about who or what caused this terrible economy. For a lot of folks out there, that seems to be their number one choice; to talk about it. Talking about it might make you feel better (misery does love company) but unfortunately, I don't think talking about it is going to make it any better. So, here is what I am doing about it.

First off, I needed to "Realize" exactly where I was. I needed to clearly understand just how much money was gone and how much was left. The second thing I did was "Rationalize" my current situation. I track my finances pretty closely, so I was able to identify at what point in my past my net worth was equal to what my current net worth is. At that point in my life, things were fine, I felt secure and was totally comfortable with my situation. The third thing to do is "Economize;" simply be frugal, reduce expenditures and avoid all waste and extravagance. I then needed to remind myself that it was time to "Capitalize" on all the opportunities that were available in a down market. So many things right now are less expensive (cars, homes, electronics, clothes, etc.) and if your credit is still good, you can even refinance your home at an incredible rate. I then had to "Formalize" a new plan of attack. I knew I was going to have to work smarter if I was going to survive, maintain or succeed in this down marketplace. I took a look at everything I had been doing and decided to utilize some extra time to finish my new book and spend money to upgrade my website, collateral material and all forms of contact I have with my clients.

Now I am approaching the point to "Actualize," to bring forth, to accomplish, to produce results from all the "IZE's". I had a mentor years ago who once said to me, "Robert, don't complain to me about working harder. Show me that you are working smarter. A person digging a ditch is working hard, but they are not making much money. If you will combine your harder with smarter, then will I be satisfied.”

So, Realize, Rationalize, Economize, Capitalize, Formulize, and Actualize.

That is what "IZE" be doing.


Rob Stevenson will be the keynote speaker at ASBA’s Technical Meeting in Ponte Vedra Beach, Florida. He will be speaking on “How the Best Get Better” on December 5, 2010.