Sital Ruparelia

Guest article by Mitul Kotecha

Since we last discussed the economic outlook at the end of quarter 1, much has happened and unfortunately there has not been a great deal of positive news.  I retained a cautiously optimistic outlook for economic recovery for the Q1 Economic Review: elections, recovery and underemployment discussion article, but highlighted that recovery would be a long and drawn-out process, with western economies underperforming Asian economies.

The obstacles to recovery discussed then continue to apply now, including consumers paying down debt, high unemployment, tight credit conditions and weak confidence.

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As we begin the second quarter of 2010, I recently interviewed the economist and media commentator Mitul Kotecha to get his views on the economy and employment market at the end of quarter one.

Mitul is a regular guest on TV news channels CNBC and Bloomberg TV to discuss his views on the global economy and is frequently quoted in publications such as the Wall Street Journal and the Financial Times. He also shares his views on the economy and global markets at his blog, The Econometer.

As you’ll see from the transcript of the interview below, he’s still cautiously optimistic about the prospects for 2010 and predicts a slow drawn out recovery with plenty of hiccups along the way.

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Sital: Mitul, when we spoke in December to look at your predictions for 2010, you were cautiously optimistic about economic recovery in 2010. What’s your take on things after the first quarter?

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FREE TELESEMINAR

“Rethink, Reposition and Thrive In 2010″

Saturday 6th February 2010

3pm UK Time

4pm Central Europe, 10am Eastern Standard Time

Learn more and book your spot now

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During this 75 minute call, you’ll discover:

• 3 big shifts we’re beginning to see within the workplace during 2010 which will accelerate by the end of this year and into 2011

• Key predictions I’m making for the employment market in 2010

• 3 biggest challenges every employee and freelancer will have to adapt to this year

• One big mindset shift you must make in order to thrive in the coming year

• The 5 key steps you will need to take to reposition yourself and ensure you’re one of the winners who thrive in 2010. Which means you’ll learn:

• How to reinvent yourself without having to change job or careers

• The 2 keys to standing out in what is still a very challenging job market

• 3 ways to increase your income this year (even if salary budgets are capped)

• The key to finding meaningful work (without taking a pay cut and making a huge change)

• The 2 time-tested principles you must follow in order to achieve that elusive work-life balance you’re searching for

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Whether you’re working in a permanent role, consulting, freelancing or looking for a new job or career – this is a must-attend free teleseminar. I’ll demystify all the changes going on this year and ensure you thrive in 2010.

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Click here to learn more and reserve your space on the complimentary call.

Have you ever been go-carting?

Or maybe driven on a real racing track?

I’m not much of a race driver myself, but there are two rules I do remember learning when I first went go-carting:

1. As you approach a sharp bend – slow down

It’s hardly rocket science, but very true. Slow down, pay close attention to what’s happening around you and you’ll be safe and secure.

2. As you come out of the bend – step on the gas and push on quickly

If you don’t, you’ll get left behind. And once you’re chasing the leading pack, it becomes incredibly difficult to catch up without taking crazy risks.

We’re now at that same stage of the recovery cycle that resembles turning the corner on the bend of a race track. In fact, later today we’ll receive official confirmation that the UK economy has turned the corner and finally come out of recession.

So if you’re running a business, now is the time to be more visible, more aggressive in marketing your offering and work harder at building your brand so as to differentiate your business.

If not, you’ll get left behind as your competitors step up a gear.

If you’re managing your career, the same rules apply.  You need to be more visible, more aggressive in marketing yourself and work harder at building your personal brand so that you can stand out from the crowd.

If not,  you’ll be left behind.

And just like that race track, once you’re left trailing your competitors, it’s so much harder to catch up. So put your foot on the gas NOW and start building some momentum before everyone else gets ahead of you.

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By the way, if you need some advice on “how to step on the gas”, you may be interested in my upcoming teleseminar: “Rethink, Reposition and Thrive In 2010.” It’s completely FREE so click here to learn more and reserve your spot on the call.

“God, grant me the serenity to accept the things I cannot change, the courage to change the things I can, and the wisdom to know the difference.

Reinhold Niebuhr

You’re employer is going through a major restructuring process and you don’t quite know what will happen to you or your job.

You’re department has reorganised and you’ve ended up in a make-shift role that is unclear.

You’ve been given (what seems like) a pointless project to work on. You get the distinct impression that you’re being ‘frozen out.’

Your firm is cutting costs and you feel vulnerable

Sound familiar?

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In the UK, the 1980′s recession had a lasting impact on what remained of the dying Primary Sector industries – namely, coal mining and quarying. The recession wasn’t totally responsible for killing off the jobs in those sectors, but it did act as the catalyst which sped up the transition of workers from the primary sector to the manufacturing and service sectors.

The recession accelerated the structural changes already under way within the employment market and so, in time, created new opportunities and prosperity for workers in another sector.

The 1990′s recession hit the Secondary Sector (manufacturing) and became the catalyst for the loss of countless blue collar jobs and an acceleration in the shift in employment patterns from the manufacturing sector to the service based sector. The career transition and re-training of factory workers and colliery workers to become call centre workers in the North of England being a case in point.

Again, the recession didn’t cause the shift in employment patterns, but merely accelerated the trend. And over time, created improved working conditions, new opportunities and prosperity for most of the workers impacted.

The 2008-09 recession has been dubbed the “Middle Class Recession” in view of the number of ‘professionals’ laid off.

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Last Christmas, I spent two days volunteering at the Crisis homeless shelters in London.

Crisis is a charity that runs centres each Christmas to provide London’s homeless people with food, shelter, entertainment and companionship through the Christmas period. In fact they ran the biggest ever volunteer event in the UK, with 9,000+ volunteers over a 10-day period.

I’d never done anything like this before but, having read about the record numbers of people becoming homeless last year due to the financial crisis, I thought I would volunteer my time on the 23rd and 24th December – after all it was just two days.

I was part of the “Learning and Skills” team of volunteers who helped the homeless ‘clients’ improve specific skills such as literacy, numeracy, language skills, computer skills, artistic skills etc. Given my background, my main focus was to offer advice and help to people about finding work. After all, finding work and earning money has a knock-on effect on being homeless. Helping a homeless person find work could literary change their life.

But in reality, most people that come into the shelters are looking for a warm meal and people to chat to rather than for advice on how to improve their skills. So on Christmas Eve I found myself and a fellow volunteer (Carol), chatting to a homeless 60-year old Irish man over a cup of tea in the canteen of the school that was hosting the shelter.

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I am excited to announce a series of instantly download able Audio and Video Programmes to help you deal with specific career related matters

These extremely affordable solutions feature me speaking directly to you from my couch about how to deal with your biggest career related problems and head aches.
The programmes will launched and available from the beginning of January to help you kick start your career in 2010. But starting from today – for 14 days only – I’m offering all 9 programmes at a 35% discount special pre-launch price

Take your time to look through the summary below or go straight to webpage by clicking here

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I recently interviewed the economist and media commentator Mitul Kotecha who wrote guest articles for us at the end of Qtr 1 and Qtr 2 about the prospects for the economy and employment market in 2010.

Mitul is a regular guest on TV news channels CNBC and Bloomberg TV to discuss his views on the global economy and is frequently quoted in publications such as the Wall Street Journal and The Financial Times.

As you’ll see from the transcript of the interview below, he’s cautiously optimistic about the prospects for 2010 – despite the recent concerns about Dubai’s debt problems and the possibility of  a ‘double-dip’ recession.

“Cautious Optimism For 2010“

As we approach the end of 2009, what’s your view on the global economy? Click here to read the rest…

With a 6 month stock market rally and many economies around the world starting to turn the corner, many forward-thinking organisations are gearing themselves up to take advantage of the recovery – even if it turns out to be a somewhat shaky path.

If you study the history of previous downturns and recoveries, you’ll see that it’s these organisations who thrive during an upturn and not the ones who are insistently focused on cost-cutting into a recovery.  The ones that thrive are the ones that invest in their business, their people and their products / services so as to grow the top line instead of trying to further squeeze the bottom line.
 
But in the modern work-place we are all now self-employed freelancers (even if you have a ‘permanent’ contract of employment) and consequently must think like a business looking to rebound. 

So whilst others will be trying to “sit tight” – as a forward thinking CEO of You Inc, your focus in the coming weeks and months should be to invest in YOU because those that invest early get the early advantage through a recovery. Plus the fact that you’re the safest asset class in your investment portfolio with the very best ROI over the long term.

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