Lessons from the GFC - Personal and Professional

As we draw to the end of a year many of us will either not forget, or alternatively, want to forget, I thought it useful to articulate some insights and lessons both personally and professionally. I have been very privileged to work with some fantastic clients and colleagues who have shared the journey with me as they have undertaken their own personal transitions and am grateful to all of them for their support, guidance, confidence and feedback.

2009 was the year that the GFC was real - and at some times there - real scary. When confidence was at a low ebb and decision making frozen, how many of us thought this was Armageddon? How many of us had the belief and confidence that this time would pass too - we just didn't know when!

So, what were my lessons? The following is my 10 point quick summary:

1. We should always resort to our underlying values - conflict and stress are more likely to arise when these are compromised or conflicted. 
2. Relationships - family, friends, colleagues, clients - are paramount.  These sustain us through good times and bad. (And even help with the bank manager when times are tough.... :-))
3. Money and net financial worth are only relative measures of value - and don't mean as much as health, relationships and sustainable sources of happiness when it really counts.
4. Health - mental and physical - including aspects such as resilience, happiness etc - are more important than anything else.  A significant health event, as I have witnessed with a number of my close friends this year, changes the priorities big time and I have admired the stoicism of these people through periods of adversity.
5. There is always someone worse off - and our charities have done it hard with significant increases in demand for their services whilst there has been a significant drop in corporate donations and investment income.
6. Technology is changing the world - quickly. Social networking sites such as Facebook, LinkedIn and Twitter and hardware such as iPhones, Smartphones and netbooks with digital cameras are allowing everyone to be a commentator and journalist - and this material is there FOREVER - presenting our "Personal Brand" to the world.  BUT - technology is ancillary to real personal relationships - its difficult to have a coffee or drink with a computer!
7. We need to consciously understand what our Personal Brand is - and what we would like it to be.  It is possible to reinvent - quickly - at low cost with focus and smart personal marketing, including clever use of technology.  A resume is only a summary of our achievements to date  - BUT may give no indication of what we would like to be in the future.
8. Networking and personal referrals are still the best sources of jobs and business.  No matter what one's resume or website says, people still want to employ or do business with people they trust and like. 
9. Technical skills are just a foundation.  We also need to understand ourselves and others - people skills, emotional intelligence, leadership are becoming more critical.
10. Despite all the challenges, we still need to have FUN!  Humour, laughter and frivolity are great stress reduction tools no matter what the external circumstances.

Best wishes to everyone for 2010 - which is hopefully going to be better than 2009.  However,on reflection, 2009 was just another year in the rich fabric of our lives - certainly one to remember and talk about.

PB

Copyright: Peter Black 2009