Is it just me, or are you feeling like a stand of bamboo which, if you believe the government, is sprouting the first green shoots of new growth after a dry season.
If that’s the case, it must mean there’s been plenty going on underneath the surface too if I’ve been capable of actually creating these tender leaves.
While I’ve been working hard at that, consumers have been feeling a little cocky with the infusion of money into the system, mainly through government stimulus. But that’s already starting to dry up and forecasters are shadowing Western Australia in particular, is yet to hit the bottom and truly feel the full effects of recession.
If forearmed is forewarned, then we can do something to smooth out the immediate future.
The boom that has passed and the recent period of government-subsidised activity has meant it’s been easy for even ordinary business people to do well because a buoyant economy has papered over any mistakes and naturally readjusted.
But no more. Because from here on in and for a little while, you will wear your miscalculations and the market won’t be hauling you out of it.
It’s time to act smartly to prepare now for what’s coming. If you’ve been a huge or solid success in your industry or your investments to date, don’t automatically assume that doing things as you always have will see you through.
If you consider until the GED your world was working at an arbitrary level of factor 12. Now perhaps your world is having to reset and operate more at a 7 or 8. This is still an excellent level to be at; it’s simply a matter of changing your mind-set.
There are more challenges to come and lifestyle and business MUST change. These changes will have some negative effects in the marketplace but with a little preparation, adapting practices and resetting your head space, you can address a constricting volume of opportunity successfully.
It doesn’t matter if you are a businessman, buying a new home or dealing with your personal life, it’s time to look in places you haven’t explored before. Use all the skills you have gained to date and refashion them to this brave new world paradigm.
People who don’t (or won’t) adjust haven’t seen the reality of the economy. Just as you let a bull market ride you to the top, it can also send you screaming down the rollercoaster into a dip.
Most people don’t like change or to be challenged. This market is showing us all who they are – and be it at your own peril if change is not understood and embraced.
History recounts some of the world’s most notable companies making their biggest headway during down times. They’ve done it because they’ve looked ahead, changed their ways and grabbed new opportunities.
Now it’s your turn…but it’s up to you!
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