Four Reasons Economic Downturn is Good Timing For R&D

Global economies run in cycles. What goes up must come down. Likewise, we hope that what goes down must come back up. When we understand economic cycles we see, however, why a downturn is a good time to invest in R&D. Obviously cuts are in order during a downturn, this article explains four reasons why R&D shouldn't be one of them.

1) R&D is a better bargain. Economic downturn is a buyers market. Corporate lay-offs and budget cut-backs can yield a multitude of redundant professionals for cherry picking. The well known Bersin & Associates encourages "Rather than 'freezing all hiring', you should use this as an opportunity to upgrade your own organization. " Supply vendors, also under increased financial pressure, may lower prices for you to maintain sales. For those with cash, downturn is time to buy up, not sell out.

2) R&D keeps businesses internationally competitive. Most companies would agree with this. Some examples are Taiwan, North Ireland, and the USA. R&D also finds smarter and cheaper ways of doing things internally, thus directly saving companies' capital. Some governments award subsidies to product innovation, especially to innovation that will be exported.

3) R&D investment is easier to focus. Poor R&D investment quickly becomes manifest. Durable brands and quality products distinguish themselves from gadgets that consumers start doing without when belts tighten. In times of financial crisis, well focused R&D spending can really make products stand out from the crowd. Develop products and services still appealing to the buyers who do have money, not those who don't.

4) R&D discovers new markets. A recent Business Week article entitled "Innovate Out of the Economic Downturn" called R&D related activity "the single most important condition for transforming the crisis into an opportunity". An example of this is seen in the American Biomedical industry. "The CHI and PricewaterhouseCoopers 2002 report, "Biomedicine: The Next Wave for California's Economy," showcases the importance of medical and biomedical research, development, and manufacturing to California's regional economies and ultimately, to the nation's health." - Business Wire

The afore-quoted Bersin & Associates went on to state, "Downturns should be expected, so plan for them. Do not be surprised or panic." Financial downturn can be a reckoning to see who really has planned properly - and who hasn't. Those who have planned for rainy days should reap these rewards of innovation at lower costs than during periods of economic growth, resulting in more competitive products and services to offer for the economic cycle's next financial upturn.

The Four Os For Finding Work (as a CAD Designer)

Personally, I think that the four Os for finding work are really more or less an elaborate way of saying "gather more information", with four keyword points that just help us remember four useful aspects. This article focuses on applying them to find work in design careers, but they can be used in other fields too:

1. Offer: You need to know what the actual offer is, the real "give and take" of your current job market. Knowing (and accepting) the general offer climate is important when negotiating any specific opportunities discussed in point two. Have you discussed your search with those who already work in the field? What skills do you offer now? Should you offer more? What are employers really offering in return? Do they offer more elsewhere (or less)? Is money your only consideration? Will you get a better offer in another line of work? Do not assume that a more affluent country automatically offers higher wages in all fields. Finding an appropriate salary survey sometimes helps, like this one from AUGI (Autodesk User Group International) for 2008.

2. Opportunities: Establish all potential employment you are willing to accept. Do you know all of the specific design opportunities in your region? Are you willing to work part-time? Full-time? There are a number of online contract work portals available:

• Elance
• ScriptLance
• CAD Ground
• CADAuctions
• GetAFreelancer
• iFreelance.com
• DesignQuote
• Sologig
• Space Master Interiors
• countless more... (comments and feedback welcome)

As a tip, I find the most successful job hunter is never unemployed, because to him/her finding a job is already viewed seriously as opportunity. One could ask oneself, "What opportunities am I NOT yet using to find work? For example, do my friends and/or family know I am looking for this kind of job? Have I checked with all local employment offices & employment websites? Am I willing to try contract work agencies and temp services?"

3) Obstacles: Know why you are unemployed now. Is it the area you live in? Is it your level of experience? Is it new technology? What is it? Be honest, at least with yourself. Know the answer and fix it if you can.

4) Operation: Once you gather information, use it to your advantage - even when you don't have a job yet. Understand intimately the needs of each potential employer before the job interview, not after. Know your market and find your niche in it. Learn new skills that are marketable. Find ways to meet others already successfully working in the field you want and listen to them. Sometimes CAD Internet forums can be useful for finding the right community of people to talk to. Finally, share your research with other people who are, in turn, willing to share with you. If you aren't sharing then don't have friends. But if you share too much, other people might just start to use you. Try to find that balance.