Monday, July 25, 2011

The Current State of the Economy

It's July 25, 2011.  Last month's unemployment rate was 9.2%.  As individual and family budgets are shrinking, people are curtailing their spending.  Unfortunately, businesses are doing the same thing, because like individuals and families, their budgets are likewise shrinking, and so are their expenditures.  There are even calls in the government to cut spending for the exact same reason.  Unfortunately, as a result, more layoffs are taking place as businesses find ways to do more with less employees.  If, on the other hand, you were one of the ones let go as your employer's business, by economic necessity, became more efficient, you know that just because your employer's need for you went away, your need for your income did not.  However, you also know that just because your employer can't use your skills doesn't mean that they don't exist.

Since this is not an isolated phenomenon, we're going to find more and more of these businesses hiring fewer and fewer employees, which will not compensate for the jobs that are lost.  Clearly the only way to compensate for this is if new businesses are created, even if that new business starts with one person.  If a lot of these skill sets are still useful in the workplace, and people can perform those skill sets as an independent contractor rather than as an employee, that will help to rebound the economy.  However, the challenge is that while many of the laid off employees have valuable skill sets, many of those individuals' skill sets do not include MBA caliber marketing expertise.

Of course, if you're reading this blog post, you probably already recognize all of the above.  You're just wondering how to tackle the problem of finding the clients that need you (and can afford your services!)  The better you can automate tools to help you find customers, whether it be a website, a mailing list, a lead generation system, or even an answering service.  Personally, I would start with the website, as it gives your clients a place to come for information about your services, and you can even show what you can do in addition to just telling.  And if you can manage your own SEO, you can even be found in Google's search results, which can allow you to be found by those who are searching for what you offer.  (Of course, I wouldn't be mentioning this because I offer such a service, would it?  No, how preposterous!  ;-) )

On the other hand, if you still need to network in person, I'd recommend a book I just recently read called Smart Networking by Liz Lynch.  Go ahead, it's okay.  If you're a shy person who doesn't like going out into the world to networking events all the time, this book is still - no, it's especially for you!  This will help you form a plan to build your network, get more referrals, and get back to doing what you love.  Or get started doing something you love!

As I'm writing this, there are thousands of people who are out of work who want to be working.  There are thousands more who are working, but who aren't doing what they want to be doing, or they aren't generating as much income as they wish they were.  If you're one of those, I hope this helps give you the confidence to move in a new direction and get to the prosperity that is your birthright.

Good luck!  I believe in you!  :-)