Prospering in Today’s Economy

with Andy Andrews

“The times, they are a changing.”  Bob Dylan wrote those words more than a half century ago, but they are at least as accurate now as they were then.

“The answer, my friend, is blowing in the wind.”  That was Bob Dylan, too, at about the same time.  In today’s economy, that one is more true.

We are no longer a Western economy or even an American one.  We are truly connected to each other in a global way.  Meteorologists tell us that the wind blowing through the California Redwoods one day is the same wind blowing across the plains of Siberia the next.  So go on and get used to it.  Take a big, deep breath of Siberian air.  We are all in this together.

Lets go back a few years beyond Dylan.  Try this, from Hamlet… 

“To be, or not to be, that is the question:
Whether ‘tis nobler in the mind to suffer
The slings and arrows of outrageous fortune,
Or to take arms against a sea of troubles
And by opposing…end them.”

When situations change (as they always do), the rules are sometimes changed as well.  What was red one day might be green the next.  What was down is up, right is left, and we can become so discouraged and confused that we are tempted to simply lie down, cry, and resign ourselves to a lifetime of slings and arrows.

Truth, on the other hand, never changes.  Life’s principles remain steadfast in good times and bad.   Therefore, I am reminding all of us that now is not the time for fear or inaction…now is the time to “take arms against a sea of troubles and by opposing…end them.”

Yes, you will need to act.  But first…think.

Prospering in today’s economy will require an extraordinary examination of your personal commitment to “the truth” as it relates to your industry in general and your own business or job specifically.   In dealing with clients from many different backgrounds, I have noticed that quite often, we do not make decisions according to the truth.  Rather, we make decisions according to what we want to be the truth.  Or what we wish were the truth.  This is usually a recipe for disaster.

Remember the eleventh commandment:  Thou shalt not kid thyself.

Simply put, in today’s global economy, what is your value?  How much are you worth?  The question is worth the time you might take to get an accurate answer.  Most folks are subconsciously asking the questions “How much can I get?” or “What can I persuade someone to pay me?” or “How much can I charge?” or “How much do people like me traditionally make?”

The question that will lead you to the best decisions, however, is “What is my value to this situation, to this person, to this business?”

Know this:  the only people who will never fail—even in bad economic times—are the people who accurately discern their value or the value of their product and can prove that value to their customers.  Yes, sometimes value is a perception, but even perceived value can be agreed upon by millions of people at once.

As an author, speaker, and consultant, I am tasked with the dual responsibility of knowing the value of a specific product (a book) and of a service (a speaking engagement or a contract to consult).  To find the answers blowing in my financial wind, I need to be certain that I know the truth about my value in these areas.

Can a person pay the price of The Traveler’s Gift and after reading it, feel happy in the knowledge that he or she got their money’s worth?  Was the value there?  Was what they learned and were able to apply in their life and business worth twenty dollars?  If so, the books will continue to sell.

If a company pays a certain amount for me to speak or do a seminar or consult and they can track the production and profit that occurred after I spoke, does that benefit me or is it a harbinger of bleak times to come in my career?  Did they ultimately make more money with my information and direction than they paid me?  Was the value there?  If so, I will continue to be contracted for work.

In tough economic times, I suspect there are few corporations who can afford to have a speaker merely as entertainment or “because we’ve always had a speaker”.  Therefore, I must honestly ask the question, “What is my service worth?  Am I providing value well beyond cost?”

We want to provide value in all areas of our lives.  We should strive to provide value as a neighbor and friend, as a member of our church or civic organization, and to our families.  I want to provide value to you.  That is a primary motivation for me as I think, write, and communicate.

Obviously, I don’t know enough about your life’s situation to guide the specific questions you must ask in our current economic climate.  I only know that you must ask questions.  Seek the truth about yourself, your products, your service…  The quality of your answers can only be determined by the quality of your questions.  Do you want good answers in your life?  Ask good questions.

And start with this one…  How much am I worth?  

1 Comment

  1. Sheila Hansen

    “How much am I worth?” is a question I ask myself often and I get conflicting answers from myself. I am a full time teacher, but I have a side hustle in tutoring math. I have tutored children as young as 7 up to college students struggling with calculus. My mentor teacher always tells me I charge too little and that I am worth more than that, but my heart says that I don’t want to only cater to the rich who can afford tutors. I want my service to be available to all who are willing to seek me out and pay to better their child’s or their own future. I know people who charge upwards of $60 per hour. I can’t, in good conscience, charge that much. I charge $20 per session (sessions are never over an hour and 15 mins, but I like the flexibility on time). I have a waiting list of people who want me to tutor. That tells me that I do good work, because the only advertising I have is by word of mouth of my clients. The money side of it always makes me uncomfortable. Since I travel to my clients homes, I have considered raising my fee to $25 to help cover gas, but I always think, “Well my client has greater expenses during these times also, should I contribute to their greater expenses.” So…. How much AM I worth?

Submit a Comment