The correct thought process for hard economic times
I’m in Miami for the weekend. I’m up early and feel clear. I decided to write in my blog about a topic that is close to many of us. As we head into our generation’s great recession, there are a few things that are ultra critical for getting through to the other side. Let’s first look as some of the challenges.
First we have massive layoffs and businesses folding and closing their doors every day. Home are foreclosing at a similar pace, an offshoot of the buisness slowdown. The government is seemingly unable to do anything about it, in fact the level of corruption could be likened to some far off bannana republic. Nothing makes sense and everything is changing at a rapid pace. I’m scratching the surface here. We all know the bad
Let’s change gears and move into the good. Here is the first and main golden nugget. It requires an immediate change in thought. You’re going to have to seperate yourself from the 99% of the masses into the 1% elite group that see something else out there… Massive opportunity. Everywhere you look. Everywhere you go. Massive opportunity. The price are coming down to 1990’s levels, people are selling off assets, selling homes, condos, cars, luxury items and more for pennies on the dollar.
Gas is cheap again, the sky is blue if you want it to be. Now lets be very clear. This is not a pie in the sky dreamers view. You must look at this from a purely business view point. People that will have real success in these times will identify a niche or basic service that must be filled and they will run with it. They will specialize and get good in that particular area. They will grow by adding other products or services in the same arena. The idea here is to become a trusted expert in your particular field. Note: Make sure it is something you love and can do 1, 3, 5, 10 hours a day.
The correct thought process begins with seeing everything as an opportunity to make a profit. During the great depression, while the masses were down and out, fortunes of untold wealth were created. The spark was ambition, the driver was opportunity. The difference were those that took action. Now fast forward to 2009. We have a series of tools and an online marketplace that was non existant just ten years ago. Let’s go technical for a moment as I lay out a quick system for building income. This may seem basic to some of you but here goes.
Find items to sell in your niche or area of interest, place free ads in craigslist.org. Test here and write clean copy. The more descriptive and better the reason that you explain why the potential buyer would benefit from your items the better. Craigslist is better for larger items that are not good for shipping, ie beds, tables, chairs. The secret here is to buy in the offline local market and sell in the online national market. Think buy from small, then sell to big.
Take small or highly specific items to the larger Ebay.com. Ebay charges roughly 20% with all their fees, but you do get paid instantly. Do this by creating an account and setting up a paypal.com account at the same time. Get a low cost digital camera and some photo editing software . These are business tools of the online retailler. Don’t tell me you don’t know how to use them, no one did before they started.
Now lets go back to the thought process parts for a moment. Its not just about seeing opportunity, its about adding that little piece of magic, called the willingness to learn or rise to the challenge by doing something new. Learn how to use the camera, learn how to use Ebay or Paypal. Don’t make excuses. Do it.
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I’m going to throw a final thought at you. Mental clarity. Do you find yourself feeling down or negative. Sure, we all do. Here is a surefire way to blow out the cobwebs. Get active. Go for a run or a bike ride. Play some sports. Go for a walk. Do it for long enough that you start to enjoy yourself no matter what. I got rid of my cable tv service a year ago and have never looked back. In this economy the $100+ dollars a month you save can do a lot for your small business.
Lets end this one here. Feel free to email me at shawn at shawnpowell.com if you want to discuss my comments further. I’m heading out for a bike ride by the beach and then a healthy breakfast before I start working. Cheers!
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Shawn Powell
March 10th, 2009 at 1:21 am
Great stuff Shawn!