GeekMBA360

Career and Money Advice At The Intersection Of Business And Technology

GeekMBA360 header image 2

Great Depression 2.0 Survival Guide — May, 2009 Edition

May 22nd, 2009 · 3 Comments

In this Issue:

  • Have we seen the bottom of current economic down turn? Are you ready?
  • Six ways to identify hidden job opportunities
  • What should you do if you cannot find a job?
  • Inside look at layoffs + Job Search Strategies
  • Entrepreneur calling: ideas, inspirations, and examples
  • Watch your Paycheck! — Personal Finance Tips
  • Unhappy at work? — Tips on fighting bullies, making transitions, achieve career satisfaction
  • Considering going back to business school or law school?

Have we seen the bottom of current economic down turn? Are you prepared?

The stock market has been going up in the past couple of months. But, here at GeekMBA360.com, we continue to be very bearish on the economy and market in the next 6-12 months.

There are four fundamental areas we need to consider with respect to economic recovery:

  1. unemployment level
  2. stabilization of housing price and reduction of foreclosures
  3. government deficit and debt level
  4. clean-up of the banking sectors

Very little improvement has made in #1, #2, and #3 above. The stress test and bail-out packages might have helped the banks, but we still have a number of banks that need raise additional capital. Plus, nobody can say for sure that these banks would be fine after they raise the additional capital.

Furthermore, population trend such as baby boomer’s retirement. is not in our favor.

I sincerely hope that I’m wrong, but I think we’re heading into a L-shaped, prolonged period of stagnation.

You need to be prepared:

  • continue to be frugal, cut down expenses, and save
  • if you’re employed, try to create second or even third source of income by taking on side consulting projects, starting a small business on the side, etc.
  • You might want to look into buying a franchise for alternative income
  • if you’re unemployed, get a temp job and/or taking on multiple part-time gigs to "stop the bleeding". It’s unlikely that job market will improve. It’ll take time to find a job.
  • If you’re geographically flexible, consider moving to areas with better economic prospect. For folks who live in expensive areas such as New York City or the Silicon Valley, consider move to less expensive areas such as Seattle, Denver, or North Carolina.
  • The four most promising economies are China, Brazil, Russia and India. Consider learning the languages and move to these countries.
  • Watch world economy and market closely. You might want to covert some of your hard-earned cash to gold or commodity. Given the deficit level, US government will need to print a lot more money. There is no way out besides higher taxes and printing more money. Your cash might worth significant less in a few years.
  • Exercise, eat healthy, stay fit.

Six ways to identify hidden job opportunities

  1. set up Google news alert/Technorati blog alert to closely monitor which companies just received venture capital funding. Contact these companies for job opportunities.
  2. apply a job that you’re over-qualified (and you normally wouldn’t apply.) Get the job, and negotiate.
  3. make a list of customers you have worked with. Can your skills help them make more money? Make a proposal to these customers and tell them how you can help them to make more money and/or reduce costs. Get paid as a part-time consultant.
  4. make a list of partners/suppliers you have worked with. Can your skills help them make more money/reduce costs? Make a proposal and become a consultant for them.
  5. Turn your work experience into teaching materials. Get an online teaching gig or teach at your local community college
  6. Look into Federal government jobs.

What should you do if you cannot find a job?

  1. contact multiple temp agencies and get one or several temp jobs to "stop the bleeding"
  2. if you have good credit and have access to a little bit capital, consider purchase a franchise
  3. start selling things on eBay and/or Amazon.com marketplace
  4. start your own business
  5. go back to graduate schools
  6. enroll at vacation schools such as cooking school, nursing school, etc.
  7. move to a developing country, live cheaply, and teach English. Make sure you pick up the foreign language too!
  8. finally, and not lastly, keep looking! Never give up. With persistence, tenacity, and hard work, you’ll get a job!

Inside look at layoffs + Job Search Tips


Entrepreneur calling: ideas, inspirations, and examples


Watch Your Paycheck! — Personal Finance Tips:


Unhappy at work? — Tips on fighting bullies, making transitions, achieve career satisfaction.


Considering going back to business school or law school?


Read the Previous Editions of this newsletter:


About Depression 2.0 Survival Guide and GeekMBA360.com

Great Depression 2.0 Survival Guide provides hard-hitting, up-to-date, practical strategies, analysis, and tips to help smart and ambitious professionals to survive and beat Depression 2.0. To subscribe to Great Depression 2.0 Survival Guide and receive daily post update, please go to www.GeekMBA360.com to subscribe.

Founded in September, 2008, GeekMBA360.com provides hard-hitting and practical career advice to help the smart and ambitious professionals to Beat Recession, Grow Career, and Build Wealth.

To learn more about GeekMBA360.com, please visit the About Us section of GeekMBA360.com .

Tags: Beat Recession

3 responses so far ↓

  • 1 Cheryl // Jun 23, 2009 at 12:53 pm

    I've linked to this article on my “homemade everything” blog. Great info and guidance here. Thanks!

  • 2 Cheryl // Jun 23, 2009 at 4:53 pm

    I've linked to this article on my “homemade everything” blog. Great info and guidance here. Thanks!

  • 3 career ideas // Jan 6, 2011 at 11:09 am

    this article is really helpful for a lot of people in the world because the crisis struck throughout the world!

Leave a Comment