The Economy Sucks! How To Prepare Yourself For The Rebound

So we have known for a while now  that the U.S. economy is not in good condition, but in recent weeks we are seeing continued evidence that job losses are going to increase and the economy maybe be in a bad place for awhile. Recently several folks have written posts discussing this issue and how people should be demonstrating their value to their current employer. I believe that this is critically important.

However, I don’t think that is enough and think people need to focus on two other things as well: building their personal network to prepare for job loss and increase their personal skill set to get ahead as the economy rebounds.

Building Your Personal Network:
I am not going to sit here and tell you that you should have 1,000 linked connections and 3,000 twitter followers and you will be fine if you have to look for a new job, because that is bull shit.  I realize that people participate in a variety of online and offline networks that work best for them, so to give you a  list of specific must dos would be ignorant.  You should however, strengthen your relationships with people within your networks. So how do you do this?

1. Meet People in Real Life! – Yes it sounds simple but many people don’t think to do it. I would suggest picking a day or two each week and working to set a coffee, lunch, or drink meeting with someone from one of your networks to catch up with them and better connect with the happenings in their life. It is amazing the opportunities that will come from this.
2. Increase Your Online Engagement – I enjoy writing my blog, and I admit a could spend much more time writing for it, but I don’t for a reason. I want to have to  time everyday to consume new information and share it with others, comment on Blogs. From the stand point of online engagement I can’t think of anything more important then commenting on few blogs everyday and answering questions posed by your friends across different networks.
3. Ask For Introductions – This works for online or offline relationships. Most of us only interact with the same people day-to-day because we are comfortable with them. In economic times like these, that is not good enough. We have to get out of our comfort zones and ask the people we know for introductions to others in their network so that we can expand our own and develop new relationships.

Building Your Personal Skill Set:
Having a good network is critically important but if you can combine that with an improved and refined skill set then you really have the tools you need to succeed in tough economic times and vault to the head of the pack as the economy begins to improve.  You hear many people in the financial sector telling  people that have good cash flow to invest now when everything is low and as the market rebounds they will come out far ahead of others. I believe that we should apply this way of thinking to our personal skill set. Invest in yourself right now! This is a great opportunity to out work other people who are worried about the economy and have lost focus on developing their personal skills.

The economy will rebound (though we don’t know when), and when it does companies will be looking to grow and their will be sharp competition for the best talent and also the best opportunities. Be the person at the top of the list as companies again start looking for the best and brightest.

1. Read! – Yes it sounds simple to tell people to read, but many don’t spend time reading content online or offline that will help them improve their own skill set and knowledge base. If you haven’t please check out my post on How To become a Learning Jedi, which will give you the information you need to know to learn online. Also ask around to see what others in your industry are reading when it comes to books, magazines, etc.
2. Create Something – Learning isn’t enough, it doesn’t matter how knowledgeable your are if nobody knows it. You have to create something that represents you. It could be anything really, a blog, white paper, picture, a book, or any other medium that fits your industry. What is important is that you create something that showcases your knowledge and skills that is easy for other people in your networks and in your industry to find and review.

I am a big believer in hustle and I truly believe those that hustle in this current economic downturn will come out far ahead of everyone else.  Good luck!