Stagflation
In economics, stagflation is the situation when both the inflation rate and theunemployment rate are persistently high. It is a difficult economic condition for a country, because when inflation and economic stagnation are occurring simultaneously, a policy dilemma results since actions that are meant to assist with fighting inflation might worsen economic stagnation and vice versa. Theportmanteau stagflation is generally attributed to British politician Iain Macleod, who used the term in a speech to Parliament in 1965.
The concept is notable partly because, in postwar macroeconomic theory, inflation and recession were regarded as mutually exclusive, and also because stagflation has generally proven to be difficult and, in human terms as well as budget deficits, very costly to eradicate once it starts.
In the political arena one measure of Stagflation termed the Misery Index (derived by the simple addition of the inflation rate to the unemployment rate) was used to swing Presidential elections in the United States in 1976 and 1980.
Source: Wikipedia
Do You Zoom?
What sets successful soloists apart? It's a thinking process I call zooming.
After working solo for more than two decades, I recently experienced an "a-ha" about what sets successful soloists apart. I believe it comes down to a single skill -- one that determines business success beyond all others. Is it the ability to sell? One's financial acumen? Surely it must be marketing, you say.
Actually, it's not a sales, marketing or financial skill, although those decidedly are key to creating and maintaining a profitable one-person venture. Rather, it's a meta-skill, part of a mindset that overarches both the activities and the attitudes of a successful soloist. This cognitive ability is a thinking process I call zooming.
Zooming implies several things. There's the appealing thrill of speed, of course -- just ask auto manufacturer Mazda, who has imprinted our brains with the audio brand of that young boy's voice whispering "Zoom, zoom, zoom..." But my notion of zooming embraces more than fast-paced action and response.
Zooming can also point to one's facility to adapt to change. In fact, entrepreneurial gadfly and change agent Seth Godin writes of "zoometry" and the knack to "embrace change without pain." Again, this flexibility is an indispensable talent for soloists -- but not as vital as my definition, I suspect.
Adopt the Power of a Google Map
My concept of zooming centers on the capacity to shift rapidly -- and repeatedly -- between a macro-view and a micro-view of one's business. Think of it as having the power of a Google map: in one instance you're at 30,000 feet, dealing with the long-range vision of your company; the next you're on ground level, addressing daily tasks and deadlines; then -- zoom! -- you're back at 30,000 feet again. This facility for blink-of-the-eye refocusing is crucial for soloists who are often faced with major decisions about the future of their company one minute, then turn and confront the puzzle of which toner cartridge to buy the next.
Reams have been written about the multiple hats that soloists must wear in running a successful one-person business: CEO, marketing director, customer relations, product development manager, IT specialist, janitor, and more. What's been missing, however, is acknowledgement that these hats often need to be slipped on and off in seconds, and repeatedly, throughout the day. Such demands can create an exceptionally stressful environment and diffuse the energy of even the most organized soloist.
Navigating the Zoom
Zooming doesn't need to be chaotic and relentless, however. Here are three ways to help build your zooming skills:
Recognize the reality.
As you craft your weekly, monthly or longer-term goals and projects, increase your awareness of the full range of decisions that will be placed upon you. Many times just increasing your sensitivity to the "height" of the decisions (e.g., ground level, 10,000 feet, 30,000 feet) helps clarify the process and reduces the stress level.
Play to your strengths.
Most soloists are stronger at one end of the zooming spectrum. In my years of advising soloists, I've seen many for whom allocating thousands of dollars for next year's marketing strategy is a piece of cake, while choosing a color for their Web site becomes a thorny problem. Make a frank assessment of your zooming strengths and weaknesses. Are you a big-picture person comfortable with 30,000-foot decisions? Or do you prefer to focus on micro-tasks? Recognize that successful zooming requires both -- and determine how best to enhance your weak side.
Cluster your decisions.
To augment your new-found awareness of zooming, try to cluster your decision making so that you are formulating judgments and choices of similar "heights" concurrently. For example, group ground-level tasks or 30,000-foot strategic decisions at different parts of the day, ideally at a time that coincides with the energy available to tackle them.
Although continually zooming from high-level to mundane decisions and back again may be both mentally and physically draining, the sense of accomplishment you'll feel from checking off both the miniscule and the titanic from your To-Do list can be invigorating. With practice, you'll be zooming as effortlessly as Google's servers allow us to switch between macro and micro landscapes -- and the map you'll be charting points the way to your solo business success.
Source: Terri Lonier
After working solo for more than two decades, I recently experienced an "a-ha" about what sets successful soloists apart. I believe it comes down to a single skill -- one that determines business success beyond all others. Is it the ability to sell? One's financial acumen? Surely it must be marketing, you say.
Actually, it's not a sales, marketing or financial skill, although those decidedly are key to creating and maintaining a profitable one-person venture. Rather, it's a meta-skill, part of a mindset that overarches both the activities and the attitudes of a successful soloist. This cognitive ability is a thinking process I call zooming.
Zooming implies several things. There's the appealing thrill of speed, of course -- just ask auto manufacturer Mazda, who has imprinted our brains with the audio brand of that young boy's voice whispering "Zoom, zoom, zoom..." But my notion of zooming embraces more than fast-paced action and response.
Zooming can also point to one's facility to adapt to change. In fact, entrepreneurial gadfly and change agent Seth Godin writes of "zoometry" and the knack to "embrace change without pain." Again, this flexibility is an indispensable talent for soloists -- but not as vital as my definition, I suspect.
Adopt the Power of a Google Map
My concept of zooming centers on the capacity to shift rapidly -- and repeatedly -- between a macro-view and a micro-view of one's business. Think of it as having the power of a Google map: in one instance you're at 30,000 feet, dealing with the long-range vision of your company; the next you're on ground level, addressing daily tasks and deadlines; then -- zoom! -- you're back at 30,000 feet again. This facility for blink-of-the-eye refocusing is crucial for soloists who are often faced with major decisions about the future of their company one minute, then turn and confront the puzzle of which toner cartridge to buy the next.
Reams have been written about the multiple hats that soloists must wear in running a successful one-person business: CEO, marketing director, customer relations, product development manager, IT specialist, janitor, and more. What's been missing, however, is acknowledgement that these hats often need to be slipped on and off in seconds, and repeatedly, throughout the day. Such demands can create an exceptionally stressful environment and diffuse the energy of even the most organized soloist.
Navigating the Zoom
Zooming doesn't need to be chaotic and relentless, however. Here are three ways to help build your zooming skills:
Recognize the reality.
As you craft your weekly, monthly or longer-term goals and projects, increase your awareness of the full range of decisions that will be placed upon you. Many times just increasing your sensitivity to the "height" of the decisions (e.g., ground level, 10,000 feet, 30,000 feet) helps clarify the process and reduces the stress level.
Play to your strengths.
Most soloists are stronger at one end of the zooming spectrum. In my years of advising soloists, I've seen many for whom allocating thousands of dollars for next year's marketing strategy is a piece of cake, while choosing a color for their Web site becomes a thorny problem. Make a frank assessment of your zooming strengths and weaknesses. Are you a big-picture person comfortable with 30,000-foot decisions? Or do you prefer to focus on micro-tasks? Recognize that successful zooming requires both -- and determine how best to enhance your weak side.
Cluster your decisions.
To augment your new-found awareness of zooming, try to cluster your decision making so that you are formulating judgments and choices of similar "heights" concurrently. For example, group ground-level tasks or 30,000-foot strategic decisions at different parts of the day, ideally at a time that coincides with the energy available to tackle them.
Although continually zooming from high-level to mundane decisions and back again may be both mentally and physically draining, the sense of accomplishment you'll feel from checking off both the miniscule and the titanic from your To-Do list can be invigorating. With practice, you'll be zooming as effortlessly as Google's servers allow us to switch between macro and micro landscapes -- and the map you'll be charting points the way to your solo business success.
Source: Terri Lonier
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