One of the things that you need in these tough times is to take a reflection on your life and how things can be improved, changing to current circumstances in one of the most important things about modern life, we have so many changes these days that nothing is set in stone so a person who is the most adaptable will win in the long term.
One of the ways you can do this is by not being locked down to long term contracts, you should always have a get out clause, either that or pay things off as quickly as possible, sacrifice the short term gain to get long term ownership, owning things is the most important things when it comes to debt and your abilty to raise money in a crisis like we have today.
I think people will eventually have to get used to widespread changes in the world and be more adaptable, we have reached a point when we are so used to have an abundance of things that we don’t stop to question it but we just ask for more stuff and it to be delivered faster.
Sometimes we are simply not aware and can’t see the forrest for the trees and modern life is always just too fast for us to keep up with, now that time has slowed down it’s a good idea to reflect on just how fast we are all running to keep up.
He who has the gold makes the rules.
It’s pretty much the most important rule in life but maybe one of the best things to think about during these times is just working on the things that you CAN control, there are so many metrics and variables in life that you basically can’t control a lot of them but they all have some effect on your bottom line, it’s very difficult for a person to accept this level of risk but sadly reality is just like this.
In order to build something you have to be willing to take risks and that comes with alot of giving up control, there are many things that are simply beyond your scope but if you take all your frustration and put it into something productive then at least you can have power and control over the situation, doing things is what pushes the world forward, you must do things instead of just living in “wait and see” reactive mode, most of the time this is a huge waste of time and basically you can’t control the outcome.
There is never a better place to see this than in a game of Football, you can’t control the outcome of the game since there are so many different veriables that can have an effect on this but the real control is in your own teams training sessions, it’s really these sessions that make up the winning or losing in the long term, understanding that training is the only thing you can control makes you work that much harder for success.
Well it finally happened and the whole of the UK is on lockdown, still no updates on what the self employed are going to do but the one thing I can be certain of is that this will have major lasting impacts on many world economies for years to come.
This is now a completely new world and basically going to be a race to the bottom, who can survive and how long can we survive in this horrible situation, it seems now that the whole world is set to struggle and we are essentially just on a “wait and see” basis, this has basically never happened in most peoples life times.
People in general are very scared right now and we are all waiting on daily updates but basically we have to get ahead of this thing and impose legal sanctions to make sure people stay at home, now it seems that with so many business closed down and lack of things to actually do people will now take this advice and just stay home indoors instead of going out and potentially spreading the disease.
With abit of luck and following of the procedure we will see this virus “wash out” and then we can get back on track with building business, raising families and generally being in a much better mood, it seems that at the moment people are just trying to sort out issues and not getting many answers from anywhere.
In times of need you should remember how far we have come in such a short space of time, we survived and thrived after world war 2 and this virus will eventually die out and we will make a strong come back, time and patience is what will matter most in the end.
One of the things we must remember is to be patient and rebuild with what we have, sometimes this means learning to live with less than what we had before, I think its going to take a year or even two years to rebuild back to previous levels, we can’t just snap our fingers and have most of our issues solved, we simply can’t recover from this long and gruelling virus by trying to rush, after all this is our health and lives we are talking about.
In trying times it’s a good idea to reach out and see if you can make some new friends or just network, working from home is a good idea if you can do it but also making new friends and keeping on chatting with people enables you to be less bored while working from home or self isolating if you are not used to these kinds of activities.
One of the things we must remember is that this will likely be a small blip in our life time and we will essentially forget all about it at a certain point but its going to take time for our lives to return back to normal again, this has been a historical upset that has never taken place before and next time we will be better prepared for it.
And the world stopped revolving.
It’s been a busy few months with the corona virus shutting the world down, it seems like many people are really taking this to heart and learning all about the virus and what they can do to help prevent the spread.
I think one of the biggest issues facing us ahead of the curve is the fact that the economy will be in serious trouble, if the country shuts down and schools close then there will be a very large issue and people will need to take time off work, we really can’t afford to fall even further behind considering that we really haven’t recovered since the 2008 crash, most families are living hand to mouth and never really get ahead in the financial game, it seems like they enjoy spending the future and just hoping for the best outcome.
I think we need to go back to basics and all these economic problems are a deeper seed that seems to be a problem with human behaviour which includes over indulgence of just about anything when times are good and forgeting to save some for when times are bad, poker teaches us the value of money which is to build a bankroll and always leave yourself an out.
You always want to be in control of your financial situation and plan ahead for black swans events that could happen and mess you up, I think around 20% downturn is a reasonable rate at which these things could take out of your nest egg.
It’s often the case that the older songs are the best ones available even today, you just can’t replace a good tune from the late 90s that reminds you of days gone by, you feel happy and content and in that brief window of time you can remember back to simpler times when life seemed effortless.
Back in the day when the economy was golden and everyone was very optimistic about what was just around the corner in terms of the millenium and possibly fly cars, these days the world is much more interconnected than ever and it seems like there seems to be more doom and gloom as the years roll on.
Going back to the olden days isn’t so bad every now and then even though we have made such huge strides in terms of technology we have also seen society becoming more and more disconnected and trying to split apart and divide over minor things, it seems we can’t have a debate anymore without reverting back to name calling and isolating.
With this new virus we are starting to see how people behave under times of stress and crisis, we haven’t seen anything like this before and hopefully never will again but this has been a very stressful time in the world, especially the last few years which seems to be absolute turmoil for the world in general.
They say that change can be a good thing but sometimes it comes at a huge cost and its only after everything has settled that we really wish we could go back to how it used to be, either way we have to make money while the sun in shining and stick in the game regardless of the results, sometimes things are just break even or poor even when you make all the right moves, you just have to be patient and wait for the tide to turn.
One of the most underestimated things in business is the power of advertising but advertising has many different routes, methods, platforms and other metrics that you have to be able to read and understand if you want to return a profit or achieve a successful campaign.
Perhaps the most important thing to understand in advertising is setting an end goal, you have to be able to clearly state what you hope your advertising will achieve and what metrics you are going to use in order to show your progress, for example if your goal is to make a profitable campaign using Google Adwords then you need to understand things like CTR but also need to understand setting up tracking and things like ROI, cost per click and revenue, these are just metrics Google provide but you also need to match these up with your own metrics to ensure you are making sales on the right products.
Another factor to consider is getting the right platform, understanding what platforms your customers use and how to reach them is critical, if you are aiming for a younger demograph then online marketing may work the best, however the older generation may prefer snail mail letters or face to face contact, you must first learn who you want to sell too and then understand which platform you can use to reach them.
Crafting a good message is important but whats even more important is learning the system and the rules for each platform, especially when it comes to online marketing which can result in a banned account if you don’t follow the rules that are normally displayed, for offline advertising you may need to look up local laws that protect consumers and make sure you follow them to avoid legal issues.
Advertising is all about having the perfect blend of timing, message, platform and connecting with the right audience, it’s very difficult to achieve this blend but most important advertising is a solid investment because you need it to create awareness of your product or service, without it people don’t know you even exist.
Most thing that worked in a certain time frame can never be resurrected and brought back for any length of time, it just doesn’t work because the audience is older, the actors are older and times have moved on, we’ve seen it so many times with movies, music and TV shows that when they try to bring them back they get a really good rating for the first episode but then ultimately it dies off.
I think one of the biggest reasons is that people are just left with an empty feeling, they pine after long lost times but truth be told during those times they didn’t appreciate what they had as much as they thought.
With the recent news that Friends is going to do a special I guess that is going to trigger alot of feelings about the old tv show but truth be told friends has long since run its course, people hardly laugh at it any more, party because they have seen almost every episode more than once or just based on the fact that times and comedy has evolved now and things that used to be funny are just not as funny in modern times.
Another thing that has changed is the audiences, they demand better quality shows that doesn’t use the same plot lines over and over, it’s just very difficult to keep people entertained and coming back for more, with movies its even worse since everything you do will be compared to a previous sequel or the first movie.
One of the concepts you have to learn is knowing when you have hit your peak and when to stop, you should always go out on top because sometimes you never know when you’ve hit your creative peak, it can be hard to stomach that your simply not on top all of the time and everything in life is a cycle of improvement and decline, ride the wave and accept when your time is up, get out while your still on top, not when its too late.
It’s a strange strategy but certainly one that seems to be the most logical, doing more of what is currently working is never a bad idea, once you find a winning model you should stick to it but also seek to better understand why its working so that you can get to the core of the problem.
Copying a strategy is one thing but understanding why its working and being able to replicate it later is a much better model, most of the time this is why competitors simply don’t understand how you can make money with something and when they run the same idea they lose money – a lack of understanding of the core principles is the reason why NOT THE STRATEGY ITSELF.
Once you have a great idea the first thing you want to do is test it on a small scale, use the least amount of resources you can to gather up some test data, show that your idea can be profitable or at least popular and then keep churning the wheels, keep investing time, effort and energy into the idea and keep that train going until it runs out of steam and it’s time for a change.
Knowing when to pull the plug is pretty much key in most strategies, you have to keep innovating ideas and coming up with new things to test otherwise you’ll be left behind or even worse just keep drawing back to stale ideas that once worked but are now oversaturated, keeping things fresh and up to date is often overlooked in the business world but tidying things up and making sure you keep up with the times is critical.
Groundhog day can feel like you really are on some form of treadmill, living the same day over and over again, making the same food choices, going to the same places and even doing the same tasks over and over again day in and day out for years.
Most of life is automated because it requires less stress and effort and when we automatically make choices we no longer need to think and thinking takes up alot of time and effort for our brains, we need to free up mental RAM by taking out the options and choices in life.
Sadly this kind of life can become very boring and mundane, doing the same things over and over like a robot leads to making life alot less of a challenge but can also make us more robotic and have less excitement in our lives, sometimes we need to throw caution to the wind and really just run with things and try something different, normally its easier to start with the small stuff like making food choices, since we eat the same things over and over again maybe its an idea to switch things up and go down some of the other isles in the supermarket and come up with some meal ideas.
Whenever you find yourself stuck in a loop its time to change things up and really push the boat out, do something you wouldn’t normally do and try something new and exciting, sometimes you never know where it will lead or what you might find that you like.