Becoming the CEO of YOU in the aftermath of the Coronavirus

Recently, I posted my "ode" to TIME vs. MONEY (and the blessing of having ENOUGH) as a way of personally addressing the challenges now facing the world and in particular the USA as a result of the Covid19 pandemic. In case you missed it, I wrote:

'One can always make more money, but not more time. While it is true that TIME is the most precious of all commodities, it is equally important to consider that TIME is also a depreciating asset (especially as we get older). It must be cherished, protected, made the most of, and never, ever wasted.

One of my discoveries of living a full and rewarding life of over-achieving and over attaining is that ultimately, you can never really own anything in your life, that doesn't ultimately own you, and your time. So, be careful of what you wish for, and always consider the cost in both money and time, as your dreams and aspirations, may be more expensive than you think.

In the end, if the only life you are looking to improve is your own, then you are part of a problem in a world that is desperately in need of solutions (wear the damn mask!) and be the solution to a problem rather than the problem for the solution.

Always let kindness and empathy be seen as your greatest strength, not your weakness. Be a giver, not a taker.

May you always have ENOUGH of the things you need for yourself and more than ENOUGH of the things you'd like to share with others. In this way, your hands will always be extended in friendship and never in want... And should you find yourself more fortunate than others, build a longer table, not a taller fence. While the grass isn't always greener on the other side, it will always be greener where you water it!'

*Any one that has connected or communicated with me, is well aware that last paragraph in the aforementioned ode, is something that I have included in my signature template of my messages for years.

I believed my statement was apropos to the current time we live in, particularly in light of the arguments about mask wearing, quarantining, business shutdowns and lockdowns. Perhaps people will appreciate what they have, recognize other peoples pains, trust math and science and live to be empathtic enough to unite to defeat this pandemic.

 Maybe I'm wrong in expressing hope and optimism, but then again, no one has ever gone blind looking for the bright side of a pretty dark situation. However, it is getting harder and harder to see that bright side through the political rhetoric and poor leadership.

In the aftermath of this novel coronavirus pandemic (it'll get worse before it gets better according to many medical professionals), nothing will be the same for a long, long time. Especially in these once UNITED, but now DIVIDED STATES OF AMERICA.   

The economic damage to the US by Trumps failed economic policies are becoming clear, but it is the longer term wreckage that will make the oncoming recession more than just a monetary challenge. Lets face it, most who know him and his organization are not surprised by his lack of business sense but it is the collateral damage from how ill equipped he is, that will be extreme. Indications are manifesting daily into the vulnerabilities for the future of democracy and the US economic system, in Trumps AMERICA.

High net worth individuals are high -tailing it out of the American dream at record paces. Thus far in 2020 a record number of Americans renounced and gave up their citizenship. It is fair to assume that 2020 will see the largest annual number of Americans leaving their citizenship behind on record.So who will pay the tab?

The absence of impactful, empathetic and practical leadership has resulted in the USA being the hardest hit, most devastated country due to the pandemic. We were woefully unprepared! Add that negligence to the malfeasance of the impractical spending and creation of soaring debt along with poor financial policies over the last 4 years, and its pretty clear to see that taxes will have rise to pay off Trumps $26.5 trillion of debt. AND... inflation (yes, its rumbling under the surface) t will make it that much harder to get out from under this mess.

I can make a case that failed trade policies will result in hyper-inflation, a world war and global depression, which will hit the USA even harder than the pandemic.

Consider that the US is now racking up $4 of debt for every $1 of real economic growth. It wasn't much better pre Covid…. Not exactly winning, just smoke and mirrors, ala Trump style. Plenty of people on Wall street and Investment Bankers have seen this page from the Trump playbook before.

Equally as troubling as the national debt is corporate debt. Corporate debt has doubled since the passing of Citizens United and there has been not much business investment in growth and development in that decade. Incredibly, net income has been generally flat and in most cases, executives have allowed their organizations to assume debt. The share buybacks is the driving force behind equity prices staying high and is only eclipsed by the overly accessible cheap money courtesy of hidden inflationary numbers.

The USA is a mess! In the last 4 years suicides, crime, injustice and unemployment, are all on the rise, while IQ ranking, population growth, business investment, life expectancy and accessible health care are all declining. Lets not discount the weakening dollar, wage depreciation and widening of the wealth gap.

History has shown that the debt and economic cycle is an important factor in wars, world wars and internal revolution. Add that to peoples values, the value of people and politically charges animus and its easy to predict the oncoming external conflicts that will occur when countries feel strong enough to challenge the existing leading world order and the powers that once kept it.

From studying history and comparing it with where we are today, I fear that that we are seeing a manifestation of a very big problem. The confluence of a wealth gap, nationalism, debt, politically influenced low interest rates in spite of inflationary pressures to keep central banks in check, protectionist trade policies, bigotry within countries as leaders pander for the bigot vote, and I can go on and on as the problems continue to feed a newer problem, daily.

But, that said, I would be remiss to omit my fear of domestic social unrest as a result of arrogantly ignorant leadership that feeds propaganda to the least educated in order to polarize rather than unite.

The last time these factors met was in 1937s and resulted in a change to the world order at that time. Please read my post Free Trade vs. Protectionism for more on how these matters can and did result in World War.

As coronavirus cases spiked in the USA, it is being reported that many State officials are rejecting new lockdowns citing the importance of the economy. The virus is spiking in more than a dozen states, and ICU's are filling up again.

The political will, to take the measures necessary has dissipated even though the virus continues to rage.

With 125000+ dead (and counting) in just a few months, a virus now in mutation and a spike in areas that were first to reopen, the question to most is: what is the more valuable commodity; TIME or MONEY? And, what is ENOUGH 

I have lived through lots of financial turmoil in my career. I opened my trading and investment company in 1986 in Two world Trade Center. The Journal did an article and interview with me and titled it Betting on China. One year later, I took a picture of my TeleRate screen (still hangs in my home office) on October 19, 1987. Yes, Black Monday! Less than 2 years later, the tanks rolled into Tiananmen Square crippling China centric businesses, followed by many other market meltdowns including but not limited to the “Irrational Exuberance” dot.com bubble burst, 9/11/2001, the 2008 bear market run, etc.

We recovered from all those in relatively short time because of unity, political leadership and American innovativeness.

Unfortunately, this feels different, especially for the job market, personal income/wealth of Main Street and their overall physical and mental health going forward. Keep in mind that globalization along with technology has commoditized human resources and in turn, is diminishing the value of all labor skills.

If there has ever been a time to consider the pursuit of business ownership (its never going to be "business ownership utopia" but it may be better than most other alternatives) the time may be now. In reality, you may soon find out that you will have little choice, but to consider going it alone.

Most businesses have learned over the last month or so that having an office space with a full staff of full time employees, is more of a luxury, than a necessity so the unemployment rate will remain high as commercial real estate values depreciate. With the oncoming hyper inflation train, protectionist policies and global paranoia (with good reason) about the environment and future pandemics, things will get ugly as the economy slowly bleeds out.

 Yes, governments are now desperately trying to get furloughed and laid off employees back onto the payrolls of small business, in order to get them off the unemployment rolls, mainly for political optics. But, that can't be sustainable.    

You need to protect yourself and your future. Regardless of whether you pursue going it alone or trying to find your way back into a familiar environment, it is time to consider learning how to be a CEO.

Becoming The CEO of YOU Inc!

Now is the time to lose the blind faith and learn to become the own custodian of your own personal financial growth and personal development as a person, as an income generator and time administrator of YOU Inc. 

In other words, its time to hone your "inner entrepreneur" and develop your emotional intelligence to become a better leader and time manager.               

I believe that achieving extraordinary success in anything, requires a long- term obedience to stay on the endless road of self-improvement. For the aspiring CEO this road is paved with the stones of Integrity, Purpose, Perseverance, Passion, Hopefulness, Commitment, Social and Emotional Intelligence and "Intellectual Humility."

So, what is Intellectual Humility? It’s a mindset that improves emotional and social intelligence, both required traits to succeed as an entrepreneur and business leader. It's being intelligent enough to understand the importance of knowing what you don't know is just as important as knowing what you do know; being understated in a way that your reach never extends beyond your grasp; possessing a mind so open and curious, that you genuinely strive to learn something every day, from every one that you encounter; being passionately interested in others, knowing that doing so makes you more interesting to everyone.

Here is my 15 commandments to help develop a CEO mindset. 

· Know that underachievers will always find an excuse; Winners will always find or make the time.

· Learn when to give in, but don’t EVER give up, especially on something you believe in. Tune out cynics and those with strong opinions. Remember that opinions are not fact, and typically a confession of the opiners character. BUT, NEVER fall in love with your inventory, just because it’s your inventory.

· Know that lapses in judgment are truly human, but there is no such thing as a lapse of integrity. Integrity is everything!

·  Remember intelligent people fight fire with water, never with fire. Emotional intelligence is truly an art, especially for a leader.

·  Be as passionate about understanding others as your desire to be understood by them.

·  Know, to be INTERESTING, you must first be INTERESTED. Be a good listener and then an articulate and genuinely passionate storyteller. 

· Remember that time kills all deals. Be as purposeful and expeditious about finishing a mission as you were about starting one. Never waste anyone's time, especially your own.

· Always possess a child's curiosity to go along with awe-inspiring humbleness. Genuine imperfection is ALWAYS more attractive than disingenuous perfection. BE REAL

· Know that knowing what you don’t know is often more important than what you do know. Learn something EVERYDAY, from EVERYONE you meet. 

· Have high expectations of others, but even higher ones of yourself. Be a great teammate.

· Compromise to cooperate, but never at the expense of your own integrity. Always try to make the right decision and if you don't, don't try to make the decision right.

· Be understated with a grasp that extends well beyond your reach. The world already has far too many overstated people with a reach that extends beyond their grasp.

· Always be eternally optimistic and genuinely excited about the success of others.

· Demand quality from partners by always choosing “character” over “characters”. Become the example of the integrity you demand in others.

· Express genuine kindness, benevolence, compassion and gratitude and let it be seen as your strength, not your weakness. Always be seen as a giver, not a taker.

In closing, lets recall this great quote "There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self.’

After all, It's not mastering your fellow man (and/or woman) that will create your success story as a CEO ultimately write your legacy on money and time. Only mastering yourself can do that. So go an do it, one day at a time.

Good luck to all, and please stay safe during these most challenging and difficult times. 

*If you enjoyed this article and want to learn more, please click the FOLLOW button and thank you for reading! For more, check out my booklet version of THE ENTREPRENEURS EDGE - Tapping Into Your Inner Entrepreneur on AMAZON here https://www.amazon.com/gp/product/1478794003 

James Vena

About Me - In early 2018, I announced my plans to take a step back from my businesses and quasi retire to write and teach. Here is my announcement https://www.dhirubhai.net/pulse/personal-career-lifestyle-update-2019-james-vena/