When it comes to business and economy, bad news is pouring like rain;
go to any news website or social bookmarking website and you will find
scores of links telling you what a mess we’re in. Businesses are
crumbling, banks are failing, real estate is dissolving, and a new study
has revealed that 80% Americans are stressed due to the prevalent
economic conditions (Source).
So when it seems the skies are falling, I know it may feel like rubbing
salt over the wound if I tell you such conditions can be used to your
benefit.
I’m not saying take financial, emotional or physical advantage of
your family members, friends, colleagues, or neighbors. Whether we like
them or not, adversities are like vaccinations that make us stronger as
individuals, as a society and as a civilization. It is through
hardships that we become more perceptive towards human values, towards
togetherness and towards the beautiful world around us. Whenever we have
grown as people it has been through hardship. Unfortunately the law of
survival of the fittest manifests most prolifically during such times;
some people survive and come through victorious and some don’t (the recent family-suicide-cum-murder).
So what makes you victorious, what differentiates you from those who
succumbed to the pressure and couldn’t make it? You are victorious when
you can use even adversity to your advantage. Here are a few things to
consider:
Connect With Your Loved Ones
Connect With Your Loved Ones
When work is less all of a sudden you get ample time to connect, with
yourself, and your loved ones. This may seem esoteric when you are
worried about paying the bills at the end of the month but worrying and
causing distress is not going to solve your problem. In order to
confront the adversity you need to be fit, both emotionally and
physically.
A few days ago my wife read in a Harvard Business School article that
families come closer during economic hardships. This is not a selfish
act because this is what families are for. You are worried about your
deteriorating finances because of your family. For example, if I am
alone I wouldn’t mind sleeping on a park bench but to think like that
about my child is a nightmare. So when finances are tight it becomes
the business of the entire family. Take into confidence your children,
your spouse, even your parents and brothers and sisters. Never, ever
withdraw into a mental cocoon because this can be disastrous. There is
nothing to feel ashamed of because you are not directly responsible for
the current economic mess. Yes, you are responsible about how you
tackle the situation.
Talking and brainstorming somehow always seems to work and new ideas
crop up out of nowhere. Spending time with kids is always relaxing and
it energizes your spirits and helps you refocus. Having long walks with
your partner or spouse lets you bond and see the warmth of the
relationship that you might have been ignoring while living in the fast
lane of commerce.
You can also organize neighborhood gatherings and outings that don’t
cost much. Share your resources as much as you can whether it is food,
lodging, transport, money, or love. Strike up new friendships. If people
stand for each other no hardship can be daunting enough.
Connect With Yourself
Have you been ignoring yourself due to work pressure? When we are
busy conducting business and earning money we often begin to ignore our
physical and intellectual health. During the downturn you can spend the
time giving some good exercise to your body and your brain. Read books
that you have been thinking of reading for years. Acquire some new
skills. Go for long walks and do some exercise to make your body
flexible and muscles stronger. Start eating food that doesn’t cost much
and that is good for your brain and your body (surprisingly healthy
food is always cheaper compared to unhealthy food).
Rethink Your Priorities
A sudden halt in our day-to-day life gives us a chance to look at our
priorities from a new angle. What is really important in your life?
Your lifestyle, your loved ones or your values? If you are distressed
because you won’t be able to afford the lifestyle you have had so far
then you surely need to re-evaluate your priorities. Do you really need
such a big house in such an expensive neighborhood? Does your child
really need to go to that Ivy League college? Do you want to drive that
cool vehicle for the purpose of transporting yourself and your family or
to show off? Does it really matter if you can no longer afford that
expensive liquor and food? Once your priorities are clear you will be
surprised to know that things are not as bad as they had seemed a few
hours ago.
Consider Alternative Careers
Haven’t you been always thinking of starting out your own pursuits
and work for yourself rather than under someone else? Maybe this is the
right time to give it a try. Fine, you may not have the required
money, but doing something is always better than doing nothing as long
as that something is not destructive. You can even collaborate with a
few like-minded people, pool up resources, exchange skills and talents
and be as creative as you feel like.
Expand Your Market
If you are a freelancer this is definitely the right time to expand
your market and explore other regions of the world. Don’t restrict
yourself to one country even if it is your own country. In case you are
promoting your business through your website then you can focus your
efforts towards optimizing your website so that it begins to get traffic
from varied resources. If your current traffic is not generating
enough business for you then you should start exploring other traffic
sources. This will also help you when the hard times are over.
Do Something Socially or Religiously Relevant
Doing something for others without expecting any return always brings
you peace and contentment. Cater to your spiritual side – visit your
local place of worship and touch base with the supreme one. Refresh the
fact that this world is merely an infinitesimally tiny dot in the
infinity of the universe. You may feel humbled and peaceful.
Similarly visit your local non-profit organization engaged in helping
underprivileged communities. You will discover how bravely people face
their day-to-day struggles like not having enough food to eat, not
having warm clothes for winter and not having a roof over their heads.
You will suddenly discover how small your problems and challenges are.
You may decide that they are in fact totally insignificant.
Develop a Habit of Saving
I know saving is the last thing that comes to your mind when you are
running out of money but believe me this is the right time to start
saving. Although you must be regretting the days when you could have
saved but you didn’t, it hardly matters now because nothing can be done
about the time that has gone by. What matters is what can be done rather
than what could have been done. Even if you can spare a few dollars,
save them somewhere.
The things mentioned above may not immediately solve your financial
problems but they will certainly go a long way in keeping you strong
emotionally and mentally and make you tough to handle tougher
situations.
Do you have any advice for using the economic downturn to your advantage? Please share your thoughts in the comments below.
0 Comments: