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	<title>Victor Cheng &#187; recession survival</title>
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		<title>Recession Survival Lessons from Fortune Magazine</title>
		<link>http://www.victorcheng.com/recession-survival-lessons</link>
		<comments>http://www.victorcheng.com/recession-survival-lessons#comments</comments>
		<pubDate>Fri, 24 Apr 2009 02:50:36 +0000</pubDate>
		<dc:creator>Victor Cheng</dc:creator>
				<category><![CDATA[Victor Cheng Blog]]></category>
		<category><![CDATA[recession proof]]></category>
		<category><![CDATA[recession survival]]></category>
		<category><![CDATA[small business]]></category>

		<guid isPermaLink="false">http://www.victorcheng.com/?p=136</guid>
		<description><![CDATA[I got back late last night from New Orleans where I gave a keynote speech for Fortune Magazine&#8217;s Small Business Sales &#38; Marketing Summit. I flew in on Sunday night to hear the other speakers and to get a better feel for the audience. And I ended up spending 10 hours revise my talk and [...]]]></description>
			<content:encoded><![CDATA[<p></p><div>
<p>I got back late last night from New Orleans where I gave a keynote speech for Fortune Magazine&#8217;s Small Business Sales &amp; Marketing Summit.</p></div>
<div>
<p>I flew in on Sunday night to hear the other speakers and to get a better feel for the audience. And I ended up spending 10 hours revise my talk and rehearsing it to better fit the audience, time slot, and format for the event.</p></div>
<div>
<p>So sadly, I did not end up making it to Cafe Dumond (will have to wait for next time).</p></div>
<div>
<p>But, I did come up with a story that I share with the 150 CEOs in the room about how to survive this recession. It was a last minute addition to my talk and I think it made the point I wanted to get across. So I thought I&#8217;d share the story with you.</p></div>
<div>
<p>When an economic storm rolls in, most people run for cover, hide, and try to ride the storm out.  This is a natural human instinct and if you know for sure the storm will be short, it&#8217;s a reasonable thing to do.</p></div>
<div>
<p>But if you need the storm has the potential to be a long one, you don&#8217;t want to hide from the change in conditions&#8230; you want to take advantage of it.</p></div>
<div>
<p>So in my best (okay mediocre) attempt at being a drill sergeant, I started yelling at the group of CEO&#8217;s to stop being a bunch of wussy pansies. (And amazingly I did not get thrown out of the room)</p></div>
<div>
<p>When it starts to rain, you don&#8217;t run and hide.</p></div>
<div>
<p>You get your rear-end out there and start selling umbrellas! Sell food rations. Sell bottled water. Sell bus tickets to somewhere dry. Sell the stuff people want when it&#8217;s raining.</p></div>
<div>
<p>Crisis creates opportunity.</p></div>
<div>
<p>The morale of the story is that even in storm, people still have money&#8211;but what they care about and what they spend money on changes. The key to ensuring your business survives and even prospers is to sell what people want to buy right now.</p></div>
<div>
<p>Do NOT what they used to buy. Don&#8217;t sell what you think theyneed. Just sell what they want to buy at this precise moment in time.</p></div>
<div>
<p>It seems simple enough&#8230; sell what people want to buy. But, as I am fond of saying, under times of extreme stress and pressure, common sense is the first thing that goes out the window.</p></div>
<div>
<p>Don&#8217;t let it!</p></div>
<div>
<p>Be brutally honest with yourself. Ask yourself, are you selling the products and services your customers want to buy? (If you&#8217;re not sure, check your bank balance. It doen&#8217;t lie)</p></div>
<div>
<p>If you&#8217;re not or if your only partly selling what customers are buying, go talk to your customers and figure out what they want right now. It&#8217;s a great place to start.</p></div>
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		<item>
		<title>Mental Toughness in a Recession</title>
		<link>http://www.victorcheng.com/recession-mental-toughness</link>
		<comments>http://www.victorcheng.com/recession-mental-toughness#comments</comments>
		<pubDate>Wed, 08 Apr 2009 18:42:17 +0000</pubDate>
		<dc:creator>Victor Cheng</dc:creator>
				<category><![CDATA[Victor Cheng Blog]]></category>
		<category><![CDATA[mind-set]]></category>
		<category><![CDATA[recession]]></category>
		<category><![CDATA[recession survival]]></category>

		<guid isPermaLink="false">http://www.victorcheng.com/blog/?p=96</guid>
		<description><![CDATA[I saw the most interesting article the other day on Yahoo. It talked about a young entrepreneur that exhibits incredible determination despite a number of things going against him. 23 year old Joe Steffy suffers from autism, down syndrome, and is unable to use his voice to communicate. In school, his teachers told his parents [...]]]></description>
			<content:encoded><![CDATA[<p></p><p>I saw the most interesting article the other day on Yahoo. It talked about a young entrepreneur that exhibits incredible determination despite a number of things going against him.</p>
<div>
<p>23 year old Joe Steffy suffers from autism, down syndrome, and is unable to use his voice to communicate.</p></div>
<div>
<p>In school, his teachers told his parents that Joe would never live an independent life and certainly could never run a business.</p></div>
<div>
<p>Of course, this just irritate Joe to no end.</p></div>
<div>
<p>Today, Joe runs his own business making Kettle popcorn that he sells to local retailers and local events. 2005 sales were $16k, 2008 sales were $50k. His goal for the next three years is to double sales to $100k per year.</p></div>
<div>
<p>You might not find these numbers are inspiring, but I find his determination humbling.</p></div>
<div>
<p>In case you&#8217;re wondering how he sells new retail partners on carrying his product, he brings with him his laptop with a computer assisted speech device that helps him communicate.</p></div>
<div>
<p>How much you wanna bet that Joe&#8217;s not going to let no stinkin recession slow him down.</p></div>
<div>
<p>Here&#8217;s the article in case you&#8217;re curious:</p></div>
<div>
<p><a href="http://news.yahoo.com/s/usnews/20090403/ts_usnews/how1autisticyoungmanrunsabusiness">http://news.yahoo.com/s/usnews/20090403/ts_usnews/how1autisticyoungmanrunsabusiness</a></div>
<div>
<p>In life and especially in a recession, you get what you expect.</p></div>
]]></content:encoded>
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		<title>Lessons from a Recession-Proof Toddler</title>
		<link>http://www.victorcheng.com/recession-proof-toddler</link>
		<comments>http://www.victorcheng.com/recession-proof-toddler#comments</comments>
		<pubDate>Mon, 06 Apr 2009 18:38:10 +0000</pubDate>
		<dc:creator>Victor Cheng</dc:creator>
				<category><![CDATA[Victor Cheng Blog]]></category>
		<category><![CDATA[Mindset]]></category>
		<category><![CDATA[perspective]]></category>
		<category><![CDATA[recession]]></category>
		<category><![CDATA[recession proof]]></category>
		<category><![CDATA[recession survival]]></category>

		<guid isPermaLink="false">http://www.victorcheng.com/blog/?p=92</guid>
		<description><![CDATA[The other day my youngest daughter, Charlie, wanted to show me something. She&#8217;s 22 months old and was terribly insistent on showing me something. The music CD from her toddler music program was playing in the background. She leaned against the wall with one hand, stood on one leg, and was swinging the other leg [...]]]></description>
			<content:encoded><![CDATA[<p></p><p>The other day my youngest daughter, Charlie, wanted to show me something. She&#8217;s 22 months old and was terribly insistent on showing me something.</p>
<div>
<p>The music CD from her toddler music program was playing in the background. She leaned against the wall with one hand, stood on one leg, and was swinging the other leg back and forth to the beat of the music.</p></div>
<div>
<p>She was so proud of herself, grinning from ear-to-ear indelight. I thought she wanted me to copy her, so I started to and she got very grumpy very quickly.</p></div>
<div>
<p>I quickly realized she just wanted me to watch, so I did until her little performance was done.</p></div>
<div>
<p>She was so happy.</p></div>
<div>
<p>Afterwards I realized that in her world she has no idea there&#8217;s a recession going on.</p></div>
<div>
<p>She has no clue it&#8217;s the worst recession in 75 years. In her world, she&#8217;s got a roof overhead, food to eat, parents that love her, an older sister to play with (who from time to time does torture her, but her life can&#8217;t be 100% perfect), and with lots of opportunities for smiles and giggles all day long.</p></div>
<div>
<p>In her world, life is pretty good.</p></div>
<div>
<p>And its at that moment, I realize that taken the by the standards of a two year old, life is actually pretty good for alot of people&#8211;recession or not.</p></div>
<div>
<p>Her expectations about life are innocently focused on the basics. Many people, myself included, could use a reminder about that every once in a while.</p></div>
<div>
<p>I personally tend to be a forward thinker &#8211; what do I need to do tomorrow, next month, a year from now to get to where I want to go in life. I know a lot of people who are historical dwellers.</p></div>
<div>
<p>What happened to the good old days? And dwell unproductively on the past.</p></div>
<div>
<p>I know very few adults who are present-oriented&#8230; where they focus on right now, this second, this moment. I try to do to this, but it takes a conscious effort to be &#8220;present&#8221; as it is not my natural instinct.</p></div>
<div>
<p>But this instinct is natural for a &#8220;recession-proof&#8221; toddler.</p></div>
<div>
<p>And if you want to have a recession-proof moments in your life, try being &#8220;present&#8221; and enjoying the basics that we all already have, but often take for granted.</p></div>
]]></content:encoded>
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		<item>
		<title>Recession Combat Fatigue</title>
		<link>http://www.victorcheng.com/recession-combat-fatigue</link>
		<comments>http://www.victorcheng.com/recession-combat-fatigue#comments</comments>
		<pubDate>Sat, 04 Apr 2009 18:32:11 +0000</pubDate>
		<dc:creator>Victor Cheng</dc:creator>
				<category><![CDATA[Victor Cheng Blog]]></category>
		<category><![CDATA[entrepreneur]]></category>
		<category><![CDATA[recession]]></category>
		<category><![CDATA[recession survival]]></category>
		<category><![CDATA[small business]]></category>
		<category><![CDATA[startups]]></category>

		<guid isPermaLink="false">http://www.victorcheng.com/blog/?p=89</guid>
		<description><![CDATA[I just came back from giving a speech to a bunch of students on  Santa Clara University. They were deeply concerned about the  recession and how this effects their getting jobs. Last night I gave a speech to group of seasoned businessowners. The business veterans were pretty nervous too. Everywhere you look, people are nervous. [...]]]></description>
			<content:encoded><![CDATA[<p></p><p>I just came back from giving a speech to a bunch of students on  Santa Clara University. They were deeply concerned about the  recession and how this effects their getting jobs.</p>
<div>
<div>
<p>Last night I gave a speech to group of seasoned businessowners. The business veterans were pretty nervous too.</p></div>
<div>
<p>Everywhere you look, people are nervous. The vast majority of the news about the recession is negative and usually overly so.</p></div>
<div>
<p>When there&#8217;s positive news, it too is usually overlyemotionalized.</p></div>
<div>
<p>The emotional roller coaster ride between the economy is near the end of the world to the recession is almost over is draining.</p></div>
<div>
<p>The reality is the economy does not change that much in 24hours. But the news sure makes it feel like there&#8217;s a lot more chaos than really exists.</p></div>
<div>
<p>When you add the news to the actual issues you face in your business, the combined effect can often be exhausting.</p></div>
<div>
<p>Here are three tips to beat what I call recession combat fatigue.</p></div>
<div>
<p>1) Stop watching the news!  The news is not all that relevant to your business. The economy could very well recover from an economists point of view, but your business could still suffer.</p></div>
<div>
<p>2) Get your pulse on what customers are thinking. The news isn&#8217;t all that relevant, but what is relevant is paying attention to the customers in your market.</p></div>
<div>
<p>What do they care about today, that they didn&#8217;t care about a few years ago? What are they still buying and why? Who is still buying and why?</p></div>
<div>
<p>What you thought you knew about your market may have changed. Get the latest info.</p></div>
<div>
<p>Accurate facts are incredibly calming in a crisis. At least you know what you&#8217;re up against.</p></div>
<div>
<p>It&#8217;s much harder to drive on a bumpy dirt road blindfolded than with both eyes open seeing clearly. The bumps are the same, butone experience is terrifying while the other is merely a little annoying.</p></div>
<div>
<p>3) Don&#8217;t dwell on the problems in your business, focus on the finding and then executing the solution. Progress also calms the nerves.</p></div>
<div>
<p>When you&#8217;re too busy fixing your problems, you have no time to worry about them. Sit on you hands and worry creeps in.</p></div>
<div>
<p>Those are my tips for the day.</p></div>
</div>
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