Avoiding the Industry Resource Choke

Recent articles describing some of the challenges of solar companies (i.e. bankruptcy and facility closures) made me think about the natural progression of any industry.  You may recall an earlier post about how the telecommunications industry went through its own house-cleaning and the advice to stay informed with your chosen field.  It's just a matter of time before the renewables go through the same thing, if it hasn't started already.  However, do not despair and abandon your efforts to gain a foothold in the industry.  One of your responsibilities is to stay in tune with the industry of your choice and understand the dynamics.  Why is one company going bankrupt?  Is it a true depiction of industry strength or weakness? What is influencing change? Or is just the result of the cycle that all industries go through?  I would lean toward the latter with the belief that this is a good thing.

But let's step this aside from the obvious and start applying the same concept in terms of resources and networking groups.  Now is the time to start thinking about the networking groups that you're a part of and the resource sites that flood you with data and begin narrowing down where you should put your energy.  Just as the industries will go through a streamlining, the same will occur with the networking groups.  To stay ahead of this choke, here are my requirements:

1. Avoid RSS Overload - Some sites claim to be a green resource, but are merely sites that collect other site's information.  I avoid these because it can be difficult to determine what is "hot" and usually becomes a distraction.


2. Over-promotion - I've seen plenty of sites where the trend is see a new "green resource" promotion every week.  Get used to finding these, but avoid if possible.  It's all part of the young industry environment.


3. Global Perspective - Understanding what is happening in your state is important, but recognizing the global interdependencies is key.  Think of the term "trickle effect."  The word trickle seems to be the more appropriate word and is supported by the differences in adoption rates from country to country.  However, knowing what has the potential to hit your shores makes access to this type of information invaluable, especially when you're developing your career plans.


4. Real Experiences - Look for the groups that focus on informing you with real experiences.  Site's with members that are willing to share best practices is the best place to safely "dip your toes in the water" for your new career.

My preferences? LinkedIn and StockTwits

LinkedIn provides access to specialized groups and has a global element to it.  In addition, the site highlights trending news and hot discussions within those groups.  Although the majority of sites out there allow commenting, your questions asked in the specialized groups not only reaches out to the professionals within in them, but also the contacts in your personal network who are more inclined to help you solve your problems.

Stocktwits is another resource that I would recommend.  You may be asking why I would refer a trading site, but join this community and you'll find individuals who are dead serious about making money in the market and the only way to succeed is to be knowledgeable in your preferred trading sector.  There are numerous energy-focused traders worth following with a strong grasp on macroeconomics.  You don't have to be too involved with this community if trading is not your thing, but you can follow industry experts and stream their knowledge in real-time.

Refine your efforts and ensure that your energy is best spent with groups that will help you navigate the industry, not cloud your judgment, and will most likely be around throughout your career.

I look forward to hearing your suggestions on additional groups/resources.

Good Luck!

~Michael Dela Pena