Although these are unprecedented times, whenever there’s any crisis in your world you should always ask yourself ‘What’s the gift’?
Although it’s not always clear at first and you may have to dig deep, there’s always something to gain and an opportunity for you to grow and develop in a positive way.
In this crisis we all have the opportunity to get aligned in all aspects of our lives – Health / Wealth / Self / Social.
The first step is to acknowledge and accept that there are many external factors outside your control.
But then the trick is to identify what you can control and take action in those areas.
Although there are many variables that we don’t know about the impact of the current economic crisis, here are a few things that we do know;
- A major recession is now not only inevitable, but certain
- Millions of job losses are expected throughout 2020
- Experts are now forecasting the economy to shrink the most we’ve seen since WWII
- We can expect the worst economic pullback since 1929
- The crisis is NOT going anywhere soon with many governments expecting this to last 18+ months
I could go on and on but you’re already probably well aware of the situation from the news channels.
So, what happens next?
Well, as with any recession, we’ll survive.
However, there’ll be big changes and, of course, winners and losers.
A recession forces companies to re-invent themselves, and generally move towards more digitalisation. They invest in technology, aiming to increase productivity while keeping costs down, primarily payroll. They look to find efficiencies in how they operate and automate wherever possible – maybe you’ve heard the saying ‘Necessity is the mother of invention’?
The inevitable consequence of this shift is that companies either lay off staff or don’t hire as many as they employed before the recession.
That’s the ‘Traditional Economy’.
But what about the ‘Digital Economy’?
As One Door shuts, Another Door Opens………
As you can see from this infographic, the Digital Economy experiences a boom every time the Traditional Economy takes a hit.
And that’s exactly what’s about to happen now, so does that give you an indication where your future could lie?
So What Can You Do? – The Opportunity
The first piece of advice is ‘Don’t panic!’ – easier said than done, I know, but panic serves no purpose.
Instead, ask yourself ‘where do I want to be in 1 year’s time?’
Then, make a plan and commit to re-skill yourself over the next 12 months.
1. Invest in yourself:
Whatever that looks like for you, from educating yourself to self care, make sure you are allocating time for you.
2. Diversify your skills, up-skill and reskill:
Take this as an opportunity to learn new skills that allow you to insulate yourself from an employer shutting their doors or situations like this, which frankly is getting a lot worse. This makes you more valuable to other people and to yourself.
3. Be empathetic:
Ask yourself “Where can I be more empathetic and help others?” By being empathetic to others it takes the focus from being inward and focusing on ourselves
4. Seek to serve others:
By staying inward and focusing on yourself you’re digging yourself into an emotional hole. The best antidote to anxiety is to help others that are less fortunate. And this is how we grow and get through this together.
Opportunity Take Your Future Security into Your Own Hands
If you’d like to know more about how you can learn the skills needed to make your living online in the booming Digital Economy, click on this link.
You can start at any level, even with zero knowledge, and grow at your own pace within a supportive community of mentors.
I hope this blog has helped you and brought some positive thoughts back to your mind.
It’s up to you to now turn those thoughts into actions…..
Good luck with whatever path you follow and take care of yourself and your loved ones,
PS Check out my latest YouTube video below on this subject…..
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