Hard economic times provide excellent strategic opportunities for entrepreneurs who are willing to buck conventional wisdom. 

Hundreds of successful entrepreneurs currently rely on Garrett B. Gunderson to help guide them on unconventional paths to business and personal success.  Here is what Garrett is currently advising his clients:

     1. Raise Salaries.
     2. Spend More.
     3. Meet Less.
     4. Stop Saving for Retirement.
     5. Put All Your Eggs in One Basket.
     6. Go Back to School.

1. Raise Salaries

When so many employers are reducing their workforces and cutting salaries, step up by showing your employees how much you value Human Capital and give them raises.  Employees, contrary to conventional accounting wisdom, are assets, not liabilities.

Savvy entrepreneurs recognize that each dollar invested in raising salaries during economic hardships leverages the loyalty and productivity of employees far more than handing out comparable raises during boom times. 

Now is the time you need to get the best out of your people.  Increasing their salaries demonstrates strength, vision, and importantly, gratitude for their contribution to your success.

2. Spend More 

Some great bargains are available now, for those who have the courage to nab them.  Many assets are undervalued and can be acquired at discounted prices, be they inventory, fresh hires, office supplies or even real estate for future expansion.

It is far more conducive to wealth creation to focus on increasing your production, rather than on slicing your expenses.

Spend where your money will have the most impact. 

3. Meet Less. 

Control freaks meet.  In good times, this inefficiency is easily glossed over.  But now is the time to empower your people, set clear expectations and boundaries, and then get out of their way.

Instead of sitting around in meetings talking to one another, encourage your employees to get out and improve contacts with customers and vendors.  Your team members can’t spot any market opportunities passing time in your company conference room.

4. Stop Saving for Retirement 

The best pension plan is simple: be successful.  Although qualified plans are sacred cows, you can’t afford to lock your money up in retirement plans now when liquidity is so essential. 

Ultimately, your business is a far better investment than a 401(k) anyway, especially since it can provide ongoing cash flow without the worry of depleting principal. Invest in yourself and in your business. By improving your liquidity, you’ll have cash to fund your enterprise and seize opportunities created by the economic dislocation of others.

5. Put All Your Eggs in One Basket 

Let others worship at the alter of diversification.  Now is the time to take a long, hard look at your business’s core reason for existing – its so-called Soul Purpose – and focus all your resources and energies on it.

Who are you?  Why do you exist?  Who do you serve?  What can you be the best in the world at?  Stay true to yourself in hard times and shed the excesses you’ve allowed yourself along the way.

6. Go Back to School 

Forget what you think you know about business, marketing and the economy.  The world is constantly changing and fortune-makers will use slow business periods to bolster their education and leadership skills. 

The most successful entrepreneurs I know are those who are constantly reading, attending seminars, engaging with mentors, and exposing themselves to new adventures and ideas.   This is even more imperative when the difference between those who weather the economic storm and those who don’t may well be the extra edge and contacts that continuing education provide. 

Conclusion 

While others are downsizing, cutting back, floundering, and desperately trying to diversify, you should be building your people, spending more money on the right things, thriving by being on the cutting edge through education, and maintaining laser focus on what you do best.  

How To Influence the External Economy With Internal Decisions 

Every expert in America agrees that our economy is under serious strain. We even hear speculation that the U.S. is headed for another Great Depression. The government bailout of Fannie Mae and Freddie Mac will cost taxpayers $5.3 trillion. The proposed $700 billion bailout of other notable financial firms is a Band-aid approach to a gaping-wound quandary.

So what is the long-term solution? Does the current crisis represent the end of

America as we know it? What can you do to contribute to a more secure and prosperous economy? Is it possible for you to prosper in economic downturns?

The first step to identifying solutions is to accurately diagnose the problem. While the reasons are diverse, our current predicament is the product of three primary factors, on three different levels: 1) the government manipulates the economy with the money supply, creating artificial demand and warping natural market forces, 2) corporations have been guided by shortsighted greed, and 3) average Americans consume more than they produce.

Since corporate behavior and government policy represent individual action, the only long-term solution to

America’s economic woes is for individuals to be the change they wish to see in the world; to focus more on their internal economy than on the external economy.

Internal v. External Economy 

The external economy represents everything outside of you: GDP, the Federal Reserve, international trade, supply and demand, manufacturing, etc. Your internal economy is the sum total of the value you offer to others minus the factors that limit your production. It is your human life value—your knowledge, skills, abilities, relationships, confidence, etc. It is what happens within you that determines your material and spiritual prosperity, or lack thereof.

Our pressing crisis hasn’t happened in a vacuum; it’s the result of a steady shift in culture, based on personal, internal decisions. We can blame the government and corporations all we want, but government agents and corporate executives are common Americans like you and I, doing common things. There’s little you and I can do to influence government policy during this crisis, but there’s an infinite number of things we can do to ensure security and prosperity regardless of what happens in the external economy.

Do you want to learn and grow, or complain and wallow in the misery? If you choose the former, then it’s time to grow your internal economy. But how, exactly, is this done? Your personal economy will be strengthened and vitalized by living the following five principles:

1. Entitlement is the enemy of prosperity. 

Stop waiting for someone else to solve your problems and give you economic security. Contrary to New Deal lies and cradle-to-the-grave propaganda the only things you’re entitled to are life, liberty, private property, and the pursuit of happiness. The government owes you nothing but the protection of your unalienable rights. Corporations can give and take benefits as they please.

Your suffering during hard economic times will be directly proportionate to the degree to which you feel entitled to “security” and benefits from any person or institution. You’re entitled to the fruits of your own labor and ingenuity—nothing more or less. Don’t abdicate your responsibility to prosper to funds that you don’t understand, investments that you can’t control and that are not collateralized, and managers that you don’t know. Take full responsibility for your money and your life.    

2. Produce more than you consume. 

The average American—while complaining about the federal budget deficit—spends more than $1.20 for every dollar that he earns. Contrary to the crippling myth that “consumer spending drives the economy,” production drives the economy. Production—creating value for others in a way that they compensate you for it—is what gives any individual or entity the ability to consume.

You can’t control government spending. But you can control your own. Spend less than you earn. Never, ever borrow to consume. Pay off consumer debt as fast as you are able. Cut up your credit cards if that’s what it takes. Increase your production through education, better marketing, a career change, etc. Save and invest ten percent of your income. Do whatever it takes to ensure that your home economy produces more than it consumes; this is the best way to fight inflation.

3. Value creation comes before desire fulfillment. 

Who has more money—you, or other people? Obviously, other people. How can you get others to give you money? By providing something to them that they value more than their money. Greed and selfishness are at the basis of so many of our current problems. The wise understand that they can only get what they want by first focusing on what other people want; they are still self-interested, but they are not selfish.

What do you have to offer that other people want? What suffering exists in the world that you have the ability to alleviate? What do other people need and how can you provide it efficiently? Dollars follow value—creating value for others is the only legitimate way to meet your own needs.

4. Integrity is worth its weight in gold. 

Corporate executives are being caught in lies like flies to honey. But what about you? Are you going to unfairly take advantage of others in the name of “Everyone else is doing it?” Or will you take the road less traveled and be a person of your word, a person who others can trust in and rely upon? Does your private life reflect your core values?

When times are hard, people look for stability. Integrity provides stability of character, drawing others toward you. Integrity alone is a magnetic marketing tool and will boost your ability to influence and serve others, and therefore profit in spite of crises.

5. Find and live your Soul Purpose. 

Soul Purpose is your unique set of talents, abilities, values, and passions applied productively and effectively, making tremendous impact upon the world and bringing the highest levels of joy and fulfillment to you and everyone you touch.

You were born for something wonderful. Are you doing it? Do you love to get up every morning? Are you energized by your career? Does it continually stretch you to achieve your fullest potential? Are is it time for you to choose something different?

Prosperity is much more than dollars, investment accounts, and toys; it’s the internal joy that you experience by applying your best work to pressing problems. Soul Purpose is the best long-term investment.Find what you were born to do and do it—your prosperity will increase exponentially.  

The problems we face are big—which means that there’s now more opportunity than ever to create value by alleviating suffering. Big problems require bigger solutions, and bigger solutions pay bigger dividends. The positive side of the financial meltdown is increased awareness; there is now enough pain for us to course-correct and overcome the economic myths of the last century.

The solution isn’t to elect new leaders any more than changing drivers on a broken car makes the car run better. The solution is for common Americans to reform the economy from the inside out by eliminating the entitlement mentality, producing more than we consume, creating value for others, developing impeccable integrity, and living Soul Purpose. If you don’t know what to invest in—especially during hard economic times—your best bet is to invest in yourself through education. After all, the external economy is nothing but a reflection of the aggregate of internal economies.  

Why do we follow people? When do we lead? What makes us excited to pick up one phone call, but ignore another? How do we overcome adversity? How do you remain happy in the face of difficulty? What do you do to overcome fear? How do you live with passion and purpose? What is freedom? What commonalities are there in the perception of value from person to person? What constitutes value?

The power is not necessarily in one answer to these questions. The power is in people asking these questions and finding their own answer. Fortunately we have the opportunity to learn and make our own determinations. Power grows as we make choices in critical moments. As we choose abundantly, take action, or learn from experience we grow.

One of the best ways to influence is to live in integrity. To do what you say, and here is the key, when you say you are going to do it. This builds trust and is a great platform for value creation/exchange. As you make powerful choices, learn lessons or take massive action, there is a great opportunity to share and become an influencer. Everyone is capable, but few make the choice. Some people influence through being vocal and others through pure example. Ultimatley, influencers help people to recognize greatness and live more of their potential. They are a catalyst for action. We are always influencing through our words and actions. What is your life about? What do you want your legacy to be? What message are you conveying?

One of the most popular vehicles in so-called investing is the 401 (K). Many people contribute to it, but few of those benefit or will ever benefit. So here is some of the features when digging a bit deeper.
1-It is only tax deferral or even more accurately, income deferral.
2-Do you really want to be in a lower tax bracket in the future, if not, then why defer the inevitable with the tax on your 401 (k).
3- The Goverment can change the rules and has.
4- An exise tax called the Sundry tax was initiated in the 90’s for those that had “too much money” in their 401 (K).
5- Limited investment options.
6- When can you access the money?
7- Does it have anything to do with or does it enhance your Soul Purpose?
8- How does a partnership sound that goes like this: You put in the money, figure out how to make the investment work, if you want out there will be a penalty, and the amount you get to keep depens on your partners economic circumstance? This partner is the government.

Just because it is popular doesn’t make it your best choice.

Life is about cycles. There are rhythms where there is massive production and other situations where multiple difficulties or obstacles come about. Last week I slept very few hours, yet was able to mentally engage with energy each day. On Friday there was a symposium where in the past I would have had a hard time even finishing, yet there were comments on the level of energy that I presented.

When cycles are going your way and you are in your rhythm, take full advantage of it. When it is a down cycle, learn the lesson presented and engage the power of your mind to alter your energy. Life isn’t always about things going your way, but you have the power to choose what you will do in the next moment. It isn’t always the easiest thing, but it will bring the most happiness. Which cycle are you in? How long will you stay there? It is up to you.

There are plenty of times in my life when I know what is best for me, but my actions have not been consistent with doing what is best for me. The best example I can think of would be with eating and exercise. I know what is fully healthy and that exercise is beneficial, but when I do not have space created to workout that I have committed to in advance or a trainer that I have scheduled to meet, my results are limited at best.

It is also interesting that many financial professionals don’t have a mentor or advisor because they know what to do, but many times they do not implement in their own lives. For me, I have had to look into areas of my life that are not ideal and I have created accountability. I have a manager, Brandon Allen, that sees that the ideas I have come to fruition, a trainer, a cook, a Board of Directors, an analysts for investing in several areas, a spiritual mentor, etc.

For me this allows my philosophy to be consistent with my actions, even when I don’t feel like it. This week I started a new physical training program. The night before it started my son stayed up most of the nght and kept me up. I had such limited sleep that I surely would have skipped working out if I didn’t have the accountabilty with this training program. The next night my son was sick and vomiting, therefore I was even more sleep deprived, but I made the workout due to the structure of accountabilty. In the workout, I am pushed to work harder than on my own.

Tonight Roberto Monaco, a mentor of mine, will be leading the Hour of Power. He has shared the importance of having a mentor, as has Ron Zeller, and so many of the powerful people in my life. You can attend tonight by registering at Producer Power Hour.com and if you are reading this after December 5th, then you can look into the upcoming Power Hour events.

Where do you lack accountability? Where would you like to exceed current performance? How do you plan on creating that accountability and performance- my suggestion, MENTORS.

From Thanksgiving until last Friday I took some time to focus on rejuvination and family. That was one type of retreat. But the other retreat that I am talking about has to do with business. I spent Friday leading all team members, advisors, and managers in coordinated vision and immediate direction. It is essential to take days to engage in philosophy and building foundational platform for production and where people are empowered though education and commitmented action. It provides the opportunity for the group to contribute by brainstorming and designing the maximum delivery of value to the maximum number of people.

Marketing was one of the most highly talked about areas of the retreat. It came about as we talked about contribution and impact. It wouldn’t just be a small impact, but a transformational impact leading to greater health, wealth and happiness.

I did another retreat with The Accredited Network on Monday. It was a room filled with power and is exciting to see people that have such expertise come together in principle and seek to leave a mark that leaves the world unrecognizable. The Accredited Network comes together in a common philosophy and principle in a financial world where that has been seeming impossible. Most advisors, experts, and mentors disagree on philosphy and therefore techniques and strategies are inconsistent and contrary to maximum production for the client. With the Network, there is more than just the common philosophy, there is expertise to implement strategies, techniques, and all forms of implementation. This takes it beyond mere philosophy and brings forth production. Taking all of this into consideration and then add mentoring and accountability with the Board of Directors, Executive Team, and any mentor with the FastTrack programs and there is a true formula for success.

It was critical to come together and confirm our mission, expand possibilities, unlock ideas, and unite in purpose. These days where there are no checks written, make all the difference for all checks to be written in the future. It is one of the most important functions of a business to buy-in on the vision, create the plan to implement, and move forward with full power.

Moving forward this week there are two great events coming up. Roberto Monaco, top influence coach, is the guest for the Hour of Power on Wednesday night at 6:30pm MST. You can join at 9890 South 300 West Sandy, Utah in person or via videocast at ProducerPowerHour.com. Roberto will be talking about being a master of the mental realm.
On Friday, there will be a symposium called The Mirror. It is about cultivating Human Life Value in order to have the property value and resources reflect your potential. It is really a course in the philosophy behind the Freedom FastTrack. It was actually the blueprint for many of the most valueable tools and philosphies in Financial FastTrack today. You can register at Freedom FastTrack.com

I had a conversation yesterday, where someone that I usually feel inspired by their energy and assured by their perspective, that exposed the thinking of so many people right now. Times have changed in the last quarter with the lending market, real estate, and many in business. Wth this change comes the voices of naysayers and those that have lived in fear and envy for so long. Now we hear from these people as they say things like “I told you that wouldn’t work, it was just a matter of time, etc”.

In actuality one of the best things that has happened to so many people is this difficult time. Many wouldn’t choose it, but it separates those that talk the talk from those willing to walk the walk even when the road has bumps. I want to declare my commitment to producing value. I also commit to choose abundance even in the face of seeming scarcity. I recognize that there are unfulfilled expectations and disappointment. There may even be legitimite situations of lack of integrity, consumption beyond production, and especially lack of communication. Each situation brings its own story in some ways, but unfortunatly the myths and misinformation become formed with speculation and social agreement through fear based gossip.

For those that are having scarcity type of thoughts, I recommend you look internally, ask yourself what choice you can make in the moment and pay attention to your conversations. Are the conversations about creating value or complaining? Are they productive or really just t villify? When things go wrong, there is a cycle that begins by those that talk about what is wrong. Even in difficult times, there is always a choice in the moment. There is still Human Life Value and Soul Purpose. Some of the best things I have learned in life or the greatest breakthroughs happened when times or things were tough.

I have had some things happen in real estate, in business partnerships, and with my businesses this last month that I would not have expected, chosen, or necessarily wanted. But what I have found is that when these things happen I am given a choice in the moment. It is through these choices that I gain power and perspective. Even in the moment when it isn’t preferred, it many times is the very fuel of production and breakthrough. I even see it as a gift. When I am thankful for the events and experiences in my life, I maintain a life of abundance. To share something very personal, I have been writing a reality statement each week to grow during these times and continue to love my life:
Thank you for the blessing of this day, the perfection of this moment, the sacredness of this life. Allow me to see and live abundance. To express love. To choose wisely. Thank you for the gifts of experience, the perspective of Soul Purpose, and the enlightened life. Allow me to recognize the Godself and feed this abundance with attention and energy. When I am aware of my limitation I say- Remeber God, Choose Love, and Create Value. This transcends any fear, doubt, or worry. Love, Happiness, faith, and poweris who I am. I am a vehicle of your love. AMEN

So, today I woke up tired, but I created the space for amazing production, therefore I will produce. The principles apply in good times and bad. It is the bad times that allow us to learn and align. Where are you and what are you committed to? I am committed to my Soul Purpose and creating value, regardless of circumstance.

On Friday I presented a brand new syposium on The Producer Revoltuion. The new membership is launching on Oct. 3 called the Producer Power Hour. The Producer Power Hour is the way live the Producer Revolution. There are the five tracks of Human Life Value (the qualities and characteristics we possess as human beings) are Financial, Social, Mental, Physical, and Spiritual. Each morning a commitment to develop these tracks is implemented through the Producer Power Hour. We worked together in the symposium to create activities in each track. The Engenuity advisors led mastermind groups to further develop strategies, techniques, and ideas so each person could leave with a full Producer Power Hour. This was very interactive and productive. People left with a system for success.

On another note, I spent 6 hours working in my journal this weekend. I listed the many projects that I have going like: Product Creation, Audio/Video Edits, Foundations Licensing, Company Reporting, Media, Mental FastTrack, Quarterly Quantuums, Book Marketing, Upcoming Books, Event Marketing, Radio, Membership, Personal Assistant Systems, Writing, Economics of Soul Purpose, FFT Licensing, Spiritual FastTrack Retreat, The Accredited Network, Web-sites, Engenuiy, RE Portfolio, 2nd Floor of Building, Accounting, Mission Driven Forum, and Strategic CFO. It was valuable to organize my thoughts and brainstorm. With as many businesses and projects that I have going on, it is critical to identify what is to be accomplished so I can create by who and by when with each item. The more I can simplify what there is to do, the more we can accomplish due to understanding.

One thing I have noticed is that as there is any confusion or feelings of being overwhelmed in my busniess is that it passes to my life. I have an amazing team around me and so I know that the brain makes things always seem worse or more complex than reality. Just by listing everything, brainstorming, and identifying what there is to be done, I feel more confident. Another critical factor is to have deadlines and reporting so I can feel the progress and offer any guidance.

Last week was exciting with a few new articles I wrote being featured in publications. I will be doing some speaking this week in San Diego and also speaking and doing book signing at Southern Utah University. Then, I am sponsoring the Goo Goo Dolls concert on Friday for Southern Utah’s Homecoming. Life is busy, but exciting and fun.

Ron Zeller and I met at his house in Sundance yesterday. It wasn’t long before we were hiking up above the waterfall. This was a great way to have a conversation and get a workout at the same time. The weather was perfect and the view tremendous. Surrounded by nature and an inner sense of peace, there is clarity and creation in such a space.

On our hike I was explaining to Ron, my business partner in Mental FastTrack, the different branches of my business. Really there is the Freedom FastTrack, The Accredited Network, and The Producer Power Hour. Now within those companies are several divisions and subsidiaries.

In the The Accredited Network I have ownership in several companies and revenue agreements with others. Freedom FastTrack has Financial, Spiritual, Mental, Physical and Social tracks. Producer Power Hour has content creation like books, videos, newsletters and various products. When it comes down to it, I have around 30 LLC’s or S-Corps, but all aligned with one purpose- empowering people with education in principles and helping them recognize potential so they can turn it into production.

With radio, speaking, and products, I am able to reach a large number of people and my intention is to create value in a massive way that leads to transformation. For those that I never meet, I want to give enough quality through products and broadcasts that a difference can be made, but if they go through any of the programs the goal is a transformational experience.

There is several ways to reach people and make a difference, but what I realize is that on the right platform you can attract the right people and impact millions. I am in the business of creating opportunity for individuals that work with me. The growth is rapid with this philosophy and the vision of individuals, families, communities and nations understanding and following principles of abundance allowing them to live the greatest life imaginable- namely happiness through spiritual and material prosperity.