Monday, October 20, 2008

Opportunities from the banking meltdown

I just read a seriously interesting article from one of my favorite business authors, Seth Godin. His 16 boxes post from yesterday was brilliant. It puts so much in context around what's going on in the world today and what we can do about it.

I found it particularly interesting because I have been spending a lot of time recently thinking about what opportunities are created as a result of the recent credit / mortgage / banking / recession / economic crisis. We can all go around in gloom-and-doom mode with one of those little cartoon clouds above our heads raining on us or we can think about capitalising on it or re-training or re-positioning ourselves. I'm planning on doing the latter.

There are so many opportunities being created as a result of this crisis and so many new ones coming down the tracks. If we look at just financial services and technology, which are two areas I'm quite familiar with, we can immediately see opportunities. The fact that lots more regulation is going to be a factor in financial services isn't a eureka moment but think about all the products and services which can be created to help companies deal with it. On the technology front, I don't believe there are going to be lots and lots of million dollar technology deals in the future of financial services. There will of course be some but many tech companies and service providers are going to be forced to radically rethink their offerings and price points and ultimately their entire company. This all equals opportunity.

Don't just sit there. Go for it...