recession

I Refuse to Participate in the Recessionstring(40) "I Refuse to Participate in the Recession"

August 3, 2020
, , Adversity, Entrepreneur, Motivation, work ethic 13

Since starting BNI in 1985, I have navigated my company through three recessions. Now,  we have entered our fourth recession due to COVID-19. Along the way, I have learned that your mindset has a lot to do with how one navigates a tough recession economy successfully.

The 1990 Recession

The importance of having a positive mindset became clear to me during the recession of the early ’90s. I was attending a large networking event. As I walked around the room, I discovered that almost everyone was completely fixated on how horrible things were. It was incredibly depressing. I found myself meandering until I saw someone standing in a corner observing all the distraught business people in attendance. I walked up to him, introduced myself, and asked him what he did.  He told me he was in real estate. I prepared myself for the onslaught of horror stories, but instead, he said that things were going well for him.

Naturally, I was surprised and replied, “You said you were in real estate, right?”

“Yes,” he said.

I asked, “The real estate market has dropped significantly here, hasn’t it?”

“Yes,” he said with a slight grin.

“And you’re having a good year?”

“I’m having my best year ever!”

“Your best year!” I said in amazement. After thinking for a moment, I asked him, “Is this your first year in real estate?”

“No,” he replied with a laugh. “I’ve been in real estate for almost 10 years.”

I asked him how he could be doing so well, given the condition of the economy. He reached into his pocket and pulled out a big button that reads:

I Absolutely Refuse to Participate in the Recession!

“That’s it? You have a button that says, ‘I absolutely refuse to participate in the recession,’ so your business is booming?” I exclaimed.

“Well, it’s not just the button; it’s the attitude that goes along with it,” he told me. “You see,” he went on to explain, “during difficult times, there are almost always opportunities that exist, and if you want to succeed, you have to focus on those opportunities.”

“OK,” I said. “School me a little on this. What kind of opportunities can there be right now when the real estate market has taken a nosedive?”

“Two big ones,” he replied. “First, there are real estate investors who buy properties to rent and lease. I’m going to them and encouraging, ‘Don’t be one of those people who come to me a few years from now and say that you should have bought that property when I showed it to you. Let me show you a duplex that you can get a steal on today’.” He paused to take a sip of his water, and then continued, “Besides, there are still first-time home buyers in a down economy. I’m going to them right now and explaining that they couldn’t afford a house a year ago, but they can today. Now is the time to buy while the market is low.”

He was selling more real estate than ever while others in the room were obsessed with the recession economy and the drop in prices. And yet, he was making a killing. He wrapped up by telling me the button represented the attitude and the action that one must pursue when times are tough. He said he was at ease with the recession because many of the people in the room would be transitioning to another business while he became focused and they simply froze in fear.

The Great Recession (2008)

His is not an isolated story. I have seen this happen during all three of the past recessions I have experienced. Years later, I met someone who had left his employment, cashed out his retirement money, and decided to become an entrepreneur. He started his very own moving and storage business. Beginning with one truck, a storage facility, and an office, he opened his doors and was excited to start his journey. This was in early 2008. Just as he joined the ranks of entrepreneurship, the Great Recession came crashing down on him.

He was devastated.  All his hopes, dreams, and cash were about to evaporate. However, he had a similar attitude to my real estate friend. With a positive mindset, he increased his efforts and immersed himself in networking groups to build his word of mouth. At the same time, he integrated self-storage programs into his business to help people who consolidated homes during this time. This was one of the few growth areas during the recession.

The bottom line was that he also refused to participate in the recession.  He was focused on solutions while other people were frozen in fear.  He came out of that recession larger and stronger than he was when he and his company went into it.  You can find him today with many trucks and multiple locations around the country.

The COVID-19 Recession (2020)

Entrepreneurs have two problems this year. First, COVID-19, and now, a recession. What I know to be true is that if you focus on the problem, you will be an expert on the problem. Focus on the solutions that will get you through both struggles.

A powerful mindset begins with the belief that you can find solutions to the current situation. Belief is that little voice inside you whispering to you the things that “can be” while everyone around you is screaming about the things that “can’t be.” The right mindset, along with a plan of action, will lead you successfully through these turbulent times. I for one am going out today to make more buttons that say: “I Refuse to Participate in the Recession.” I invite you to do the same.

Networking Online

Networking Onlinestring(17) "Networking Online"

March 19, 2020
, Adversity, Building Relationships, How Can I Help You?, Networking, Online Networking, technology, Video Blog 2

Because of the current health situation, a lot of us are working from home. Even if you cannot go to your usual places to network face-to-face with others at mixers, meetings, or social events, you can still take action and build up your networking online.

Earlier this week, I shared some tips for working from home. Please watch this video to learn a few things you can do right now to maintain a powerful personal network online:

Networking Online

Take a few minutes daily to reach out to a few people each day in your network and schedule an appointment to talk to them later in the week. There are many ways to connect with others, even if not face to face. The easiest way is to pick up the phone and actually have a conversation with them. If both you and that person are comfortable with setting up a video call, I recommend connecting with them at a scheduled time on Zoom, Teams, or some other platform. Not only chat about each other’s businesses but ask how they are doing personally. Find out if there are ways you can help them. Finally, it is ok to also ask them for help. We all could use a friend these days.

Now is the time to build up your online networking with your fellow BNI® members using our newest platform: BNI Online™. This will allow you to stay in touch and attend your BNI Networking meetings virtually during these days of social isolation.

If you’re not in BNI®, we are inviting local business professionals to join us online. If you know someone looking to grow their business online during these challenging times, please invite them as our guests to our online meeting. This is a chance for them to experience BNI and networking from the comfort of their home or office.

Find a local online meeting in your area:
https://www.bni.com/find-a-chapter

Please watch this video to learn some things you can do right now to maintain a powerful personal network. Now, more than ever, you need your network. Work together with them by networking online.

Emotionally Charged Connection

My ECC: Emotionally Charged Connectionstring(38) "My ECC: Emotionally Charged Connection"

October 17, 2019
, , , , Adversity, Connections, Group Dance Card, personal story, work ethic 1

In my book, “Avoiding the Networking Disconnect”, I talk about my ECC: Emotionally Charged Connection. We all have an ECC. It was something that happened to you generally as a child that lays the groundwork for who you are as a person. It can be positive or it can be negative.

Many people are not conscious of their Emotionally Charged Connection, yet it’s the reason we get up in the morning and do the things we do every day.  It’s driven by the heart, not the checkbook or the head–there’s a big difference.  Once you become conscious of this connection, you are able to understand and more effectively apply it.

Gladstone High School

My ECC resulted in my desire to help others to succeed. I cannot make you successful. I always lost when I ran for student council. As a freshman at Gladstone High School, Mr. Romero, my freshman high school history teacher, picked me for the student council. “Oh no, not Ivan. Anybody but Ivan”.   I do not know what he saw in me but I am going to do whatever I need to do to make him proud. He saw something and helped me to succeed. I’m doing the same thing now. I had a handful of teachers that saw something in me and supported me. We all have something like this that helped guide a chapter in our life that will influence our future.

Your “why”–the Emotionally Charged Connection you have with your work–is the most important thing you can figure out about your business. If you don’t know why you do what you do, you’ll never fulfill your professional dreams.

‘No-Win’ Scenario

How I Approach The ‘No-Win’ Scenariostring(40) "How I Approach The ‘No-Win’ Scenario"

August 6, 2018
, Adversity, Education, Fear, personal story, Problem solving, Risk Takiing 2

When I was an undergraduate in college, I needed to take one more “lab class” (a course that gives hands-on experience related to the topic). I’d taken lab classes in science and the only lab courses left according to my counselor was a lab class in mathematics. Now, I did fine with basic mathematics but the higher-level courses in Algebra and Geometry were just not my passion. OK, full disclosure, I hated those courses. So, when my counselor said that was the only choice left – I went on a quest, a quest to go through every single page of the course catalog for every single department throughout the University (except the Math department), to find any other class with a lab that I hadn’t already taken. I felt like it was a ‘No-Win’ scenario.

After a painstaking search through the huge catalog, I found one course that fit the bill. It was a course in the Hotel and Restaurant Management School at the University. The course was in Enology (the study of wines). The lab part was – wine tasting! Now, you might think that I was excited at first but the truth is – I hated wine. I really didn’t like it. The only thing is, I hated math more than I hated wine so – Enology it was!

I took this revelation to my department counselor and he said – “No! you can’t take that as your lab!” I said “Why not? It is a lab and it meets all the university requirements for me to complete my degree?” He said, “because it’s unheard of to use that as a lab in this department.” I then said, “But is it prohibited? Where in the department requirements does it say that it can’t be used?” He cocked his head and looked at me over the top of his glasses and said, “alright Misner, give me the paper, I’ll sign it and get out of here.” I smiled and said, “Thank you very much professor,” and walked out with the paperwork to complete my Enology wine lab.

At that moment, I had no idea that the course I was taking would become a life-long passion. Remember, I didn’t really like wine back then. The course was much more difficult than students thought it would be. We had an almost 40% drop out rate for the class because it wasn’t just about “tasting” wines. It was about the wine industry and wine regulations so the tests were pretty tough. The tasting was only a part of the class. Today, it is a passion for me. I built out a cellar at my home in Austin (pictured here) that will hold 1,600 bottles (it’s not full – yet but I’m working on it) and I just started working on a Sommelier Certification just for fun. This path all began because I didn’t believe in the “No-Win scenario” as the only possibility relating to a challenge.

The ‘No-Win’ Scenario

I share this story with you because I truly believe that there are ‘almost’ always options to a no-win situation if you work hard to find alternative solutions (maybe even push the envelope a bit). For the Star Trek nerds out there – I’d like to think I’d pass the Kobayashi Maru simulation (the no-win scenario mentioned several times Star Trek).

What no-win situation have you been confronted with and how did you find a solution? I’d love for you to share it here.

Fear of Rejection

The Fear of Rejectionstring(21) "The Fear of Rejection"

July 30, 2018
, Adversity, Fear, Networking, personal story, Risk Takiing, Self Development, Video Blog 2

The fear of rejection is a powerful driver in most people’s lives. It dictates what we take risks on, it makes us hold back, and it even hinders us from reaching our potential.

The fear of rejection is an emotion that many of us carry in our personal lives, but it can very easily seep into our professional one as well. We all come to that nexus point in our lives: we can do something, or we can do nothing. The fear of rejection almost held me back from promoting my book, The World’s Best Known Marketing Secret, because I was worried some bookstores wouldn’t want to carry my book. But you know what I realized?

Some will, some won’t–so what?

Watch the video below for more on conquering the fear of rejection.

Only taking the risk could result in success. 

Don’t let the fear of rejection stop you from doing what you are excited about. If you are excited about your business, don’t let rejection stop you. You have to just know that when it comes to asking somebody to do something; some will, some won’t, so what?  It’s not the end of the world.  For me, I just had to put myself in the frame of mind that what I was facing was simply not that big a thing. I now do this same thing whenever I’m faced with a situation which opens up the possibility for rejection.  I just tell myself that if someone doesn’t want to do what I’m asking, that’s fine. It’s not that big a deal.

solutions

Focus on solutions, not problems.string(33) "Focus on solutions, not problems."

April 10, 2017
, Adversity, Ivan Misner, Problem solving, solutions, Strategy 3

What was the last problem you faced?

  • An employee issue
  • A difficult client
  • Financial hurdles
  • Competition from another business
  • Time management concerns
All too often, when facing a problem, the first thing we tend to do is focus on the negative situation. We continue to repeat our patterns, doing the same things that do not work, until we dwell in a feeling of negativity. Many people let their minds wander toward the negative, which then prompts them to focus on more problems instead of searching for ways to resolve the situation and grow from it. You must begin to start focusing on ways to actually resolve the situation by focusing on solutions. Do not just react, take the time to fully analyze the problem then make a list of possible solutions.
  • Identify the problem(s)
  • Identify what you did before in a similar problem
    Brainstorm possible solutions.
  • Change what doesn’t work
  • Find and use resources
  • Decide which solution is best
  • Put that solution into play
  • Build on each successive step
  • Try to do more of what works
  • Use an alternative solution if not achieving the required results
Regardless of how bad your problem may be, the solution is there if you think long and hard enough. Not every solution will work for this problem. However, when we start to think of more ways to overcome our problems, we can grow from the situation at hand by being more prepared for the next problem we will face down the road. We can even avoid future problems because if we focus on problems, we will get more problems. If we focus on solutions, we will get more solutions. By being aware and reminding yourself of your list of solutions you just created, you can focus on solutions, not problems.

Are The People in Your Life an Engine or an Anchor?string(51) "Are The People in Your Life an Engine or an Anchor?"

September 19, 2016
, , , Adversity, Goals, Relationships 1

Over the years I’ve recognized that there are some people who are positive and supportive individuals that I really want to be around.  They areid-100109424 solutions focused relating to most problems and are almost always willing to talk through challenges with a positive end in mind.  These people are engines.  They help me be my best self and they motivate me to drive forward.

I’ve also noticed, as I’m sure you have, that there are some people who complain as though it were an Olympic event (for the record – it’s not!).  They tend to be negative, argumentative, and obsessed with problems.  I’ve learned not to spend much time with these people because they focus on all the things that are wrong relating to most challenges.   If all someone does is focus on problems – they become an expert on problems and not on the solutions.   These people are anchors, they hold me back and weigh me down.

id-100381604Who do you surround yourself with: engines or anchors? This is an important question for everyone.  It’s particularly important if you are trying to build a powerful personal network of people around you.  Is your network full of people who are engines helping you go to the next level in your life or your career?  Or, are they anchors weighing you down with the plethora of issues, problems, and complaints? Do they hold you back, or do they drive you forward?

The funny thing here is that no-one thinks they’re an anchor.  No one!  Of course they’ll tell you that they are an engine – they just do not like the direction you are going and that’s why they come across the way they do.  For the record – they’re an anchor – with a motor attached. My advice is to call for “all hands on deck,” cut loose the anchors in your life, partner up with your fellow engines and go full-speed ahead.

Never, Never, Never Give Upstring(27) "Never, Never, Never Give Up"

September 12, 2016
Adversity, Entrepreneur, Growth 3

As part of a commencement speech, Winston Churchill is believed to have once said, “Never, never, never give up!”

I love this quote-however, the left side of my brain says that when it comes to business, that’s just not logical. You must know when the time is to give up. Fortunately, my right brain often wins the battle on this issue. You see, I may not be smartest or most successful person in the room, but I am almost always the most determined.

I believe that if you have great information and feel confident in your vision and your goals, then you need to be a “dog with a bone” in your focus and never give up. I have applied that approach throughout most of my life.

In 1992, I completed the manuscript for The World’s Best Known Marketing Secret; over an 18-month period, I sent my manuscript to 45 publishers all over North America. It’s difficult enough to write a book-but to then send it out and hope someone else sees its potential the way you do, is even more difficult. I sent it out to 45 publishers and received 44 rejections–until number 45 came along. I was that dog with a bone; I was not going to give up until someone gave me a chance. In 1994, the book was published and since then, its been through four editions, translated in more than 10 languages and sold more than 200,000 copies.  44-rejections

A few months ago, I was going through some old files and I found the records I kept of everyone I submitted to, and it made me remember the determination I felt. Had I given up on number 44, I may have never become a best-selling author in multiple markets around the world. That, and many other experiences I’ve had over my lifetime, have led me to believe that if you are confident in what you are doing-never give up. Never, never, never give up.

 

 

The printed copy of World’s Best Known Marketing Secret can be found here.

The audio version (yes – we have it as an audio book!) can be found here.

Pillars of Business: Passion and Commitmentstring(43) "Pillars of Business: Passion and Commitment"

September 8, 2016
, , Adversity, Entrepreneur, Self Development

Let’s say you own your own business. You’re toiling away, working harder than you ever have because it’s something you LOVE–this business is your passion. But you feel yourself getting distracted; you sense the urge to cut and run. What do you do? Do you give in and find something else that isn’t quite as time consuming or difficult-or-do you stick it out and make this potentially the best endeavor you’ve ever sought out?

Three words comes to mind: don’t give up.

You can have as much passion as any entrepreneur ever has; but if you don’t couple your passion with commitment, you’ll never see the results you hoped for. You’ve heard me say, “Be a dog with a bone.” It applies well here-it means don’t let go. Hold on to that bone as tightly as you can.

But HOW do you commit? It’s true-it’s easier said, than done. I’ll tell you how-but it’s up to you to apply it to your own life, and your own business.

Decisions Aren’t Always Easystring(34) "Decisions Aren’t Always Easy"

August 8, 2016
Adversity, Education, Growth, Ivan Misner, Uncategorized 6

I’ve been a member of the Transformational Leadership Council for the last 12 years.  It is a group of innovative and out-of-the-box leaders that meet twice a year from all around the world, and last week we met in Napa Valley, California.  I use this time to expand my mind, brainstorm new content for my blog and articles and most of, all learn from the incredible teachers around me.

One of the topics that really got my attention was the idea of “decision fatigue.”   

In decision making and social psychology, decision fatigue refers to the exhaustion that sets in when someone is presented with the need to make one decision after another, back to back, over and over again.  This can play out in several ways–for example, it can be as simple as going to a grocery store and being confronted with one bad choice for food after another. By the time you are checking out, your willpower becomes weak and you buy that candy on the way out of the check stand (that’s why they have it there!)

Photo courtesy of stockimages at FreeDigitalPhotos.net

Photo courtesy of stockimages at FreeDigitalPhotos.net

 It can also be related to a very long day of making many decisions. If you’re making tough calls all day long, the quality of the decisions will drastically diminish by days end.  Or it might play out over a very long period of time (weeks, months, or years) where you are confronted with one challenging decision after another.  Over an extended period of time, you feel exhausted and drained from having to make so many decisions about so many different issues that it is easy to experience “burnout” as a result.

In running a global organization with an incredible amount of competing demands, this last consideration really rang true for me.  I often felt that the serious nature of the ongoing decisions that needed to be made, could create a massive amount of long-term stress for me. One way I combated this stress was to schedule dedicated “mental health days” to reset my mindset and get in a better place.  

I spoke about this several years ago in my blog here. 

Decision fatigue is a real condition.  What, if anything, do you do to combat this feeling in your life?

What is a Lifestyle Business?string(29) "What is a Lifestyle Business?"

August 1, 2016
Adversity, Business, Public Speaking, Purpose, Uncategorized 1

LBSSummit_IvanMisner_FBWhat defines happiness and success? Everyone has a different answer, but I can tell you one thing that most would agree on: money does not solely define success and certainly cannot buy happiness.

I recently had the opportunity to speak at the LifeStyle Business Summit, hosted by Michelle Villalobos. In telling her own story, Michelle said she was climbing the ladder like we all do, but when she examined her life, she in fact wasn’t happy–and so she left to find her own path to fulfillment. She started her own business, making upwards of $300,000 a year–which society tells us should make a us happy–but that as time went on, she had actually become what she disliked most in people and became the boss she herself had always feared. She never gave herself any breaks or time off, and sacrificed her own happiness and health for a corporate lifestyle.

Two years went by and then Michelle realized she had to make a change in order to find true happiness. She wanted to run a business that revolved around her life and contributed something positive to the world–and she did, by changing her perspective, her business model and her definition of success. Michelle calls her new business model a “lifestyle business,” a term which I found fascinating as it resonated with some many of the concepts I talk and write a.

In a lifestyle business model, you have to determine which things are satisfiers and which are dissatisfiers. Keep in mind that while money can be a quick satisfier, it often doesn’t lead to long-term happiness. Long-term satisfiers can be things like opportunity, recognition and working in your flame (finding you passion.) I’m a real believer in following your passion and finding things that are new and innovative within that passion to keep the flame burning. Dissatisfiers include things like working in your wax (not doing what makes you happy), climbing the ladder and yes–even money.

A great example of this theory is a school teacher. A man or woman doesn’t become a teacher to make money, but to make a significant change in the world around them. I’ve known Wall Street executives who made millions, but admitted that their life was hollow.

I strongly encourage you to join me at the virtual Lifestyle Business Summit on August 11. Register here to not only hear me, but several other top business and lifestyle experts talk about finding what truly makes you happy in your professional life.

 

 

 

Conquering the Fear of Rejectionstring(32) "Conquering the Fear of Rejection"

July 28, 2016
Adversity, Business, Entrepreneur, personal story, Video Blog 5

Fear is a powerful driver in most people’s lives. It dictates what we take risks on, it makes us hold back, and it even hinders us from reaching our potential.

The fear of rejection is an emotion that many of us carry in our personal lives, but it can very easily seep into our professional one as well. We all come to that nexus point in our lives: we can do something, or we can do nothing. The fear of rejection almost held me back from promoting my book, The World’s Best Known Marketing Secret, because I was worried some book stores wouldn’t want to carry my book. But you know what I realized?

Some will, some won’t–so what?

Watch the video below for more on conquering the fear of rejection.

1 2