A friend recently posted this query on LinkedIn:
It's been said "the economy is starting to turn around."
Is this true? Do you see it happening? What do you think?
I thought that I would duplicate my response here, because I'd like to have a discussion about implementing some of these strategies:
I believe that I have seen a 10% rise in ad prices in the last 30 days. That could be an encouraging sign.
I think we'll see a temporary boost to the apparent economy over the summer, when the government plows billions into summer jobs programs. In the fall, I think we'll see employment numbers rise into the double digits.
Overall, I think we're looking at four to ten years of severe economic pain. The U.S. government is currently working hard to make it impossible for American businesses to compete globally. It's not just the cost of American workers, it's the bureaucracy required to maintain them. Compliance costs are rising faster than any other costs.
All that being said, I think there is money to be made by anyone who makes the right moves. At the bookstore earlier this week I came across almost a dozen new titles on how to survive the economic crash and how to retool after being laid off. Clearly, writing a book is a good strategy. <grin>
Companies and non-profits that exist as extensions of government will also benefit from the current firehose of deficit spending. It's not just federal government either, the feds are funneling a bunch of money through state and local governments.
I think that offshoring is an important key to a successful strategy. Google recently moved their AdSense division to Ireland. Microsoft has gone public regarding their consideration of moving overseas. The Obama administration has announced it's intent to punish American companies for doing business overseas, so the natural move is for businesses to move overseas and create American subsidiaries.
Any period of change brings opportunity. From the winter of our economic debacle will, eventually, arise a spring of new growth. We just have to figure out what will grow in this new economic climate -- and where to plant.