I dont know about you but I am sick and tired about hearing and reading about how the world in which we live in is such a terrible place. Yes, it is far from ideal but does turning on the television, radio or picking up a newspaper only to hear of recession, poverty and strife really help us?
I for one, suspect it doesnt and whilst I am not suggesting you should bury your head in the marketing sand and assume everything is rosy and perfect in the world, I am suggesting that if you approach 2008 and beyond with the right attitude and mindset your chances of success will increase. And so with it will the chances of you and your customers being more successful.
The truth is many of your competitors and your customers are worried about what the New Year and the future holds for their businesses and livelihoods. There is nothing wrong with being concerned about a possible worldwide recession, falling house prices and rising interest rates to name a few things but likewise there will also be great opportunities for companies to flourish even in the hardest of times. In fact, I would argue that it is in the times of hardship that companies with the skills to out market their competitors will really see the greatest benefits.
What is your self-image? How do you see yourself? When you look in the mirror, do you see a salesman, a wife, a worker, a leader, or a sucker? How would you describe yourself? Only you can decide how you wish to perceive yourself. This self-image has a lot to do with how you handle adversity. When you have a big vision and exciting plans, it’s a lot easier to boldly go where few have dared. However, when your objective is mere financial survival, keeping your job and toeing the line, every little bump in the road seems like a major setback.
Albert Einstein said, “Great spirits encounter violent opposition from mediocre people.” Do you see yourself as a great spirit? How motivated are you to make your dreams come true? Thomas Edison said, “I am not discouraged, because every wrong attempt discarded is another step forward.” Conformists and cowards are always ready to quit. They turn tail at the first sign of discomfort. In addition, they always blame someone else. They flit from one fad to another and never achieve anything of significance in their lives.
Have you ever seen an apricot on an apple tree? Or a banana hanging from an orange tree? I can sit in my garage all day long, drink gasoline and make car noises, but that doesn’t make me a car. If it meows, it’s probably not an eagle. Most entrepreneurs are so focused on sales, profits, cash flow and time, that they don’t take the time to evaluate options and people objectively. The fact is, appearances are only appearances: smoke and mirrors. And the reason why we should be aware of who people really are, is that we must carefully choose who we spend our time with.
Bob Harrison teaches us that “Birds of the feather flock together, and that flock is going someplace.” Whom are you flocking with, and where is your flock headed? He says that if you want big fleas, you have to hang with the bog dogs. Are you hanging with big dogs – big thinkers, or with losers? Your circle of friends and associates will largely determine your future level of success. Therefore, you have to be very careful whom you mix with. You can’t judge a book by its cover; you have to read it in order to judge it accurately. The people you bump into in a McDonald’s are different from those you meet at the Hyatt. Where do you spend your time?
The first good news of the year for readers at Resourcex Investor was the price of gold. The start of the year heralded all-time high prices for gold easily topping $900 per ounce, driven by the weak US dollar, high oil prices and renewed geopolitical concerns. Just a month later, gold continues to break all time highs, confidently striding toward the long anticipated $1,000 mark.
It seems the world now faces some of the most difficult economic conditions since the dotcom meltdown, a reality echoed by everyone from Alan Greenspan, who believes the likelihood of a US recession is 50/50, and that a global recession is at some point “inevitable.”
In early January, the Financial Times of London surveyed the opinions of 55 top economists from around the globe. “Nearly nine in 10 think public finances are not in good order,” the authors stated.
All this may sound like bad news – and to policymakers it may well be – but resource investors know that the effect of this trend on the gold price is only good news.
