The world is certainly in a turmoil these days around the economy.   I work with a woman who has been in a huge fear and panic state as her life savings disappeared. She is barely coping while other people who are upset, seem to be coping more easily.

Another friend has breathed a sigh of relief that she has escaped losing her money.

For many, the loss of money can feel like a loss of identity, self-esteem, and confidence. In these cases it isn’t always the money itself but  it’s what it stands for. It means success and the right to stand tall and fit in.  Or it can mean security, safety or a myriad of other things.

Julia, a 72 year old woman, lost all of her money and her home twelve years ago when her business went bankrupt.  The very next year her husband died and she had to decide what to do. She said,  “There I was suddenly on my own at age 62 with no money, no savings, no resources and no health insurance.  We were hoping to sell our business in a year or two and then retire comfortably and travel to places we’d never been. It was a shock.  I was embarrassed, ashamed and went into a depression – and then I realized I still had choices.”

She realized that if she didn’t do something for herself no one else would. She ended up becoming a distributor for a health products company where she used her entrepreneurial skills to build a successful small business. In the process she reinvented herself. She’s still going strong.

When facing a crisis like this, what makes some people like Julia, wake up to their inner resources while others  just want to give up, unable to cope?

Here are five character traits that seem to be present in people who are able to begin a new venture against all odds. Everyone is born with these qualities but some people have to re-awaken and re-learn them.

1. Mental clarity.  Being able to think through choices and options with intelligence and have the cognitive ability to actually lay out a plan and strategies to achieve.

2. Positive Attitude. Believing you can do it will help you to move mountains and will allow you to see opportunities that you might miss otherwise.

3. Creativity. The ability to see possibilities out of thin air.  Being able to see a sculpture out of a pile of scrap metal and see how to recreate your life into what you want it to be.

4. Support group. The importance of bringing together a mastermind group for yourself. Surround yourself with people who will cheer you on and give you good feedback.

5. Commitment. The absolute decision to not give up and not quit. Instead, it’s about learning how to overcome obstacles as you stay focused on where you are going.

Whether or not you are facing a crisis these are excellent tools for success in any venture.  Maybe you have some others you can add to my list. I would also like to hear from anyone who has survived and began a new business against all odds.

Do you have a full time business, a part time business or a hobby?   This question was raised in my seminar this week and prompted an interesting discussion about choices. Just like the colors in the picture, it has to do with what you want to create for yourself.  It’s all about your intentions. If you intend for your business to be a full time that means that you’ll put out full time energy and your business is your main focus.  Part time business usually means that it’s something you do on the side. Your intention is to keep the business small so your goals will reflect this.  People often have part time businesses that are not their main income stream.  Part time businesses can also change to full time.

example:

John had a full time job as an engineer with a good income but he wanted to get into real estate so he’d have some extra income when he retired in a few years. He ended up having  six or eight deals the first year and he earned an extra $50,000 that year from just working a few hours on the weekends.  After a couple years, when he realized the potential, he decided to make this full time. He quit his job and began to focus full time on his real estate business.

Some people just have a hobby. Their intention is to have fun, help people or be creative.  Money is not important.  They might make some money from their hobby but that’s a side benefit rather than the main  focus.

I have two clients who are both doing their business part time while raising small children. Being with their kids is their main focus and they both see themselves growing the business into a full time venture as their children grow up.

Whether you choose to do your buisness full time or part time there are some important things to remember that will support your success:

1. Be consistent.  Be clear how many hours a week you plan to work and stick to a schedule.

2. Develop goals that reflect the growth you want to accomplish.

3. Give excellent customer service. Whether you have one client or one hundred, it’s important to do what you say you are going to do and give the best service possible.

If you have a hobby, enjoy yourself and the freedom to do what you want to do when you want to do it!   What kind of business do you have and do you struggle with this issue?

I am still pondering want I want to accomplish via Twitter. Not everyone wants to get Tweets all day from someone about what they are doing every hour. I’m like that. It is just too much input. I would prefer a quality Tweet once per day at the most or a few times per week.  At the beginning I un-followed people ruthlessly if they sent too much stuff everyday.  Now I am learning to scan through the chatter for the gems.

Here is something way cool that just happened today.  I get Google alerts. Today I  got an alert that  showed this website by Courvo, a voice over actor who I never heard of. I checked out his website and this is what I found: This article, written by Kaya Singer, seems to be everywhere on the internet, so by virtue of the sheer force of web opinion, I’ll point you to it….HERE.

Well- I was impressed that someone I never met is telling people about my article. There was a Twi tter link so I thought, well why not! So I began to follow him and then I put out a Tweet telling about his website. Within two hours he is now following me.  I can’t tell you how this all works so quickly and it doesn’t work in any sort of linear way. I can’t make it all logical but it works!

Here are some benefits I have found for business and marketing that have already made Twitter worthwhile.

1.  In between the chatter I have found new applications that people are using. Learned about ecamm.com (audio and video conferencing tool)  from Leif Hansen.

2. Found interesting people’s blogs. Got a link to Paulo Coelho’s blog. I love his books so this was fun. I am now following him for awhile.

3.  I get links to people’s blogs where I can go easily and add my comments.  This brings new people to my website.

For a good overview of the benefits of Twitter check out Joe Hage’s article on Twitter experiment.

I invite anyone to follow me. I am still learning but I promise you won’t be bombarded with Tweets all day long!

What benefits have you found on Twitter?