A Reason for the Season or How To Keep Your Sanity During the Holidays

August 20th, 2008

Typically most business leaders and entrepreneurs face the same challenge everyone faces during the holidaystoo much to do and too little time! You need to keep your business going, at least for the majority of December, yet you have added responsibilities taking up your time: professionally, you have to deal with year-end financial concerns, employees requesting time off, and office decorations and parties; personally, you have home decorations, presents to buy, and maybe travel plans. So how do you keep your sanity and actually pull it all offand manage to have a happy holiday?

One way may be to re-focus on the reason for the season. What are the winter holidays all about? How do you get off the treadmill of activity and commercialism and back into the heart of these times of sacredness and celebration? What is the reason for the season for you personally? This is something that may be different for everyone, so take a few minutes before the hustle begins to look inside yourself and remember what the holidays mean to you. Here are some ideas that may help you reconnect with the spirit of the season:

1.Giving & Receiving: When you focus on how you can give, you wind up receiving so much in return. Giving, however, doesn’t need to be about how much you spend on presents. Consider giving as an expression of caring and a way of saying thank you. The bonus you give to staff or contractors says you appreciate their loyalty and exceptional service. The gift you give family members and friends says thank you for being in my life. Additionally, you need to be a good receiver, since those who appreciate you need to show it too. So accept that purple striped tie that you find obnoxious or the box of chocolates you can’t eat, with grace and a smile.

2.Gratitude: Of course, Thanksgiving is the perfect time for expressing your thanks or gratitude. It’s unfortunate that we need the holidays to remember to be grateful for what we have and to express gratitude to those we appreciate. When sending holiday greetings to business associates, employees, family, or friends, take the time to add a personal note and tell each one what you value about them. It works wonders for both of you.

3.Connection: What a great excuse to spend time with those you usually don’t have time for. At work, you’ll enjoy being with your co-workers and staff in a social context and getting to know them in a deeper way. This in turn can only enhance your working relationship. At home, you may connect with family members and loved ones you only see at holidays. This keeps that contact alive and replenishes your heart.

4.Celebration: It’s time to party. New Year’s Eve is especially a great time to kick up your heels, drink champagne, and dance the night away. You work hard all year, so you deserve some playtime. Get into the spirit of the New Year and celebrate in the way that works for you. Some enjoy partying while others prefer a quiet celebration: a hike in the woods, a walk on the beachtime to reflect on the year past and the year ahead. Create the observance of these occasions with meaningful activities.

5.Renewal: Holidays are everyone’s excuse to take a break, and that means you too! Your body and your brain need some time off when you don’t think at all about your work. Allow yourself at least a few days at Thanksgiving, Christmas/Chanukah, and the New Year to wind down. With a rested body and mind, you’ll be full of energy and creativity for a terrific year ahead.

Want more success in your life and business? Contact Cheryl Vallejos, Author, Motivational Speaker, Certified Business Coach and Consultant at Cheryl@PrimeLeaders.com and sign up for the free “Monthly Leadership Tips” e-zine and the bonus FREE 37-page leadership guide eBook at Monthly Leadership Tips.

Affluent Turn Cautious in Outlook for Personal Spending and the Economy

August 20th, 2008

The Affluent Market Tracking Study #8, the just released Fall 2005 report in a continuing series of twice-yearly surveys by The American Affluence Research Center (AARC), reveals several important changes in the 12- month economic outlook and spending plans of the wealthiest 10% of Americans, the 11 million households representing about half of all consumer income and spending and a third of the total US economy.

While the affluent still have a somewhat positive outlook toward current business conditions, their outlook for future economic conditions is now neutral. This may reflect concern about the potential negative economic consequences of the Gulf coast hurricanes (risk of increased inflation, higher interest rates, and a recession) that dominated the news media in September, when the survey was conducted.

The affluent are far less positive than they were six months ago, continuing a decline that began in Spring 2004 after reaching a record high in the Fall 2003 survey. The composite Affluent Consumer Expectations (ACE) index for economic conditions 12 months from now had set a record low this past spring at 116 and has now dropped further to the neutral level of 100.

The affluent also indicated modest declines in their plans for major purchases and their expected changes in spending for 17 different products and services. Their projected $57 billion in expenditures for holiday gifts (25% of the estimated total holiday gift market) is 1.6% below 2004 spending levels. This contrasts with a 5% increase projected in an early October survey of the total adult population for the National Retail Federation.

There is some indication of a reduction in the plans for major expenditures in the next 12 months, with 44% of respondents reporting no such plans. Plans for home remodeling, cruises, and acquisition of vacation residences declined from their Spring 2005 record highs. Plans to acquire motor vehicles and boats showed slight increases, while plans to purchase an existing home as a primary residence increased to a record high.

The AARC surveys track spending plans over the next 12 months for 17 categories of goods and services, including major appliances, home computers, furniture/furnishings, entertainment equipment, casual and upscale dining out, entertainment, recreation, domestic and international travel, designer and non-designer apparel, collectibles, fine jewelry, and political and charitable contributions.

Of the 17 future spending indexes, only four are at positive levels. Of the 13 categories with negative indexes, 11 declined from their Spring 2005 level. The Future Spending Index average (91.8) is at its lowest level since tracking began in Fall 2003.

Approximately two-thirds of the respondents expect to spend the same amount for holiday gifts this year as last year. The number who expect to spend “less” (21%) this year is about double the number who expect to spend “more” (11%).

This information is based on a national survey of 448 men and women in the wealthiest 10% of American households. The survey participants have an average income of $308,000 and an average net worth of $2.7 million. The survey has a 5% margin of error at the 95% confidence level.Highlights of the survey can be found at the AARC website www.affluenceresearch.org

Ron Kurtz is a principal of The American Affluence Research Center and The Management Resource Group. Both companies provide marketing research and strategic planning services to prominent clients in the travel and hospitality industries, especially those targeting the affluent market.

Prior to founding MRG in 1989, Ron’s experience included over 20 years in senior management positions in the airline, hotel, and tour business. As the founding President of Sea Goddess Cruises, he created the product category of small deluxe ships for the very affluent. He also served as the chief marketing officer of four cruise lines, including Norwegian Cruise Line and Windstar Cruises.

Ron has been a key contributor to 6 start ups and 11 turnarounds of substantial businesses. He earned his MBA at Harvard Business School.

For further information: http://www.affluenceresearch.org and http://www.mrgconsultants.com