Economic Downturn - Being in Winners Side

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There are the two sides of economic downturn: the left side and the right side. In the left side there prevail fear, nervousness, everlasting stress, worsening financials, debts, losses. The right side is the side of winners who see great opportunities where the others see only crash and crisis. When reading this article, you can get an insight of the way the ones in the right side differ from the ones in the left side, and how to be in the winners' side next time (and for always).

At first, let's take a look to the left side:

* Fear: for what and why? There are clearly perceived risks of loosing job and falling into financial difficulties. There is a fear for worsening living standard and downward move in the ladder of social statuses. Why is that? It's because people in the left side are not used to face their fears, change their habits, think out of the box, ask questions and act differently. Nobody has said to them that for being better prepared, they should practice it also during good times. They did not see or did not want to acknowledge it by themselves, as it was comfortable.

* Nervousness and everlasting stress: from where it comes from? There were lots of bad decisions made during good times, there has dominated negligence and inaccuracy in some things having fundamental importance ... because everyone was successful anyway. And all this comes to the daylight now. Everyone in the left side is trying to make quick fixes and is forced to deal with pressing problems. But there is no shortcut to the place worth to go; there will be only more mess. So, the natural consequences of this type of last-minute activities are stress, burnout, crisis management, always putting out fires.

* Worsening financials, debts, losses: the party is over. My house bought with cheap bank loan (and bigger than I would like to have now) has turned out to be not an asset at all. Instead, it's worth less than the outstanding loan amount for that. Besides, rising interest rates, zero-bonuses and lower salaries make the situation even more complicated. Bad credit history and no new credits combined with the clearly perceived risks ... this is the outlook.

If you now think about the ones in the left side, it becomes quite obvious, who are the winners in the right side (the more of the following characteristics you have, the closer you are to the winners):

* The ones having high personal standards, clearly defined objectives and result-orientation: especially during bad times, in order to successfully survive, companies need to keep their best people; also, for this type of people it's not hard to switch the track.

* The ones having strong personalities: strong personalities will not be caught by overall panic and remain cool-headed also during difficult times; they do not have any doubts regarding their abilities whatever happens.

* The ones having adequately managed their finances and not bearing the burden of bad credits: the people with strong financial basis (incl. sound financial education) are free from the primary fear of so many of the others: of losing their job and the only income; they also have a good starting point to prepare for the economic upturn.

* The ones who besides financial capital have also invested into social capital and built up their social networks: whatever happens with their financial capital, they still will retain (and have even possibility to further strengthen) their position in the community.

* The ones focusing to the positive and to the opportunities (instead of focusing to the negative and to the risks to lose as losers do): success (or failure in case of losers) can be explained by the well-known law of attraction (the basic premise of this law is that like attracts like).

Thus, for being in the winner's side next time (and for always)

:1) be not one-sided in your knowledge and skills but seek for a comprehensive education (beside academic and professional education, it also includes education on personal development and -leadership, financial and social education);

2) define your values, principles and priorities you can rely upon in all kind of times;

3) decide, what you should decide, and do, what you have decided to do;

4) remain focused and moderate;

5) look for positive, look for greatness, look for opportunities ... and you will attract what you are looking for.

To summarise: in being in the winners' side there is no magic, but just simple logic.

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