Laughing at their Recession
A recession is possibly the best time to launch a new business or to expand an existing one. It’s also a great time to get ahead in your career. I know this sounds counter-intuitive, so let me explain.
First, the media goes nuts during a recession. They turn a little bit of negativity into a mountain of pessimism. This makes a lot of people financially paranoid. People become socially conditioned to expect the worst.
If you buy into this social hysteria, you become a victim too.
But if you tune out such stupidity (not watching TV helps a lot) and maintain a grip on rational thought, you’ll see some amazing opportunities popping up everywhere you look.
During such times people get scared and start cutting back on expenses. They cut some of the fluff from their lives. They stop buying so much stuff they don’t need.
This causes some businesses to do poorly, especially businesses that don’t provide stuff we really need. We can live without new credit cards and gas-guzzling SUVs for a while. Those non-essentials can be put off.
We also become more sensitive to receiving genuine value. When we spend money, we want to make sure we’re getting a fair deal.
Consequently, businesses that provide genuine value can actually do better during a recession. More people will flock to those businesses in tough times, while the fluff businesses will become more and more paranoid.
In Nigeria, there are a lot of fluff businesses. Many are based on the moocher mindset, trying to extract money without providing fair value in exchange. A lot of the dead or dying financial companies are like that. A lot of people have been learning that job security doesn’t mean much these days. More than 100,000 Nigerians learned this lesson this year when they lost their “safe and secure” jobs.
The Stupid Approach to Making Money
Lately I’ve seen a lot of people, some of them friends, do some really dumb things in an attempt to earn more money. They buy into lame money-making programs, join and promote useless ‘sharp-making money’ schemes, and fall prey to scammers.
The common pattern is always the same — they’re focused on trying to make more money. They make it their top priority. They think about it constantly. But they keep getting sucked into trying to make money without providing any real value, and it’s unsustainable.
In the end this sort of thing eventually self-destructs. The only way to succeed with it in the long run is to find lots of suckers and basically rip them off in order to enrich yourself. Most people have a strong enough moral resistance to this sort of thing that they’ll sabotage themselves from going too far with it. This isn’t a path of long-term abundance. It’s a path of scarcity.
As a general rule, the people I know who are most focused on trying to make more money this year are doing worse, not better. In some cases they’re doing much worse. A few have lost or are in the process of losing their homes.
The exceptions are those that are able to sufficiently kill their conscience, so they can remove any incongruencies about ripping people off. But again, this is a pretty rare exception. Most people would rather deal with scarcity than knowingly rip people off to get ahead, so they just make the bare minimum to meet their needs and avoid getting ahead.
There is a Smarter Approach, however.
Instead of focusing on trying to make more money, put your time and energy into CREATING and DELIVERING real value. Find a way to give people what they want and/or need.
Take note that the keywords here are CREATE and DELIVER.
Creating value means expressing your unique talents and skills in a way that can potentially benefit others.
Delivering value means ensuring that other people are actually receiving and benefiting from the value you’ve created.
If you don’t do both in some fashion, then it’s going to be hard for you to generate sustainable income, especially during a recession. I’ll explain why.
If you only create value but don’t deliver it, then your value isn’t being received by anyone. So how can you receive value (such as money) in return?
I see this problem a lot with creative types such as would-be artists, musicians, and. They may spend lots of time honing their craft, but if they don’t actually get that value into the hands of sufficient numbers of people, they struggle financially, and this hurts them creatively too.
The sad thing is that some of these people work very hard. But they spend too much time creating and not nearly enough time delivering. They watch people they consider hacks pull ahead of them. The hacks may not be as good on the creative side, but at least they’re getting their value into people’s hands, and on some level people are appreciating their work.
On the other hand, if you only deliver value but don’t create it, then you’re delivering someone else’s value. This isn’t a terrible approach in the short run, but it’s a short-sighted long-term strategy if this is all you do. There’s nothing particularly special about delivering other people’s value. Anyone can do it. Anyone can sign up for affiliate programs or join an MMM program or become a reseller. If this is your primary means of generating income, your long-term outlook is weak. The better this works for you, the more it will draw competitors into your field. Eventually everyone will be working harder and harder for scraps. This happens all the time. This strategy can be especially weak during a recession, as more people turn to less expensive sources for the same value you deliver, squeezing your profit margins thinner and thinner.
Bloggers fall into this trap when they rehash other people’s content and don’t really have anything unique or compelling to say. A year later their niche is flooded with competitors doing the same thing. And hardly anyone is earning decent income from it.
The most viable long-term strategy is to create AND deliver value. You can mix and match other strategies with it, but this should be your primary method of income generation. If you get good at creating and delivering value, you can basically write your own ticket and enjoy lots of abundance.
Create and Deliver…
Posted on November 14, 2016, in Uncategorized and tagged business, create, making money, recession, strategies, value. Bookmark the permalink. 11 Comments.
MMM is a deafing agent dat hs deafened millions of ears.They are all smiling to d bank.No stopping,no parking.A highway to financial collapse and heartbreak!WATCHOUT!!!
Its Christmas time.Alert!Alert!!Alert!!!Free money,no sweat.It is a sweet/bitter pill dat d greedy are forced to swallow.No creativity,but only delivery,delivery.
EZAR,u are right.A business where u rob Peter to pay Paul is not sustainable.Nothing from Satan and his agents is free.He gives and takes.U can describe him as give and take.Beware.
Recession has made Nigerians to believe a lie.Learn from d ant and work hard for ur money.Create nd deliver,d gospel from Ezar Chronicles. Tanx EZAR.
The needs around you will stir up d creativity dat has been dormant in you,and enable u to deliver value for true riches.Think outbox for need-generating income.May God help us
Laughing at recession d wrong way has repercussion,esp wen in league with scammers.What of d spiritual implications?A curse on scammmers will impart their disciples….perhaps a ‘leaking pocket’.Is ur contribution offered upon satanic altars to truncate destinies?Wise up my fellow Christians!Things are not as they appear!The apples of Sodom are deceptive.Bro Lot will tell us more.
Even in the time of recession, those dat know their God shall be strong and do exploits.Be a giver,for givers don’t lack.Likewise,don’t be a God-robber and come under His curse.Don’t be conformed to d world…get all u can,and can all u get.Rem,if u don’t work,u will not eat.These are spiritual truth dat will help us to remain above recession….and enjoy d milk and honey in d Land.
Cool kobo with sweat, is better than hot naira without sweat.Sweat out,and don’t spend d whole day on d phone waiting for the bank alert of scammers.Take heed.
@eden…d gospel according to EZAR chronicles is CREATE & DELIVER.I agree.I don’t want to discover so late in Heaven dat I could only use 5% of my human creativity.Heaven will ask me what happened to d untapped 95%.Pls let’s stir up our creativity….signed,sealed and delivered to impact our generation.
l love my beloved nation Nigeria and her people.We are talented and creative people.Perhaps d most intelligent after Israel.But most times,we channel our positive energy into doing d wrong things.No wonder d enemy wants to hijack Nigeria for his evil works.God forbid. Nigeria belongs to God. Through her,He will renew d faces of d nations of d world.For our ashes,we will radiate d beauty of d Lord wen d Lord rolls away d reproach of d heathen from us.Nigeria,my beloved nation,I hail thee.