Job cuts. Wage freezes. More work, less pay. Hard times. These are the mantras of our times, as the world closes its doors on what TIME magazine's December 7th cover, called 'The Decade from Hell.' These realities also represent a recipe for hopelessness and despair.

But, if you intend to survive and even thrive in these challenging times, you cannot afford the luxury of pessimism. Your greatest asset right now is not money, it is not a job; it is the right mindset. If you lose your job or money, you can bounce back, but if you lose your mind, you're doomed.

I learned this important principle about fifteen years ago from a sermon by Dr Martin Luther King Jr entitled 'A Tough Mind and a Tender Heart.' Dr King in this sermon, advocated the need not to be unduly influenced by dishonest racial propagandists, but to discern truth instead.

Adopt this attitude

I also adopted this idea from a book by the father of positive thinking, Dr Norman Vincent Peale, entitled The Tough-Minded Optimist. Here's Dr Peale's definition of the term: "A tough-minded optimist is one who has what it takes to deal creatively with the harsh facts of human existence and still keep on believing in good outcomes."

We have to adopt this attitude to overcome the daunting challenges ahead in our professional and personal lives. It is easy to buy into the pervasive belief in gloom and doom. But Dr King's argument was a simple one: think for yourself; don't allow journalists, commentators, and advertisers to think for you. Look at the facts and think about them for yourself. Your career depends upon it.

Fact: A few people make lots of money when the economy is booming, while others barely make ends meet. When the economy is in recession, guess what? It's the same: some people are making money, while others are not getting by. So it's not just the economy that determines how well you do; your attitude is the deciding factor. And your attitude is a choice.

Seeing opportunities

Opportunities exist no matter what the economic conditions. An attitude of pessimism, fear, and despair makes it impossible to recognise opportunities, or take advantage of them. Tough-minded optimists don't focus only on problems. They see opportunities because they face all of reality; both the problems and the possibilities.

They recognise the need for creating greater value for customers at reduced cost, and find creative ways to do it. They seek out new approaches to complete projects faster, and at better quality.

Opportunities are seen not with the eyes but with the mind - a mind rich with possibilities. The current economic problems are creating new opportunities at your workplace, in your industry, your area of expertise, interest, or experience.

Everyone knows: when the going gets tough, the tough gets going. Only few know why: tough-minded people expect the best, and work for the best, no matter what.

Glenford Smith is a motivational speaker and personal achievement strategist. Email: glenfordsmith@yahoo.com