Economic Revival the Entrepreneurs’ Way
In all likelihood, the dramatic recession of 2008 and 2009 will continue into 2010, and no amount of government intervention is going to provide a cure. Instead, Americans will use their own independent spirit to dig us out of this economic mess through innovation and entrepreneurship. More and more of us are recognizing the iffy status of corporate employment and seeking ways to take ownership of our work life and future. Entrepreneurship is the best path to recovery, whether the startups are independent contractors or fast growing gazelles, or any size in between.
Historically, startups that are considered gazelles account for most of the growth in private sector employment and revenue in the US economy. These companies can be launched in just about any industry but are most commonly found in whatever field is the hottest at the time. In the 1990s, most gazelle firms were high-tech companies on the dotcom highway. Now, the most recent gazelle-like startups are in the petroleum industry. Still, these high impact firms can be developed from just about any viable business idea. The primary factor that sets the gazelles apart from the rest of the startup field is their overall efficiency – they generate for more revenue per employee than either traditional ventures or most other startups.
Investing – Weathering a Major Economic Storm
Uncertain economic times rise and fall. These economic times can be particularly tough especially if you are not prepared for them to occur. There are many different types of events that can unexpectedly affect your financial security. Nobody knows when a major economic event will take place or what it will look like, but if you are ready and prepared you have a good chance of weathering the storm.
If you are trying to prepare for uncertain economic times, understanding what has occurred in the past can greatly help. In order to avoid common mistakes during these hard times, history provides us with clues. So what types of events create uncertain economic times and what clues can they provide us?
How to Survive Restructuring During the Economic Crisis
Organizations must implement change to offset economic challenges. It’s a hands on process that often requires total restructuring of the organization which invariably leads to a “Reduction in Force”. Making sure you aren’t one of the RIF’s (Reduction in Force) due economic conditions is not an easy task. If you are one of the chosen that remain with the company, you are blessed. Keep in mind that the immediate aftermath of any restructuring based on contingency planning and economic conditions is very stressful and can be fraught with uncertainty. Try taking the following actions to improve your chances of survival while improving your productivity and reducing your level of stress:
o Don’t wallow in guilt over friends that didn’t make the cut. It is not your fault. Don’t ask the question —- Why Me? You need to focus and put forth your best efforts to make sure you stay on the team. You can’t do that if you mope around in a cloud of self pity.