Whether you are an employee or entrepreneur, the recession we are in right now can affect anyone. With the uncertain situation in our world this year, many people are facing redundancy, and entire industries are collapsing. While some circumstances are out of our control, there are some things you can control to help make yourself “essential”. This will help you decrease your chances of being impacted when the economy or your specific industry is going through a rough time the next time and yes, there will be the next time.
Adopting an Entrepreneurial Mindset
Job security ultimately does not come down to education or even experience. Every day we see capable and intelligent people lose their jobs, falling into despair about their situation. The number one tip for any individual in the current job market, regardless of industry, is to truly adopt an entrepreneurial mindset. What is an entrepreneurial mindset? It boils down to two things. Being a problem solver and learning how to sell. You might be saying, “but I’m not in sales.” Learning how to sell not only means selling a product but also selling yourself and you have to do this on a regular basis by being your own cheerleader, in a tasteful and subtle way. Why does this make you “essential”? Regardless of the worldwide situation and your country’s economy as a whole, problem-solving and the ability to sell will always be a skill that is in demand. Although businesses may scale back during these unprecedented times, there are many services that will never entirely go away, as modern life won’t survive without them. Some businesses are thriving during this time, and if you have an entrepreneurial mindset and are willing to take a leap of faith, this could even be an excellent time to launch a business or change companies.
The global online education market is projected to grow to $319+ billion by 2025 from $187 billion in 2019. With an online course on any topic you can imagine, there are zero excuses to not be in constant learning and growth mode. There are thousands of courses to learn and understand sales and human physiology if you are willing to take this article seriously.
If you are currently unemployed, now is the best time to invest in yourself and improve your knowledge and skills. The more you develop your skills the more indispensable you will be to your employer, and even if your position needs to be eliminated, good leaders that recognize the value of talent will find a way to retain you.
Leverage Your Networks
During these difficult times, reconnecting with some of your old contacts and networks may be a good move if you are searching for a job. While unemployment rates are extremely high at the moment, some companies are still hiring, as some industries like grocery stores, medical suppliers, and technology companies are even more in demand than ever before. Don’t restrict yourself to one sector and think about the transferable skills you have from your current or previous jobs when applying and interviewing for new roles. Leverage the power of the internet to network more and network faster. Add value to your network when possible to allow you to extract value when needed. It must be a two-way street.
By having an entrepreneurial mindset and always learning, you dramatically increase your chance of being “essential” and not being impacted during rough economic periods like we are in right now. But if forces outside of control do cause an impact on your employment status or business, that is when you can rely on your network if you have been actively building your network and adding value. If you have been impacted professionally, stay positive, do the leg work, and view your circumstance as an opportunity. If you do, when you look back on 2020 a few years from now, you will realize that 2020 was a blessing in disguise. More importantly, stay safe and healthy as hindsight is always “2020”.
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