Well, it’s certainly the hot topic of the day. If you watched the debates last night, you saw two guys trying to keep people from jumping out of second story windows. It wasn’t a pretty sight. No, I’m not going to get into a debate about who the better candidate is or even if we have a good candidate (many feel we don’t) but I am going to ask you a question.
Is YOUR business recession proof? In other words, no matter how bad things get, will your business survive? I know mine will. But why? How do I know?
It all comes down to creating something on a solid foundation. Okay, what exactly IS that solid foundation? And trust me, it’s more than about web sites and advertising.
What I’m talking about is demand. The greater the demand for something, the less likely that it’s going to be hurt by a recession. But what’s in demand? What are the things that people can’t live without no matter how bad things get?
Well, you’ve got food, shelter, clothing and medical care. But I seriously doubt many IMers are into those niches. Okay, what’s on the next level of the demand scale?
Problems…real problems. And make no mistake about it, there are plenty of problems in this world. And what might seem like something minor to you might be the end of the world to another person.
For example, let’s say a kid is getting ready for his senior prom and the night before, he finds a zit right on the middle of his forehead. Think he’s not going to be in a panic? He doesn’t want his date to see him like that. Think he won’t pay just about anything for a cure that will work overnight? Of course he would. I’m not saying one exists, but if if did, that would certainly be a hot seller.
Point is, there are many problems in this world and if you can come up with a real solution to one of those problems and not just snake oil, you have a very good chance of developing a business that will survive during the very worst times.
It all comes down to product creation. In my signature, you’ll find a link to a great book on this subject. My friend Justin Michie and myself have perfected the art of product creation and everything you’d ever want to know about the subject is in that book.
So, is YOUR business recession proof?