Oluwafisayo A
Hulkestates
In part I of this series, I told you 3 things.
1. Do not panic
2. Do not abandon your long term plans
3. Do your job
I will start part II from number 3 today?
3. Do your job
When things go bad and things get tough, people tend to forget to do their jobs, then to chase shadows and end up in holes bigger than they ever anticipated. Your job is to sit down and figure things out. Your job is to do what you do better, more efficiently and faster. That is your job!
If you run a business, put yourself into it. If you work in a private organisation, make yourself valuable and let that organisation feel your impact the more.
A few years ago, I told a young man who happened to sit with me this same thing. Today, even when the company he works in has laid off almost all the workforce, he is still standing and still has a job.
Do your job!
4. Pay attention
Every adversity has in it an equal seed for blessing and one of the jobs you need to do is to pay attention in this period.
Let me remind you that no matter the direction of the market (either the market goes up or down), someone ALWAYS ends up making mney.
This is the truth and that someone is usually those who pay attention. If this current economic situation persists, new trends will emerge, new business channels will surface and new millionaires will be born.
For instance, we are already seeing a massive exodus to farms and farmlands. More and more farm properties are being purchased. Just yesterday a close friend and a consultant on our farming project told me of a man who just purchased 200acres of land for agriculture! One man !
And the same man is making further moves to acquire the 2nd 200acres.
Pay attention!
5. Seize opportunities
Let me refresh your memory a bit. When GSM came way back. Do you remember those who went into partnership with the likes of MTN way back?
Do you notice that today, they are still growing strong simply because they took advantage of the opportunities and then rode the waves? This is why you must seize opportunities in this period. Opportunities are surfacing even as I write this AND believe me those that seize it will smile to the bank.
For instance, just the other day we saw someone who loaded 3 trucks packed full of cassava stem! Check the price of a congo/mudu of garri.
6. Prepare for growth
This sounds counter intuitive but this is the time to prepare for growth. If you have followed the trend of this series, you will notice how I always hammer on the fact that the economy always moves in a wave pattern.
It is always a series of crests and troughs; highs and lows. Therefore, I can tell you confidently that after a low, there will be a gradual journey towards a high and this is where a lot of people will miss it.
Listen.. I am not a prophet, so I cannot say specifically when any of these events will happen but the best advise I can give you is to prepare for growth and here are 3 things you should start doing now!!
1. Plan your retirement
2. Create structures around your life and business
3. Improve yourself
Aagain, I am not a prophet but I have said it before but there is a very good chance that this current economic situation linger for some 4-5years (I have said this before - I hope I am wrong)!
If that is the situation, then it means the following are true.
If you are 40years old, you would be 45 when things start clearing and by then you would have lost like 5years of planning and execution time.
It means you will be forced to wait till 50 before you can take any action.
This is why I recommend a concrete course of retirement planning for everyone reading this today. I will cover this in detail later.
7. Improve yourself
When the economy is bad, surprisingly, education sells!
Here is why.
Companies will stop employing. Others will lay off workers. Cash gets tight. Unemployment rises.. Then people THINK when they get better and bigger degrees, they will get better jobs. WAKE UP BRO!
This is 2016 not 1987! In 2016, employers are no longer looking at the certificates. People are now looking for skills!
Go to places like Lynda.com and Youtube online and get skills. Go to the welder beside your house and learn to weld !! Learn to make suits and to make bridal gowns and to organise parties..
Improve yourself. Only people who do this self upgrade will be relevant in the near future.
I am not writing this for the sake of writing. I have personally learnt 2 programming languages. I have enrolled to learn the 3rd programming language. I hope to start this fully sometime in October after our Agric retreat.
And that is not the only thing I enrolled for!
8. Import your money
This is one of the best time to import money and I encourage everyone reading this to look for a way to earn foreign currency part-time WITHOUT quitting your job.
What I mean in earnest, is that it is time for EXPORTATION of everything exportable and here are some of the things to look out for.
1. There are more than 400 exportable agric items in Nigeria from pineapple down to bone hoof and horns
2. You can export your skills - graphics design, writing, proof reading, music, programming, etc
What I am saying with number 2 is that you should stop wasting data and GO ONLINE to earn! Gbam!!
The goal is simple. Over the course of the next 1year, you can work hard to have like 10 online stuff that gives an equivalent of N1,000 per day and you would have created N3.6m/year.
This should be your line of thinking now!
I will stop here today, I will continue with part III of what to do when the
economy is bad.
Enjoy!
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