| Despite the way he was savaged for it, last year when one politician said the state of the economy was in part a matter of the mind – he was speaking truth. |
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A recession is a slowdown in the economy. What does that mean? People (whether as individuals or businesses) are spending money less freely. Less is being spent, less is being bought.
People are laid off, they have less money to spend, businesses go under, less money is spent.
A vicious cycle but entirely a mental one to the degree that it is driven by confidence – the expectation that someone will obtain more money to replace what they have now, so it is okay to spend it.
The media and many politicians are doing such a wonderful job of driving down expectations. So what can we, the common people, do to thrive personally and to help turn the economy around?
Other than, that is, no longer reading newspapers or watching TV news, and recalling the elected officials who are so helpful to us (“I’m from the government and I’m here to help you”)?
Marketing.
Marketing is all about creating desire to a point where someone acts.
You ever see a teenager who REALLY wanted something? A new bicycle or video game or his own cell phone? He all of a sudden gets very energetic and goes out and makes some money mowing lawns.
Really, a recession is a compound of the number of people who have given up.
I was talking to an employee of a company, about a major Internet marketing project. I called back the other day to follow up on it and was told he was no longer there. When I explained what I was calling about, I was told that they aren’t likely to do any marketing – they were trying to get rid of people.
You might as well be told, seeking a bandage for a spurting artery, “Oh no, we need to save on bandages so we can afford to save more people.”
Doesn’t make much sense does it?
If you don’t have enough business, you need to get smart and promote yourself more business.
In this economy, business owners are cleanly splitting into two sorts. Those who are hunkering down and hoping to ride out the recession. Many of those will be gone by the time the economy improves.
The other sort are businesses who are greatly increasing their marketing effots to not only make it, but to expand.
I know it can be said, “Sure, you’re in the marketing business, of course you would say that is the answer.”
That doesn’t mean it isn’t the answer.
In every recession – even in the Great Depression – there are people who became millionaires.
Which sort will you be?
