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How to Survive in the New Economy

Updated on June 15, 2010

The World Economy

Rules of the New Economy

Serious thought about success in the new economy demands serious inquiry into the many factors that will enable you to achieve your goals. The formula for an earlier generation was much simpler - college degree, good resurme, work for the same company for 30-40 years, hard work, thrift and patience.

While many of us are ready to throw this baby away with its polluted bath water, that would be a serious mistake. The same formula still works for thousands of people. it's just much harder to follow. Few, if any of us, could control our ability to stay within the same company framework even for ten years, let alone a generation, and a college degree has been devalued by sheer supply of degreed individuals in almost every professional field.

Here's an example of what I mean: thanks to the local presence of a major pharmaceutical company, my parents new dozens of chemists with bachelors and/or advanced degrees in their discipline. Many of them worked for the same company for their entire career.

I know a chemist or two myself, and you probably do as well. In fact, how many of you who know chemists, know a chemist who is inot working as a chemist in a pharmaceutical company or even another large manufacturer, but perhaps is involved in the brewing of fine local beers instead? Even if you don't know them, I promise you, there are plenty out there.

The local brewmaster serves as a nice example of how one achieves success in the new economy. The rules that apply to this success are are really universal rules that apply at all times for all people, however, in a time when our simple American paradigm of success has been ripped from beneath us, it's a good idea to review of a set of these unviersal prinicpals that help us break free from the shackles of old thinking, and through the foggy ceiling of doubt in a time of uncertainty - to a new place where we can see opportunity for what it is - opportunity.

Below I've listed a "ten commandments" for anyone who doubts they can make it in our times, and I'll try to explain each for what it means on a personal level:

  1. The New Job Market and the New Marketplace are All Global
  2. At the Same Time All Economics are Local
  3. Technology Matters
  4. Networking is Still Personal
  5. The State of Government and Politics Does Not Matter...
  6. Except for War
  7. Home Business is a Necessity
  8. Persistence Pays in Any Era - Even Ours
  9. Doing What "You Are"
  10. Read-Listen-Write-Speak

Andrew J Thompson is a social entrepreneur and business attorney with 20 years of experience helping budding entrepreneurs and successful individuals and families achieve their dreams.  He may be reached at (877) 365-1776 or via email at: ajt@elusen.com

 

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    • equealla profile image

      equealla 

      8 years ago from Pretoria, South Africa

      I feel exceptionally sorry for our young generation. Like you said, the old roll models is getting mouldy. We as parents are in a daze as to what to advise our kids.

      You have good points here. This afternoon all the kiddos will be together, I will open this article again, and we will debate it.

      Thanx for this guidelines.

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