April 30, 2008
Wealth helps solve poverty
Economic indicators, from media reports, appear weak and consumer confidence is down. More and more people are described as living closer to the poverty line. Is the United States heading for a recession, or worse?
Recession and depression depend upon one's perspective. The example is that if you lose your job and struggle with making ends meet, that is a recession. However, if the same thing happens to me, then we are in a depression. So, what is the solution to hard economic times?
In my office, there is a quote: "When the wind stops, row!" Translation: When life serves up lemons; and puckering up is not your preferred response; then make lemonade, lots of it.
Recession and depression, reflecting negative cash flow, personally or nationally, can create poverty. And, everyone knows that the solution to poverty is wealth. The poverty can include a shortage of ideas, relationships, hope, physical strength and, yes, money. Regardless, the solution to poverty, even the fear of shortages, is abundance, wealth.
To make the definition of wealth clear - please consider the term to include six attitudes that will trump poverty.
WEALTH stands for: Wisdom, Enthusiasm, Application, Luck, Thoughtfulness and Health
Successful achievement, in good times and bad, at least among the 8,000 managers and executives with whom we have consulted, embraces these six constructive behaviors.
- W-isdom: Learning from others, taking notes, keeping a record of what works well and monitoring performance, continuously soliciting feedback from objective observers who have achieved success in their respective area.
- E-nthusiasm: Directed and steady energy focused on all of the tasks that need accomplishing, whether a part of one's true passion, or simply the demanding requirements necessary to deal with challenges at hand.
- A-pplication: Continuous learning involves a willingness to "do what it takes" - ceasing with theories and talking about what needs to be done - leveraging one's mind and energy, and not counting the hours or days, but accepting the reality of hard work and sacrifice as the essential differentiator between success and failure.
- L-uck: When preparedness meets opportunity, some folks call it luck. Or, as others have said, the more thoroughly they prepared the luckier they were. And, there is the dimension of staying alert to those who can and will help - when they are asked.
- T-houghtfulness: Includes graciousness, consideration of the needs and feelings of others and is most clearly observed in how caringly people are treated who least effectively are able to push back.
- H-ealth: Keeping minds, souls and bodies refreshed and strong requires careful feeding and nurturing, including formulating and living personal values, listening to new ideas, reading broadly, exercising, relaxing, meditating and laughing.