Taking Advantage of the Recession

Though the Great Recession is ostensibly over and the worst is supposedly behind us, the state of the economy is still in tatters. Lots of grads are staying in unpaid internships longer and longer, and more and more millennials are moving back into their parents’ basements. It’s very bad, we have to admit, but there’s always opportunity in the midst of a disaster like this. Think: How can you make the most of this situation?
Photo: Ed Yourdon / Creative Commons

Global Opportunities
With the real estate bubble having burst in Spain, and rent in Greece plummeting as people lose their jobs, people with secure finances that don’t need to be anywhere in particular for their work are poised to take advantage. An average web content editor can make as little as $2,000 a month sometimes, but rent prices in Athens float at around $500 a month, so the adventurous among you may be tempted to jump abroad. Most web development jobs can be done anywhere worldwide, so those of you working online may find it worth your while to take your talents overseas.

Photo: Robert Scoble / Creative Commons

Talent Without Work
Your colleagues in web and graphic design, content development and marketing may be having a hard time finding jobs. It’s a common story that happens every time friends from the same graduating class get together. We’ve all got this talent. We’ve all got things we want to accomplish and do. Why don’t we work together and accomplish them, then? New grads in this recession are looking more and more among themselves to get the breaks they need, collaborating on projects. Marketing and graphic design grads often create magazine ads for products that don’t exist as portfolio pieces—why not go the next step and team up to create your own startup ad agency? Venture capitalists and entrepreneurs kill to find the kind of talent you and your friends have, so why not use it for yourself? It’s a big risk, but big risks can mean big gains.

Photo: Entrepreneur Magazine

A Chance to Start Up
The biggest gain perhaps in this economic atmosphere is the opportunity to fail. It’s an odd thing to say, but many entrepreneurs will admit that their first few ventures tanked horribly before they finally hit on a successful business. Now, with more people than ever out of work, there is an increased acceptance of people taking a chance, and not making it. In year past, if you tried to start up a new company and failed, there was a lot of tut-tutting behind your back, and naysayers agreeing that a stable job at a big company would’ve been better for you in the long-run. Now, those big companies are laying off waves of people, and people who’ve led start-ups are now seen as being the most important part of this generation—the new group of entrepreneurs.


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