May 28, 2011

When all seems bleak

Since the term global economic crisis was first spoken of in the media there have been several major questions that have either been ignored or simply remain unanswered.

The first is if it is global why are many countries seemingly unaffected?

Secondly how is it that certain US based companies can record record growth in the midst of this 'crisis'.

The third point that needs to be considered is based on a quotation that has been spoken in business circles associated with those who ask the question.

"What recession?"

Just because certain governments and certain corporate sectors are feeling the pinch doesn't mean that everybody is. 

That quote says, "don't wait till you're thirsty to dig your well!"  

Sound advice.

Two points are worth considering here, the first is to have a plan, a goal and a vision of what you want your future to be.  Just a generation ago people had savings and investments that generated passive income. While it may not have been enough to sustain the full lifestyle it could at least buy time and allow the focus to be on recovery.

There are three case histories to consider here.

The first is someone who holds a trade qualification and chooses, through further studies, to remain with the industry and moves into an area where incomes are substantially higher than would have been had they remain 'in the trade'.

The second is developing advanced technology and has gone out on a limb financially to see it in the marketplace.  The best part of this exercise is that the process has lead to the capacity to own a multi million dollar business.

The third, and by no means as grandiose, is an 89 year old woman who makes produce at home and donates it to charitable causes. The very causes that are dependent on donated funds to provide a safety net for the those who have been the victims of circumstance.

Several years ago an accountant was heard to say that there are three kinds of people in the world. The incompetent, the unfortunate and crooks.  Not everybody who is down and out will stay there. It is a question of vision, passion and a desire to get things done.

The immediate challenge is to have enough, then to provide some backup and then help others to do the same. 

That is the charter of Economic Vision.