The economic meltdown that has spread across the world in the past years has cast shadows of doubt on many individuals’ hope of hanging on till the crisis is over. Some believe that they will never be able to find their financial bearings anymore due to the fact that several businesses have closed down and many workers have been laid off following the inability of the affected firms to continue to maintain their staff strength
The meltdown has seen the share values of several companies plummet by several percentages and everybody is counting his/her losses. The hope of new jobs being created is dashed by the day as new people are losing their jobs daily; banks are even closing down in their hundreds across the globe. The man-hours of some companies are reduced and this invariably reduces the take-home pay of the workers.
However, not all businesses have closed down due to the economic meltdown: some people are still declaring profits and some companies are sharing dividends to their share holders. What this translates to is that there are secrets to making it in the current economic meltdown. You can profit from the crisis if you know these secrets and put them to use.
1. Think in the opposite direction:
While some people believe that things will never be well again, you must learn to believe all things are possible. This is the time when the shares of many of these companies are down and people are skeptical about buying them since there is uncertainty as to whether they would ever rise again. Look closely at those viable firms that are declaring profits and those that may not be declaring profits but are still very strong and invest in their shares. With time (as the economic meltdown begins to ease off) the prices of their shares would rise again and then you will make a kill.
2. Look Inwards :
Some people who read marketing, agriculture, accounting, banking, etc. at school are today into comedy. They found out there’s no job for them in their original profession and they decided to look inward to see what else they could do for themselves and now they are making it big in the entertainment industry. You could have a latent talent in music, comedy, showbiz, etc.
3. Take risk:
Dare to do what you would not love to do naturally. Create new job for yourself; if you have the money don’t spend it on frivolities. Invest whatever you saved over the years on small scale manufacturing or on wholesale/retail business. Some of the goods that are always needed (economic meltdown or no meltdown); include table water, foodstuff, transport, medical supplies, waste management, etc. Just take the risk: put your money in these areas and because these products are always needed, you are sure to make profits there.
4. Learn new skills:
When situation gets tougher, don’t remain helpless; but think of ways to get along and make yourself relevant in the scheme of things. Only those who have got something to offer would truly survive the current economic recession and become wealthier when the crisis is over.