I don’t have a crystal ball or anything like that but based on history I can let you know one thing it is going to get a lot worst before it gets a lot better.
Now you maybe sitting at your desk in a cubicle at your safe secure job that has nothing to do with the financial industry and thinking that this has nothing to do with you or will not affect you in any way, let me be the first to tell you that you are wrong.
The economy is a network of interdependent systems, finance, production, transportation, labor, etc. any big shake up in any one of these systems will cause a ripple effect throughout the entire economy.
For an example that everyone knows look at how the price of gas affected the entire economy. Since it cost more to ship the products the price of everything got passed on to the consumer, and the price of everything went up.
When 10,000 jobs are suddenly lost believe me it has a big effect. That means there are 10,000 less consumers in the market, which means fewer sales, less profits, and more job cuts, layoffs, downsizing, right sizing, or what ever you wanna call it, and then the cycle starts all over again.
I don’t want to scare anyone but what I am trying to let you know is that it is not a matter of will it happen but when. And it is time to start hedging your bets, time to start thinking of a plan B.
Everyone’s plan B should consist of starting a home based network marketing business, I would suggest a service business over a product business because the overhead that you would spend on product could be applied to marketing your service which is the life blood of any business.
Why network marketing? The two main reasons are leverage and residual income, these are the things that will get you by in tough economic times.
Leverage will spread the risk among many people, and if you have a product or service that has a global reach you have the entire globe as leverage. In an economic downturn you don’t want to be holding the bag all by yourself it may get really, really heavy. You can share the risk and reward of building a business amongst your network.
Residual income streams will mean that if you are unfortunate enough to get layed off, downsized, right sized or whatever you wanna call it you will have a steady stream of income that you can live on.
Now I am not a gloom and doom type guy and like I said I don’t wanna scare anyone but the situation is scary enough.
I want people to see what is happening and take action before it is too late and the bottom comes from under the economy.
What I don’t want is for people to wait until it happens and wonder what they are going to do after the fact.
But whether you wait until it happens or get a head start don’t say I didn’t warn you.