Property booms come and go, they always have and they always will. Is it conceivable that in another ten years we could have another property boom here in Ireland? Resoundingly, YES. Its unlikely to be quite as strong or of such long duration (and you never know), but what is certain is that over the longer term that property prices will resume their upward trend. Quite simply, they always do and will again.
The thing is many of us are interested in eating, going on the occasional holiday and enjoying ourselves over the number of years, and the idea of waiting for another property boom doesn't really appeal.
The trends or patterns that stand out during the property boom do however apply to all small businesses, and when we recognise that the same skills learned as part-time landlords can be transferred to other business opportunities, then we begin to get a glimpse of the light at the end of the tunnel.
Home businesses, which is what most peoples property ventures really were, whether full-time or part-time are the next wave of business growth in Ireland. Large scale manufacturing and factories are a relic of the past, and the future is in personal responsibility for your own financial success.
The business buzzwords for the future success of this mini revolution will be low overheads, the internet, network marketing, and exponential growth.
There are a world of opportunities like this on the market at the minute, and although we don't know it, Ireland is one of the best places in the world to set up such a home based internet, network marketing or other similarly themed venture.
The fact of the matter is that the Irish talk a lot, to each other and to everyone else. We speak the English language with our own unique accents and people love it. They're automatically more receptive to us. We can sell, often without trying very hard at it, and we already have some huge "networks" before we even start, simply by virtue of the fact that Ireland is a small country. We often stay in touch with people from school, university etc, come from larger families than many other countries and
just know more people.
I'll give you an example, a few years ago Curves the ladies only fitness franchise came to the Uk and Ireland at the same time. In both places the franchisees had the same issues to deal with primarily getting their message to the market, allowing them to demonstrate the strength of their product and its unique benefits, those being a 30 minute workout that combines strength and cardio training, but more importantly a facility only for women.
While the membership take up in England was quite slow, the gyms in Ireland took off like a rocket. It was so significant that the owners of the Curves franchise decided to find out exactly what was going on to make such a difference, and their conclusion was that in Ireland we just talk a lot. Because communities were smaller and family/ friends connections larger the news spread so much quicker.
So when you sit down later on to think about how exactly you can best take advantage of the current economy, remember the unique benefits of this fantastic country and plan to make your fortune.
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