7 Secrets For Staying In The Game To Find The Seeds Of Opportunity For 2009 And Beyond...

When I hear or read these type discussions about survival, I am reminded that I am a descendant of the 7th Cavalry survivor (as in Custer's last stand), which is why I am here today -- and why I desire to help you focus on the salient points to not only help you survive, but also prosper in the coming months and years racing toward us.

As we are all aware, we've been on the roller coaster ride from high growth where things happen to our current situation of a greatly stalled business climate (and what we trust is near the bottom, or pretty close to it), And, like any roller coaster ride, in due time we'll be heading upward to new heights, as the roller coaster or economy traditionally does.

In addition, as tradition also dictates, we want to rely on those factors for success that have survived the test of time, so getting back to the basics again will be key. The basics helped make us great in the past and the basics will keep us great in the future.

While acknowledging the magnitude of the changes at hand, my personal philosophy is that: We have gone through these downturns before and the sun WILL shine again. Someone will find those opportunities, why not us? On tough days, it is nice to have a positive goal to see me through. Both greed and fear cycles eventually end. This is a transformative type recession.

Before some of you ask, I acknowledge the magnitude of the changes that are at hand. People have a broad lack of trust, as acknowledged by 0% treasury bills. Essentially people are paying for the privilege of knowing they will get all their money back. Overall there is a flight to quality again, which is more important than overall sector status. We are back to the basics. People are balancing risk and return again. A number of experts are asking is the magnitude of this recession a game changer?

In addition, as tradition also dictates, we want to rely on those factors for success that have survived the test of time, so getting back to the basics again will be key. The basics helped make us great in the past and the basics will keep us great in the future.

It goes without saying that at the heart of every risk management strategy is a contingency plan, which serves as a back up, or a safety net, in the event that the risk strategy goes awry, or worse, Murphys Law comes into effect. In fact, building a contingency plan into an organizational culture is de rigueur for the long-term health of a company.

And now for the secrets for staying in the game to find the seeds of opportunity for 2009 and beyond
1. Truthfully look at where you are, and will be if you keep doing what you have been doing.
2. Look at and reassess your intermediate and long term goals.
3. Review your short term risk tolerance.
4. Create a plan to get you from where you are to where you want to go, with a contingency plan.
5. Cover your downsides.
6. Execute and beat your plan.
7. Make lemonade from lemons.

As I relayed earlier, there is no better time than NOW to take advantage of the hidden opportunities that lie within our financial crisis. Those of you who roll up your sleeves, take your company pulse, and develop a risk contingency plan will not only turn crisis into opportunity, but will create new opportunities out of this financial meltdown. The choice is yours and the stakes are high.

Yes, this may sound simple as you read these words, yet implementing these crucial points to gain leverage in our challenging economy is a story with a different plot -- one with a twist and unforeseen turns.

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