Globally financial giants continue to crash on the deck with resounding dumps, as the financial world reels in shock and horror. There are universal scenes of confusion and lack of self-assurance not witnessed since the Great Depression in the early 1930’s. This is not the point in time to panic and react emotionally and allow your emotions to take over control the day.
What are the Facts?
•The giants of the finance world are the ones who have been cut off at the ankles, because of their over-borrowing and being unable to pay it back. They might be sobbing in their caviar, but when 18 billion becomes only 3 billion, who is counting, apart fromx the filthy rich?
•Numerous average business owners are cringing beneat the bed covers shaking in fear.
The present circumstances have been compared to economic Darwinism where survival of the fittest is the rule of thumb. You can choose to either drown in doom and gloom, or survive.You have a choice.
The prominent key to your survival is how you manage your money. Okay, that sounds like the same old stuff, but in this new regime you need to rethink everything. You can survive the financial crisis, but it will probably take a few adjustments along the way.
•The first and most important principle is, don’t panic. Don’t respond emotionally to the crisis. Operate from the head, not the heart in this situation.
•Secondly, you need to evaluate the universal situation for yourself, not simply accepting everything the media hype is handing you. They will give you the story the way that creates and sells copy. Always remember that bad news gets attention, not good news. Take time out to do your own research.
•Around the world we have evolved into a consumer society on a larges cale, so take an unbiased look at your personal circumstances and re-evaluate coldly and calculatingly. Cut down on expenses wherever possible. Streamline where you can for more efficiency and cut back on wastage. Spend money wisely and save it wherever you can.
Now is the time to split your wants list from your|the needs list. It’s great to have dreams, but they are something you must work towards.
Ever day you are inundated with a million different ways to spend your hard earned cash as quickly as possible, particularly if it involves credit – where only the bank is the winner! It’s time to realize that credit is a product the same as any other form of commodity. It is continually sold to you.
Yes, in some places people are losing their jobs, but that can occur in any era. Be prepared to diversify. So what if you have had the same job for the last several years? You have other talents, some you are not even aware of. Adjustment is the real key to your survival. Search out new areas you can break into. Look for what areas are still progressing.
“It's not the creative entrepreneurs but the large companies that are being challenged. Creative companies will survive in any condition|,” said professor of marketing, Jean-Claude Larréché when reporting from the World Knowledge Forum in Seoul, South Korea.Sir Richard Branson said, “An enormous amount of opportunities will emerge as the result of the current world economic turns down but companies need to be nimble in order to be able move quickly and decisively to make the most of these opportunities.”
This is not the time to creep away in fear, or try burying your head in the sand and expect it to all disappear. This is a time to stand up and take positive steps forward. Find out what your options are, plan carefully and step forward boldly. When things get tough, the tough get going.
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