5 steps to turn a volatile market time into growth

5 steps to turn a volatile market time into growth

5 steps to turn a volatile market time into growth

I’m just going to come out and say it. There is nothing sugar coating it, the markets are really tough right now. Stocks are crashing, valuations are declining, and investors are much more conservative in deploying capital.

This new market correction has many unfortunate results, but the main one is that companies have a shorter runway, which means layoffs.

If you’ve recently been laid off from your tech job, here are some things you can do to take advantage of the situation.

Discover your true passion.

The word passion has to be one of the most used words in business. Everyone loves to talk about finding their passion, but who has time to sit down and figure out what their true passion is when they’re busy working and just keeping up with the insanely fast-paced world of technology?

However, if you recently lost your job and are now in between roles, maybe now is the time to sit down, maybe give it some thought and figure out what it is that you really love doing.

A good place to start is to think about what you do in your spare time and what you would do if you won the lottery. Chances are that’s your passion. Now all that’s left is to figure out how to take that passion and turn it into a career.

Gain experience in the domain.

Once you have identified your passion, now is the time to become an expert in it. So if you’re a foodie, take this time to learn as much as you can about food technology, for example.

Read food tech news, listen to podcasts, watch YouTube videos, and learn as much as you can about space.

The best way to increase your chances of working in food technology is to become a food technology expert. Now is the time.

Start producing content.

At this point, if you’re still not convinced of the power of content, you’re not paying attention.

As most marketers will tell you, good content is the foundation of your entire marketing strategy. Help with PR, SEO, social media, user acquisition, and much more.

Again, who has time? Well now you do.

So think, is it written content you want to produce, or maybe it’s a podcast? Maybe video is your thing. Regardless of what you decide, now’s your chance to take advantage of the time you have and share the domain expertise you’ve recently gained.

Allocate time to the network.

The power of a good cup of coffee should not be discounted. Now I realize that you have a lot to do and you need to start looking for a job, but maybe you’ll set aside a few hours a week to meet people in your industry.

No agenda, no interviews, just a friendly cup of coffee. You’ll be surprised how a random meeting could lead to good things.

Don’t underestimate the importance of building your network.

Build yourself a market landscape.

Finally, spend this time familiarizing yourself with your industry. Who are the big players? Who are the emerging startups? Who invests in space? Which journalists cover it?

Knowing the space like the back of your hand will definitely help you when applying for your next position.

The bottom line is that times are tough right now and there’s no denying that, but by taking advantage of the extra time you might have now, you could turn this tough period into the most important and fruitful time of your professional life.

Opinions expressed here by Inc.com columnists are their own, not those of Inc.com.

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