Motivational speaker Anthony Robbins* spoke last week for about two hours to a group of speakers and Internet marketers (I represent the group as legal counsel) about the state of the economy. His premise is that the economy cycles in four 15-20 year phases, and each phase is sequential (no skipping). He contends that we entered the current cycle back in 2000. Under this scenario, if Tony Robbins is correct, don’t expect the economic recovery to kick in until sometime between 2016 and 2020.
This is consistent with the Jimmy Carter-type “general malaise” you see in the economy as businesses close, credit spending dries up, and big corporate dinosaurs line up at the government trough asking for taxpayer money. Throw in the Federal Reserve’s doubling of the money supply during the past year and a Congress that puts your grandkids into debt to spend borrowed money now on pork projects, and you’ve got a recipe for a stagnate economy that will give President Obama an FDR economy without four terms and a world war (knock on wood) to turn it around.
That’s the macroeconomic picture. But what’s it mean for your business?
Focus on the fundamentals. Delivering value is going to be key.
Say goodbye to the $5K get-rich-quick packages and hello to lower-cost biz opps that cater to part-time second incomes and work-at-home opportunities. There’s a reason why the Avons and Amways are running commercials right now targeting part-time income seekers. MLMs know that’s what sells in recessions.
Scammers will target this market too, which means the Federal Trade Commission and state attorneys general will be looking more closely at biz opps in that arena to protect the consumer. If you’re really delivering value, this won’t be an issue for you.
Because client loyalty and word-of-mouth referrals are going to be important to survival, be sure to follow up with your clients to ensure that they receive the benefits of what you sold them. If they can’t see a benefit, they won’t buy again and are unlikely to recommend you to others either.
As a final note, consider cherry-picking businesses or assets from those businesses that you want to acquire. There’s a general panic among both brick-and-mortar and Internet businesses right now. There are bargains to be had if you’re willing to take calculated risks.
Photo by Steve Jurvetson
*Disclaimer: No intellectual property claim is made to the terms “Anthony Robbins” or “Tony Robbins.” Any intellectual property rights to such terms belong to Mr. Robbins and/or his companies. Anthony Robbins does not endorse and is not affiliated with this website. References to him on this site constitute fair use, are not for a commercial purpose, and are protected free speech under the First Amendment. No animals were harmed during the writing of this post. Isn’t it ridiculous that a disclaimer is needed?