By edjones

Edward Jones is a YEP committee member and solicitor who specialises in advising the Property industry.
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Looking back in history there is an 18 yr cycle of boom and bust, with a less severe “dip” at 9 years.
In June 2009 we are probably 2 yrs/18 months into a 4 year “bust”.
I have not been through this before, so do I believe the older guys who say the good times will return?
Or is it different somehow this time around and are we in for decades of gloom and financial hardship in the property world.

But what should we do? We can’t just sit at our desks and wait for the years to pass. How do we make the best of the current situation – how do we identify and seize the opportunities that recession will bring.

And how do we position ourselves ready for the upswing. That is if we can see when we have turned the corner, as we are only likely to be able to pinpoint the start of the recovery sometime after it has happened with the benefit of hindsight.

Hard times often brings about innovation, so how do we catch a ride on the next big thing in our fields of work. Or just maybe should we look for something totally new.

In years gone by many young professionals enjoyed increasing salaries and expected to be promoted if we worked hard enough. But choices made are more important now, with some projects, departments and companies struggling or closing while others are thriving.

It seems we have to be smarter in our decisions, as just doing a good job is not enough to ensure success anymore. For many of my friends, as well as balancing their busy work and social lives, the last few months have been a time to look up and evaluate where they are now, and where they want to be.

Quite a few are concentrating on keeping their jobs, some are looking for new jobs, but others are looking where the opportunities lie – within their existing workplaces and beyond.

In the coming weeks Young Entrepreneurs in Property will write a series of blogs addressing the issues that face young professionals in the property and construction world.
If you have any burning issues why not respond to this blog and get the debate started.

Edward Jones is a YEP committee member and solicitor who specialises in advising the Property industry.
He is a consultant at Rawlison Butler LLP www.rawlisonbutler.com and can be contacted at ejones@rawlisonbutler.com or 07876 255 398.