How To Find Opportunities In a Recession

By Kristopher Meuwissen

There has been an undercurrent of fear about this recession (like there is in any recession).

People are scared for their jobs, their incomes and their standard of living.

Fair enough… But…

There are heaps of opportunities out there right now that you can be grabbing with two hands, yes, I know that is what everyone says so how can you find those magic opportunities?

There are a few things that you can do that will shine a light on new investment opportunities, business ideas and new forms of income without needing any special training or background.

  1. Start looking: Ok, this is maybe a bit of a nob of a thing to say but it has to be the first thing on the list. Too many times I have had conversations with people who ask me how I find opportunities and they think that somehow they fall in my lap out of nowhere. You need to look for them. If you are interested in buying a new investment property and your looking for a bargain, you NEED to be looking on listing sites as well the local papers and speaking with local estate agents.
  2. Identify problems: Has the recession created a new problem? 100% it has. Think about service industries and how people now are conducting all of their business by Zoom. When you identify problems that are happening around you, you can start identifying solutions. Don’t be deterred by someone else possibly having an answer to the problem already. Think of a way that you can differentiate or possibly invest into those solutions.
  3. Start speaking about what you are wanting to do: This one is simple. If you are wanting to find a new investment in shares or real estate but all of your mates are talking about cars or the footy then again, you are in for a tough time. Connect with people who are in the field that you want to be a part of. Ask them for advice, talk to them about their ideas and see what happens.
  4. See potential and take a risk: You are never going to have the business of your dreams if you don’t put anything on the table. You need to think big about what the potential is for the thing in front of you. I have an annoying habit of critiquing every shop, café, bar or service I have ever used and thinking of how I would do it differently or what I could add to it to make it go from and 8/10 to a 10/10. Indulge your imagination and then look at what it would take to make it your vision a reality.

These simple things will help you find opportunities around every corner.

If you think that you are doing all of these things and nothing is working out for you, well your not alone. Most of the time when I do these things, I am absolutely kidding myself but one in one hundred are ripper ideas and only ne in 10 of those might be feasible opportunities.

So the final piece of advice I can give to you is…

Finding good opportunities is a numbers game. Keep at it, eventually you will land on the perfect one.


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