writing them down gives them power. The act of writing and visualizing your goals makes it much more likely that you will actually achieve them.

You must also understand your current financial situation to know where to make your changes. Add up your assets and your liabilities. Find out how much you owe on your home, your cars and your credit cards and conclude how best to shape and maybe cut those liabilities down a bit during the year ahead. It’s always a good idea to get rid of debt, especially high interest debt. You might also consider establishing new insurance needs. Examine the validity of your current life, disability, home, health or auto policies and decide whether changes are required. If you’re like the rest of us, you probably haven’t looked at your policies in quite some time.

Again, the best way to establish a solid financial plan is to save, save, save. The general rule is to put away 5 percent to 10 percent of your take-home pay, if you can. Remember to pay yourself first and don’t wait for what’s left over after you pay your bills. If that’s your strategy, you’ll find it difficult to save anything. You should also be sure to set aside your savings in an interest-bearing account, such as a money market account, or in a tax-deferred account like an individual retirement plan (IRA). If your company offers a 401(k) plan, start contributing as soon as you possibly can, especially if the company matches your contributions. Once you’ve finished the basics, then you can start examining your portfolio and other investment opportunities.

Something else to pay close attention to, especially during this time of the year, is your tax strategy. When you receive your annual W-2s, make sure your monthly tax payments are being deducted at the proper level. The trick is to come as close to breaking even as possible on your federal tax returns. You should keep and invest your money throughout the year rather than allow the government to use your hard-earned cash.

Remember, it doesn’t matter how old or young you are, or how much money you’re making; now is the time to start improving your financial situation. There are a lot of important events in our lives that rely on our financial health – education, weddings, vacations, security, and retirement just to name a few. These times are tough, there’s no doubt about it, but we all must start to rebuild what we have lost and set goals to get back to where we want to be. It’s important and the sooner you start the sooner things will start to improve for you and your family.

The topic of money never remains fixed. Tax laws are always changing, and as we’ve seen recently, the laws pertaining to credit changed and were updated, plus there are always new and different investment opportunities that are developed and must be considered. These are just a few examples; I could list many more, but you get the point. Your financial education on the subject of money will never be finished so just adjust your thinking accordingly. One of the things I suggest is to spend some time researching financial papers and periodicals. So congratulations, if you are reading this, you have already started. Keep it up.

Additionally, there are lots of other methods in becoming a student of money. Many local community colleges offer courses in basic money management, which are normally taught by Certified Financial Planners and other similarly credentialed financial professionals. These classes can be an excellent resource for you. The only caution I’ll offer you about these courses is that sometimes the instructor may use the class as a platform to give out his opinions on how to invest, or even as a means of adding clients to his list of customers. So, you’ll want to pay close attention to the information, and be sure to “weed out” those bits of information that seem to be less than standardized financial knowledge and more financial propaganda or a sales pitch. Something to consider as your wealth builds, you will actually have to spend more time, not less, watching your money. Hey, this is a good problem to have, but it is an issue nevertheless.

You probably spent a lot of time and effort gathering the money you have available to you. So it goes without saying that you must watch out for the scam artists. We’re all familiar with these folks; people who just seem to represent the lowest echelon of human existence. And I’m not only speaking of hardened criminals, but people who live in such a way that their lives are centered on the acquisition of negative energy using risky tactics. Behavioral science has shown us that when honorable people are brought together with those who are less than admirable for an extended period of time, it is very likely that the decent folks will more than likely drop to the level of their counterparts than the other way around. There are a variety of theories as to why this is the case, but chief among them is that it simply requires less effort to fall down than to rise up. The activities in which the less honorable folks are frequently engaged are admittedly very appealing at an instinctive level. So just remember what you were told as a kid – “If it sounds too good to be true, it probably is.” Be careful!

One thing is for sure, it’s going to take a lot of hard work and self-control to build a solid financial future for you and your family. There’s not just one method of doing so but there are certain constants that apply to all of us. One of them is that you will have to commit yourself to getting the education you need and then taking the time to do so. Once you realize that there are hundreds of factors that must be studied, considered and applied every day, you will be well on your way. Start your research today. If there’s one thing that we all should have learned in the past couple of years, the financial stature of our lives depends on the decisions we make today. Poor choices create unfortunate situations when times get tough. Start creating an economically sound plan that will guide you to a more solid financial life for your future.

The global economic situation turned from bad to worse during the past 18 months and it probably won’t get much better in the near term. You can be assured that unless you keep the proper attitude, plan for any possible financial downturn and create a solid set of goals for the coming year, you will be in a weaker position. I’ve seen some prognostications across the board that the typical American consumer will have to “tighten up the belt” just a little more in the coming months. Some retailers are saying that even if the customer has the wherewithal to pay for items, the chances of finding them might be hindered because many retailers are hesitant about holding a large inventory.

One thing is certain. It’s the American (and global) consumer that will ultimately bring us back to financial solvency but not until they are confident enough to start spending their hard earned dollars (yen, euro, or pounds) again. The current global economic downturn has really exposed the financial “underbelly” of many personal households. No family ever handles a job loss well, but the ones with enough cash on-hand and a well thought out emergency plan will be able to handle it better than ones that don’t have them. The strong economy of the past, fed by a number of factors including cheap credit, concealed the damaging decisions that many people made in their personal financial lives.

So, let’s say the economy begins to improve this year; you can be sure that the recovery process will take many more years to come. Let’s remember that there are 15 to 20 million Americans out of work and that number doesn’t seem to be getting any smaller as job openings haven’t increased either. The paradigm of how the consumer spends has definitely changed and isn’t likely to change back to the way it was before. Today the American consumer base is either trying to pay off their debt or, more likely, allowing their accounts to default because they can no longer afford to pay the bills without employment.

America’s small business has the biggest challenge ahead of them. It is small business that keeps most of America employed but in the current situation and under the current set of rules, expanding the workforce just isn’t very likely. Through all this, if your small business is still breathing (even if only shallow), start the new year by double checking your business plan and see if it’s still valid in today’s economic reality; some changes just might be necessary. This can be a great time for you to use your networking community to find the support and information you need to make the difference between success and failure; you might even consider a strategic partnership. People and business everywhere are trying to find better ways to stay afloat and your business just may be their answer. They need to know you’re there and advertising your service or product has never been more essential. If they don’t know you’re there then they won’t be able to find or use your business or service. That will certainly hurt your bottom line.

I am very optimistic about our country and the ability of its people to find solutions. Americans do their best in times of crisis and I see the nation finding the answers that will ultimately turn this situation around to the positive. It may take some time, but we can never give up or give in. What can you do? Get up every morning, become dedicated to your plan and never allow the situation to get the best of you. This will turn around eventually but it’s going to take some hard work and determination to create a solid economic base. Don’t be mislead, it’s going to take a lot of hard work but the sooner we start rebuilding our personal and professional economic foundations, the faster our lives will start to improve. Let’s get to work.

In a recent poll of more than 1,000 Americans conducted by CNN/Opinion Research Corporation, 84% of those surveyed believe that the U.S. economy is still very much in recession which is s slight improvement from September’s poll where 87% felt the recession was still alive and well. This kind of public sentiment, while heartfelt, seems to be just the opposite of what the nation’s economists are telling us; that the “Great Recession” has finally come to an end.

Economists are in almost universal agreement that, according to the numbers, the worst of the economic slowdown appears to be behind us. According to the latest reading on gross domestic product, the U.S. economy grew at a 2.8% annual rate in the three months ending in September, the broadest measure of the nation’s economic activity. And while job losses continue, the number of jobs lost in November fell to 11,000, the smallest amount of any month since the start of 2008, while the unemployment rate fell to 10% from 10.2%. Plus a recent survey of top economists from the National Association of Business Economists found 81% agreed that the recession was over.

So, why the discrepancies?

While there have been some economic improvements, economists believe that it will take a long time, perhaps even years to dig out of the economic upheaval that this recession caused. Because the improvements have been slight, the average American family just doesn’t feel it yet. One economist put it this way, “The hole is a very big hole this time and the recovery is very modest so it might take us a number of years to get out of the hole.” And this startling result also came to the surface recently. While economists are getting more optimistic, the consuming public appears to be getting even more pessimistic. The same poll found that only “15% believe the economy is starting to recover from the problems it faced in the past year or so, down from 17% who saw improvement in the previous poll in September.” And the public also believes that things will get worse before it gets better.

This is something that the retail industry didn’t want to hear during the biggest shopping period of the year. Holiday shopping so far has been less than stellar. A recent Christmas Retail Survey released during the first week of December by America’s Research Group (ARG) and UBS showed that sales were weaker this year than in 2008. Of those consumers not shopping, an overwhelming number, 95.1%, said they will wait until just before Christmas (some even said they’d wait until December 24) to get more items on sale.

And further evidence of a shaky American consumer base, the most recent Consumer Credit report released by the Federal Reserve showed that Americans borrowed less for a record ninth straight month in October, another sign that consumer spending will remain weak and make it more difficult for the economy to produce a sustained rebound. And unless the U.S. consumer develops some confidence in the nation’s economic foundation, the chances for recovery are probably negligible.

We are all hoping for a more profitable 2010, and the last thing I want to be is pessimistic (it just goes against my nature). But until our national housing and mortgage industry is repaired, until the banks start loaning money again, until jobs start picking up, until the confidence of the American consumer is bolstered by a feeling that our economy is, in fact, returning to normal, this country could continue to experience the same economic doldrums in the New Year. Let’s hope the effects of the technical economic improvements economists are seeing today will soon show themselves fundamentally to those of us who live on Main Street USA.

The financial experts always say you should have six months worth of salary set aside as a buffer but putting that kind of nest egg together is sometimes easier said than done. So look at the problem with a different perspective. Create a budget of all your “necessary” monthly expenditures; and by necessary I don’t mean that subscription to HBO or the two dinners a week you eat at your favorite nightspot. I mean really take your personal budget down to the bone and then figure your monthly expenses. My grandfather used to ask me, “Do you want it or do you need it?” That’s the kind of gauge you have to use in this kind of situation. I think you’ll be surprised at just how little you can actually live on each month when you compare it to what you’re spending today just by eliminating all the extras you spend every month.

If you have credit cards with a balance, you should call the bank and see if they will give you a better deal on the interest rate. This has become a very competitive business and if you ask them to lower your rate, they just might do so. One thing is certain – if you don’t ask them they will never lower your rate.

Make sure you have all your documents available and ready should you need them. This should be part of your normal routine but most of us don’t get things in order until someone actually asks us to present a copy of something. Then we madly start looking through what we thought was an organized system only to find the document we are looking for isn’t there. So, get your paperwork together; things like bank statements, past year(s) tax returns, passports, and insurance documents. You might even consider putting these important documents in a fireproof box that can be grabbed and taken with you in case of emergencies. And consider putting a stash of cash in the box too…just in case.

In anticipation of the worst, you might also consider creating a secondary source of income, whether it’s starting your own home-based business or working part time for someone else. If you have extra income coming in prior to an emergency situation, you’ll be better prepared when or if something does actually happen. Maybe you have a talent or a hobby that you can use to create an extra income source. What about a course you can take to learn a new skill? There are a number of things you can do to generate extra cash flow; start investigating them before you need to.

Finally, one of the greatest things you can do for yourself is to keep moving forward, with a smile on your face and your head held high. Get comfortable in developing your networking skills because in today’s world, this is a requirement. Don’t fall into the “out of sight, out of mind” syndrome but rather maintain a solid image and a well-defined approach when engaging people within your area of expertise. Whenever possible make connections with others who may be able to help you. Go out and keep shaking hands, make phone calls, send emails…never allow yourself to fall by the wayside. Just go where the people are and use all types of media to meet them. This can go a long way in helping you to maintain a solid footing during the rough times and just might assist you in locating that next big career move.

The bottom line – in order to make sure you move through this unpredictable economy successfully you must be well prepared. Arrange your life so that when (or if) something unexpected should happen, you’ll be ready for it while you smoothly “sail through” to your next big opportunity.

So, when’s the best time to start a business? My answer is – anytime. There are always bumps and dips in the economy but there are always products and services that will be needed by the general population. Consider the things you personally do well; the things you have a genuine passion about; then consider developing a business around those talents and interests. Money is one thing but if you don’t enjoy or believe in what you’re doing, the money will never come. If you are passionate about your chosen profession then you are more likely to succeed. We all enjoy doing the things we enjoy.

Believe it or not, recessions have traditionally been ideal times to start new business structures. As a matter of fact, some of the largest companies in the United States today did just that. Microsoft was started during the recession and the oil crisis of the mid 1970s. And Southwest Airlines began in 1971 as a regional carrier that offered passengers a new method of flying at a cut rate. Southwest decided not to assign seating or offer any type of food or entertainment on its flights. Its management also determined that it would be more profitable for them not to operate out of expensive major airport hubs where they would have compete directly with established air carriers. So the lesson here is to look for the business signs that are staring you in the face and then develop a business plan that will allow you to take full advantage of the current business situation.

You may know your personal skills very well but as a small business owner you will also have to know much more to keep your new company running efficiently. The problem of finding customers always comes up and it’s not an easy thing to overcome. You’ll also need to know about marketing, sales, business development, bookkeeping, and how this new plan will affect your personal financial life from banking to payroll to taxes. There’s not many of us that can do all of these tasks well so you may need to hire someone to do some of these things for you. For example, get an accountant to handle your banking, bookkeeping and tax issues. Get educated in some of the other issues at your local community college or buy a book at the local book store. Check the Internet – there might even be a class specific to one of these topics offered online via webinar or on CD.

The Small Business Administration (SBA) has a great website that will guide you through a variety of topics to help you receive a solid start. From developing a strategic business plan to handling legal concerns, the SBA can be a big help to you. They also offer a mentorship programs through the Service Corps of Retired Executive (SCORE), small business development centers and a network of training and counseling services to guide you over the rough spots.

The SBA also has a lot of information on franchising which has become a huge method of doing business on your own. Some franchise licenses take quite a bit of cash to initially get involved with and others not so much. Choose the one that fits your abilities and interests and see if a franchise fits your personal business acumen. There are also local SBA offices around the country that will assist you in a variety of ways. The Small Business Administration is a great place to gather some vital information and you can’t beat the cost….FREE.

As I said in the beginning of this article, there may not be a better time than right now to start your own business. I personally know a number of people who have done so already and I couldn’t be happier for them. There’s just something about being in total charge of your personal financial future while helping others with your product or service. Don’t get me wrong, running a business will take up most of your time in the beginning – it’s going to be hard work and you will have to put forth the effort. If you don’t think you’re going to like a 15 hour daily schedule or working on the weekend – running your own enterprise probably isn’t for you. But if the freedoms of personal independence while doing something you enjoy sounds appealing to you – press on! You’ll never look back! America was founded on small business and I’m convinced it’s the American entrepreneur who will ultimately bring the United States back to prosperity.