With the present economic outlook, do you think that this is good advise?

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Quote from: DOH! on March 12, 2023, 07:00:08 AM

Quote from: Davidvictorson on March 11, 2023, 02:24:30 PM

I was having a chat with a senior mentor in the financial sector and I asked him what advise he had for recent graduates, he said despite the high rate of unemployment, they should avoid a small margin business and instead acquire a skill or learn a trade where there is a reasonable profit margin. Because the effort you put into a small margin profit business if paired with acquiring a skill will pay more in the future. With the present economic outlook, do you think that this is a good advise?

Given today's society and economy, I would argue that this advice has its own degree of plausibility to be chosen. Unemployment is high, and some positions and jobs require a higher level of competition. Some graduate but cannot choose or apply for the right position and expertise. They have to make a living in occupations that are completely different from the one that corresponds to their university degree. Some choose to study at a higher level, but choosing a career to do something sustainable, finding the door to your own profit is also a good option. For example, if you graduated in electronics - you can choose to continue learning advanced repair skills to combine with small business and small profit margin.

While it is true that maximizing your skills and expertise can lead to greater success in any endeavor, including trading, it is important to recognize that trading also carries inherent risk and avoid making impulsive decisions based on short-term market fluctuations.

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Quote from: Davidvictorson on March 11, 2023, 02:24:30 PM

I was having a chat with a senior mentor in the financial sector and I asked him what advise he had for recent graduates, he said despite the high rate of unemployment, they should avoid a small margin business and instead acquire a skill or learn a trade where there is a reasonable profit margin. Because the effort you put into a small margin profit business if paired with acquiring a skill will pay more in the future. With the present economic outlook, do you think that this is a good advise?

No doubt, it’s certainly a good one. The best result happens only when you have maximize your skills and apply it into your experience as it will create mastery and expertise on your skills. That way, your profit expectation will increase more and will gain greater chances for success whatever endeavor you wish to take. Most particularly in trading, as it’s the most profitable source of income these days.

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Quote from: Davidvictorson on March 11, 2023, 02:24:30 PM

I was having a chat with a senior mentor in the financial sector and I asked him what advise he had for recent graduates, he said despite the high rate of unemployment, they should avoid a small margin business and instead acquire a skill or learn a trade where there is a reasonable profit margin. Because the effort you put into a small margin profit business if paired with acquiring a skill will pay more in the future. With the present economic outlook, do you think that this is a good advise?

Definitely yes. It’s always better to expand your knowledge first and develop your skills towards your goal because that will ensure 100% success in the end. Rather than start a short term business and expect quick profits, that does not give assurance to success as your skills are lacking that is very much important in achieving your goal. That’s why if you plan to invest or trade, work on your skills first and gain experience, that will eventually pay way to its success.

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Quote from: Davidvictorson on March 11, 2023, 02:24:30 PM

I was having a chat with a senior mentor in the financial sector and I asked him what advise he had for recent graduates, he said despite the high rate of unemployment, they should avoid a small margin business and instead acquire a skill or learn a trade where there is a reasonable profit margin. Because the effort you put into a small margin profit business if paired with acquiring a skill will pay more in the future. With the present economic outlook, do you think that this is a good advise?

With the current economic condition it is good for us to get prepared for what is ahead of us because things are going to get worse with time. There are lots of things happening in the world now that is going to make employment hard to get and we can only escape that if we are prepared for the doom day coming ahead of us.

We can see the there are plans to dump the US dollar and there is going to create some turbulence in the world because I don't think there is a better option for us to choose from to get a stable currency to that can do better than the univeeted state dollar.

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Overall, the advice to focus on acquiring a skill or trade with a reasonable profit margin is sound given the current economic climate, but should be considered alongside individual goals and interests.
A valuable skill or trade can provide a stable source of income and even lead to opportunities for entrepreneurship or starting a profitable business in the future. Additionally, acquiring a skill or trade can increase your earning potential and provide greater job security in the long term

While this is accurate at the same time I think that people need to diversify and learn as many different skills as possible, as you never know if your main way to make money could suddenly become obsolete or become automated and then you are left with no way to sustain yourself.

But if instead you acquire several skills then you will be more resistant to this process, and you could always change careers if in one of your fields of expertise suddenly you find there is a surge on its demand.

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Good advice from your seniors providing simple solutions to gain skills or learn to trade with reasonable profit margins is generally a good idea. In times of economic uncertainty, focusing on acquiring skills or trades that can provide a stable income is a good strategy. This can help graduates become independent and reduce their dependence on finding work in a particular field or industry.

Additionally, selecting a skill or trade with a reasonable profit margin can help ensure that graduates can earn a living wage and potentially even build wealth over time. This can provide a level of financial stability that may not be available in small margin businesses or other industries that may be more volatile.

Yes, while there are no guarantees in any industry or trade, focusing on skill acquisition or trading at a reasonable profit margin is a sound strategy for recent graduates in today's economic outlook.

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Yes, it will really help them to become a great men and women in the future, if they can take that advise and start working on it by learning a potential skills or going into trading which is the best plan a graduate can embrace in the community. Since unemployment is affecting many countries of the world, and many youths are looking for way to learn crypto trading so that they will not find it difficult to feed their family in the future. I think, they will not regret with this advise to acquire skills, in case job is not coming you can further to your skills to achieve your goals in the land.

Cedie

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First of all, having a mentor is a good decision. I hope to find one that I can always ask for advise. Anyway, I agree. Acquiring a skill is a much better investment than immediately jumping into business. Skills will help you in the long run, and no matter how small your forecasted business may be, if you have the right skills and learnings, it'll be easier for you to get your goal. It is like weighing where would you risk your time, is it for the long run or for the vague immediate return. It will be a longer time for you to gain skills but it is not a guarantee either that you'll get a good return when you enter right away into business. There will always be a risk so choose the one that will help you in the long run and the will give you an edge.

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Quote from: Iroh on March 15, 2023, 12:58:37 PM

Acquiring a skill is a necessity in the world we live in today and an advise to acquire one is definitely a good advise. With numerous economic crises that has been rocking the world, jobs that were in sufficient quantity are fast disappearing or/and are being mechanized.

The best way to stay on top of all this economic woes is to acquire a skill that is sourced after and can be easily utilized. For someone that went to college, a skill is an added advantage, sorta like a bonus certificate added to the one gotten after graduating.

I’ve seen times and times again where employers choose skilled workers over workers that has the necessary certification but lacks the necessary skills for the job. So yes, I think the advise you got is a good advise. An advice that can never be repeated enough times.

What about before? Skills are still needed in the past in order for you to land a job and make money to live. Maybe what you mean is the situation is much harder now than before. There are recessions and jobs are becoming limited, that is why we need to learn different skills and the ones who are hard to do so that we can fill those job vacancies easily.

College education/certification is I think the ones who are an added bonus to climb into the higher job positions because without them, you can still be able to work as long as you have a skill and skills can be learned for free. Anyone can have them but not all can study in higher levels.

Joshapat

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When we have just graduated, of course we will be confused and difficult to adapt to real business or a new job, many things can even be different from what we learned at school, the best solution is of course lots of friends and dare to try, trading of course requires capital and high risk , starting a business with a small profit margin is of course more ideal while continuing to learn and gain experience.

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Quote from: Kakmakr on March 16, 2023, 12:48:31 AM

My father always said, "Those who can work with their hand, can feed their mouth" ....now, even if that was good advice, I still believe that a third element are needed in that statement.... which is, "brain power".

Let's make an example ..... Who is getting the most money in any organization? ==> CEO or owner of the company. The workers are very important to his or her success, but the most money are in managing those resources. (using your brain and not just your hands)

That said, even CEO's or Owners of businesses has to start from the bottom, so they have to get the skills to manage other people around them. Wink

Your father's philosophy was right at that time and it represented the phenomenon of that age also, that is the era before and slightly after the French revolution of 1789 and preciding the reinassance period where financial achievement where majorly based on physical presense and ability and the Europeans had to rely on the blacks and africans to work on their plantations through their expedition (if not called slave trade).

However your example is apt and it represents the new generation where financial independence is not judged by physical presense or attributes anymore but on how one can use the "brain power" to positively manipulate his environment for the comfort of his or her being. Skill acquisition is not just what has to do with capital and establishment of business but proper control and monitoring in the absence of the physical presense that was the game in the past. So now you see company owners taking advantage of modern technology to extent that you have your money working for you while you are asleep.

gunhell16

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Quote from: Davidvictorson on March 11, 2023, 02:24:30 PM

I was having a chat with a senior mentor in the financial sector and I asked him what advise he had for recent graduates, he said despite the high rate of unemployment, they should avoid a small margin business and instead acquire a skill or learn a trade where there is a reasonable profit margin. Because the effort you put into a small margin profit business if paired with acquiring a skill will pay more in the future. With the present economic outlook, do you think that this is a good advise?

I think it is right and there is nothing wrong in what he said to you dude, in fact, there is truth in what he said, it seems that he was just being realistic in his advice to you.

Because it's also true that sometimes there are others who have graduated or are degree holders but you can't see the skills. But I'm proud to say that they graduated from college. So for me, his advice is actually good.

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My father always said, "Those who can work with their hand, can feed their mouth" ....now, even if that was good advice, I still believe that a third element are needed in that statement.... which is, "brain power".

Let's make an example ..... Who is getting the most money in any organization? ==> CEO or owner of the company. The workers are very important to his or her success, but the most money are in managing those resources. (using your brain and not just your hands)

That said, even CEO's or Owners of businesses has to start from the bottom, so they have to get the skills to manage other people around them. Wink

DainSLane

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Yes, I believe that the advice given by your senior mentor in the financial sector is a good one. In times of economic uncertainty, it is important to be strategic and mindful about how you invest your time and resources. Acquiring a skill or learning a trade that has a reasonable profit margin can provide you with a more stable and secure future, compared to starting a small margin profit business which may not yield substantial returns. By investing in your own skills and knowledge, you can create greater opportunities for yourself and increase your chances of success in the long run in Life.

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Quote from: Davidvictorson on March 11, 2023, 02:24:30 PM

I was having a chat with a senior mentor in the financial sector and I asked him what advise he had for recent graduates, he said despite the high rate of unemployment, they should avoid a small margin business and instead acquire a skill or learn a trade where there is a reasonable profit margin. Because the effort you put into a small margin profit business if paired with acquiring a skill will pay more in the future. With the present economic outlook, do you think that this is a good advise?

Yes, that is absolutely a good advice my friend, because just as you earlier said, it is better to invest in a high demand & profitable skill than thinking about starting up a small scale business, because skills such as photography, professional video editing, digital/social media marketing, customer relationship and mobile app/game development e.t.c, are high demand skills that will always tend to pay way higher than any other businesses. So on that note, I will likely say your mentor was absolutely right.

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Overall, the advice to focus on acquiring a skill or trade with a reasonable profit margin is sound given the current economic climate, but should be considered alongside individual goals and interests.
A valuable skill or trade can provide a stable source of income and even lead to opportunities for entrepreneurship or starting a profitable business in the future. Additionally, acquiring a skill or trade can increase your earning potential and provide greater job security in the long term.

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Quote from: Adbitco on March 11, 2023, 03:02:12 PM

I think he is a wise and knowledgeable man, whatever thing you do despite any degree you have attain or achieved in life you need a personal skill not just a skill but many with the latest happening in the world you could get employed through any of those skills you have acquired in life. Trading is also good but with the pressure taste and hunger for wealth would make you not to purely excel in the field though you could be making profit but might not be for a long term. Please respect and honor him because you may not know the value of having a mentor, who always tells you the truth about life.

Skills are indeed necessary so you can achieve your goal, whether you’re applying for your desired position, or you want to enter into any type of business, or trading business I guess. Being a graduate alone is not a guarantee, but developing your own personal skills will make you an asset in the company or will certainly improve the chances of making profits if you trade with skills and working strategies. As long as you have the knowledge and skills, definitely you’re in for a successful career.

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Quote from: Davidvictorson on March 11, 2023, 02:24:30 PM

I was having a chat with a senior mentor in the financial sector and I asked him what advise he had for recent graduates, he said despite the high rate of unemployment, they should avoid a small margin business and instead acquire a skill or learn a trade where there is a reasonable profit margin. Because the effort you put into a small margin profit business if paired with acquiring a skill will pay more in the future. With the present economic outlook, do you think that this is a good advise?

You can never go wrong with acquiring skills that offer profit. The economy may die, cash may become obsolete, but as long as you can offer up something to the table that not a lot of people could, you'll be save and thriving. This is a really good financial advise if you'll ask me, something that not a lot of GenZ financial advisors on Tiktok or any other social media site ever had the second-thought of suggesting, well maybe because the acquisition of skills is being downplayed right now in favor of owning micro-businesses and outsourcing people with skills that you are looking for, which is still a great thing, but in financial hardships like what's to come in the future, is definitely something that will not thrive that well.

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Quote from: autumnleaf on March 15, 2023, 08:59:07 AM

That is sound advice, in my opinion. I think that nowadays, having skills in addition to education will help people when they are looking for work and adjusting to real life.

It's giving us to have more chances of being hired as that's what the employers want. They want specific skills from someone who they're hiring and it's a bargain to them if the candidate has more skills that can be used while they can give a salary that's on their budget.

Quote from: autumnleaf on March 15, 2023, 08:59:07 AM

In my opinion, every university should provide instruction tailored to students' abilities in order to develop their prospective talents.

AFAIK, most universities and colleges have got that and it's part of their curriculum.

Iroh

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Acquiring a skill is a necessity in the world we live in today and an advise to acquire one is definitely a good advise. With numerous economic crises that has been rocking the world, jobs that were in sufficient quantity are fast disappearing or/and are being mechanized.

The best way to stay on top of all this economic woes is to acquire a skill that is sourced after and can be easily utilized. For someone that went to college, a skill is an added advantage, sorta like a bonus certificate added to the one gotten after graduating.

I’ve seen times and times again where employers choose skilled workers over workers that has the necessary certification but lacks the necessary skills for the job. So yes, I think the advise you got is a good advise. An advice that can never be repeated enough times.

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