I just finished reading an article about the possibilities of 2009 and it really does come down to how you look at your surroundings. In December’s Newsletter, I talked about how much of the current financial crisis and economic downturn is being perpetuated by the news headlines blasting everyone with negativity.
Until people start getting their heads around the fact it is not the end of the world these headlines will continue to keep everyone down. You can live just about anywhere right now and there are some outstanding opportunities.
Think about this;
• Right now there are more available employees to hire than we have seen in the last five years
o Maybe you can finally find the right employees
o Maybe you can hire them for a reasonable wage
o Maybe your business can become even better with better people
• One of the first areas companies cut back in during hard times is advertising
o Your competitors are becoming less visible, decreasing your competition
o You can become more visible, increasing business
o Your business could grow
• The cost of many goods are actually decreasing as other companies struggle to grow, making it easier for you to upgrade, expand and grow
o Computers and electronics continue to get cheaper, now is an excellent time to speed up your systems
o Construction materials have dropped drastically, upgrade your showrooms or offices to outdo the competition
o Take advantage and buy when everyone else is trying to sell
It’s all a matter of taking a totally different perspective and realizing there are opportunities out here. These opportunities apply to almost all businesses, or if these don’t fit your business model, there are definitely other positive things about the slowdown. You just have to think out of the box, rather than follow the doom and gloom herd.
excellent thought provoking information….
2009 best year ever?? wow, you must be living on another planet..we are headed into a depression my friend..educate yourself on what is going on globally not just in your backyard.
when you say things are getting cheaper then you are talking deflation, delfation is very bad..as prices decrease so does your pay cheque and so does the rent if you are a landlord..once again education is key here.
jopo, I think you missed the point of the post. The perception people have is that this is the worst thing that has ever happened to the world. It is perpetuated by the media and the fear it instills in people keeps it rolling. I’m not saying it’s going to be perfect for everyone, but there are some huge opportunities for those who wish to pursue them.
We are not heading into a depression, most of Canada is going through a recession. The sheer amount of money being pumped into worldwide economies will be one of the triggers to help stop the recession from lasting much more than another 12 months at the most making it the longest recession since the last depression in the 1930’s.
Economies based on manufacturing (your ip indicates you are based out East) are in for a rougher ride than resource based economies like the West. Most of this has to do with the lack of expanding beyond our biggest trading partner the US and Canada as a whole not moving into more international markets.
Items like construction materials are getting cheaper due to the massive slowdown in construction. This along with the workers not being able to pick and choose jobs is promoting more price competition and reducing prices to their actual values. This is different from the deflation economists refer to where the dollar deflates in value and it’s purchasing power is eroded.
I stand by my article, 2009 will be a tremendous year for people who are taking action and want to control where their lives take them. Those who wish to blame their problems on the economy and the current recession are free to do that as well. I just choose to take responsibility for my life and not leave it in the hands of others not quite as concerned about my well being.
Its all about perspective. For those that buy for cashflow, its a non-issue. When the economy is strong, rents increase because there is full employment with higher incomes. When the economy slows like it is presently, as the prime rate decreases to stimulate the economy, mortgage costs for landlords decrease. Either way your rental income increases.
Another way to look at it is to see if the glass is half full or half empty. Yes the world is going through a recession, but Canada will be impacted less than other countries. And within Canada, Alberta will be impacted less than the rest of the country, especially the manufacture-based economies of Ontario and Quebec. With 172 Billion dollars of active and confirmed investments in Alberta, after the projects on hold are factored in, there is enough economic activity for investors to make profitable investments.