I've given this a great deal of thought in recent days and weeks due to severe economic crisis we are all in I am sure I am not the only one. My qualifications: I have a BA and masters in both International studies and economics and Public Finance, worked at the White House Budget office for two years and am a business and have been an economic development consultant for the last 4 years as well as an internet marketer. I also have been in the mortgage and real estate investment business.
The economy of the future will essentially be one of the survival of the fittest. The only secure employer will essentially be the federal government or government contractors. The health care industry, high-tech manufacturing, energy, IT services, education and security-related professions and the like will be the only growth industries. Any profession associated with consumer spending, finance or investment will be in severe decline. In terms of entrepreneurship, industries associated with the growth industries mentioned above will be well if their marketing and distribution costs are efficient. Industries that save businesses money or help businesses to be more efficient will do well.
MLM type opportunities will suffer since most of these are tied to consumer products and spending. Furthermore, it will be increasingly difficult for new recruits to finance expenditures since many people have used credit cards to fund their mlm businesses.
The best opportunities for entrepreneurs will be those with low up front costs, low marketing costs (use of social networking and internet tools are ideal for this) and have a high profit margin. Products and services that allow for profit per sale of at least $1,000 are ideal. Why? In order to live most anywhere in the US takes at least $3,000 per month even for a single individual so an opportunity that would allow for that type of income is best.
Will everyone succeed given the new economic climate? Unfortunately no they won't. In fact many who have never had an entrepreneurial mindset will have to be retrained. When I say retrained I ma mostly talking about their mindset which will have to be converted from an employee's mindset to that of someone who is responsible for their own welfare and well-being. For most people a radical departure. For these individuals, they will need an entrepreneurial opportunity which both retrains their mindset and gives them a business service that meets their financial needs and a system to sell it successfully. I know this is a lengthy utter but I think people need to be prepared for their economic future and what it holds in store for them.
Please pass this wake up call on to those in your sphere of influence.
Unlock the Creativity Within!
Bill
The economy of the future will essentially be one of the survival of the fittest. The only secure employer will essentially be the federal government or government contractors. The health care industry, high-tech manufacturing, energy, IT services, education and security-related professions and the like will be the only growth industries. Any profession associated with consumer spending, finance or investment will be in severe decline. In terms of entrepreneurship, industries associated with the growth industries mentioned above will be well if their marketing and distribution costs are efficient. Industries that save businesses money or help businesses to be more efficient will do well.
MLM type opportunities will suffer since most of these are tied to consumer products and spending. Furthermore, it will be increasingly difficult for new recruits to finance expenditures since many people have used credit cards to fund their mlm businesses.
The best opportunities for entrepreneurs will be those with low up front costs, low marketing costs (use of social networking and internet tools are ideal for this) and have a high profit margin. Products and services that allow for profit per sale of at least $1,000 are ideal. Why? In order to live most anywhere in the US takes at least $3,000 per month even for a single individual so an opportunity that would allow for that type of income is best.
Will everyone succeed given the new economic climate? Unfortunately no they won't. In fact many who have never had an entrepreneurial mindset will have to be retrained. When I say retrained I ma mostly talking about their mindset which will have to be converted from an employee's mindset to that of someone who is responsible for their own welfare and well-being. For most people a radical departure. For these individuals, they will need an entrepreneurial opportunity which both retrains their mindset and gives them a business service that meets their financial needs and a system to sell it successfully. I know this is a lengthy utter but I think people need to be prepared for their economic future and what it holds in store for them.
Please pass this wake up call on to those in your sphere of influence.
Unlock the Creativity Within!
Bill
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