Super Entrepreneurs Still Thrive in a Down Economy

    Submitted by Anonymous (not verified) on Wed, 09/01/2010 - 12:11

    There are a few key tactics worth highlighting. Business diversification is a common thread among high earners. Diversification strengthens a business by increasing income sources. You can also diversify into new business opportunities that arise in times of economic turmoil. I’m diversifying my business right now into a wide range of digital media channels, along with launching a new Online Business Expo http://www.homebusinessmag.com/expo

    Partner Leverage is another common success trait. Highly successful entrepreneurs look for other entrepreneurs with whom they can mutually leverage in joint business endeavors. Leveraging skills and talents enables you to tackle more difficult business endeavors, and it increases the range pf businesses that you can target in a down economy.

    Many economists predict a double-dip recession. But this time, we no longer have the financial resources to spend our way out of it. A country so blessed with natural resources should never have gone off an economic cliff. So what went wrong?

    One root cause I believe is how we’ve strayed from the U.S. Constitution, its original governing intent. As a military officer, I’m required to understand it. The Framers of the Constitution understood the painful reality that the vast majority of people lacked either the time, intelligence, or critical thinking skills to make government work. They knew that voters would be too easily enticed by simple benefits (i.e. tax cuts) without comprehending their costs (i.e. fiscal deficits); or that voters would fixate on arbitrary personal issues (as seen today with certain social issues), to the detriment of overall good governance.

    So our Constitution was written to keep the populace “buffered” from government, with citizens only voting for Congressional representatives. The President, Senators and judges were originally not elected by popular vote. Over time, this safeguard was amended away to essentially direct elections. This is a major factor behind why our government is dysfunctional and incapable of making tough choices — while saddling us with economy-crushing debt.

    I don’t know what the solution is, as we’re obviously not going to de-amend the constitution closer to its original form. Hopefully people will begin to understand that governing is about accepting sacrifices; that eliminating our national debt can only be done through painful progressive tax increases and massive spending cuts. Don’t hold your breath! Welcome to “The Age of De-Leverage.” HBM

     

     

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