Hard economic times provide excellent strategic opportunities for entrepreneurs who are willing to buck conventional wisdom. 

Hundreds of successful entrepreneurs currently rely on Garrett B. Gunderson to help guide them on unconventional paths to business and personal success.  Here is what Garrett is currently advising his clients:

1. Raise Salaries.
2. Spend More.
3. Meet Less.
4. Stop Saving for Retirement.
5. Put All Your Eggs in One Basket.
6. Go Back to School.

1. Raise Salaries

When so many employers are reducing their workforces and cutting salaries, step up by showing your employees how much you value Human Capital and give them raises.  Employees, contrary to conventional accounting wisdom, are assets, not liabilities.

Savvy entrepreneurs recognize that each dollar invested in raising salaries during economic hardships leverages the loyalty and productivity of employees far more than handing out comparable raises during boom times. 

Now is the time you need to get the best out of your people.  Increasing their salaries demonstrates strength, vision, and importantly, gratitude for their contribution to your success.

2. Spend More 

Some great bargains are available now, for those who have the courage to nab them.  Many assets are undervalued and can be acquired at discounted prices, be they inventory, fresh hires, office supplies or even real estate for future expansion.

It is far more conducive to wealth creation to focus on increasing your production, rather than on slicing your expenses.

Spend where your money will have the most impact. 

3. Meet Less. 

Control freaks meet.  In good times, this inefficiency is easily glossed over.  But now is the time to empower your people, set clear expectations and boundaries, and then get out of their way.

Instead of sitting around in meetings talking to one another, encourage your employees to get out and improve contacts with customers and vendors.  Your team members can’t spot any market opportunities passing time in your company conference room.

4. Stop Saving for Retirement 

The best pension plan is simple: be successful.  Although qualified plans are sacred cows, you can’t afford to lock your money up in retirement plans now when liquidity is so essential. 

Ultimately, your business is a far better investment than a 401(k) anyway, especially since it can provide ongoing cash flow without the worry of depleting principal. Invest in yourself and in your business. By improving your liquidity, you’ll have cash to fund your enterprise and seize opportunities created by the economic dislocation of others.

5. Put All Your Eggs in One Basket 

Let others worship at the alter of diversification.  Now is the time to take a long, hard look at your business’s core reason for existing – its so-called Soul Purpose – and focus all your resources and energies on it.

Who are you?  Why do you exist?  Who do you serve?  What can you be the best in the world at?  Stay true to yourself in hard times and shed the excesses you’ve allowed yourself along the way.

6. Go Back to School 

Forget what you think you know about business, marketing and the economy.  The world is constantly changing and fortune-makers will use slow business periods to bolster their education and leadership skills. 

The most successful entrepreneurs I know are those who are constantly reading, attending seminars, engaging with mentors, and exposing themselves to new adventures and ideas.   This is even more imperative when the difference between those who weather the economic storm and those who don’t may well be the extra edge and contacts that continuing education provide. 

Conclusion 

While others are downsizing, cutting back, floundering, and desperately trying to diversify, you should be building your people, spending more money on the right things, thriving by being on the cutting edge through education, and maintaining laser focus on what you do best.  

How To Influence the External Economy With Internal Decisions 

Every expert in

So what is the long-term solution? Does the current crisis represent the end of

The first step to identifying solutions is to accurately diagnose the problem. While the reasons are diverse, our current predicament is the product of three primary factors, on three different levels: 1) the government manipulates the economy with the money supply, creating artificial demand and warping natural market forces, 2) corporations have been guided by shortsighted greed, and 3) average Americans consume more than they produce.

Since corporate behavior and government policy represent individual action, the only long-term solution to

Internal v. External Economy 

The external economy represents everything outside of you: GDP, the Federal Reserve, international trade, supply and demand, manufacturing, etc. Your internal economy is the sum total of the value you offer to others minus the factors that limit your production. It is your human life value—your knowledge, skills, abilities, relationships, confidence, etc. It is what happens within you that determines your material and spiritual prosperity, or lack thereof.

Our pressing crisis hasn’t happened in a vacuum; it’s the result of a steady shift in culture, based on personal, internal decisions. We can blame the government and corporations all we want, but government agents and corporate executives are common Americans like you and I, doing common things. There’s little you and I can do to influence government policy during this crisis, but there’s an infinite number of things we can do to ensure security and prosperity regardless of what happens in the external economy.

Do you want to learn and grow, or complain and wallow in the misery? If you choose the former, then it’s time to grow your internal economy. But how, exactly, is this done? Your personal economy will be strengthened and vitalized by living the following five principles:

1. Entitlement is the enemy of prosperity. 

Stop waiting for someone else to solve your problems and give you economic security. Contrary to New Deal lies and cradle-to-the-grave propaganda the only things you’re entitled to are life, liberty, private property, and the pursuit of happiness. The government owes you nothing but the protection of your unalienable rights. Corporations can give and take benefits as they please.

Your suffering during hard economic times will be directly proportionate to the degree to which you feel entitled to “security” and benefits from any person or institution. You’re entitled to the fruits of your own labor and ingenuity—nothing more or less. Don’t abdicate your responsibility to prosper to funds that you don’t understand, investments that you can’t control and that are not collateralized, and managers that you don’t know. Take full responsibility for your money and your life.    

2. Produce more than you consume. 

The average American—while complaining about the federal budget deficit—spends more than $1.20 for every dollar that he earns. Contrary to the crippling myth that “consumer spending drives the economy,” production drives the economy. Production—creating value for others in a way that they compensate you for it—is what gives any individual or entity the ability to consume.

You can’t control government spending. But you can control your own. Spend less than you earn. Never, ever borrow to consume. Pay off consumer debt as fast as you are able. Cut up your credit cards if that’s what it takes. Increase your production through education, better marketing, a career change, etc. Save and invest ten percent of your income. Do whatever it takes to ensure that your home economy produces more than it consumes; this is the best way to fight inflation.

3. Value creation comes before desire fulfillment. 

Who has more money—you, or other people? Obviously, other people. How can you get others to give you money? By providing something to them that they value more than their money. Greed and selfishness are at the basis of so many of our current problems. The wise understand that they can only get what they want by first focusing on what other people want; they are still self-interested, but they are not selfish.

What do you have to offer that other people want? What suffering exists in the world that you have the ability to alleviate? What do other people need and how can you provide it efficiently? Dollars follow value—creating value for others is the only legitimate way to meet your own needs.

4. Integrity is worth its weight in gold. 

Corporate executives are being caught in lies like flies to honey. But what about you? Are you going to unfairly take advantage of others in the name of “Everyone else is doing it?” Or will you take the road less traveled and be a person of your word, a person who others can trust in and rely upon? Does your private life reflect your core values?

When times are hard, people look for stability. Integrity provides stability of character, drawing others toward you. Integrity alone is a magnetic marketing tool and will boost your ability to influence and serve others, and therefore profit in spite of crises.

5. Find and live your Soul Purpose. 

Soul Purpose is your unique set of talents, abilities, values, and passions applied productively and effectively, making tremendous impact upon the world and bringing the highest levels of joy and fulfillment to you and everyone you touch.

You were born for something wonderful. Are you doing it? Do you love to get up every morning? Are you energized by your career? Does it continually stretch you to achieve your fullest potential? Are is it time for you to choose something different?

Prosperity is much more than dollars, investment accounts, and toys; it’s the internal joy that you experience by applying your best work to pressing problems. Soul Purpose is the best long-term investment.Find what you were born to do and do it—your prosperity will increase exponentially.  

The problems we face are big—which means that there’s now more opportunity than ever to create value by alleviating suffering. Big problems require bigger solutions, and bigger solutions pay bigger dividends. The positive side of the financial meltdown is increased awareness; there is now enough pain for us to course-correct and overcome the economic myths of the last century.

The solution isn’t to elect new leaders any more than changing drivers on a broken car makes the car run better. The solution is for common Americans to reform the economy from the inside out by eliminating the entitlement mentality, producing more than we consume, creating value for others, developing impeccable integrity, and living Soul Purpose. If you don’t know what to invest in—especially during hard economic times—your best bet is to invest in yourself through education. After all, the external economy is nothing but a reflection of the aggregate of internal economies.  

I had a conversation yesterday, where someone that I usually feel inspired by their energy and assured by their perspective, that exposed the thinking of so many people right now. Times have changed in the last quarter with the lending market, real estate, and many in business. Wth this change comes the voices of naysayers and those that have lived in fear and envy for so long. Now we hear from these people as they say things like “I told you that wouldn’t work, it was just a matter of time, etc”.

In actuality one of the best things that has happened to so many people is this difficult time. Many wouldn’t choose it, but it separates those that talk the talk from those willing to walk the walk even when the road has bumps. I want to declare my commitment to producing value. I also commit to choose abundance even in the face of seeming scarcity. I recognize that there are unfulfilled expectations and disappointment. There may even be legitimite situations of lack of integrity, consumption beyond production, and especially lack of communication. Each situation brings its own story in some ways, but unfortunatly the myths and misinformation become formed with speculation and social agreement through fear based gossip.

For those that are having scarcity type of thoughts, I recommend you look internally, ask yourself what choice you can make in the moment and pay attention to your conversations. Are the conversations about creating value or complaining? Are they productive or really just t villify? When things go wrong, there is a cycle that begins by those that talk about what is wrong. Even in difficult times, there is always a choice in the moment. There is still Human Life Value and Soul Purpose. Some of the best things I have learned in life or the greatest breakthroughs happened when times or things were tough.

I have had some things happen in real estate, in business partnerships, and with my businesses this last month that I would not have expected, chosen, or necessarily wanted. But what I have found is that when these things happen I am given a choice in the moment. It is through these choices that I gain power and perspective. Even in the moment when it isn’t preferred, it many times is the very fuel of production and breakthrough. I even see it as a gift. When I am thankful for the events and experiences in my life, I maintain a life of abundance. To share something very personal, I have been writing a reality statement each week to grow during these times and continue to love my life:
Thank you for the blessing of this day, the perfection of this moment, the sacredness of this life. Allow me to see and live abundance. To express love. To choose wisely. Thank you for the gifts of experience, the perspective of Soul Purpose, and the enlightened life. Allow me to recognize the Godself and feed this abundance with attention and energy. When I am aware of my limitation I say- Remeber God, Choose Love, and Create Value. This transcends any fear, doubt, or worry. Love, Happiness, faith, and poweris who I am. I am a vehicle of your love. AMEN

So, today I woke up tired, but I created the space for amazing production, therefore I will produce. The principles apply in good times and bad. It is the bad times that allow us to learn and align. Where are you and what are you committed to? I am committed to my Soul Purpose and creating value, regardless of circumstance.

October was probably the craziest month I have ever had in business. I apologize for breaking my word on these past few posts. I had the intention to start posting 4-5 times per week again, but obviously I didn’t do that. Sorry. Breaking my word is unacceptable and I sincerely apologize.

There has been much going on. In previous posts and during the last few Wealth Symposiums, I have declared that I would be selling much of my real estate. For the most part, real estate has not been something that supports my Soul Purpose and in many cases it takes me further from my Soul Purpose. Well….I have several properties in partnership and my partner is heading towards bankruptcy. For the first time in my life I consulted an attorney for something that was more reactionary or to deal with difficulty rather than proactively planning. In the wake of any seemingly negative news, comes the good side. This has sped up my declaration to clean up my real estate holdings.

Another example of the bright side, for every decision that I have made that will either result in a loss or at least an inconvience, I made ten great decisions. Without these situations I wouldn’t be able to recognize principles as clearly. It leaves me with the question “if what you knew to be true turned out not to be, when would you want to know about it?” What if not knowing created temporary comfort for you, would you still want to know? I say resoundingly YES. These temporary obstacles give insight to great lessons and even though they are uncomfortable and difficult, they are the catalyst for growth.

Just this last Friday we had our second Quarterly Quantum for Mental FastTrack. The models were powerful and the group is absolutely amazing. The amount of Human Capital that is represented in those events is massive. What I am saying is that the genuis, Soul Purpose, and ingenuity that is represented by such a high calibur group brings about enormous value in the marketplace and for sure in my life.

This week Steve D’Annunzio is in town. He will be doing the Hour of Power on Wednesday. This is a videocast that anyone can attend at 6:30 mst either at 9890 South 300 West Sandy, Utah or live via videocast at ProducerPowerHour.com. It will be powerful for those of you wanted to find your Soul Purpose. Steve will be talking about the Spiritual Track where Soul Purpose already resides, just yet to be uncovered.

This last month the rough draft to The Money Tree was complete, the Quarterly Curriculum for the Producer Power Hour. I will be working on it all day and then Garrett White will join me for the second half of the day (he is a co-author on the book).

In summary, here are a few things that happened last month. The Prosperity Paradigm had a retreat last month, the intro packets for the Mental FastTrack and Soul Purpose FastTrack are nearly complete. The Producer Power Hour was launched. I began as a guest on the Kate Delany show (a nationally syndicated radio program). Hired a new writer. Committed to a literary agent and Killing Sacred Cows was picked up by a publisher. Also had several articles published. The Accredited Network now presents an event that is open to the public and we launched our first one last month successfully. Many obstacles to face, but much more positives to be thankful for. What is your perspective?

The interesting thing about all relationships is that they are both an asset and a liability. Parents understand this for sure. If their kids do anything like steal or break something that is the property of someone else, the parent now has that liability to deal with. The same goes for a business. As an owner of a business I participate in both the triumphs and value creation of others in the firm, but also with the issues that harm the goodwill of the firm or are destructive in any manner.

Just as I do not condone gambling (or what many call investing), I do not condone speculation or what I would call gossip in my organization. When there is complaining or blaming, it is from a scarcity mentality and is focused on the past and not producing in the present or preparing for opportunity in the future. It seems that fear is the number one reason for rumors and the survival of those rumors. Even if there is any truth to what people may be saying, my question is “is it productive”?

One of the best ways for me to overcome the human tendency to create stories based upon perspective (versus what actually happened) is to ask the question “what would I do and what would I want if I were in their shoes”? Now, the “their” I am talking about has to do with anyone we are wanting to talk about in a non-positive way. I know that it takes courage, but why not go to the source? Most people are mostly concerned with being right even if it means villainizing another.

So why do I talk about this in my post? Well…we always talk about people being assets, but every asset has a liability. Is there ever a time where increasing the liability without increasing assets or bottom-line increasing productivity makes sense? In the context of relationships I don’t believe so. It may make sense to address a liability and decide the asset isn’t worth it that is attached to the liability, but in this case one would reduce the liability by addressing it.

A rumor destroys the human life value of those who perpetuate it. If it is in fact a rumor, it also deceptively destroys he human life value of those that it is about. Being on the radio, I have had plenty of rumors about me. It is interesting the conspiracy theories that people come up with. And for what? Mostly to feel important or to justify or to be a means to express fear. Really, I know that it has become part of the social agreement in our world to gossip, but there is no production in it. It is a beast of consumption.

This is a serious post, but I want to be authentic each day with what is on my mind. I have plenty to be grateful for and could list those things today, but my mission this week especially is to address and stop any gossip in my businesses and relationships. This will be done with the very technology that is taught in the Mental FastTrack.

One thing is for sure, the more relationships and stewardship, the more critical it is to have proper structure, policy, and communication to address issues. The very nature of stewardship is that the more of a steward you are, the more resistance that will be present because of the consumer condition that is threatened.

I ask you to consider finding any relationships that drain your energy, create negativity or scarcity, or most importantly that you have neglected and get into powerful communication. Energy is one of our most precious resources. If people you know are going to be assets, are there any that have liabilities that you can address and protect your energy and human life value?

Yesterday was one of those amazing days where I was able to communicate with so many people and just so many things got accomplished. It really was exciting. One big thing that happened yesterday was that I am going to give a large donation to Southern Utah University in order to sponsor a large concert for homecoming.

The University President came and visited my office and created this opportunity. I had a great college experience and still keep in touch with the dean and several professors. There have been several occasions where I went and spoke at the University and they invited me back to speak again at homecoming.

Today I will spend time in education by going through The Strategic Coach. There are great entrepreneurs that come together to synergize and learn to enhance the client experience. Dan Sullivan, the creator of The Strategic Coach, is our personal coach in the program. When I say our, it is because Mike Isom my business partner is in the program as well.

No matter what level of success any person experiences, there is always room for growth and further education. One of the keys to my personal success has been to invest in myself without hesitation. Education is the price- are you willing to pay it?

Today I am in St. George, Utah presenting “Economic Certainty in Uncertain Times” with Mike Isom. This is the original symposium that was written by Les McGuire, my friend and business partner that died in a plane crash just over a year ago.

I had the opportunity to listen to the original recording of this presentation. It was great to hear Les’ voice and was amazing how two and a half years ago we began the CFW series. In the morning we will be discussing the foundational conversation of the two determinate paradigms. This is critical to understand before any strategy is mentioned because no amount of saving, discipline, luck, return or money will make any difference if someone is not in the Producer Paradigm.

As we go throughout the afternoon there is some crowd involvement to show the importance of free enterprise and exchange. We then dispel many of the myths that communistic financial planning promotes.

I always enjoy these events. Each one is different, but we consistently have amazing crowd interaction and participation. We have had people attend every symposium even though they make a seven figure income. It is almost like mental weightlifting–the more you do it and the more consistently you do it, the more powerful you become.

After the symposium we are then doing a Killing Sacred Cows book launch here in St. George. It is the same format as last week in Salt Lake: 100 dollars, five books, and a roundtable-type discussion with the authors. We will also give out a DVD that is a preview to the concepts in the book.

Well…..I was in a hotel, but did get my Producer Power Hour in today. I sent out some cards as part of my Social aspect. I read from “Getting in the Gap” by Dr. Wayne Dyer and meditated for both spiritual and mental. Today is my one day out of the week where I rest for physical–which I did with a great night’s sleep.

Once again, I look forward to today’s symposium and the unique experience each symposium brings. There are still two more symposiums being written to finish the series of 12. The two being written are “The Freedom FastTrack” (this is not the actual process, but it examines each pillar of Human Life Value in detail, plus we use a continuum to create specific ways to engage and increase each area of Human Life Value) and “The Producer Power Hour”. That means that we have already written and presented ten different symposiums. These happen monthly and will be video cast starting with the next symposium on July 27th called “The Rationale of Living an Unreasonably Abundant Life”!

Enjoy your day, and produce.

I wrote Killing Sacred Cows to train your mind and help you to cultivate the ability to see through the 10 myths that limit wealth creation. At the end of the book, I give a list of recommended readings that I feel will help accomplish this, and I’ve listed a few of those readings here that I highly recommend.

• As a Man Thinketh by James Allen
• Positive Imaging by Norman Vincent Peale
• The Master-Key to Riches by Napoleon Hill
• Think & Grow Rich by Napoleon Hill
• The Prosperity Paradigm by Steve D’Annunzio
• The Jackrabbit Factor by Leslie Householder
• The Richest Man Who Ever Lived by Steven K. Scott
• Rich Dad, Poor Dad by Robert Kiyosaki

Perspective Determines Action
Keep in mind that fear, doubt, and worry are mental viruses that originate from a scarcity paradigm, which itself arises from an ignorance of principles. Fear evaporates when we alter our perspective and begin to consider what other people want and how we can create value for them. Ironically, this shift in focus away from self results in the greatest personal rewards, both in terms of wealth and happiness.

photo credit: flickr