Kill the fear. Otherwise you will become the prey of this confidence eating monster

Is Fear of Recession is eating out your confidence level??

Often, especially in times of fear, we’re better off acting based on what we feel tremors in the future.

But what if we can’t see what we are going to face or we can say Unpredictable / Bleak Future?

These last few years took many of us off guard. Sure, we thought, there were some sectors that were overvalued. But we didn’t expect the recession to hit every sector so hard and for so long. How could we have prepared for that?

Perhaps we couldn’t. Sometimes, the future sneaks up on us.

Losing money or a job or a business is a serious blow, but it isn’t necessarily an unrecoverable tragedy. There are worse things, like giving up after the loss. Or not learning from it. That would be like rebuilding a village after a Tsunami that couldn’t withstand the next Tsunami. That’s a tragedy.

But there are ways to avoid it.

There are certain questions which I wish every Entrepreneur must ask to himself:

What did I truly want? What would make me happy? What would sustain me and the business through the constant recession fear, which is directly-indirectly eating up my career and somewhat my confidence? I came up with five points.

1. Keep pushing yourself without any fear of recession: Choose work you’d be happy doing the rest of your life. That almost guarantees you’ll be great at it. In demand, even during hard times. Hopefully it will be profitable. If not, at least you will have enjoyed it. If the money disappears, the fulfillment will still be there. At the end of the day you must justify if not company yourself that you had given your best shot it will makes you feel confident.

2. Focus on what you can control: You can’t do a thing about the rising and falling of the stock market. You can, however, control how much you spend or save. Instead of worrying about the things you can’t change, give yourself a feeling of empowerment by taking charge of things that are within your control.

3. Find something positive in your life to appreciate: There is always something you can be happy about. In this time of rising unemployment, having a job in itself is positive. If you’re able to make your house payments each month, you have something else to be happy about.

4. Maintain the good financial health: No matter how much or little that is. Do everything possible not to go into debt.Ifyou’re in debt, do everything possible to get out. In Financial Terminologies especially for the companies there is the term used Equity Cushion which suggests to maintain good equity cushion so that if in worst case scenario if u face any downturn then u must have something in reserve to skillfully handle that situation; the so called equity cushion not only applicable to the company but to the every individual who directly-indirectly involved in the market.

5. Build Strong Interpersonal Relationship with the who’s who of the Industry: Your work; your potential –don’t limit them to your Company’s boundary rather bring it out get yourself linked In the Professional market. Recession doesn’t always means that Companies dried up of their equity capital and it’s all because its recession season so nobody has projects, therefore no more recruitments. Recession can put a tap on recruitment process but if need requires recruitment happens but then it’s all insider story; Your movement from One Company to other is decided by your relationship or networking because during these tough times job portals has no role to play.

Your Character is something you can control. If your business fails, you may lose the friends who hung around for a piece of the action, but you won’t lose the ones who hung around for a piece of you. As long as you are surrounded by people who trust you and whom you trust, rebuilding from a loss is likely. Also, research points to strong relationships — not money, not power, not title or position — as the determining driver of happiness. And after losing money or a business, your state of mind is critical. Remember good networking in the professional sector is the best weapon to defeat the recession. I still think sites like Linked In and other professional networking sites are the best option available today thru which u will come to know what is happening in the world (People Networking irrespective of geographical boundaries).

These rules seem simple and obvious, but they are frequently broken. We often justify exceptions to them. We deviate, slightly at first, and then, over time, more flagrantly. We make a small trade-off in a relationship in order to make a little more money, never fully appreciating the impact on our reputation. Or we buy something we want even when we know we can’t really afford it. Or we trade our passion for a paycheck, imagining it’s just for the moment.

And we only notice our real loss when the bubble bursts. When the business isn’t there and no one is willing to help us rebuild.

Up’s and down’s are part and parcel of life but remember if you have the courage you can achieve anything in your life.

There is the famous saying:

Waves Rise and fall not because they loose momentum but because they carries the strength and promise to rise again after every fall.

Regards
Tarun Arora
FTIL: Financial Technologies India Ltd. Mumbai
Reach me at: tarunaroracpl@gmail.com
Reach me on my blog : http://allaboutbusienesswithtarun.blogspot.com/
Catch me at : 919867587525,919322648250