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.

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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.

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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

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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.

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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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Quote from: Hispo on March 15, 2023, 11:00:25 AM

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.

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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?

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.

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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?

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.

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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.

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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 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.

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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.

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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.

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Quote from: Dr.Bitcoin_Strange on March 14, 2023, 05:41:55 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.

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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.

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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.

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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.

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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, 11:50:49 AM

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.

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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 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.

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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?

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.

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

Hydrogen

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

avoid a small margin business and instead acquire a skill or learn a trade where there is a reasonable profit margin.

Most small margin businesses I know of are ones which lease a warehouse or storefront location. They have a double rental expense between their residence and business location. This format usually exacts a heavy toll upon profit margins. In cases where rental costs rise, their profitability can disappear overnight.

Its much more affordable and profitable to run a business out of ones own residence or garage. While it may not be zoned for running a business. Benefits usually outweigh disadvantages.

In a worst case scenario, where the economy crashes and everyone regresses to a barter based system. Having some type of skill or trade is a better position to barter from than having a small business.

DOH!

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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?

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.

ethereumhunter

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If you really intend to become an entrepreneur and open a business, that is a good suggestion. We must be more creative to develop our potential during the current economy. And when there is more unemployment, we can try to work alone. And even though we haven't gotten a big profit for the initial stage, it can still be developed further because we still have a lot of time.

But if you still want to try to work in an office, you have to prepare yourself to have more skills and abilities because with a lot of unemployment out there, you have to compete with them. It won't be easy because more graduates are from more well-known campuses. We must adapt to the situation and try opening jobs for other friends.

Majestic-milf

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Quote from: RockBell on March 12, 2023, 05:48:35 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?

looking at China, they mostly depend on skill there and it works for them because looking at their population the government can not satisfy them when it comes to getting a job. So to me, a skill is a piece of good advice.

You've got a point there. These days, we've got businesses or jobs that may not be able to pay you for your skills, some may want to milk you dry all cause you are dependent on that job as to settle one or two bills.
Personally, good advice like these rarely come and if a statistics be taken, you'd discover that those with the needed skills set most times do better than just the average graduate and have better edges.
It's quite true that you'd stand to gain more when you pair your business ideas with a little bit of skill because that helps to sell you more.

GeorgeJohn

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Not everyone are destined to be successful through trading, the instinct of human sometimes direct the person where it propagate in life, learning trading is actually good as someone who is lover of cryptocurrency, but as aspect of encouraging everyone to queue into Trading as sources of surviving is not really encouraging because you most have capital before venturing into Trading, secondly the risk measure of Trading is high, its better to venture into business you know better doing than joining trading that you don't know the implications, trading is not assurance business that will guarantee someone success.

RockBell

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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?

Having a skill at hand despite being educated, the rate of unemployment is rising significantly, changing governments or not, it has been a global issue that every government is battling with, is just to get a demanding skill or go into tech and once you are good at what you do you will definitely earn well, looking at china they mostly depend on skill there and it works for them because looking at their population the government can not satisfy them when it comes to getting a job. So to me, a skill is a piece of good advice.

Iadegbola34

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This is the reality that we live in. In my field, your graduate certificate is a secondary requirements to what skills you can actually offer to the production/supplies line of an organisation. To take up software developer role, you may likely not be asked for your certificate if you're excellently knowledgeable in the area of interest.

Pokapoka124

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It’s good advice. Not is everyone is cut out to be an entrepreneur, it takes more than knowledge to manage a business. I think young grads should research the top earning industries and learn a new skill that can help them transition or leverage their degree in that industry. Internships are also a good way to start one’s career. Don’t focus on the layoffs, companies are hiring.

Gyfts

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Recent grads and newly formed small businesses present unique challenges because of the lack of experience. IMO, you're better off entering the job market and gaining experience before incurring debts associated with small business start ups.

You lose nothing if you're terminated from a job. Even if the unemployment rate is high and it's difficult to find a new position for adequate pay, your risk is minimal. If a business goes under, you're still on the hook for the debts depending on the type of business.

Despairo

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Not really if you're need money in hurry to feed yourself or your family, some people can do both where they're working under someone company for 8 AM to 4 PM and then they will learn about new skill when they've back on their home. You need to know trading isn't for newbie and you will not always make profit, actually you will lose money because it's need trial and error.

Sarah Azhari

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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?

It depends. because as I know a skill we can't get if don't have experience in business, trade or any kind of job. If the recent graduates don't have a job and only can produce a small margin on business I think he must continue it even it the risk lost money. Yes, he will lose the money, but he can get the experience that he can't get on real-life trade. And, usually, the skill will be obtained as long with time.

Jody.Drummer

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I am quite agreed with it because to study some clear skills will be very profitable. It is not easy to do that now but when it can be obtained, it is clear that the qualifications we have become bigger and that is something that is very good. I think what your mentor says is right because in this case it will be time to take time again but the results obtained will be clearly commensurate even though this will be a little slow from the conditions that should be but this is also one of the good things to do.

serjent05

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There is nothing wrong with investing time in one's future so I think your senior advice is great. It is very important to invest time in acquiring skills and learning a trade since we never know when it will become handy. Having skills often creates more opportunity to us, may it be employment or self-created services. Rushing to get employed and be employed by small marging business will only hinder our progress since this kind of company's financial capability is limited and oftentimes limit our personal growth just to maintain our wages and keep us bound in their company. And establishing a small-margin business can easily ends up in bankruptcy when an unexpected event happens because of the little profit the business gets.

teosanru

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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?

Both a Yes & a no. Small Margin business ideas or what we can call home startups look pretty lucrative as less capital is generally required to open them and you can easily make your living using them. But if you see the current trend in most developed and developing nations, the trend of the market is changed and a shift towards buying things online and from major stores has been there. Also seeing the development in technology it looks as if this trend will obviously continue. Which means these low margin business will always be struggling with the footfall as we progress further. But yes in this current unemployment scenario it's a good option, as best one if it can be done as a side hustle.

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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?

It's a very good idea and he's speaking from experience, working for yourself being independent is a good thing to go for in life because it helps you create a brighter future with your adequate preparations made on ground towards achieving every targets set, being self employed as an entrepreneur is an advantage to take and make use of effectively because not everyone has this same opportunity, the earlier you discover your potential and begin working towards it will distant you from working under someone.

lionheart78

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I also think that it is really good advice. Being employed in a small-margin business is somehow not beneficial in the long run. Since the business have a very small profit, they won't be able sponsor their employee to train or acquire skills. Aside from that it is obvious that income growth in this kind of environment is very limited. Although it is beneficial in the short term especially when we are looking for a start-up source of income, acquiring a skill or learning a trade is far more beneficial in the long run.

If someone is able to acquire a skill or learned a trade, the possibility of being employed by good companies becomes higher, and the person will have the capability to start a business because of the knowledge skills, and experience he accumulated. at the end of the day, those who have the skill and talents often reap a higher earnings.

You can also check this article[1] on how important learning new skills is and at the same time the importance of learning a trade[2].

[1] https://www.piedmont.org/living-better/the-mind-body-benefits-of-learning-a-new-skill
[2] https://ca.indeed.com/career-advice/resumes-cover-letters/trade-skill

Adbitco

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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.

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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?

It is not just a good advice, but a great advice. Small margin profit business will take your time and effort, and at the end, all the profit you make in a long time will be nothing compared to the profit that someone who involves himself in a high paying will earn in a shorter time. If you must be involved in small margin profit business ensure that it is just for a very short time and not what you have long term goals for. You can be involved in a small margin profit business and still pursue your skill which you intend to do for long term, let the small margin profit business be a stepping stone.

BIT-BENDER

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I also think there is are some points you can take home from that advice mate. Come to think of it check how many small business owner you know especially those who owns a small daily needs store and calculate how many years you know them, they actually don’t do big things and are more of the time having what they can use to feed and settle other necessary bills.

To do big you ought to aspire for more and learning is one way to do so. I think it’s more like investing in yourself and never settle for less. But also there are those with big mind set that started from small investment and still made it.

sunsilk

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It is a good advise in my opinion about acquiring skills. You don't have that much qualification but being a graduate and most companies are no longer focusing with that.

What they like is what you can bring to their table based on the skills you've got. And that's why learning some skills before applying for a job is gonna give you an edge from other candidates that could also be fresh grads.

The more skills you have, the higher chance that you might get employed as a beginner and from there, you'll think about it whether you want to hone that skills or you're good being like that.

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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?

Topic: With the present economic outlook, do you think that this is good advise? (Read 394 times)