With the present economic outlook, do you think that this is good advise? - page 2.

virasisog

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Quote from: Hispo on March 15, 2023, 12:00:25 PM

It makes sense. I specially agree on the acquiring skill part.
There will be always place for people with skill and talent to help the development of society, even if one's specific society is not in need of those skills one can have, in tis globalized world, now it is possible to exploit those skills and talent and work from distance or get an job offer in another place.

The world is getting smaller as time passes.

Acquiring skills after having a degree is still an advantage because we can grab more opportunities especially in the virtual business nowadays. Focusing on the degree without acquiring skills will make you stagnant and you won't grow.
These days, skilled employees are more indemand than degree holders. Employers require skills over certificates though having a degree is also an edge when it comes to credentials for some companies.

Findingnemo

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Quote from: Davidvictorson on March 11, 2023, 03:24:30 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?

Acquiring more skills while doing whatever we are currently committed to is more preferable and that is what most experts suggest too or atleast the ones I am following because they are completely transparent and never screen what is happening with bold statement even if its against government and current policy.

Making multiple sources of revenue should be the goal to get better in this competitive world so work hard as well as smart when you can then only you can enjoy early retirement.

Yatsan

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Quote from: Davidvictorson on March 11, 2023, 03:24:30 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?

Would be good if you have the capital,but how would you trade if you don't have it? You may ask for sponsors but how will they trust you? Let us face the fact that to most of the people a decent job should be prioritized first before engaging to investments and other assets. Pattern is; you will graduate and find a work, and afterwards seek for business or investment. Goal is to not work for your whole life and not to not work at all especially if you are less privileged. Whether high or low profit margin, check the necessity. We have different circumstances and not because something worked for them, same thing will happen on your end.

Hispo

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It makes sense. I specially agree on the acquiring skill part.
There will be always place for people with skill and talent to help the development of society, even if one's specific society is not in need of those skills one can have, in tis globalized world, now it is possible to exploit those skills and talent and work from distance or get an job offer in other place.

The world is getting smaller as time passes.

Frankolala

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Quote from: Davidvictorson on March 11, 2023, 03:24:30 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 matter the level of your education have a skill is an additional advantage to you, in the sense that,due to bad government and poor economy, your skill can take your beyond your imaginations. Skill is what you have acquired and it remains in you,which you choose to work for whoever you want to work for.

Small margin business will only help you to take care of your daily expenses at that moment or period but it is not a surety to riches but with your skill,you can travel abroad to work or anywhere that you find yourself, you can survive with your skill and make life out of it. Relocation is a big challenge for a small margin business.

kryptqnick

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It sounds reasonable, but it's often hard to predict whether you'll succeed in an industry with a high profit margin or whether that industry is even going to exist in a few years and still have the same profit margin. Some things get way cheaper, and then there can be a serious spike either in production cost or in the market price for reasons that could not be predicted a few years earlier. I think that people should focus on what they want to do and what they are good at, and even if it's a low margin area but a person really enjoys doing it, it can be a fulfilling life, whereas if someone does something just because of the high margin without having a passion for it and then it doesn't quite work out, that would be a disaster. But that obviously goes beyond the financial side of things.

autumnleaf

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

AmoreJaz

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Quote from: Dr.Bitcoin_Strange on March 14, 2023, 06:41:55 PM

From my observation, some people wait until they become graduates before looking forward to acquiring a skill, although there is nothing bad about it. But, come on, why not acquire a skill before hitting the university? And when you are there, you will definitely get little or high exposure if your skill is something simple and a service that people frequently desire. In my university days, there were these guys in the hostel: one was a barber, one was an artist that made designs on cloth, and one was a photographer, and they would all go out to do their work and still have time to study. Based on the advice you got, a small-scale business cannot yet make much profit, but if it's possible to start the business and put someone in charge of managing it while you still learn your skill, do so.

and be realistic about it, some needs to pay their debts so they gotta work. some of them are also breadwinners, so whatever they earn, will go to the basic needs of their family. but if the person has the inclination in enriching himself despite of the situation, he will find time to hone his skills as it will be his advantage over the others. there will be sacrifices but later on, he will reap the rewards of his hard work.

Dr.Bitcoin_Strange

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From my observation, some people wait until they become graduates before looking forward to acquiring a skill, although there is nothing bad about it. But, come on, why not acquire a skill before hitting the university? And when you are there, you will definitely get little or high exposure if your skill is something simple and a service that people frequently desire. In my university days, there were these guys in the hostel: one was a barber, one was an artist that made designs on cloth, and one was a photographer, and they would all go out to do their work and still have time to study. Based on the advice you got, a small-scale business cannot yet make much profit, but if it's possible to start the business and put someone in charge of managing it while you still learn your skill, do so.

samcrypto

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That could be a good advise since trading can also be consider as a business, and managing a business even if its a small business can be stressful as well and there’s no guarantee that you will make profit from that. I prefer to trade than to have a small business because its more affordable and less paperworks, all you have to do is to learn and implement your strategy, trading can be more profitable as well.

Huppercase

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Instead of this, I will learn skill that is demanding worldwide, this is also why I have choose to look into coding and programming before finishing school so that before graduation, I will have something in hand and with the skill, I will focus on how to have gigs and possibly apply for online computer science school to obtain a certificate I can use to get good jobs. I will focus more on the hussle than the main thing I study in school because I have observed that people don't get jobs this days when the finish school and become a graduate. Self employment is the best thing in this modern world.

harapan

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An advice that tells you to learn a skill is never a bad one. Having a proper skill and being very good at it is a very big plus as a graduate. The skill won't also stop you from going into the business you want to go into. I'm not a fan of small margin profit business but I don't say it out loud often so as not to discourage people. I totally agree that instead of spending time and other resources in that kind of business, its better you learn a skill. If you are in a position where you can do both at the same time then I'll advise you to do both.
Lastly, while learning a skill, chose a skill you like, a skill you enjoy and actually want to venture in. Don't learn a skill because people are making a lot of money from it so you dive right into it. If you must learn a skill like that then you must develop love for that particular skill or else it will be vey difficult.

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Quote from: royalfestus on March 14, 2023, 12:50:49 PM

Society and profession of graduation can be considered in this advice.
1. The level of unemployment varies from society to society. A few societies provide a job market where graduates are almost all employable, but few get interested in attending tertiary universities, so they may not have a clear understanding of the importance of learning other skills, more importantly skills that are related to one's career.
2. Discipline of graduated; medical graduates have a difficult time combining other businesses, particularly if they work in the same field, and most employers prohibit other related business operations that might create conflict of interest.

I think it is obvious that the culture that west has prevented them to have kids that grow up to like to be plumbers, and that is why some plumbers make more than doctors. This is why we have a lot of people who graduated from unrelated and unimportant fields that will not make a lot of profit and will lose a lot of money in the end, whereas we are going to end up with a lot of people who did not even go to college and make a lot of money.

My mechanic for example who fixes our car makes nearly 10x more than I do, not just himself of course he has a garage and his shop makes that but it's a proof that if you have a valuable skill, a degree means nothing compared to that.

royalfestus

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Society and profession of graduation can be considered in this advice.
1. The level of unemployment varies from society to society. A few societies provide a job market where graduates are almost all employable, but few get interested in attending tertiary universities, so they may not have a clear understanding of the importance of learning other skills, more importantly skills that are related to one's career.
2. Discipline of graduated; medical graduates have a difficult time combining other businesses, particularly if they work in the same field, and most employers prohibit other related business operations that might create conflict of interest.

Agbe

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Quote from: Davidvictorson on March 11, 2023, 03:24:30 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 really don't know what to say, because of the situation on ground. In the contemporary universities, everyone is force to learn handiwork or a skill which is a good idea but if I am going to study a particular thing in University and specialized in that thing, I will make a living from it and that was why I went to school and not compulsory that I must be a skill worker. All these things are happening base on lack of planning, and government failure and to wrap it all corruption from the governing bodies in the third world countries. If not there are resources in the third world Nations to execute the plans from undergraduate level and once you have finished school there is something you are to do. Advise was given because the government has failed his citizens and that is the only option left. And not everyone can do business.

avikz

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Quote from: Davidvictorson on March 11, 2023, 03:24:30 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?

This is a decent piece of advice! Learning a skill usually pays off in long run. It might not immediately start paying you but slowly you will start building confidance around it.

On the other hand, start investing in gold, Silver and cryptos because these are only investments that are going to protect your capital investment. Banking industry is going through a very difficult time and we are still unsure about the complete impact.

palle11

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Quote from: Davidvictorson on March 11, 2023, 03:24:30 PM

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

It is wiser and better to learn a skill even trading skill because it will help in the future rather than relying on the little profit coming out from menial jobs. Some people depend on the present income they get and are layed back from building themselves to expound and diversify their businesses. In the future, a small family will expound and that requires financial growth to take care of the new expounded home.

Flexystar

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The more you are skilled the more you will be rewarded and that's true fact. The knowledge should never be underestimated because any labor Vs Skilled employee cannot be compared just like. With these skills, you can always implement a high version of ideas and grow the business to the ultimate levels. If you are going to start a business and ask for the lessons from a practical approach then yes that's gonna work but that will take a lot of time. You will fall, you will stand again and you will fall again, and so on! The question is are you willing to spend that much time instead of spending some time educating yourself with the required skills?

I am pretty sure what the senior said had the above meanings behind it. He just gave you the short story but a meaningful life lesson with that advice. Definitely, you can go with it and earn yourself plenty of time to spend on good things.

hyudien

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Quote from: Davidvictorson on March 11, 2023, 03:24:30 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 agree with what he said because he gave advice based on his experience and it is proven that having the skills before coming to the company is a pretty smooth road. The reason is that this will be used as a reference by the assessor where you can be entrusted with carrying out the tasks that will be given later. I have a relative who just graduated and then applied to a company with no experience and no skills. One week he quit his job.
So the point is that skills must be honed while having enough time before going into the field where all the work is waiting and it's time for these skills to be implemented.

soramon

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I only agree with acquiring new skill. Learning new skill is really useful for your self. You can adapt to every changes that always happen. I mean this world is always evolving, development of technologies is always happening. If you can adapt money always follow you.

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