Is The Economy Affecting How You Do Business?

Is The Economy Affecting How You Do Business?

economy affecting business

source: greeleygazette.com

In many gas stations in the suburbs of Pennsylvania where I live, gas has hit the four dollar mark. When I shop for groceries, I must admit that for years I did not pay attention to prices that much. I have certain things that I buy every week – and I buy them. Regardless of the cost. But I must admit that in 2008 I paid attention to the price of milk. It was outrageous. And now I am paying attention to the price of the block of extra sharp Cracker Barrel cheese that my family and I just love. It’s a little over four bucks. Maybe more depending on the market I’m at and the neighborhood that market is in.

My point here is that the economy is precarious. People who may not have normally paid attention to the price of everything that they bought (like myself) are now paying attention and making discerning choices about what they are going to spend their money on.

Now more than ever we have to be a bit more selective about what marketers and business owners we are going to spend our money with to further our own businesses. We are a little more careful about what products, books, coaching programs, and membership sites we join. And the same goes for our customers. They are going to be a little more hesitant to click the button and so they are going to need to see further “social proof” and other credibility factors to feel comfortable doing business with us — if they’ve never done business with us before.

Perhaps you are not doing all of the things that you did a year or two ago to gain traction in your marketplace. Maybe you’re going to skip that seminar you were thinking about attending or passing on that cool workshop that you wanted to take. Perhaps you are only making enough money to sustain the costs of doing business and you just don’t know where you would find the money to get the word out about your latest service, product, or event.

Are you so paralyzed in your business right now because you are afraid of spending money on the wrong things? Or are you petrified of not making money this month because you don’t think you can convince anyone to spend money with you right now? Well here are a few of my thoughts on that…

1. The economy should not stop you from moving forward in your business. In fact, what it should do is make you think how you can move much smarter. What tasks could you eliminate from your everyday routine that are not really moving your towards your business goals? What fat could you trim? What things really worked for you last year? The year before? Whatever they were, think about how you can do more of that; maximize that marketing strategy.

2. There is no ONE answer for anyone and everyone on how to make even $1 online. I know this is scary, but I bet there is someone out there who is reading this article, has been in business for over a year, and has not even made $100. That’s usually because they are listening to 10 different experts teach them 10 completely different strategies, which may have worked for those individuals, but probably won’t work for them. Find the one strategy that resonates with you — and run like hell with it!

3. Scared money don’t make no money. I know that’s some old-school gambling saying or something — but it’s kind of true. If you are scared and skimpy with your investments in yourself, you probably will see very little reward. It’s a karmic rule. You basically get back what you put in. If you smartly invest in yourself — you should see your investment come back to you with interest. So what I’m saying here in a nutshell is now is not the time to completely stop investing in your growth – just be selective with what you buy and what you do. And whatever you buy — implement! Don’t just let the knowledge roll around inside your head for a week and then just move on to the next thing. Use it!

4. Don’t fall for the okie-dokie. Okay, even people on “fixed incomes” are buying Kindles, iPads, and flat screens. Don’t fall for the okie-dokie and believe that no one is buying anything in this economy. That is far from the truth. In fact, just recently I read that online retail sales were up like 16% in March of this year. There are customers and clients that are willing to give you their hard-earned dollars, you just have to convince them a little more than before that you are trustworthy, that you know what you are talking about, and that money invested with you will be money well spent.

*Tight Economy Tip
One of the easiest things that you can do today to not only maximize your visibility in today’s economic climate as well as build your trustworthiness among potential prospects is to publish. Digital publishing is free and it’s one of the easiest things you can do to establish yourself on the web today. Publish content that people in your market want to read and you can conquer the world in any economy! People will always search for answers, for knowledge, for solutions. Remember that if you provide those answers, that knowledge, and those solutions that you are well ahead of your competitors in the trust department and the credibility corner.

Over the next few days, I will be discussing strategies for building your online credibility and your trust factor via free, digital methods. I look forward to freeing you from the thoughts and actions that may be paralyzing your progress and start moving you forward to a better business with more profits. You can make money in this economy no matter what the niche. It’s all how you position yourself.

Have any questions on this topic? I’ll answer them in the next article. Just leave them in the comment section below.

Comments

  1. says

    My blogging decisions are not affected by the state of the economy, but I am one of those bloggers who have been doing if for more than a year without making money. I have two blogs, and so far, I’ve not generated enough traffic to work much on conversion. I figure that content quality, content depth, and blog longevity come first, and then I’ll turn my attention to making money. I’m the first to admit, though, that generating traffic is much harder than I expected it to be. Thanks for your article!

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