Monday, December 8, 2008


The global economy has been in a slow down for a few months now. Big economies such as the USA and other European economies are now in recession and the ripple effect of this down turn is having adverse effects on third world countries. For the past few months I have been encouraging entrepreneurs to follow their dreams but the economic climate can be discouraging. What do you do now? Do you shelve your dream and settle for an average life?

I believe that there will be unprecedented opportunity in this climate. People will have the chance to establish thriving businesses and create meaningful social change. Those who have some savings should take advantage of this situation and begin to acquire some assets that have been reduced in price. This is a moment ripe with opportunity for those who have vision and you should not stop in your tracks and be discouraged. Remember that with every economic contraction, there is an economic expansion. The next 2-3 years will be a contraction period and then the expansion will come. Those who make steps in the contraction period will reap a bountiful harvest when the economy expands.

With that in mind, I want to take a few moments to give you some pointers on the kind of out-look you should have and the simple steps you can take in this contracted economy.

The last thing you want to do is lose control of yourself. If you lose control of your internal world, you will have no control over your external world. Panic produces instability and causes you to make bad emotional decisions. Keep your cool and be guided by your vision.

Some of your plans will have to change because they are based on yesterday's assumptions. Make some small adjustments in order to be effective and stay afloat. In your personal life you can look at your budget. Where can you save some money? Do you have to buy your lunch everyday or can you make something at home to bring for your lunch break? You cannot live the way you did a few months ago; things have changed.
If you are already in business, think of ways you can save without getting rid of jobs. Maybe you need to go digital and save on paper. I know that most of my audience is from third world nations but this applies to you too. Such kind of small adjustments will save you money and time.

You cannot lose sight of what you want to achieve in life. This is the time to focus. You need to manage your life better and match your priorities with your vision. Review your written vision and make sure that you have a plan ready to go. I believe that there will be an injection of capital into the world economies one way or the other but the people that will benefit are those that have a plan and are focused enough to recognize opportunity when it knocks.

These are just a few things you can do right now that will chnage your life.

Now go and be a success!

No comments: