Adversity = opportunity

18-Jul-2008 Newsletter:
(Article archive here...)

Albert Einstein once said: "In adversity lies opportunity."

Weird fact: Your brain will find an answer for every question you ask. Really.

To try this, stop reading, ask yourself the following question and wait for an answer:

"Why will I never be rich?"

(If you got "I don't know", wait a few seconds for your brain to get warmed up...then really think about the question...)

Get the answer to affirm your belief?

Sure you did. Now try this:

"What little thing can I do to get richer?"

Got an answer again, didn't you?

The phrase "In adversity lies opportunity" focuses your mind to ask the right questions.

You may want to prove this maxim wrong, so I dare you to (honestly) show that there is not a single opportunity in whatever adversity you are facing at the moment.

Just by thinking about hidden opportunities will find them. It's like trying to keep the image of a yellow elephant out of your mind.

Make no mistake: all of us are facing the same economical adversity at the moment - be that in our jobs or our businesses - inflation, interest rates, slower sales, petrol prices, food prices, etc, ad nauseam. Even the cold weather conspire to suck away our mojo!

So, gentle reader, this newsletter is a bit like a brainstorm. Let's go fish for a few opportunities:

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A few years ago someone told me a story about an emergency board meeting for a company that was on the brink of bankruptcy:

The latest group of management consultants were presenting scenarios and strategies to rescue the company from certain liquidation.

First on the "hit list" was to close a few factories and fire the workers, because, the consultant argued, the overhead saved will boost the bottom line.

Most of the directors thought this was a perfectly reasonable strategy, but one (a new and inexperienced director) interrupted the consultant and asked:

"If closing 5 of our factories will save millions - why don't we close all of them and save billions?"

Stupid question?

Hardly.

The director made a very valid point: you can very easily save your way to bankruptcy.

To survive (as a company or individual) you have to produce a product or a service. Survival depends on productivity - first and foremost.

You and I are not in the millions or billions game (with apologies to our Zimbabwean readers) but we do produce a product or service: so our focus should be to find ways to improve our ability to produce our product (or service) faster, better, more cost effectively.

To sharpen the axe as it were - and what better time is there to do this than slow times? Think about that for a second:

The economy (and life) is cyclical - always was - and this is probably not the first time you experienced a slow down. But what if, when things pick up again (and we know for a fact it will), what if you are faster, leaner and more productive?

Able to do business better and more profitably than during the last bull cycle? To be better at your job, your relationships, your hobbies, your life.

Wouldn't that be sweet?

Our businesses are all different - each with it's own unique set of opportunities and difficulties, so pick your adversity and find the opportunity. Here are a few questions that might help:

How can you improve your marketing?
How can you improve your web site, your FaceBook, MySpace or Linked-in profile, your CV?

Where is the opportunity hiding? (I hope you are not still thinking about that yellow elephant?)

Why will your customers buy more from you?
Do you contact them enough? Do you know who they are? Do you know what they need? How can you improve the relationship with them or your significant other, your kids or your parents?

Where is the opportunity hiding?

Where and how can you streamline your processes?
Oil the wheels of commerce: Soup-up your quote process, or filing, or the way you pay bills, or the route you take to work.

Where is the opportunity hiding?

How can you invest in yourself?

Buy (and read!) books (like: "Think and grow rich") to inspire you and to give you new ideas and skills. If you learn even just one significant thing in a book, it was worth reading it.

Where is the opportunity hiding?

I'll tell you where it's hiding: In your head. Just ask the right question.

In adversity lies opportunity. Believe it so that you can see it.