There is no question about the fact that we are deep into an economic recession. Many of us are asking how we are going to get through this unscathed.
Basically, there are three possible outcomes. We could fall apart, we could perhaps not be overly affected or we could actually prosper. If you are like me, you are hoping for the latter. Yes, we all want to prosper regardless of the times we are living in. The big question is, how can we do it when all we see around us is doom and gloom?
I think we all realize that there is certainly an ebb and flow to the economy. There are times of great economic growth, times of relative stability and then times when the economy draws back and we find ourselves in a recession, or perhaps even a depression.
There are many books on the market that discuss the causes of recessions and how we can cope with them. There is one particular book that I highly recommend. It is by William Bonner and is called "Financial Reckoning Day: Surviving the Soft Depression of the 21st Century". Your local library would be happy to order in a copy if they don't already have one on their shelves. Doing some research can give you the confidence that you can survive and even thrive during times such as these.
One obvious thing we should do is curtail our spending, and even though we might find it hard to do, we should attempt to save money for the times ahead that might even be more difficult that now. We should only be spending our money on necessities. Two that come to mind are food and gasoline for our vehicles. We still have to nourish ourselves and most of us need to drive our cars back and fore to work.
In the same vein, we would not want to take on any new debt during a recession, even if we think we can afford it. In these unpredicatable times, we cannot foresee if we will still be able to afford that shiny new car sitting out there in our driveway.
Do a little brainstorming and think of ways to earn extra income. Do you have a few rooms in your basement that you could fix up and rent out? There is a huge demand for inexpensive accommodation right now with so many people losing their homes.
McGraw-Hill Research did a study and found that companies that maintained or even increased their marketing during the 1981-82 recession actually saw a 275% average sales growth over the following five years. In comparison, those companies who cut their marketing, only saw a 19% minimal increase over the same 5 year period. Starting a home based business during a recession is a great idea. The experts say that this is actually the best time in 70 years to build a profitable business.
This is actually great news!
Fluctuations in the economy are part of life but they do not have to affect us adversely if we are smart and just take a few specific actions. One of the fastest and most successful ways to build a business is through Internet Marketing working from the comfort of your own home. This way of doing business comes highly recommended by Donald Trump and Robert T. Kiyosaki who have both written about the fact that more millionaires are going to be created through network marketing during the next number of years, than from any other form of business.
It is my recommendation to you that you take this economic recession that we have found ourselves in and use it to your advantage. I wish you every success.
Basically, there are three possible outcomes. We could fall apart, we could perhaps not be overly affected or we could actually prosper. If you are like me, you are hoping for the latter. Yes, we all want to prosper regardless of the times we are living in. The big question is, how can we do it when all we see around us is doom and gloom?
I think we all realize that there is certainly an ebb and flow to the economy. There are times of great economic growth, times of relative stability and then times when the economy draws back and we find ourselves in a recession, or perhaps even a depression.
There are many books on the market that discuss the causes of recessions and how we can cope with them. There is one particular book that I highly recommend. It is by William Bonner and is called "Financial Reckoning Day: Surviving the Soft Depression of the 21st Century". Your local library would be happy to order in a copy if they don't already have one on their shelves. Doing some research can give you the confidence that you can survive and even thrive during times such as these.
One obvious thing we should do is curtail our spending, and even though we might find it hard to do, we should attempt to save money for the times ahead that might even be more difficult that now. We should only be spending our money on necessities. Two that come to mind are food and gasoline for our vehicles. We still have to nourish ourselves and most of us need to drive our cars back and fore to work.
In the same vein, we would not want to take on any new debt during a recession, even if we think we can afford it. In these unpredicatable times, we cannot foresee if we will still be able to afford that shiny new car sitting out there in our driveway.
Do a little brainstorming and think of ways to earn extra income. Do you have a few rooms in your basement that you could fix up and rent out? There is a huge demand for inexpensive accommodation right now with so many people losing their homes.
McGraw-Hill Research did a study and found that companies that maintained or even increased their marketing during the 1981-82 recession actually saw a 275% average sales growth over the following five years. In comparison, those companies who cut their marketing, only saw a 19% minimal increase over the same 5 year period. Starting a home based business during a recession is a great idea. The experts say that this is actually the best time in 70 years to build a profitable business.
This is actually great news!
Fluctuations in the economy are part of life but they do not have to affect us adversely if we are smart and just take a few specific actions. One of the fastest and most successful ways to build a business is through Internet Marketing working from the comfort of your own home. This way of doing business comes highly recommended by Donald Trump and Robert T. Kiyosaki who have both written about the fact that more millionaires are going to be created through network marketing during the next number of years, than from any other form of business.
It is my recommendation to you that you take this economic recession that we have found ourselves in and use it to your advantage. I wish you every success.
About the Author:
Jan Shimano was District Manager for Health & Welfare Canada for many years. She has also successfully represented clients at their Tribunal Hearings with the WSIB. She has had many years experience as a Nutritional Consultant and a Master Herbalist and is currently working fulltime as a Business and Health Coach and an internet marketer. She lives in British Columbia with her husband, Gerry.
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