If you were a visitor to this planet, you’d probably wonder why everyone was under such stress. Looking around, it’s not apparent that we’re in a recession – not at this writing. And I know you can choose not to participate in that, but I want to tell you what I think about the current situation with the U.S. economy.
Most Americans have lived beyond their means for the past two decades. I don’t claim to understand everything about it, but so much credit has been extended that now the strength of many companies is withering. Everything around us is so tightly woven into our earnings that complete companies can fail if too many of us can’t make our monthly payments.
And it really struck me the other day, while listening to Tom Alkazin on home based businesses, that it really is a tiny amount that brings down the house of cards. He said something like the extra $200 – $300 a month that a small business would give you, is just what is needed to stop bankruptcy.
The way that works is remember, if you have a bill for $250 each month, and can not pay it for a time – it snowballs. It doesn’t go away – so a little money from another stream would help.
Think of that on a nationwide scale and you have what is happening to thousands of companies. And thousands upon thousands are being sent home from work without a job.
The first wave you will see will be normal stores begin to offer better customer service. Competition will become fierce as companies place prices as low as they can and still remain in business. With the huge cuts, companies will have lower overhead. Still some will fail. And I believe those companies that play around with creative pricing will fail as well – because deep discounters will put them away. We all want a good deal.
So look for pricing wars, and customer service bonuses galore, right now, in the bigger retailers. For example, at cosmetic counters see special treatment, and businesses that sell similar products – take advantage of the pricing wars. Unfortunately, the only way you can do that is by subscribing to your local newspaper, and by watching the local newscast – both which are appaling to me.
The next wave will bring service closer to home. The days of doctors making house calls will return. Specialists in all sorts of areas will be knocking at your door offering special deals. You’ll have to be keen to know which is best. Try creating a neighborhood group, or even a small group of neighbors that come over to play cards and discuss these “deals.”
Home based businesses will spring up everywhere. The problem is knowing which one may be right for you. Here is my view.
Look for a company with a strong history. There are many new companys coming online. Stay away from them. There are enough old companies with workable businesses that you can get involved with. My view here is that the track record for brand new home based business companies is atrocious. You’re going to have to work to make money. Why not work for a company that is going to be around for a long time. Many people have been burned badly by companies that folded overnight – after having put years of hard work into them.
I’ve started a few home based businesses, and there are a few things that need to be right in order for you to succeed. One, is the company, as I mentioned. Another is the product. I am amazed at how many companies out there are set up for one time sales. Find a company that is producing something that is consumed on a daily basis.
And finally, find a company that has a low to zero start up cost, and doesn’t require you to buy stock. With the Internet, it is just too easy to order online and drop ship. This is efficient.
So watch for the markets to adjust, or correct; be aware of the many advantages of huge sales companies will have. And then start your own stream of income.