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Why Pay Attention To The Economy?

9 June 2010 One Comment

Most people you interact with really don’t know anything about the economy.  At best, they follow the basic headlines such as unemployment sitting at 9.7% (of course, all of us know-it-alls understand that the 9.7% figure is complete crap!).  I often get into discussions with friends on the economy which turns into them just getting annoyed and telling me that I’m Dr. Doom or something.  So, why pay attention to it?  Is it pointless?  I don’t think so.

I think that understanding the economy will you help you the business world if you’re considering starting your own business as well as your career.  Understanding where the opportunity is and where it isn’t might launch you ahead and not understanding this might set you back five years.

Additionally, I think it’s important to understand the economic reality of our times.  What I mean by that is that economy is most likely going to struggle for years.  While, many don’t want to hear this and cup their ears if you try to tell them, this shouldn’t lead to discouragement but rather, awareness.  If you understand that things aren’t going to happen for you, you’re going to be more prone to take action yourself.  If you understand that to move forward in a big way, it’s going to take creativity and hard work, well, you’re ahead of the next guy.  The days of easy money for the masses are over.  The folks who will get ahead are the ones who understand the macro economic environment, know how to find and target opportunities (and yes, there will always be opportunities), and how to implement a gameplan to maximize those opportunities.

Soak it all in.  Read everything on the economy, on the industry that you’re in, on business, on technology.  Soak it up.  The more knowledge you acquire and the more things you understand, the better you’ll be.  Don’t stick your head in the sand because the economy sucks.  See it, understand it and adjust your plans.

Don't be this guy

Don't be this guy

One Comment »

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