"Meltdown Monday," "Markets Reeling," "Crash, Bang, Wallop!" The fall of Lehman Brothers and tumbling of banking stocks has been a headline writer's dream.
The press and media are full of the problems and dire predictions.
Bad news sells, as they say.
But despite all the uncertainty and craziness, you really can still be successful.
The focus should be on making your position assecure as possible whilst putting yourself in a strong position just in case something drastic happens to your firm Here are some suggestions on how to accomplish this: 1.
Be visible by adding value This is not the time for lengthy breaks or disappearing off the radar.
It's not the time to 'brown nose' with superficial 'profiling' activities which will do you no good at all.
Instead, now is a great opportunity for you to show the value you can create for your firm and their clients.
Be a problem solver and value creator by adjusting to the changing needs of the market place.
Banks need more problem solvers at the moment, not less.
Focus on enhancing your personal brand and reputation by making a difference to the business and the people within it.
2.
Strengthen your relationships Your contacts and relationships are key during downturns.
So cultivate and strengthen relationships with friends, ex-colleagues, clients and head-hunters.
They will be the people you lean on to get you through the next few months if you were to lose your job.
3.
Strengthen your finances If you are impacted in the coming year by a job loss or you decide to take a sabbatical or make a career change then you'll need to subsidise that.
Look carefully at your finances and make sure you're prepared for whatever happens.
4.
Take one day at a time Don't worry too much about "having a plan," - things are far too unpredictable to plan too far ahead.
Stay focused on the now and be nimble enough to adjust and be opportunistic as required.
5.
Make YOU the priority I wrote over the summer about the importance of thinking and behaving like a freelance consultant or agent rather than an employee 'tied' to one employer.
This week's events illustrate just how important it is to take personal responsibility for your career and think "Me Plc" or "Me Inc.
" As the fall of Lehman Brothers has shown, you can't always rely on someone to step in and save you.
So be sure to look after your own career first before the interests of everyone else.
As we can see from the Bank of America / Merrill Lynch merger, the Barclays / Lehman part acquisition in the US and the HBOS/Lloyds TSB merger - the banks are consolidating to protect themselves and their future.
You should be doing exactly the same thing..
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