Amid stories of personal financial hardship, Statistics Canada reported that, in the third quarter of 2008, Canadian corporations earned CAD$77.3 billion in operating profits, an increase of almost 8 percent over the second quarter. Gains in the non-financial sector climbed more than 9 percent to CAD$58.1 billion, while profits in the financial sector rose significantly to CAD$19.2 billion.

It has been downhill since then, but for years, corporations generated a lot of profit. Using every method available to them, a great many corporations intend to weather this economic storm and be back on the money trail as soon as possible. While media and politicians wrangle about how much Canada will suffer relative to other countries, they all agree this economic mess will end.

How Do You Feel About the Future? If you concentrate on how much you've lost and what you should have done but didn't, you'll be too preoccupied to recognize opportunities to improve your current situation. Adopt the "forge ahead to prosperity" attitude essential in business, and you'll discover many practical financial and lifestyle bridging strategies to adapt to your situation and position you for The Rebound.

Corporations are not people. Businesses do not necessarily have the same sense of kindness or fairness that individuals can exhibit. That aside, these organizations can teach us about the business of life, surviving investment loss and budget tightening. Here are a few variations on strategies that may translate into opportunity for you:

Cut Back & Use Every Resource Available: Consumer materialism imploded into a growing realization that all that must-have stuff is small consolation for huge and growing credit card debt. How many times do you want to relearn the "pay cash" and "if you don't have the money, don't buy" lessons? Credit carding your way through this downturn to preserve a lifestyle which is beyond your means is a form of denial, not survival. The Debt Quiz, hosted by Credit Counselling Canada (CCC), a national association of not-for-profit credit counselling agencies, may help you identify financial red flags. Locate a CCC member agency in your community to learn how, each year, they help hundreds of thousands of Canadians resolve debt problems and learn solid money management. Why not you?

Invest in Morale and Skills for Long-Term Returns: Feelings of vulnerability have quickly replaced joie de vie. People who have gone from "more than enough" to "maybe enough," feel as personally threatened as those who find themselves without enough because of investment failure or job loss. It's all relative. To restore morale and build new skills, help someone who is worse-off than you are. Local problems are best solved with local solutions. Share your creativity, determination and love of the area. Exercise your talents for others and you'll be in great shape to help yourself. Organizations, such as food banks, temporary housing groups and Habitat for Humanity, always needed your support and they still do.

Move with New Trends: Alone it can be difficult for one property owner to make headway. With the internet, email and social media like Facebook and wikis, one voice is many. Instead of struggling individually to achieve sanity with market value property tax assessments, band together with neighbours and launch a solid campaign. Having trouble finalizing repairs in your new home because the builder is hard to pin down? Perhaps if the entire new subdivision or condominium were online together, everyone would have their problems addressed promptly. Keeping in e-touch during cold spells through an email tell-tree-style network ensures solo homeowners to stay connected to the neighbourhood. Bring two or more property owners together online and there may be bulk buying, contractor pricing deals, bartering, garage-sale style swaps and other savings to be had.

Create a Business Plan to Achieve Goals: Industries on the brink of collapse did not have realistic business plans and achievable goals. Does your family have a business plan -- a one-page, written outline of specific goals to achieve, and step-by-step strategies for achieving them. The "one page" limit is important, so details can be seen at a glance. This document should be read often and reworked as necessary. For instance, if your goal is to sell your current real estate and buy something bigger or in a different area, which real estate steps would achieve that goal? Ask your real estate professional to help with those calculations. Previous columns have discussed strategies for projects like this.

Build on Positives: Here, the point is, "Which stereotypes and out-of-date thinking undermine your creativity?" For instance, this is winter (ugh!). In pre-boom times, this meant real estate markets froze over until the snow melted. Even strong real estate markets, which slow at this time of year, can revert to traditional patterns: slow over the holiday season and dead of winter, thawing out in spring. Don't panic if you must move during this period since even on Christmas Day someone is probably buying a home somewhere. In Toronto, during the deep financial gloom and early freeze of October, a surprising 2,111 new home buyers went on with their lives. This is a 45 percent decline over October 2007, but houses and condominiums are changing hands. The more property owners tell doom and gloom stories, the more panic, not optimism, is spread. That's not good business for anyone.

Please share your strategies for "Forging Ahead to Prosperity" with us: pjwade@TheCatalyst.com.

Published: December 2, 2008

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Strategist and Futurist is The Catalyst -- intent on "Helping The Best Get Better." An internationally-recognized "new retirement" authority, PJ's research, writing and speaking programs focus on decisions Baby Boomers face to achieve a successful future. Author of 6 books, PJ knows that, since home is headquarters for the "new retirement," professionals and consumers need relevant knowledge and insights, along with solid decision-making skills, to protect and enhance this private oasis. As The Catalyst, PJ provides strategic communication, client appreciation and advanced education services to the financial, tourism, lifestyle and service sectors -- and the clients they serve. A frequently quoted financial and business commentator, PJ is a thought-provoking strategic speaker who offers practical, real-life suggestions on leaving "the box" behind and embracing Forward Thinking -- a talent she regularly demonstrates in this column. For more, visit TheCatalyst.com.