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How To Beat The Recession Part III: Make Your Own Weather

Introduction

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This article is the conclusion of a series based upon an article I recently read in the New York Times called “Upbeat On Cape Cod, Despite Recession”. Part I outlined my reasons for relocating to the Cape and introduced this article. Part II listed and explained the five traits that characterized the five entrepreneurs surveyed for the article and what made them a success. This article will wrap things up by comparing my experience with that provided by the article and explain why it is important to make your own weather especially during an economic recession.

Personal Experience
As explained in the introduction to this series I was a bit apprehensive to make the move to Cape Cod. Some had warned me about the possibility of depression as exposed by a recent Boston Globe article. Others had questioned my sanity about just starting a new business and moving from a bustling city like Boston to a quite place like Cape Cod, especially during the off season. Although there have been some challenges, as there are with any relocation, I have found the experience to be enjoyable, worthwhile, and advantageous – especially for a new entrepreneur.

As for the natives I have found many I have come into contact with as possessing the five attributes as listed in Part II of this series:

1. Resourceful
2. Hard working
3. Flexible
4. Service orientation
5. Self-employed

I found that prior to reading this article I was thinking about this very thing and how my contacts had embodies these tendencies. At that point only seeds of thought were planted, however the article prompted me to take a closer look and consider my environment. I would say that the full-time residents of Cape Cod embody the attributes listed above even before the economic recession, due mainly to their being required to do so because the nature of the economy here.

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Make Your Own Weather
Something important I had learned since moving to Cape Cod is that one must make their own weather, especially if self-employed. In fact, I would expand this requirement to all entrepreneurs in general, regardless of geographic location. My point is that it is more important to do so on Cape Cod given the changing nature of the local economy as previously described.

What does it mean to make your own weather? Making your own weather is likened to creating your own economy or luck. It means that regardless of the outside world that you will be okay, and better yet, do well. People who make their own weather are doing well despite the economic downturn. Where some see misery and distress, others see opportunity.

Case in point – Bruce Davis who is one of the entrepreneurs featured in the Times article. He purchased his so-called “e*Trade house” which was a “3-600-square-foot home that had been in foreclosure for $270,000” – discounted 40 percent since 2006. The ability of Bruce Davis to make his own weather afforded him an opportunity, in an environment that others viewed as a threat. Bruce made his own weather by constantly re-evaluating his business focus and adjusting when necessary to optimize profits, regardless of the economic climate.

How To Make Your Own Weather

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Wouldn’t it be nice to not be beholden to an employer? To not wonder if you were next in line for the promotion or the pink slip? To make your own hours? To “call your own shots” as described in the Times article? Making your own weather allows you to do each of these things – regardless of the economy.

So how does one do it? My personal advice is to first immerse yourself in the culture. By culture, I am referring to full-time risk-taking entrepreneurs. Those who put their income and livelihood on the line to pursue their dream. Part-timers won’t cut it. They generally speak in terms of someday something big will happen, while full-timers are making something big happen – by currently doing it.

So how does one immerse themselves in the entrepreneurial culture? My recommendation is to read as many books on the subject as possible – especially positive-thinking self-help books. Try The 4-Hour Workweek by Timothy Ferriss and The Magic of Thinking Big by David Joseph Schwartz. Another excellent book is Re-imagine by Tom Peters. Although it’s a little corporate – it has the right idea and can be just as readily applied to entrepreneurs and small business. The key point in this book is it gets you thinking in terms of discontinuous, or destructive change – a topic I will reserve for a future article. Surrounding yourself with like-mind individuals will get you in the entrepreneurial groove.

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