CAPITALIZING ON A WEAK ECONOMY

Businesses are looking for ways to increase its bottom-line by streamlining cost and looking for new business opportunities and reducing staff. The state and counties are seeking ways to cut expenses to balance its budget. In May 2005, the State of Hawaii boasted the lowest unemployment rate in nation. In September 2009, the state’s seasonally adjusted unemployment was at 7.2%, and the nations were at 9.8%. More homeowners are homeless and breadwinners are jobless. Are there any opportunities or HOPE in such a fragile economy?

The answer is yes! There are more opportunities now than there was when the economy was thriving, and even though surviving this downturn seems hopeless, there is HOPE. When I was in the corporate world some years ago, I read this book,” Who Moved My Cheese”. It is an amazing way to deal with Change in your work and in your life by Spencer Johnson and Kenneth Blanchard. There are many other books out there, but I like this one because it is easy to read and it applies to everyday life. Like everyday life, we too often get stuck in our comfort zone and never seek new ways. We keep doing the same old thing over and over and keep getting the same result until the cheese is gone. The actions or lack of actions taken by businesses in the public and private sectors and by consumers are the reasons the economy is such a mess.

 However, that mess has created many opportunities for those who did not follow the spending trend when the economy was “thriving” and prices were inflated. They are buying and investing now. They are buying businesses and real estate and taking advantage of opportunities why the majority strives to survive. But, there is still HOPE by thinking positive and adjusting what we are doing to opportunities. For example, if you are a business, you may have to expand or change your market; if you have lost your job, you may have to use your skills and knowledge to open your own business; if you’re strap for cash, trying cutting cost by negotiating your lease or mortgage and reducing other expenses.

 A quick fix of the economy by taxing businesses and home owners is not the solution. This approach would cause more jobs and homes to be lost. We have to find new opportunities and keep chasing new cheese.