Life Changing Events in May

Are you a Leader, Entrepreneur or dealing with change in these tough economic conditions?

We are delivering three life changing evening workshops on the 18th, 19th and 20th May to hone your soft skills - vital in these difficult times.

Click on the appropriate link for more info and to reserve online - places are limited so do book early to avoid disappointment.

18 May - Leadership Brand
19 May - Entrepreneurial Brand
20 May - Vital Transitions

And feel free to contact me if you have any questions or queries: louise@mowbraybydesign.com

What do Microsoft, Dyson and HP have in common?

Is this the right time to start a new business? We are expecting the largest reduction in GDP since 1946 in the next 12 months - and unemployment levels are set to rise to over 3.25 million by the end of 2010.

And interesting to note that Bill Gates founded Microsoft in the recession of 1975, James Dyson launched his vacuum company in the early 90’s and Hewlett-Packard emerged out of a garage at the end of the Great Depression. According to Ernst & Young’s ITEM Club, the recession may well be the catalyst for the next generation of UK entrepreneurs.

The current situation may well fuel an increase in entrepreneurial activity, which will undoubtedly play an increasingly important part in re-energising the economy. On the other hand, investors are cautious and unless the people driving the ideas are creative and persistent, they may not find the funding they need. Low start up costs, quick routes to market and a high perceived value are vital for customers and investors alike. But without charasmatic, passionate people with strong personal brands leading the way, it will be tough, very tough.

Job Losses

Whilst trying to get a feel for the numbers of job losses à la crunch I stumbled across an article in the Telegraph by Jamie Dunkley on the 2nd February titled Financial Crisis: Job Losses. It's worth a read as he diligently lists the 83,368 job losses in the four months prior (UK). And according to an influential report from the Chartered Institute of Personnel and Development due to be published tomorrow, it seems that two out of five employers plan redundancies in the next three months.

This all begs a key question - what criteria will those who decide the fate of this soon to be unemployed workforce use to make their decisions? The obvious - closure of unprofitable business units will see unnecessary, un-transferable skills and expertise go first. The fat will be cut and under performing individuals will be next on the list. Plans for growth and expansion will be shelved for the time being and with it the associated headcount. And then the difficult bit. The bit that is based on how people are perceived vs. any of the above.

I was consulting with a client who was employed by one of the financial giants that lost its footing recently. He and a number of his team were subsequently reemployed by the organisation that bought out selected business units. He described the agonising process of picking the few who would stay. The cut was 30 out of an original team of 100. The under performers and skills mismatch were a no brainer, which left him with 60. Losing the remaining 30 was difficult to say the least. All qualified, experienced, skilled - all technically right for the roles.

It eventually boiled down to perceived soft skills and relationships. Now we all know that perception is reality. Or I should say, perception is a form of reality. It can be demonstrably false, and all too often it is. Those with the perceived soft skill smarts stayed, and those without, left.

There could not be a more urgent need for all of us to take a good look at the impressions we are creating in the minds of those who can and may affect our success in the future. And I am talking all areas that have an influence - our bosses, clients, investors, employees, suppliers, business partners, colleagues. Its not rocket science, its not complicated - but it does need attention, soonest.

At times like these, extraordinary times, some settle into an inertia born of a perceived lack of control over their destinies. And others reach determinedly for the next rung. They both take the same amount of energy with very different outcomes.

Learn how: Personal Branding - The Competitive Edge

Financial Crisis explained...

Adversity and wry humour are never far apart....

CEO - Chief Embezzlement Officer

CFO - Corporate Fraud Officer.

BULL MARKET - A random market movement causing an investor to mistake him/her self for some kind of financial genius.

BEAR MARKET - a 6 to 18 month period when the kids get no allowance, the wife gets no jewellery, and the husband gets no sex.

VALUE INVESTING - The art of buying low and selling lower.

P/E RATIO - The percentage of investors wetting their pants as the market keeps crashing.

BROKER - What my broker has made me.

STANDARD & POOR - Your life in a nutshell.

STOCK ANALYST - Idiot who just downgraded your stock.

STOCK SPLIT - When your ex-wife and her lawyer split your assets equally between themselves.

FINANCIAL PLANNER - A guy whose phone has been disconnected.

MARKET CORRECTION - The day after you buy stocks.

CASH FLOW - The movement your money makes as it disappears down the toilet.

YAHOO - What you yell after selling it to some poor sucker for $240 per share.

WINDOWS - What you jump out of when you're the sucker who bought Yahoo @ $240 per share.

INSTITUTIONAL INVESTOR - Past year investor who's now locked up in a nuthouse.

PROFIT - An archaic word no longer in use.

Credit crunch fallout

This week, the world as we know it changed forever. Well, at least for the foreseeable future. The inevitable fallout from the credit crunch happened. Shockingly, it was all concentrated into one brutal week. The bastions of unshakable establishment on Wall Street and in the City of London crumbled. Lehman, Merrill Lynch, AIG, HBOS. Bank failures, rescue takeovers, government bailouts all came thick and fast. Massive, intense, relentless.

And the markets roared into life yesterday and bounced - a hugely energetic bouncy bounce that reverberated around the world. Shanghai gained 9.5 per cent, Hong Kong’s Hang Seng 9.6 per cent, the FTSE 100 had its biggest daily gain in its 24-year history with 8.8 per cent and the S&P 500 closed up 4.0 per cent, having risen 4.3 per cent on Thursday. And the surges in London and the US were partially fuelled by a ban on short-selling announced on Thursday night.

With friends and clients describing their week as hellacious, many feel they have literally been to hell and back. Most feel that there is more to come. No one seems terribly sure about anything. The markets may be closed for the weekend, but the floors and desks and corridors are occupied as exposures are calculated and able minds grapple to find a way forward in unchartered terrain.

Job Cuts

This week I was invited to join a panel on BBC Radio Five Live to discuss when those in business, politics and sports should resign. With so much uncertainty in the markets and a frightening number of job cuts reported and predicted, the need for a strong personal brand couldn't be more stark.

And it seems fairly obvious that when people should go is a timing issue. Either an unanticipated disaster has occurred as in the case of Terminal 5, or we want to pre-empt a possible disaster as in the case of Mr Brown. And one can argue that Mr Walsh's management style prevented those who thought that a disaster might occur from raising the issue - and their heads did roll. And the latter, well, we are predicting a rather difficult coming week for the British Prime Minister.

Yet more often than not it is worth seeing a possible disaster through to completion for the greater good of the organisation. In the not too distant past, the constant change of leadership had deeply negative effect on the Conservative Party, leaving voters reluctant to commit.

And it is at times like this when that we see people's personal brands having a profound effect on their futures. We are prepared to weather the storm with those that we can connect to emotionally.