Don't let the recession/economy get you down. Learn how to strive and succeed regardless of what the economy is doing.
"We're in an economic recession!"
"No, it's a depression!"
"Woe is me!"
"How will I survive!"
If you've been watching TV, reading the news or just talking with friends, family or coworkers over the past 2 years (maybe longer depending on where you're located), then you've probably heard some version of the above. Turn on the news or read the newspaper and most of what you're going to hear is doom and gloom about how terrible it is. About how we're in (or on the verge of) a recession maybe even leading to a depression (depending on how bad the station is itching for ratings).
Even through soaring gas prices, skyrocketing grocery costs, and disappearing jobs, I've noticed that many people are still spending money as if it's not affecting them. I've seen no shortage of people at the malls/retail stores, eating out at restaurants, no shortage of cars at the gas stations, etc.
So even in a recession, it's safe to assume that people are still going to be spending. The question is: are you going to be one who continues to complain about it, or are you going to be one who recognizes that in times such as this, there is an abundance of opportunity?
Listen folks, I'm not going to pretend that these are not tough times. Look around and you'll see big companies folding, small companies folding, credit crunches and crashes, foreclosure fallouts, and so on and so on.
But, I'll say it again as I've said it before: tough times don't last; tough people do. Also, remember that it's times like these that some of the wealthy have made their greatest fortune.
In fact, here's some more information I found about the "Great Depression", which many consider to be the worst ever time in the American economy:
- One-third of the population truly suffered during the depression and lost everything
- One-third of the population maintained their standard of living and came out of it unscathed
- One-third of the population thrived during that time and came out wealthier than before the depression happened
So, if history repeats itself, you have 3 choices: suffer, stagnate, or thrive. I know which one I'm choosing. And I hope you will too. Happen to the recession/depression. Don't let it happen to you.
If there were one skill I would tell you to specialize in during these times in order to get rich, it would be mastering the art of problem solving. People (and entire companies for that matter) have a myriad of problems and are always willing to pay someone else to help them solve their problems.
I encourage you to identify 3-5 problems that currently exist in today's society, and then spend 30 minutes a day brainstorming ways you can solve those problems.
I guarantee within a week's time you'll have several business ideas you can implement to make money and ultimately get rich.
As you pursue your ideas to start generating additional revenue streams, there is another piece of advice I'd like to give you: MAKE SURE THERE IS A MARKET FOR WHAT YOU'RE SELLING!
You might know that 90% of new businesses fail within the first 5 years. But what you may not know is that a large part of the failure is due to the business owner not understanding their market (or lack of a market).
Many times, people have an idea and rush to create the product or service without first testing to see if anyone wants it. Now more than ever, when people have tightened up on where they are spending their money, you want to make sure that any venture you take on has an audience that wants what you have AND is willing to pay for it.