John Jantsch is a marketers marketer, and if you’ve never heard of him, get to know him. I’ve learned a lot from the man, and that’s one reason why I’m publishing this post.
It’s simply a repost of an article that he wrote a year or two ago. I’ll be posting it here and in my other site Dynamic Detroit
Well enough jabber. Read and enjoy and if you like it spread it around and share John’s extensive knowledge.
When is the Recession an Opportunity in Disguise
John Jantsch Duct Tape Marketing-John Jantsch of Duct Tape Marketing has done a great job of sharing with us how we can benefit from the current economic situation we are in right now. I am here to share with you how to take each one of these ideas and turn it on it’s head so that you can shift your currently reality into one that benefits your business right NOW! (his words are in italics)
Much of what is written about the economic downturn focuses on the harsh realities of cutbacks, layoffs and even bankruptcy. There is no doubt many businesses have been adversely affected already and I suspect more will be as 2009 unfolds.
By addressing your feelings from the onset you are not being controlled by the fear that can sweep through your and your team’s mind when being surrounded with negativity.
However, the silver lining in all of this bad economic news is that opportunities for long-term growth are also being created. Now, I’m not one to suggest business owners prey on the misfortunes of others, but there is no question that many nimble small businesses can benefit from the current state of the economy in several very tangible ways.
This is a perfect position for Solopreneurs and Micro-business owners. So start thinking of the benefits to you and your business and what it can mean for you today.
Acquire your competitors
When the market roars along, even shaky businesses can seem healthy. When business slows and customers start to hold on to their money, weaker competitors often fold up and send their customers fleeing for more stable providers.
How do you show up in the market? Are you talking with everyone about how bad it is int he economy or have you taken a more enlightened approach and seem the opportunity? Have you shown your clients ways they can benefit from what is happening thereby casting you in a light of “I want to stay close to them, they know what to do”
Upgrade your staff
It’s no secret that many very talented folks are being shown the door at large corporations across the land. Some of those very talented, very experienced folks will turn to small businesses as a healthy alternative. An unprecedented pool of talent is available and eager to join the ranks of the small business.
Do you see how you can do this without hiring and taking on the overhead normally associated with this solution?
Cut your advertising expense
Generating and closing leads is a big part of the equation, but some firms will find they can also improve their bottom line by simply paying less for advertising. It’s a tough market right now for print and broadcast outlets and wholesale buys of 50-90% off boom-time rates for print, radio and television ads are commonplace.
Here is where learning how to dance in the arena of social networking can benefit you when you come at it from the proper perspective. There are free ways for you to build your presence, yes they take your time but you are not buying that time on someone else’s media to connect with your target audience.
Focus on what you do best
This is actually a survival mechanism, but I list it as a benefit in disguise. In order to stay on course during down times, small businesses must focus on their core competencies and products. This is no time to dabble in this week’s new strategy, it’s time to get better instead of getting broader.
Here is a key area that has the ability to help you shine like a “rockstar” or ride your horse back to the stables like a “dull knight”.
Start to build one or all of the above into your 2009 plans and you might get a glimpse of the power of potential opportunity right around the corner.
One of the components that has generated me valuable results is being able to communicate clearly how I am of benefit and show benefits of using my services. Breakingthrough your limiting bliefs has never been easier, more effective and very profitable. Are you going to use this time to leverage your talents and add more power to your business by “Showing up in a more empowered way”? What would it be worth to you to capture more income each month? If you were able to harnass your ability to be the best at what you do, how do you think that would affect your sales? If you were able to release and jump the hurdles that are presenting themselves in your business right now, how do you think that would affect your bottom line?