Vince Poscente's Speed Blog

An Immigrant's Perspective - When and How the Economy Will Turn

I emigrated from Canada to the USA in 1995. (You could say you’re protecting the wrong border.) Yet with my good fortune to speak to organizations across the land I often get asked what’s in store over the next while. With my Green Card in one hand and my iPhone in another I have a perspective on how united we stand.

But I can’t say we started off on the right foot. I used to be a tad cynical.

Growing up as USA’s northern neighbor it felt like being the little brother of a star football player who gets all the girls and can chug a keg for the sport of it. On top of that, regularly hearing Americans say they live in “the greatest country in the world,” referring to the President as “the leader of the free world” and calling the Super Bowl winners the “World Champions” coupled with baseball’s “World Series” smacked of braggadocio.

But hey, ask anyone in most countries where they’d emigrate to; the United States of America tops the list.

I have spent 14 years getting to know my American neighbors as brothers and sisters. Here’s what I’ve learned and predict:

• Americans don't tolerate boredom. Bad news gets boring after a while. I think that magic shift from fear to confidence with the flow of cash will come from American’s who get tired of the pause button.  This mode of not building, buying or creating something will get old sooner than later. American’s are far too ambitious to wait around for too long.

• Awareness breeds clarity. After 9/11 I heard a phrase repeated in many circles. “Why don’t they like us?” This lead to another question. “Who are they?” Gradually but perceptibly American’s generally looked beyond their border to better understand the outside world. This global recession was kick-started by unchecked greed on Wall Street but will recover by Main Street’s curiosity about how we fix this globally with the greatest capital of all – human capital.

• Adversity begets growth. The recession has inflicted a good deal of pain. It’s not all Wall Street’s fault.  We nurtured a debt culture and embraced it like a two year old covets his bankie. Our recessionary wake up call has us all rethinking what is really necessary. Delayed gratification is back folks. A healthier set of values and priorities are settling in. The USA has always grown stronger from adversity.

A friend and fellow entrepreneur, Bruce visited the other night and he noticed I was feeling down. Without diving into the reasons, Bruce just repeated a quote he’d heard. “Know the difference between being preoccupied and occupied. Preoccupied is thinking the same thing over and over. Occupied is doing something about it.”

The United States of America won’t be preoccupied for too long. It’s time to do something about this mess we’re in. Otherwise we’ll be bored silly.

Necessary Adjustments

When you feel out of sorts it’s difficult to focus on moving forward. Mild discomfort can make it hard to concentrate. Major discomfort makes it nearly impossible. Yet, alter, adjust or reposition and you’re golden.

You are probably sitting as you read this. Before long, staying in a given pose gets uncomfortable and you’ll eventually make a little cheek shift. Although this is an unconscious act, it would be quite conscious before long. Most of us are experiencing a fair bit of discomfort nowadays. It’s tough to ignore. Yet a simple alteration, adjustment or repositioning would allow you to clear your mind and carry on with amazing ease.

Men will readily identify with this next story but I imagine any woman with under-wire discomfort can relate – kinda sorta.

It was the year before the Olympic Winter Games in Albertville. The 1991 World Cup in Les Arc was buzzing with host broadcasters eager to prepare. Even our team was gearing up with brand new, tight rubber speed skiing suits. When I say tight, I mean, no-secrets tight.

A brand new speed suit is 2/3rds your body size. It becomes a new Olympic event trying to get it rolled onto the body. After 45 minutes of GynastiCatortionism the suit was on and I hurried out to the first qualifying run on the speed skiing track.

In my new, ultra tight rubber suit and smooth leather racing gloves donned I found myself struggling for a pinch hold. “Vince Poscente in the start area,” announced the starter. Ugh. I couldn’t concentrate but I had to get to the gate. Time had run out.

For the record; all men do this, not just skiers in tight rubber. Some are subtle (Pianists and Talk Show guests) and others are not (Baseball players and Hip Hop singers). In everyday life it takes a deft little tug on the pleats and it’s back to where a guy can concentrate.

Up against the start banner I had to resort to an all out, two-handed assault on the region in question. I looked like a cross between Beyonce and Steve Martin doing an interpretive dance to Bohemian Rhapsody. At last I gathered up a two-hand fold of speed suit and turned distraction into transcendence. Now I could give attention to the race.

I looked up and was surprised to see a French cameraman and sound guy, openmouthed, looking around their equipment as I adjusted mine. Ooops.

I gave the international sign for a guy’s gotta do, what a guy’s gotta do (a slight shrug, smirk and raised eyebrow) then blasted down the mountain. Of note; I completed the race with a new national record and my highest world cup ranking ever.

Remember this: when things aren’t right, you gotta do what you gotta do. It’s faster to readjust, realign and reposition. Get your mind on track and break some records of your own.

Meetings Make the Economy Go Round

Recently a host of meetings across our land have been cancelled or postponed. A reason that is popping up more and more is, “We don’t want to look bad.” According to one speakers bureau owner, “All of a sudden, holding a meeting is unfashionable.” But there is a HUGE economic disadvantage to canceling meetings.

Let’s get one thing out of the way. Of course we don’t want taxpayer’s bailout funds to go towards self-serving executives wanting to add to their vacation plans. But economic stimulus is not about bonuses for underperforming executives.

Hard working employees are losing the chance to grow their companies and celebrate their success at a time when the media is intent on beating home a message of doom and gloom. Sales conferences are being cancelled at a time when they are needed the most. Remember, “Nothing happens until somebody sells something.”

Cancel a meeting and you stop the flow of funds to other industries such as travel, hospitality, food service, printing, production, entertainment, training and development. Bailout funds are intended to get the economy moving yet any effort to spend a dollar is held with suspicion and even contempt.

Please take a moment to read below.  There are jobs at stake! 

Stop Congress from banning companies from hosting events and conferences! 

Senator Kerry has introduced legislation that would ban all 421 firms including the nation's largest banks that received money from the Troubled Assets Relief Program (TARP) from hosting, sponsoring or paying for conferences, holiday parties and entertainment events. Click on this URL to take action now! 

There are 10,000 of you that get this Full Speed Ahead eBrief. It takes you 70 seconds to read it each week. It would take you 70 seconds to oppose this proposed legislation. Your name will add momentum to money that needs to start flowing again.

Thank you for your consideration.