***The 2% Economic Attitude Adjustment

I’m getting fed up with the media hysteria of the state of our economy. Sensationalism and ratings-grabs are leading the news these days and it’s sickening. Companies and their “Chicken Little” CFO’s are buying into the hysteria while sitting on piles of reserve cash. The sky is NOT falling. In fact, we’re perhaps better off than we were two years ago. How so? Think this way: the Canadian economy for the past three years was running too hot. When you run a car too hot, you do more damage to the engine than when you run it at a constant speed within the “moderate” range. When a machine gets too hot, it needs to slow down to allow the engine to cool a little. In other words, what we’re experiencing right now is a simple push of the “Reset” button. That’s how Canadian Business Magazine has described this time in our economy.

Now if you want to witness an economy out of control, let’s go back to Canada in the early eighties. The unemployment rate was over 12%, inflation was 12.5% and interest rates were over 20%. Twenty percent! Compare those figures to today (January 2009): unemployment at 7.2%, inflation at 1.07%, and the Bank of Canada Rate for January was 1.25%.

So, because the interest rates and inflation rates are so low right now, let’s just take a look at just the unemployment rate and talk about it. On average in Canada, for the last ten years or so, the unemployment rate has run around 5.2%, which means that 94.8% of people who wanted to work were working. Today, 92.8% of people who want to work are working. That’s a two percent difference folks. Two percent! How would a drop of two percent affect your business? No really. Seriously answer that question. Is your business on the brink of financial ruin with a drop of two percent in the employment rate? Seriously?

Interest rates are so low that borrowing money is almost free. Inflation is so low that you can almost guarantee that the prices you pay today will be virtually the same prices tomorrow. The market is consistent with its own performance over the past five years for the most part. So what’s with the panic?

Many people think attitude training is hokey and it's a soft skill that you can do without. But the truth is that if your people are quoting chapter and verse from the media about the sky falling and your people end up passing that uncertainty along to your customers, your customers are going to be uncertain about doing business with you. The attitude of your people transfers to your customers.

US President Obama has recently made a commitment to reduce the US deficit of 1.3 trillion dollars by half within the next four years. In doing so, the plan is to stimulate the economy by creating new jobs. When President Bill Clinton did the same in the nineties, he got rid of the deficit. And guess what happened? He produced 24 million new jobs. The US had eight years that were the most successful in the second half economically of the 20th century.

ATTITUDE ADJUSTMENT: The truth is Attitude, in this time of economic uncertainty, is far more important than fluff like Time Management. It's the attitude of your people, when they speak with customers, which will make you a winner in a “down” economy. It's Attitude that keeps your people's perspective in check when they hear the media say the sky is falling. It's Attitude that will cause your people to realize that business is in the toilet if you "believe" that business is in the toilet. If your people accept that they can't be successful while times are supposed to be hard, then you may as well close your doors until the economy gets better because you are going to bleed red ink.

Attitude is perspective. Change the perspective and you change the results. You can't do the same thing the same way everyday and expect to magically succeed. But once you change someone's perspective, once you change how they see problems, once you change how they believe things can be, you change results.

There are companies around the world who are succeeding in spite of the "economic downturn." Would you be willing to take the time to find out their secrets? I'll save you the trouble. Companies become successful when they don't allow excuses, reasons or justifiers to stand in their way. The Economic Downturn is nothing more than a convenient excuse for companies doing poorly. That excuse lets business off the hook for being mediocre. That's simply "Attitude" in play.

Leadership is an Attitude. Service is an Attitude. Safety is an Attitude. Success is an Attitude. Winning is an Attitude. Perspective is an Attitude.

None of it is measurable or tangible. But you won't find a single successful organization without it.

If your people are scared when they work or deal with clients, you're doomed. If they've got Attitude, there isn't a single thing that will ever stop them from achieving.

So, what's your next step?