Clifford tells you how to come out ahead during a financial crisis.
IT'S NOT TOO LATE!
Clifford and Norm's
New Year's Resolutions
Job Search Advice:
Pick The Right Industry, Fool
How can you come out ahead in a financial
Well, it finally happened. The economy is now a total disaster - or so we
are told by the media. You were worried about getting the job you really
wanted BEFORE the recent financial implosion - should you worry even more
now that it's happened? Absoutely.
We are truly in a terrible mess.
America is borrowing money by the truckload, begging the question, will we
ever be able to pay it back? Doubtful.
Today, we are being told the
financial system, with its free-wheeling repackaging of mortgages and other
acts of corporate greed, will continue to head south for at least a year, if
not for the rest of your career, whichever comes first. Is that
actually likely? Yes.
OK, now for the good news - the economy runs
in cycles. You may not be old enough to remember downturns gone by, but they
happen, and then things get better, as they surely will this time. It
just may not be soon enough for me to pay the rent on time next month.
I am known as being the nervous type, and I have been warned by my
friends and family that worrying is something I should avoid. I say,
the heck with them. I am going to worry no matter WHAT anyone tells
me. I see that worrying takes a toll on me every day. I wake up,
look in the mirror, and see the gray hairs coming in. In a few months,
I may be able to play old people in movies without the use of makeup.
Worry But Be Smart About It
If you are worrying about finding a new job, go ahead and worry, but
do not let the bad news dash your spirits totally. There's nothing you can
really do about the economy, unless you happen to be chairman of the Federal
Reserve, and even then, your effectiveness is in doubt. Instead, think
about what you are going to do to beat the system - act smart, and you can
and will weather the storm.
In every down market, there are many companies that are losers but there
are a few that are actually winners. Your mission is to pick one of the
winners and get on their team.
Today, it is more important than ever for you to pursue jobs in
industries that look strong for the long term, or ones you think will do at
least better than average in the years ahead. This will require a lot of
research and a little imagination. For example, we all know the
environment is a mess - and fuel prices have gone through the roof.
Why not look at companies that are doing research into "green" technology -
a great bet for the next five years.
Alternatively, we all know that genetic engineering is a hot area - why
not look at companies that research DNA-based solutions.
Also, in times of
recession, companies that sell cheap alternatives are going to do better.
A year or so ago, Wal-Mart was criticized for being too downscale and was
thought to be over and done with. Now, Wal-Mart is doing great right -
people want to buy cheap!
If you think times are going to be bad for
awhile, why not look for companies that actually do well in bad financial
times. As a management recruiter, one of my clients is a firm that performs
real estate property valuations for other companies. With all the real
estate that will need to be sold off in the coming months, think they'll be
kinda busy? You bet!
These examples are just the tip of the iceberg.
As you ponder your possibilities, continue to worry - but also, put your
thinking cap on. Think trends - think contrary - think clever - and you just
may land a job that will actually make you a success - in spite of the bad
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