Embrace opportunity rather than run

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The pandemic and the lockdowns it led to may be unprecedented in scale and reach, but even in the craziness there are opportunities to be found – and that is what will separate those who thrive in the next decade from those who battle to survive.

Wealth Migrate’s Wealth 5.0 is all about preparing for the next 10 years – while the pandemic has changed the landscape considerably, this does not mean that we cannot get ready for what the new decade will bring.

As upside-down as we all feel, the global economy was due for a correction and the coronavirus was just the catalyst to set the process in motion. Even if you are ready to embrace change, a correction can be completely disorientating, and it is easy to focus on the crash and the subsequent downturn as our emotions overwhelm us.

But, with a few breaths and a moment of contemplation, you can focus on where the world is heading and what that means for you. It is about understanding the long-term trends, adopting a less emotional approach and investing in the future.

The dominance of the internet has shown the value in being an early adopter. The early adopters tend to be those who move towards pleasure – like those who had cellphones in the 1990s because it was cool – while the majority move because of pain – those who were forced to get a cellphone because it was almost impossible to function without one.

Few people saw the value of online meetings with colleagues or clients, but Covid-19 has forced millions of people around the world to embrace the technology – and Zoom is reaping the benefits.

Despite – and possibly because of – the Covid-19 pandemic, the 2020s promise to be an exciting decade, when people will face and overcome huge challenges. Where you are in this depends on your perspective, and whether you are ready to embrace the opportunities or fight the inevitable change.