Looking Ahead at 2011

                             
Well, another year is almost in the books and we are looking at the prospects of Opportunities and Challenges in 2011.

How we deal with varied aspects of our lives and business will determine how successful we will be this time next year. When we look back one year from today and evaluate how we handled both the opportunities presented and how we dealt with the challenges we will probably be able to determine if we handled them, or circumstances and events handled us.

During my next several posts I'll list the opportunities, challenges and strategy for dealing with governments, markets, ethics and personal behavior issues. But today I want to briefly talk about financial considerations both personally and professionally.

Most of you have heard me talk about the two tracks necessary for financial health. 1.) Good money management i.e. saving, cost cutting, taking bold actions to eliminate waste, limit debit etc. 2.) The next track deals with developing revenue streams i.e. making money! This is where I want to camp for few minutes. I want to remind you of the difference between being a good money manager and "creating wealth."

Creating wealth seldom happens by drawing a pay check, asking for contributions, drawing unemployment, saving your money or any other action that allows you to tread water or "get by." Some of these actions may be necessary for the short term but often the short term fix becomes the strategy for corrective action.

We live in a world of entitlement. People commit illegal acts, riot, protest with the insistence of "you owe me." This runs deep in almost every aspect of business, labor, non-profits, churches, education and governments. The amazing thing is to hear how people have hypnotized themselves, through their rhetoric, to actually justify and believe in their entitlement spin.

Companies and individuals who create wealth are never satisfied with the status quo and are willing to take risks that may make them or break them, but are willing to take the chances in order to grow. With high risk comes the possibility of high rewards. What paralyzes people is that with high risk also comes the possibility of failure.

> My dad was a carpenter who lived on a dirt farm that produced very little. He was a good money manager and knew how to squeeze the life out of every dollar he ever had. However, he was just getting by. He did not experience financial health until he took the necessary steps to "create" wealth. Instead of being a carpenter working for an hourly wage, he started his own business building quality homes. He invested heavily into poultry production which turned his pitiful farm into a cash machine.

>  Sam Walton went from being a store manager drawing a monthly salary from a large corporation to opening his own store which ultimately evolved into the largest retail organization in the world.

> Rick Warren went from a preacher asking for money to giving away most of what he makes after writing a number #1 best selling (40 million copies) book. The "Purpose Driven Life" gave Warren both fortune and fame. But more than that it gave him a platform for his message.

> The technical world stands still when Steve Jobs announces his yearly "new product." Not satisfied with "getting by" or living on past success, Apple is still a tough competitor with loyal "fans"around the globe.

Some will attribute the above to luck. I believe you make your own luck which includes (but not limited to) talent, strategy, guts, Providence, tenacity, knowledge, wisdom and financial cognizance.

Not every person can start their own business, but every person can create wealth for themselves and for the companies they work for.

In organizations around the world we are lacking in financial knowledge and common sense. If we are going to do more than just survive, we must learn how to create wealth. As I work with organizations around the world, we will be doing just that. We must because I believe during this time of economic uncertainty, traveling down two different tracks must merge into ONE in order to overcome the challenges and take advantage of opportunities of 2011 which will position us to THRIVE, not just survive.

From us to you...Merry Christmas and Press On for a prosperous New Year!