Faced with the imminent crisis that we will face internationally, many companies have decided to take drastic measures to safeguard their interests.
Small, medium and large companies have seen the need to reduce wages for all their employees, have made waves of layoffs, have offered the option of accepting the minimum wage or being fired, among other unpleasant measures.
Measures where even the most outstanding employees have become more.
Situations like the one we are currently experiencing, the COVID-19 pandemic, remind us that having a “safe job” will never be safe.
Many business owners have also been economically disadvantaged, however, as in the chess game, The King is the most important piece and whatever happens, he will always be the first to get to safety.
We employees are pawns, some with more privileges than others, but in the end, pawns. We are pieces on the board, the first to face companies and usually the first to leave it.
This note beyond talking about what has already been discussed in all the media, which have saturated us with enough information, is about redirecting your attention. It is time to analyze yourself and make a vehement introspection.
It is now when you must take your chess game called life and start a new game.
Have you reflected on whether the way you are living your professional life is the one you really want?
Paths to professional success and being a prosperous person there are many, you just have to choose one and how. If it is within a company because it seems to be “less risky” or, if you decide to have your own business and face all the consequences, but in the end, enjoy the fruits of all your effort.
It is important to emphasize that the current situation is temporary and we must always bear in mind that money has a changing value over time. A maxim in finance says “Money over time loses value.”
The money you receive today is worth more than the same monetary amount received in a month.
The important thing about money is its purchasing power; therefore, it is not the same to have 1 million pesos today than, for example, to be able to do it in half a year.
The most advisable thing is to invest in business projects and get a return.
Antonio Del Valle, president of the Mexican Business Council (CMN), pointed out to El Financiero that, with the economic crisis and the coronavirus outbreak, it is a time of greater opportunity to invest.
The best investment opportunities are in crisis and recession. This is because enough needs and new business models arise to be able to cover them.
In these times there are always two types of people, those who cry and those who sell handkerchiefs. If you continue reading this note, you will most likely be one of the second.
The global pandemic that we are going through shows the need to look for alternatives to invest.
The first thing you should do is identify your profile:
- Conservative : you have little tolerance for risk, you prefer to have your money safe, even if you earn little.
- Moderate : You are looking for better returns, but without taking risks. You prefer the balance between performance and safety.
- Risky : The more risk, the more returns. You are willing to bear the consequences, but in exchange for long-term investments.
Knowing our profile as investors will allow us to answer the key question we must ask ourselves before undertaking:
How much do I want to earn? And how much am I willing to risk to win it?
Like you, people who are now great entrepreneurs, lived through times of war, crisis, earthquakes and multiple challenging external factors and instead of remaining inert watching catastrophic and yellowing news, they took the reins of the situation and turned them in their favor. .
More than half of the ranking of the 500 companies of Fortune, global business magazine, were founded during times of crisis and / or economic recession.
These are some examples of companies that were created in difficult times and were successful:
Founded during: The economic crisis of 1973.
- General Electric
Founded during: The Panic of 1870.
Founded during: The Oil Crisis 1973
- CENTURY 21
Founded during: The 1971-1973 crisis.
Founded during: The Recession of 1930.
Founded during: The Great Depression.
Founded during: The Great Recession of 1930.
- Procter Gamble
Founded during: The Panic of 1837.
Founded during: The Long Depression, 1873-1896.
- General Motors
Founded during: The Panic of 1907.
No crisis is an obstacle to starting a new business and history helps us confirm it.
There is nothing that sparks a person's creativity more than when faced with challenging situations.
Do you still have doubts if it is a good time to start?
Valeria Oehmichen Gastelum
National Director of Expansion at CENTURY 21 MEXICO