There’s a lot of uncertainty. Nobody knows how their business will work out next year, or if it will even survive. And many people are preoccupied with their jobs, as the economic slowdown is impacting the job market pretty hard too.
And that’s probably why quite a few people reached out to me recently and asked if I could give them a “back-up plan”.
Well, I certainly do have one for myself, whenever tough times arrive.
And it goes like this:
I seriously believe that any crisis or challenge is a great opportunity to reinvent yourself.
It’s the right time to upgrade your thinking, your knowledge and your experiences.
To learn something new or explore new areas of business and opportunities that you’ve never explored before.
Challenging times are UPGRADE times.
And it’s the WORST time to sit and do nothing. That will not give you an edge in an even more competitive environment than ever before.
But it is the right time to push your boundaries. To uplevel your thinking. To put your creativity on fire. To figure out where the new opportunities are, where there is ANY potential for some extra financial income.
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In our hedge fund, we have been getting ready since February. We have been reinventing ourselves throughout the entire year.
We’ve developed a bunch of option strategies to get an extra edge in the upcoming high volatility. We’ve created breakout strategies in markets we have never traded before. We started thinking outside of the usual, common markets. We’ve nearly finalized a complete legal and business framework to release our own corporate bonds. We’ve explored many new scenarios to make money in ANY possible environment.
This is the time of REINVENTION.
The worst thing we can do is sit and do nothing.
The chances are that a very serious crisis is in front of us.
So I suggest, STOP waiting for it. Start learning new skills NOW, including new trading techniques, tricks and approaches. And start IMPLEMENTING them.
Get creative. Test things you’ve been postponing for years. Do more research.
Those who will be able to REINVENT, will not only survive, but very likely THRIVE too.
Start now, before it’s too late.
Good luck, fingers crossed and happy trading!
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