Crisis or Opportunity

Crisis or Opportunity? - Wealth Creation Tips in Recession
By: Elizabeth Siebert


Article Summary: While the financial crisis is real, what it represents is entirely up to you. More Millionaires were borne

out of the Great Depression than any other time in history. "Be fearful when others and greedy, and greedy when others are

fearful." See these tips to not just surviving but profiting from recession.

Crisis Or Opportunity?

While the current financial crisis is real, what it represents is up to you. The Chinese symbol for "crisis" is said to be

made up of two individual characters which mean, in broad terms, "danger" and "opportunity".

You can decide how you will respond to the current climate. Will you adopt a poverty consciousness and cut back to survive?

Or, will you see the current state of play in the global economy as an opportunity to foster your entrepreneurial skills and

build more prosperity?

The transferral of wealth currently taking place means there has never been a better time to launch a business in a market

you identify as growing already or is predicted to grow into the future. The current climate represents the perfect storm of

opportunity. However, it is up to you to decide whether you will capitalise on the market conditions. More millionaires were

made out of the Great Depression than ever before.

If you believe the conditions represent all threat and no opportunity, you are right. If you believe they can assist you in

creating wealth and prosperity, you are are also correct. As Warren Buffet put it, "Be fearful when others and greedy, and

greedy when others are fearful."

Take responsibility, set down your goals, identify opportunity and take confident action.

Survival Tip 1 : Take Responsibility

Accept that you are where you are because of decisions you have made. Sure, others may have had an influence and you may see

circumstance as playing a role, but now is the time to acknowledge that you need to find a way forward. While you are

thinking this through, remember - if you keep doing what you've been doing, you will keep getting what you've been getting.

This is a time for creative thinking and practical steps. It is not someone else's job to 'rescue you'. For the longest time,

I didn't understand this (and many people fail to ever grasp this concept) your financial future is in your hands. Don't out

source it - it can be great fun creating wealth and freedom, but you must take responsibility.

Survival Tip 2: Set Your Goals

What needs to change? Where will you be in a month, six months, a year? When was the last time you thought about what you

used to want for your life? Is that the life your are living? Or, is there something better out there for you? Do you need to

pay off your debt? Or are you brave enough to think beyond this? Do you aspire to financial security? What are your goals?

Think about this carefully, you get what you focus on.

Survival Tip 3: Identify Opportunity

There are a number of courses of action available to you.

Start Saving : Cut down on every luxury you can and make it a game. There are loads of suggestions available on the internet

about how to save and live well. In the early stages, this might work. But, remember, having a 'poverty consciousness' will

keep you poor. The best approach is to couple some sensible spending with investment in opportunities that will provide

further income.

Work Harder : Think this through, will longer hours generate more wealth or just longer hours? While you are at it, ask

yourself whether you have an 'employee' mentality or an 'entrepreneur's' mindset. There is a big difference. If you believe

that your only course is to work for someone else, then that's the path you will choose. If, however, you can shift your

beliefs just a little, you might find an entrepreneur buried in there just dying to get out. Will working harder enable you

to achieve the goals you have set down above?

Work Smarter : There are hundreds of big and small opportunities out there to start creating wealth. Start seeking out and

exploring opportunities. You should be aiming to create three to four income streams. Some, preferably all, of these will be

passive or residual income opportunities. This might include anything from marketing someone else's product on line through

to share trading and property investment. Be judicious and do your homework. Starting as a click bank marketer can quickly

lead to beginning your own business in a field that is growing. Follow not just your passion but growth patterns and strong

evidence of market size and predicted growth. Again, will these opportunities (or a collection of them) provide sufficient

wealth to realise your goals?

Survival Tip 4 : Take Action

Hemingway tells us, 'Never mistake motion for action'. Things will not change for you unless you change your choices. This is

not an exercise in positive thinking - although your beliefs will most certainly drive your actions - this is an exercise in

behavioural change. You need to be 'being' different by making different choices, then you need to be 'doing' things

differently to have different results. One of the most powerful methods for this is developing a daily practice. Assess your

daily activities against your short, medium and long term goals. If your activities aren't supporting the direction in which

you have decided you want to go, then why are you spending time on them? If your activities aren't generating health, wealth

or happiness, reassess and recalibrate.

Article Source: http://www.upublish.info

About the Author:
Elizabeth Siebert
Elizabeth Siebert is a Master of Economics, international policy adviser, writer and entrepreneur. She is Director of

Extraordinary Life Enterprises, a company that assists people all over the world to change their behaviour to create wealth

and freedom. Go to: http://www.extraordinarylife.com .au

Keywords: wealth, money, recession, home businesses, home based businesses, franchise, work from home, law of attraction,

personal development