One does not have to look far to tell that we are in an economic downturn with all the businesses that are closing their doors and prices on the shelves of stores at all time highs. It is enough to make us pull our hair out and things don’t look very promising as we look at the economic indicators we have been trained to focus on as students of business.
So what do we look for to use as a sense of direction in business and investment opportunities when confronted with a tough down turn like we face today? It might surprise you to know that history has shown that even when times are hard there are always a small number of people or businesses that excel when others fail.
That’s right, look to history. It seems that there are rare individuals who fare better in tough times more so than good times. There is a reason behind this phenomenon where the elite people and business seize opportunities that present themselves and make fortunes. So how do they do it? How do these individuals rise above the competition and thrive in tough times? That is the question everyone wants to know. The truth is some of these people are just plain lucky. Then there are those who make their luck by relying on the financial wisdom that is a part of our business environment that others have exercised for years and years.
This wisdom is not always acquired at a university or place of higher learning but through life’s ebb and flow that defines us as individuals. You can find the assembly line worker who studies the economics of industry and the history that is revealed over time and as they grow in this wisdom their wealth keeps pace. You will find the business owner who starts out in one business and slowly moves to another because they see the market forces moving in a different direction.
Where do these people get this wisdom and how do others get in on this? It appears that they look at the cycles throughout time and learn from history repeating itself. If this wisdom could only be bottled, the ones who do better during hard times would be even wealthier than they are now. Or would they?
You see, when times are good anyone can make good decisions. It is the few who thrive in tough times that look for the advantages that all the others can’t figure out. So these wise individuals would not sell the bottled wisdom if they could because the fact is sometimes you don’t want company especially when success is the issue. Or perhaps they do it so well that they really don’t think about their “secrets”, they’re just too busy making things happen. Maybe if they told others, people wouldn’t believe them or find it too hard to look for golden business opportunities in a tough economy. Many people find it more comfortable to remain status quo and to complain than to do what’s out of the box.
Regardless, the reality is this wisdom does not come in a bottle or in pill form but in life experiences and effort. Learning from the mistakes made by others and by ourselves throughout time is the key. It is exciting that anyone can achieve this wisdom and it only takes your desire and effort to obtain it. Life is truly great when there are no boundaries that constrain us. Easier said than done but it is highly possible as many have made and found great business opportunities in what seems like a doomsday economy… go out and make a great thing out of a tough economy. Learn from the past and do the right thing at the right time for the right reason.