Six months ago, the economy was roaring. Stock costs have a tendency tore going up, interest rates were staying low, and the state was down. a couple of months later, those indicators all were moving in opposite directions. Now, it's exhausting to inform from day to day wherever we stand. I'm optimistic that this state of affairs could be a short one, with long prospects for growth and good times. however, that doesn't mean that there won't be dips, generally deep, along the way. The question is: Are you positioned to require advantage of the nice times and navigate the bad? you have got to expect one furthermore because of the other. Fortunately, there are "shifts" you'll take that may serve you well throughout each. 1. Get out of debt. The faster the better. You can't profit from opportunities once you're encumbered in debt. And there are opportunities in both sensible times and in bad. In both, debt keeps you from benefiting from the opportunities that gift themselves. In bad, it magnifies the negative, as the value of the cash will increase and debt service becomes an ever-increasing portion of your expenses. 2. assume globally. not will we have a tendency to afford to assume and act locally. we have a tendency to should have a broader vision. we have a tendency to must believe that our vocation, our business, and our trade can operate in a world economy - as a result, it already does. 3. Be entrepreneurial. this can be the age of the free agent. albeit we are and attempt to continue operating in a larger company or organization, we must a minimum of think like an entrepreneur. we'd like to be "in-entrepreneurs." Seniority and skill don't have the worth that they did. manufacturing results - and profits - is what matters. 4. Become a capitalist. the rich own assets, and also the rest own liabilities - things that value cash to have and maintain. the capitalist economy isn't a grimy word. A capitalist, by definition, is somebody who owns assets - assets that manufacture income. Stock, equipment, and businesses are assets that generate income. In America, eighty % of all millionaires are self-made. Be one amongst them. 5. Be flexible. Things are moving at a fast pace. This demands adaptability. Things won't stay the same, nor can they're going back to the method they want to be. we have a tendency to should be willing to alter directions quickly. It'll dodge and weaves time. it's time to embrace change. Shift happens!
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Thank you