Archive for December 9th, 2008

The change in our economy

When I was younger, it was considered the ‘done thing to do’ to go to school and work hard to get a good education to make yourself as attractive as possible for big companies to come and sweep you off your feet. I often remember my teachers preaching to me about how I would need to go to Uni to do a graduate placement with a major organisation so I could guarantee myself financial security for my adulthood. Fast forward 10 years and not even the bigger companies are safe from the turmoil enveloping our economy.

I was fairly lucky in that my dad realised the values of playing the big corporations at their own game, in that he worked for them, worked his way up, learnt as much as he thought necessary and then setup on his own. Now although this was still considered risky back then, there is no doubt that in this day and age, there are numerous benefits to be had, due to the advent of technology available to us. When he setup, he had to leave the security of a well paid job just to gain the knowledge and put together the processes that would last a decade. Now, with the internet, it is possible to passively put the seeds in place to flower into something that can subtly compliment your regular income.

So when did all this change and how? Well there’s no doubt that the advent of the Internet sped up the process. More people were able to find knowledge, funding, clients and expertise within their field to set-up-shop and create a business. Due to the lack of bureaucracy, these companies are more flexible and dynamic, as they are driven by a passionate management group, as opposed to a board sucking out more than they put in. And in this current climate, a company that is driven, dynamic and flexible will stand a lot more chance of weathering the current storm., however long it lasts.

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