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5 Reasons to Love a Down Economy

In the last down economy, I got laid off.

In this down economy my businesses are up over 20%.

What changed?

Now, I Think Like a LeaderYou can too…

5 Reasons I Love a Down Economy:

  1. I can hire great people
  2. Everything (yes, everything) is on Sale
  3. My competition fears a slow economy much more than they have ever feared me…
  4. Opportunity
  5. <What do you love about this economy?>
1. Hire Great People
Great people get laid off. And they are willing to work for a discount (see #2). I spent 2009 fully staffed for the first time ever. Were you hiding or hiring?
2. Everything is on Sale
It’s a bad time to be without cash. And if you have cash, then you can get lots of discounts (and you can negotiate from a position of strength). What are you doing to save cash in up times?
3. Competition
My competition is so scared of the economy that they put themselves out of business. Saves me the trouble. And it’s much cheaper (see #2). Do you see gloom or opportunity?
4. Opportunity
The people who thrived during the gold rush weren’t the individuals seeking their fortune in gold. It was the hardware stores selling the picks and shovels. What are you offering?
In a world where you suddenly have to work to turn prospects into customers, I’m offering the wildly popular Elevator Pitch Workshops ( ). Ask me about my e-newsletter discount (see #2).
5. <What inspires you?>
Add a comment below with the best thing about this economy for you and your business.The best entries will get free admission to an upcoming Leadership Lunch Webinar ( ).

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2 comments on “5 Reasons to Love a Down Economy

  1. A down economy forces people and businesses to go back to basics – focusing on customer demand and what they do best and how to do it better. I think there is a lot of opportunity once people pull their heads of their shells and take a look around. The landscape may look different, but it isn’t necessarily all bad. You CAN do more with less by leveraging the strengths and resources you have. My business partners and I have had to bootstrap it from the beginning because we started our business at what could be called the height of the “down economy”; I think it has made us stronger and better positioned to be successful. The ingenuity from those who are able to get past the panic and move forward to reach their goals inspires me on a daily basis. Thanks for your post!

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