As I sat and listened to Lou Dobb's on CNN, I begin to wonder if many people understand what it takes to be successful in such trying times.  On this program, a Harvard professor explained that it is likely that this crisis will be equivalent to the Great Depression in the 1930's. 

In light of our current situation, I thought it might be useful to recap what happened in the Great Depression.  It all started with Black Tuesday, where the DJIA dropped 12%.  Stocks dropped to about 20% of their previous value.  A large percentage of banks failed (11,000 of 25,000).  Unemployment ranged from 25-30%.  The Great Depression lasted 10 years, from 1929 to 1939. 

Much of the unemployment experience of the depression can be accounted for by workers who moved in and out of periods of employment and unemployment that lasted for weeks or months. These individuals suffered financially, to be sure, but they were generally able to save, borrow, or beg enough to avoid the severest hardships. Their intermittent periods of employment helped to stave off a psychological sense of failure. Yet there were also numerous workers who were unemployed for years at a time. Among this group were those with the least skills or the poorest attitudes. Others found that having been unemployed for a long period of time made them less attractive to employers. Long-term unemployment appears to have been concentrated among people in their late teens and early twenties and those older than fifty-five.

We aren't sure what we can expect from our current crisis, but it is evident from all of the failing organizations, that employees will bear much of the burden; that is, they will likely pay with their jobs to reduce the cost of operations.  Whether you are currently employed or not, these ABCs are extremely critical to your future.


is for ACTION.  Organizational change is occurring everywhere and likely to hit your organization before its all over.  Failing to prepare for change will land you in a more difficult financial crisis.  This crisis has put most people into 'survival mode.'  Risk will be something that people will avoid.  However, change also brings opportunity.  Sitting back, protecting yourself may feel safe but it may also create the perception that you don't care.  Taking action, stepping up and meeting the organization's challenges head on are good ways to actively impact your career and future.  It difficult times, a great attitude is the sign of a great leader.  In such times, people need a great leader.  So be a great leader and impact your future by taking ACTION.

is for BREAKAWAY.  Today's environment isn't like anything many of us have ever experienced.  Even executives are seeking unique ways to manage the change they are incurring.  So why shouldn't you?  The activities that gained you success during more stable times may not be effective at all now.  You must breakaway from the 'main stream mentality' and become a change leader.  Rarely does engaging in the activities and mindset of the main stream set you apart and identify you as an up-and-coming leader. 

is for COLLABORATION.  This is the best way to manage your career.  Too often we manage our career through a limited view of the organization and our impact on it.  Individually, we build the skills we think we need, we do the things we think should be done and connect with the people we think are influential.  Unfortunately, we view the business world with only a single set of eyes which leaves a lot unnoticed.  Building a team of career supporters is the way to overcome all of these barriers.  Sharing success with people who can help you build skills, create a larger network, build a better strategy and accomplish great things is a way to ensure success is present in your future. 


These times are unique and so should your approach in making it successful times.  The survival instinct is expected.  However, you don't have to give in to it.  Engage in a team-based approach and put your career on a completely different track that will sustain you even when times stabilize.