A Bad Economy is one of the best
times to start your new business! Just
turn on the TV, sit back and watch as the media takes delight in spinning up
and negativity twisting every piece of business news into more financial doom
and gloom. This makes people financially paranoid and they begin to expect the
worst as the norm.
On the bad
side: This turns people into fearful victims running scared with every new piece
of news they read or hear and causes everyone to start watching their expenses
very closely.
On the
Good Side: It also makes people evaluate their spending habits and stop
spending where they see little value.
The result is that businesses that
provide genuine value can actually do better during bad economic times. This is
because people will increase their use of businesses that provide value and will
avoid businesses that don’t do this well. This will cause these bad businesses to
fail and thus open the door for your new value providing business.
The way to make money in bad economic times:
Just create and deliver value.
Don’t only focus on making money, but
instead focus on creating and delivering value. If you provide good
content that people can use, you will do well.
A Web site called, SeatGuru.com was started by a man who was
flying frequently for business. As he flew he started observing the leg room
and seat clearance that he had on the various planes and took notes so he could
get a better seat on his next trip. His site is great because he keeps adding
more and more value by adding new
information about each model of airplane. He has added such things as how many
bathrooms it has, where they are located, whether they serve any food or drinks
and your choice options.
Creating value means that you use your unique abilities in a way that benefits
your customers.
Delivering value means ensuring that your customers actually receive the
benefits from the value you’ve
created.
Whatever you do, value delivery needs to be your primary focus
for income generation. If you become skilled at creating and delivering value,
you will go far with your endeavor and enjoy the fruits of your labor.
The simplest way to know if you are
doing it right or wrong is to observe whether requests for your content or
product go up or down. If they go down, you are doing it wrong! If they go up,
stick with it! It’s really just that simple.
You need to look at money for what
it is. Money is the unit we use to exchange one value for another value.
Money is what you receive in exchange for the value you create and deliver. If you can increase the amount
of value you provide you should see
an increase in the amount of “Money” or value
you get back in return.
If you try to only increase your
income “Money” without increasing the value
delivered, you will fail. That is because people will know when they are
getting ripped off and will avoid your business.
Just look at all those so called “Great buys” that are offered on TV that never work when you get them
home! These are one time wonders and you surely don’t want to be one of them! You
want to grow your business to be prosperous for years to come!
Another way your income can increase
is as you become better at creating value,
other people who are also creating value
in their businesses will notice you and want to partnership in ventures with
you. This allows your brand to be promoted not only by your business, but by
the other business as well. This will increase your income streams
exponentially.
As you review potential business opportunities
that you are considering getting involved in, make sure the one that you decide
on is based on creating and delivering value. If what you are
thinking of doing seems like a good opportunity and it doesn’t require you to create and deliver value then it is not a beneficial opportunity to you or
your customer and it is doomed to fail before you even set it up!
It has been my experience that creating and delivering value
is much easier than working at a job for someone else!
Why?
Because with a job you still have to
provide some form of value to your
employer but all of the residual benefits you produce turn into residual income
for them.
So why not enjoy those benefits for
yourself?
As you work creating and delivering value,
you get to spend your time doing things you enjoy doing. You get to choose for
yourself what you spend your time on. It becomes fun to spend your time doing
something that is enjoyable to you, something you are passionate about.
Whatever you do in your work life it is much
harder to do work that is not interesting to you on a daily basis. It’s very rewarding
to be engaged in work that can be valued
by yourself and others.
So make sure that the business you pick to become involved
in is one you will enjoy doing for many years to come! It helps if it’s already
a hobby or an interest; we tend to sabotage ourselves if we have to force
ourselves to do it. Just think of your last diet, how did that work out? If you
are like me, all diets should start with the word “Yoyo” on there label.
As you get better at creating and delivering value these actions will become second nature to you and
soon you will be attracting money that seems to flow in naturally with little
effort. It won’t even feel like hard work. Now won’t that be great!
Remember to look within yourself and
produce genuine and truly creative material and you will go far!
Be aware that you will be challenged
by the press, by your family, by friends and everyone else who are stuck on the
“Bad Economy Blues Mantra”. They will tell you that it is the wrong time to be starting
a new business. But if you deliver
fair and good value, your business
will grow! If you listen to them it will never be the right time and you will
always be able to find reasons for not starting your new gratifying life’s work.
I wish you success!
Mark
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