| Here are my 3 steps to turning this "lemon" of a | | | | media keeps harping on the disappearance of the |
| recession into some entrepreneurial lemonade. | | | | middle class, guess where most everyone is |
| I was catching up recently on the phone with an | | | | apparently moving? The TOP. Yes, that's right. |
| acquaintance of mine, and her talk turned to the | | | | Two-thirds of the middle class are movin' on up - |
| coming recession. "Oh no," I thought. "She's really | | | | just like George and Weezie. |
| buying into this." | | | | A recent issue of Time Magazine stated that |
| She went on to complain about the price of gas, | | | | according to federal income-tax data, "...the pie is |
| how everything's getting so expensive, how she's | | | | [still] getting bigger for everyone." And a June 18 |
| worried about her husband's job, and how the | | | | article in the Los Angeles Times says, "...there still |
| country's going to hell in a hand basket. And she | | | | won't be an actual recession, UCLA forecasters |
| knows all this of course because she watches the | | | | say." |
| news. | | | | You can always find doom and gloom if you want |
| Then, as our conversation took another turn, she | | | | to. So turn off your TV and use your brain. And |
| told me about the fancy new home | | | | even if you think this recession is going to be a |
| entertainment system her hubby just installed in | | | | big deal, see what it brings with it: A huge |
| their family room. And how her daughter now is | | | | opportunity for entrepreneurs, along with less |
| taking both ballet and piano lessons. | | | | competition from those throwing in the towel |
| I don't know about you, but as I look around I still | | | | because they aren't made for the game. |
| see people jammed into shopping malls and | | | | 3. Go where the profits are. |
| spending, spending, spending. Compared with the | | | | Those two-thirds who have moved up are what |
| rest of the world, we really have nothing to | | | | many are now calling the "mass affluent". These |
| complain about. And for you reading this article, | | | | folks are a BIG opportunity for us business |
| this recession will only be what YOU make of it. | | | | owners to re-engineer our offerings for large |
| Now listen, I know prices are going up for many | | | | potential rewards. |
| things. You may have lost some equity in real | | | | My marketing mentor Dan Kennedy ( -- |
| estate. And it may cost $75 to fill your gas tank. | | | | who’s "no B.S." attitude on the recession I |
| The family grocery bill may be higher than before. | | | | adore -- reported in a recent article that there |
| But it's especially important as entrepreneurs that | | | | has never been more discretionary income and |
| we do NOT follow the thinking of the herd. If you | | | | spending on a broader and more diverse range of |
| let the news get to you and become mousey | | | | premium priced goods and services than ever |
| with your marketing or waffle back and forth on | | | | before. |
| firm business decisions, you WILL feel the | | | | Dan was the first one to teach me that in normal |
| "recession". So it's important more than ever to | | | | conditions less than 10% of consumers truly buy |
| simply refuse to participate in all the worry. | | | | only based on price. He surmises that number will |
| Here are three steps to turning this "lemon" of a | | | | go up in a recession, perhaps even double or |
| recession into some entrepreneurial lemonade... | | | | triple, but it will still be the minority. |
| 1. Stop listening to all the media's B.S. | | | | (By the way, Dan has an excellent new book on |
| Mainstream news would make no money if it | | | | this precise topic, The No B.S. Guide to Marketing |
| stopped preying on people's fear. (You realize the | | | | to the Affluent. Everyone in business right now |
| news networks are not a public service, right? | | | | should get a copy.) |
| They are in the business of getting ratings to sell | | | | So it's funny that many of us are so worried |
| advertising. Period.) | | | | about what we charge. What we should be doing |
| Have you ever noticed that after watching just | | | | instead is looking at ways to make what we |
| 20 minutes of CNN Headline News you usually | | | | offer more valuable, more experiential, more |
| want to go curl up in a ball and die? I mean, you | | | | unique, more indispensable. AND what we all |
| may as well because the world's going to blow up, | | | | should be doing is looking for ways to take what |
| right? | | | | we already do and target it to the wealthy and |
| Everything is going to pot. You'll find negative | | | | soon-to-be wealthy. |
| stories on the environment, war, disease, crime, | | | | For example, can you offer a premium version of |
| and of course... the economy. It's laughable what | | | | what you already provide? Something that |
| they'll come up with just to broadcast some bad | | | | includes more 'hand holding', more services, or a |
| news. A few weeks ago at the gym I spotted | | | | more dynamic experience with you? Do a quick |
| this "headline" story on the tube along with some | | | | brainstorm on your own. |
| sad-faced puppies: "PETS: Feeling the Foreclosure | | | | It's Time to Step Up, More Than Ever Before |
| Boom!" | | | | NOW is the time to be bold, dear ones! While |
| So stop watching CNN all day, refuse to | | | | your competition sits around and complains that |
| participate in this circus, and instead start planning | | | | toilet paper has gone up $1, you unleash an |
| your first (or next) million. | | | | amazing new marketing campaign that blows 'em |
| 2. Look for the good news. | | | | away. While they hem and haw their investments |
| If you actually look around you in real life right | | | | have dropped, you snap up real estate deals on |
| now you won't see people holed up at home, | | | | the side. While they are convinced they should |
| huddled around a fire and eating rice and beans. | | | | charge less and cutting their profits to survive, |
| Yes folks may be cutting back their budgets a bit, | | | | you choose to reengineer, raise your prices, and |
| but it's pretty much life as usual. | | | | thrive -- growing your business faster than ever |
| I am told that just this past May the U.S. enjoyed | | | | before. |
| the fourth straight week of a declining number of | | | | Look for the silver lining... it's right in front of you. |
| people filing for unemployment. And while the | | | | |