What's happened to the economy has been likened to a tsunami as well as an implosion. When the undersea earthquake and subsequent tsunami hit in Indonesia in 2004, the world was stunned by the devastation that took place. It triggered earthquakes around the globe as far away as Alaska. It happened in a very short amount of time.
This kind of event takes shape over a period of time and then erupts with incredible force. What happened this past year is similar in that respect -- it'd been brewing for some time. When it hit, it was like a tsunami which caused other economies to start crumbling as well. We are all familiar with that scenario. What we need to do now is deal with it.
The aftermath of a tsunami requires surveying the damage, picking up the pieces and moving on. Some people have bigger losses than others, but everyone has to keep going.
When it comes to implosion, it's more of a cave-in than a wipe-out, but equally potent. We saw the effects of an implosion watching the towers fall on 9/11. It's a domino effect. We won't sink because we can swim, but let's not go the way of dominos. Let's be smart and learn to think for ourselves in positioning ourselves for what comes next. Here are a few survival tips:
Pay attention to national and international news and finance coverage at least several times a day, preferably hourly. In volatile times, vigilance is necessary.
Absorb, assess, and then act. Knowledge without action is impotence.
When a tsunami hits, there's no time for procrastination. Keep your momentum in tune with the times.
Avoid your comfort zone -- it's probably outdated anyway.
If you're honest, you should know the questions that should be asked, as well as the answers. That's probably why there's so much confusion out there today.
- Remember The Blitz. That can put things into perspective. Things may be tough and getting tougher, but we're not being bombed day in and day out either. If you don't know what The Blitz is, use your time wisely to study WWII to find out.
Is your life half empty or half full? Half is better than zip. Count your blessings.
Realize that fear is the exact opposite of faith.
Resolve to be bigger than your problems. Who's the boss?
Don't negate your own power. Whatever you've been dealt, know you can deal with it.
Copyright © 2009 Donald J. Trump, author of Think Like a Champion: An Informal Education In Business and Life
Donald J. Trump, author of Think Like a Champion: An Informal Education In Business and Life , is the very definition of the American success story, continually setting standards of excellence while expanding his passionate interests in real estate, gaming, sports, and entertainment, which include runaway hits The Apprentice and The Celebrity Apprentice. He is one of the most recognizable and credible "brands" in the world. Trump is the Number One New York Times bestselling author of The Art of the Deal, Surviving at the Top, The Art of the Comeback, and How to Get Rich, as well as other books that have changed and enhanced the lives of millions of people. An ardent philanthropist for many years, Trump is involved with numerous civic and charitable organizations, and has always felt that giving back adds a sense of perspective and substance to anyone's life.
For more information, please visit www.trump.com