Things will get better. If you don’t believe me, read any of the great economists, from Karl Marx to J.M Keynes, Joseph Schumpeter or Milton Friedman.
Yet it’s extraordinary how timid people are when times are tough. There’s no time like the present. Aim high. What is Warren Buffett doing right now? He’s buying stocks. He knows that there’s value out there, and if he buys the right stocks at the right prices, he and his investors will be sitting pretty in a few years’ time.
It’s the same for entrepreneurs and businesses. There has never been a better opportunity to strike bargains with suppliers. This is the moment to invest in the things you need.
This is also the moment to look for new markets. Put your capital to work. Governments are desperate for growth and willing to hand out grants in the right circumstances. But you’ll still have to do most of the work yourself. Where is the greatest scope for expansion?
In the wake of the Arab Spring, a new elite is emerging in the Middle East, longing to make up for their years of repression. If you want to do business in Egypt or Libya, you would probably be well advised to work in partnership with someone who really knows the region, the politics and the culture. But if you can get a foothold now, the rewards could be enormous.
Wherever you go, you’ve got to do the research and make the connections. And don’t be afraid. If you want to make it big, you have to grow. It’s when the growing gets tough that the tough get growing.