Which businesses are booming in this recession? And where are companies funnelling their resources?
Certainly in the UK the Government is ploughing millions of pounds in to training to save the economy and Obama's $ 825 billion plan to jump-start the economy and create or save up to 4 million jobs with an additional $ 102 billion going to help victims of the recession with unemployment insurance, health care, food stamps and job training. (USA Today 15/1/09)
Output is falling and firms are laying-off staff or going to a shorter working week, everyone will need to spend time on education and training so they can keep their ahead of the game or they will end up having even more free time on their hands.
Training and education businesses see all this change as good for them and their staff. Many trainers and training companies which are funded through government indicatives, are training people back in to jobs and are seeing business grow.
Many people believe that getting more education is the only way to stand any chance of getting ahead. Everyone seems to be looking for that something that will win the next order. Owners of small business, solo-preneurs and consultants are all spending as much of their free time getting as much education as they can while they have time on their hands. An investment in learning is what many are hoping will make them more appealing to their companies and their clients.
Many are becoming experts in blogging, social media marketing and using tools such as YouTube and Second Life for business purposes for their consultancy based businesses. This recession will be the catalyst a massive leap forward in learning, especially in social media and in the way people communicate and use technology.
Small entrepreneurial businesses will choose to work from home and have virtual offices on the web instead of actual premise in order to keep their overheads to a minimum. I expect that Second Life will be used in a much more business savvy way. The creation of virtual training rooms will be next to become mainstream for staff within large companies to train at times to suit their companies.
This will be a technology and communications revolution.
Where in the past, business owners might have become TOO busy to attend Network Group Meeting, now, with more time being available, people are getting out and making those contacts. More business is being done through forming longstanding relationships. Business is becoming harder to come by and takes more work to find it, leveraging contacts to win it. As a result local networking groups are reporting record membership
Another strategy being adopted by many consultants is, 'let me do the work and pay me AFTER I get you the results'. That takes away the cash flow problem that might be preventing companies from doing things in a new way and only when new business comes in, does the company then pay the consultant for their input. I can see this approach being taken on by many entrepreneurial businesses who work from home and have the advantage of no/low overheads which makes it an option they are able to offer.
Article by Tina Jesson - The Visibility Creator Public Speaker, Trainer, Business Coach
Orignal From: Up the revolution - the technology and communications revolution
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