How to Survive Excessive Recession Hand Wringing
Archives: Daily Issues
Issue #2440
- WEALTHY: Turn yourself into an Alpha Warrior (John Carlton)
- HEALTHY: Pesticides in your Pinot? (Kelley Herring)
- WISE: Paul A. Samuelson on predictions coming out of Wall Street
ALSO IN THIS ISSUE:
- An easy way to get your customers to click the order button right now (Suzanne Richardson)
- Designing for the 50+ crowd (Bob Bly)
- It’s Good to Know… why you don’t need nitrogen in your tires
- Add "cacophony" to your vocabulary
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"Wall Street indices predicted nine out of the last five recessions!"
How to Survive Excessive Recession Hand Wringing
By John Carlton
Has the looming recession got you scared yet?
The mainstream media sure hopes so. Sells more newspapers, boosts cable ratings on CNN and Fox and MSNBC, makes the populace hyper-aware (like jittery squirrels gathering nuts in a dog park), and gives advertisers a tidy little narrative to help position their products.
An audience with frayed nerves is an audience paying attention. They like that.
Entrepreneurs and small-biz owners can be especially vulnerable to economic downturns. Or even talk of an economic downturn. Frequent news stories about financial doom tend to bring on the "Yikes, we’re all gonna die!" response. Even in people who should know better.
My pal Perry Marshall reminded me of the "should know better" part the other day, when he sent out a blog-alert e-mail titled "My rant about this so-called recession." Basically, he noticed that his readers seemed to self-select themselves into two distinct categories: (1) the whiny 95 percent, who seem to almost welcome economic disaster (as definitive relief from the anxiety of waiting for the hammer, so they can blame any pending failure on "outside circumstances")… and (2) the "Alpha Warriors," who barely acknowledge anything the mainstream media says about the economy.
Perry thought the Alpha Warrior segment of his readers hovered around 5 percent. When I called him (to congratulate him on an insightful post), we agreed that it’s probably closer to 1 percent in the general population. In other words, in a room of 100 people, the folks ready to latch onto recession fears as an excuse to crawl into a fetal position and suck their thumbs would dominate the discussion, the physical space, and the mindset.
There would be one lone dude, in the corner, ignoring them and getting on with business.
This is an important observation. The narrative of your world-view can deeply affect how you act.
I hear from entrepreneurs all the time who were shocked, saddened, and even discouraged by the cacophony of negative voices around them when they decided to try their hand at marketing. If the opinions of your family, friends, co-workers, and even future colleagues matters to you… just skip starting your own biz. Cuz you will rarely hear an encouraging word. Most folks don’t like change, and resent the turbulence you cause by ignoring obstacles and overcoming problems to go after a goal.
Consider how many people around you base their world-view on the idea that "You can’t fight City Hall" or "The Man controls everything" or "The little guy doesn’t stand a chance." No dream of independence or getting rich can survive that kind of negativity. If they HAD a dream, it’s gone now. And you’re kind of throwing that sad fact back in their faces by going after your dream.
Not everyone is like that. But do not be shocked when you hear about even close friends secretly rooting for your collapse or taking delight in the struggles you encounter. If you fail, they are proven right. (You never really stood a chance. What a fool you were for even trying.) Worse, if you succeed, you very likely will drift away from the slacker world they are so comfy residing in. You’ll force them to come up with new excuses for their own lack of movement.
And that’s a horrible thing to do to friends. You naughty person, you.
The media loves a recession, because it means no slow news days for a while. Every utterance from the Fed is a headline, weekly columns write themselves (just pick two recession cliches from your cliche file and rub ‘em together), and "man in the street" interviews will always yield some nice emotional sound bites.
Great marketers see a recession as something else: An economic burp that may or may not affect them. If it does, you adjust accordingly. If it doesn’t, then it’s full speed ahead. No hand wringing allowed.
As Perry pointed out, it’s now a global market, dude. The dollar’s fade is the euro’s goose (and, if you’re exporting, the best news you could ever hear). Maslow’s hierarchy of human needs doesn’t vanish just because the gross domestic product does a pratfall.
People still need to eat, still need a roof over their heads, still demand luxury. And still need advice. Maybe more than ever. Many will need new jobs. A recession isn’t fun, by any means, and neither is it a joke. However, neither is it an excuse to fold up shop and go hide.
I happen to know the number one real estate broker here in Reno. The market went from being one of the top five hottest housing booms just a year or so ago… to becoming one of the worst in the nation. Prices, values, and capital are plummeting. Yet, people still need houses. They move away. Or move here from somewhere else. Or move up or down, as the nest requires more or less space.
Sure, the easy days of the boom are gone. Have a good cry, wipe your nose, and get back to the job at hand. Adjust your strategy to meet the challenge.
This guy was the top realtor during the boom, and he’s the top realtor now that the market has lapsed into a fever. He just adjusted. It’s the same with every other market I have hooks in. The smart guys note the nuances of how things have changed, and redirect their energies to what works NOW. The not-so-smart guys shriek and lose sleep and curse cruel Fate. And pine for the good old days, when their limited bag of tricks was effective.
Take it from someone who’s weathered multiple recessions, the collapse of entire financial institutions (I was a rookie copywriter writing financial direct-mail packages when the S&L crisis lopped an entire arm from the banking community), and the meltdown of more hot markets than I can count (from Pet Rocks to McMansions).
Ignore the doomsayers. Focus on the fundamentals – good products, good value in your offer, good traffic generation, and the dedicated nurturing of your house list. If it feels right to downsize (either in your life, by living debt-free, or in your biz, by trimming the fat), do so. If your old way of doing things isn’t producing the results you need, try something else. Test more diligently. Study your market for pain that needs attention, and attend to it.
I like that term of Perry’s, "Alpha Warriors." But in my mind, you’re really just the Adult In The Room when you continue to take care of biz when everyone else is freaking out.
You may be the only adult in the room, too… and you may be trashed for your refusal to panic. But when you know a fresh game is afoot, you gather your resources and engage anyway. To succeed as an entrepreneur, you gotta be your own best friend.
[Ed. Note: Recession? What do YOU think? Are you doing anything differently because we may (or may not) be in one? Are you losing sleep over it? If you've got any advice - either from experience or from a mentor or advisor - for living through rollercoaster Dow rides and market busts, let's hear it right here.
John Carlton is an expert copywriter, a pioneer in online marketing, and a teacher of killer sales copy - and he knows marketing inside and out. Discover how to get your hands on the kick-ass secrets of the world's smartest, happiest, and wealthiest marketers.
And be sure to read John's insights, tactics, and advice on copywriting and marketing at his blog.]
Is $87,000 a Year Worth $99 to You?
I’d like your opinion on something… if I can get you into a new business (even letting you work another job until this new business is making enough money for you to quit your old one)… have an income potential of $60,000, $80,000, even $100,000 or more… and this business could be started for less than $99… would you think it was worth its weight in gold?
I understand you may be skeptical. All I can tell you is this is very real and very doable. I have 20 different businesses for you to choose from – and I know there’s one that would be a perfect fit for you.
There is also a limit on the number of people I am sharing this with, so if you let your skepticism get the best of you, you will be locked-out and someone else will take your place. I’m sorry, but that’s life. Why not take this opportunity to finally be free from money worries and live life on your own terms?
Fast-Response Bonus
One of the most effective weapons in your marketing arsenal is urgency. Urgency makes your prospective customer feel that he has to take action and respond to your offer immediately. Your job is to give him a good reason to do it.
Why is this so important? Some people read a sales letter and set it aside. "I’ll come back to this later," they think. This happens even if they are truly interested in the product you’re selling. But what usually happens is that they forget about the sales letter… and never order. They miss out on a product that could help them make money or get healthier or become a better writer. And you miss out on a sale.
Some products have built-in urgency. Let’s say you’re selling a conference. The conference takes place on August 23rd, so, naturally, people know that they have to sign up before that date. Or perhaps you’re selling a special Q&A session with one of your experts, but the expert has put a cap of 50 on the number of people who can attend. Interested folks know that they need to sign up right away, or they won’t get in.
If there’s no urgency inherent in the product, you can create your own with what Jessica Kurrle, ETR’s Marketing Manager, calls the "Fast-Response Bonus."
Here’s how it works…
Think about your potential prospects’ secondary core desires and what could fulfill them. Make a list of five of these and identify the best one. That’s a great topic for your bonus – something your prospects REALLY want. Now, you can quickly create an excellent special report on that topic, or maybe even repurpose material you already have that addresses this need.
That becomes your Fast-Response Bonus.
And this is how you use it to create urgency – and get your prospects to click the order button immediately: "Limited offer today only. The first 50 people who order will get a free copy of…"
[Ed. Note: The more you know about simple but effective direct-marketing principles, the more sales you'll make. Learn how you can get your hands on dozens more techniques from two direct-marketing masters right here.]
How to Design Written Materials for Older Folks Like Me
By Bob Bly
Vision impairments increase with age – something to keep in mind when putting together any written materials aimed at the over-50 crowd. Time spent modifying your layout for them will more than pay for itself in increased audience response.
Here are four suggestions:
- Maximize contrast between the typography and the background. Reason: More contrast makes it easier to distinguish an image. This is especially true of the contrast in color between text and paper.
- As for type size, yes, older readers prefer large type. But type style matters too. Avoid ornate typefaces and the overuse of italics. Choose a serif type.
- A bit more spacing between lines enhances readability. Avoid the extensive use of ALL CAPS and type reversing out of a solid background or screen.
- Indenting paragraphs improves readability. Same with smaller blocks of copy and shorter lines of type.
(Source: Writing That Works)
[Ed. Note: Sometimes, attracting your ideal customer is as simple as making a few changes in the design of your promotion. Sometimes, it's as simple as mastering a few classic techniques. Learn how to get any customer, every time, right here.
And be sure to download your FREE copy of author and copywriting master Bob Bly's Marketing to GOM: 10 Tips for Selling to the Age 50+ Male Market right here.]
The Hidden Poison in Your Wineglass
You’ve heard quite a bit about the health benefits of red wine. Not long ago, Dr. Sears told you about its anti-aging benefits, and I wrote about its ability to protect against two health-harming byproducts of fat digestion.
But if you’re a wine drinker, there’s something you should know: You may be exposing yourself to high levels of fluoride. This dangerous chemical has negative effects on the brain, thyroid, pineal gland, kidneys, and reproductive organs.
So how does fluoride get into wine? Via cryolite – a fluoridated pesticide predominantly used on California grapes.
Researchers from California State University conducted a five-year study of vineyards throughout the San Joaquin Valley. They found fluoride levels between 3 and 6 ppm (parts per million) in Zinfandel, Chardonnay, Cabernet Sauvignon, Chenin Blanc, Thompson seedless, Barbera, Muscat Candi, and Ruby Cabernet grapes. Fluoride levels were between 6 and 9 ppm in French Colombard and Zinfandel grapes.
At 6 ppm, one glass of wine (175 ml) would deliver as much fluoride as about a liter of "optimally fluoridated" water!
The solution? Choose organic wine grown without pesticides to reduce your exposure to fluoride and other compounds that promote disease.
[Ed. Note: Organic red wine is just one "forbidden" luxury that you can enjoy without feeling guilty. Now you can eat delicious chocolate cake, too, without worrying about it. Nutrition expert Kelley Herring has created a cake mix that's absolutely sinful - but is actually good for you! Learn more about this guilt-free dessert right here.
And be sure to sign up for ETR's natural health newsletter. You'll discover tons of healthy recipes and the latest breakthroughs in nutrition and fitness.]
It’s Good to Know: Why You Don’t Need Nitrogen in Your Tires
The next time you take your car in for a checkup, don’t be surprised if your mechanic recommends putting nitrogen in your tires. He may claim that it will improve your fuel economy and extend the life of the tires – but don’t spend the extra money.
Here at ETR, we’re not automotive experts, but we are skeptics – and at least one anecdote we read suggests the difference is minimal, if there is one at all. So view that upsell with a cautious eye. And remember… plain old air is mainly composed of nitrogen to begin with.
(Source: The New York Times)
How the Global Economy + the Internet = a Richer YOU
When “they” said the global economy changed things, they weren’t kidding. It’s easier than ever to make money – potentially A LOT of money – in this new online business that harnesses the full power of the Internet.
Right now, for a small investment (as little as $50), you can purchase in-demand products for pennies on the dollar. Next step? Sell to eager consumers for as much as 1,000% – 4,000% higher, which is exactly what the consumers are already accustomed to paying!
And surprisingly, it couldn’t be any easier to get started making money in this niche. Even better, you can be up and running – and earning cash! – less than 24 hours after receiving this new program.
A "cacophony" (kuh-KOF-uh-nee) – from the Greek for "harsh sounding" – is a loud, jarring, discordant noise.
Example (as used by John Carlton today): "I hear from entrepreneurs all the time who were shocked, saddened, and even discouraged by the cacophony of negative voices around them when they decided to try their hand at marketing."
[Ed. Note: Become a more persuasive writer and speaker ... build your self-confidence and intellect ... increase your attractiveness to others ... just by spending 10 VERY enjoyable minutes a day with ETR's new Words to the Wise CD Library.]
Copyright ETR, LLC, 2008
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Tags: excessive hand wringing
In recent years, the amplitude of our economic activity curves (up and down) has been greater because of one thing – the media amplifing perceptions, that, for the most part they created in the first place. This year, they started with a good economy weathering a short term mortgage problem of huge proportions for a few on each side of it, and are trying to turn it into something bigger. It will not take. The economy will be growing again by second quarter. The stock market much sooner.
Because of my spouse’s new employment, I had to resign my 12 year job and move to a new locale. For me – no job, no “safety net.” We moved to where there’s a “whopping” 7% unemployment rate (redefine – 93% employment rate!). So what to do? Put in my papers to pt substitute teach. Found another pt job doing community service. AND now working on copywriting course and beginning a new career. I don’t know really how to go about it, but… I’ll seek out the help, figure it out, and move on. Recession? Perhaps. Money tight at home right now? Sure. But the only way to get anything done is to get things done!
John-You are dead on. It may be harder during a downturn but it is possible to succeed at business. I find that it is actually good if you keep your focus and play things smart. Many of your weaker competitors fall out. The one’s that survive pull back and give you more room to maneuver.
I recently wrote an article Recessionproof Your Sales that gives 7 keys to surviving (or excelling) in a recession. If you depend on a job for your income my article 11 Steps to the Job of Your Dreams gives my surefire way to find a great job. It’s advice is equally effective whether you are out of work or looking to find something better!
As a mortgage broker in New Jeresy, all I can say is in Business if you are not selling , you are dying. Prospecting and sales better be a big part of your day, or you will perish. The days of the phone ringing non-stop are over…get out and sell!
The best way to deal with it is just keep doing what you are doing. Ignore the news. Ignore the politicians. All they want to do is scare you for their own purposes.
And especially now days be super careful of who you are dealing with, a lot of slime has come out. As President Reagan said, “Trust but Verify.”
I am on the verge of starting an online consignment sale business, simply because there does not seem to be one active in my greater community — eight cities, and a population ranging from 250,000 to over a million, depending on the season. My start-up funds will come from personal savings and credit, and initially should be less than $10,000. Of course if someone wanted to help with the funding, I would not object.
Well stated. I liked your view of adjusting your strategy but also staying focused on the fundalmentals. Our company imports and distributes edible, medicinal and aromatic oils used a variety of healthcare products. We also distribute the Natural Remedies Encyclopedia. Nature’s Laws are as valid now as they were thousands of years ago. The best folk remedies of earlier generations are now being validated by modern medical and nutritional facts.