… the tough get going.”
Good evening. I hope tonight finds you intensely comfortable.
As the economy continues to sputter along, it is important to think about positioning your business. If you’ve never been in business during an economic downturn, let alone a recession, I want to give you something very important to think about.
If you were around when Al Gore was inventing the internet, then you remember when the internet really came into its own in the early to mid 1990s. It was the beginning of the dot.com era; where venture capital flowed like mother’s milk. It was a golden time. A time before sub-primes. A time before government scams. A time before everything in the government sucked.
During that time, people were in a mad dash to get their claims on virtual real estate as fast as they could.
Why? Because they knew that the people who established themselves first had a good chance of snagging the most business fastest. Those late to the party would have barriers the early adopters could avoid.
Then we went from dot.com to dot.bom. Profits mattered again. There was a big shake out as many of the dot.com companies fell like autumn leaves during a gale force wind.
But those that survived became the equivalent of the early adopters for the next economic rebound!
That’s where we are now. In the shake-out phase. If you can produce quality for your visitors and, of course, for your customers, you’ll be there when people start making their way back to the web to buy, buy, buy! You’ll be the one who has been “doing business since 2002!” instead of being a fly-by-night who opened shop just a month ago. Who do you think customers are going to trust?
So don’t lose heart. Stay strong. Be a champion to yourself and others.
Provide extra value now so that you build loyal followers. That’s how you rebound when the economy does.
- Bal