Five Ways To Dominate 2009
2008 is over. For many, that is a good thing. It’s time to turn your attention to 2009. Here are five ways to dominate the coming year.
#1 – Learn To Pick Stocks
2008 killed asset prices across the board, including stocks. The good news is that stocks are much cheaper than they were when 2008 started. Macro-economic forces drove down all stocks across the board, even healthy, thriving businesses. The good news is that as stocks stabilize, there is likely to be a decoupling of individual stock performance vs. macro economic factors. This means that if you pick winners, you can easily outperform the market.
I firmly believe that the U.S. economy is likely to struggle for years with zero to negative growth. But, remember, this is namely with regards to the macro picture. Individual companies can still dominate, make a killing and thrive. Your job is to pick these companies and have an extraordinary year of stock returns. Picking the right companies can easily result in a portfolio that gains 50% and up in 2009. This isn’t easy, but we’re here to help you.
#2 – Get Promoted While Others Are Worried About Keeping Their Jobs
If you have positioned yourself correctly, your job is safe. You are in your 20s (which means you are relatively cheap to the company) and you have skills that are needed at your company. Now, is the time to dominate your job like never before and score a promotion amidst a weak economy where others are worried about getting laid off.
With shrinking work forces, there are more opportunities for hard-working, eager employees to take on new, larger responsibilities. These are opportunities to shine. Make sure you deliver when you take on higher responsibilities and you are likely to be rewarded.
On a side note, make sure you are always learning new skills at your job. Your skills will stay with you no matter what happens with your current job.
#3 – Start A Second Income Stream
I’ve hammered this concept through the heads of my readers now for almost all of 2008. Second income streams provide income diversification, additional cash flow for savings or whatever else you desire and give you entrepreneurial experience. It is not difficult to start a second income stream with regards to ability or capital requirements. It is, however, extremely difficult to start a second income stream with regards to determination and time.
Starting a second income requires a major commitment which will mean you have to make trade offs. Perhaps, you social life will go down a notch. Perhaps, you need to manage your time better (which leads me to my next point).
#4 – Push Yourself To Manage Your Time Better
This is absolutely huge. There will be no bigger impact to your entire life in 2009 if you can learn to truly manage your time to maximum effectiveness. Be more productive during your day job and be more productive at home.
This might mean you cut out several shows from your weekly television watching routine. One thing that I am attempting to adjust is my sleeping pattern. Currently, i think I actually oversleep; I sleep about 9 hours a night typically. My target is to sleep about 7 1/2 hours each night. This will allow me to get more done in the mornings before work (such as work out, have a devotion, etc.). If you are single, try staying up an extra hour each night and waking up an hour earlier each morning. At first, the adjustment might be tough, but I bet you will be surprised how well your body eventually begins to handle your new sleep pattern.
#5 – It’s About Time To Execute Your Big Plans!
It’s New Year Resolutions time. Each year, the majority of people make big goals and big plans for the new year whether it be working out, finding a new job, or whatever. The problem is most plans don’t last through January.
You can dominate the new year if you stick to your plan and follow through with its execution. Whatever your goals and plans are for 2009, make sure they are attainable and have specific steps already detailed for you to reach them. Also, put a time limit on your goals. Don’t establish a vague goal with no time limit such as, “I want to be more healthy in 2009.” That’s stupid. Change that to, “I want to lose 10 pounds by March 31 and drop my cholestoral level to X”. Or, “I want to launch a second income stream by February 1st and turn a profit by April 1st.”
Be specific and follow through.