What are your Rays of Hope during Recession and Economic Crisis?

OK, I'm not sure if this is the right place to post this - however, it seemed the most apt, given that this is still a"popular" topic.

A couple of weeks back, a bunch of mails were floating around on the IIM-alumni eGroups, exhorting people to visit the campuses (all of us saw those news items about the poor turn-out).. A friend of mine sent this, fairly well thought out list of alternatives which, I felt, desreved a wider audience.

For those of you who are interested - do write to Jeetu directly (email given below).

10 ways to beat the Placement Dowturn

 With an Upturned Attitude

 

Jeetendra Jain, Batch of 1992, IIMB

jeetendra@roadmapconsultancy.com

 

 

 

1 Those who can - Teach!

Teach for a year in India’s reputed management institutes (including IIMs) and / or teach in Technical / mgmt institutes in Dubai, Singapore, Malaysia, etc – this is something that IIT students are doing and some in SE Asian region may pay well too.

 

2 Entrepreneur Bug

Work with Indian entrepreneurial companies on a strong profit sharing mode to increase their business, and keep a lower fixed salary. The entrepreneurs will love this, specially an MBA chap showing the way.  Class B towns will be a fantastic bet to explore.

 

3. Innovation  Crisis Consulting – show the way

Classmates who vibe with each other can form batches of 3-4 or more, set up a website and offer their services to those companies suffering from the downturn blues……and facing challenges in a receding marketplace. They can offer HR, Cost Saving, Demand expansion and other methods to help this.

 

4. Back to School

While the PGDM, MBA program is itself a fantastic achievement, those not placed or not wanting to be placed as yet, can choose to get back to the classroom. It is a fantastic time either to join a technical course which you wanted to do, or join one of the on-line universities, get to do lateral courses in arts, sociology, law,  music etc which is high on one’s wish-list. Invest in your avocation.

 

5. Hardbound your Bestseller

Given that MBA grads have been well tutored in writing, presenting, it is a blessing in disguise, this sabbatical of non-placement to write that bestseller waiting to come out. Again if there are a set of 2-3 like minded ‘writers’ then this is the time for them to unleash Al Ries, Porters, etc from their minds. Writing can be profitable too, besides the glory.

 

 6. NGO Calling

Several NGOs badly need hands, legs and brains to make their visions happen. This is one wonderful time for  grads to do some social innovations and make a huge change in the way they perceive “management” by going out there and doing something wildly different – on a very low sustenance salary. Will stand out brilliantly in the resume too….as a different leadership challenge. Or better still create an NGO !

 

 

7. Tutor the Young

Go teach the engineering and mba aspirants in the city, neighbourhood, college etc and charge them a good fee for this ie do a ‘Career launcher” number.  This is probably simplest, fastest and most productive too without capex involved.

 

 

8. Alma Matters

Wonderful time to go back to your Alma Mater and teach there at a low fee. They will thank you for it and you will thank yourself for doing this.

 

 

9 Cut a Deal

For those larger companies who are innovative and experimentative in their HR policies, one way is to offer oneself at an attractive salary cost structure ie low fixed and high variable on performance– surely technology firms, software firms and several larger firms will jump at this to get an MBA cheap and ready to take a risk.

 

10. T.A.J.

  TAJ - That is “take any job” ie take the first job that sounds good. Take it up sincerely, turn the job, profit centre, business around soon and move up the fast track. Put all your best strategic, management skills to test. Get baptized by the fire.