Man, what a rough week. Microsoft, Citigroup and Clearchannel all annouced major layoffs. What next? Experts discussing the idea of nationalizing banks!! WHAT? That not sticking salt in an open wound, thats stabbing with a pencil and twisting it! I think we should learn from our friends overseas. The British Pound Sterling has seen losses of 1/3 within the last few months. If banks are nationalized its going to kill the dollar just like it killed the British Pound.
So what do you do? Now more than ever is the time to diversify. You might be fine if you work at one of the big companies I just mentioned but it’s important that you create multiple revenue strategies to offset any downturns that you may or may not expect. Comfort is the enemy of progress. If you put on blinders and expect that you can just focus on one thing you might find the carpet pulled from underneath you.
I often get critical comments like: “What do you do?” and the truth is, I look for ways to diversify in different verticals. Just as any wise CEO would direct his company to do. I just do it personally. I believe that will prove to be the stronghold for many of you who have yet to realize our market is about to get worse before it is to get better.
You can hord your money and listen to the doom and gloom news anchors or you can see oppurtunity and jump at it. The choice is yours and we are now seeing the middle class in America as a fad of the past. If things are not corrected then we will see a two class society. One that the founding fathers ran away from to begin with. History does have a way of repeating itself. The best part about all this is that you can do something. Just don’t put on the corporate blinders and put too much trust in JUST one source of revenue. Plan on working hard, smart and expecting nothing for free and you will already be ahead of the competition.