The real secret of to making more money in a good economy or a bad economy is to:
Understand where the pain of your clients is – and fix it.
If you don’t have a business yet, start one that targets fixing problems for others. The more people you can help, the richer you will become. It’s that simple!
I see two big issues that people will need help with.
Increase Business Cash Flow
Business owners will need ways to stabilize their cash flow. Typically, needed cash flow has come through lines of credit. As the price of that money rises, or becomes completely unavailable, and with home equity lines tapped out, businesses are going to have to look elsewhere. Is there a business opportunity there? I’m sure there is: hard money lending or maybe as a business consultant showing businesses how to minimize the need for upfront costs.
Another inevitable fall out is that some people are going to lose their jobs. And considering that according to the National Association of Realtors, 60% of Americans held their wealth in their homes, or at least they USED to, before the value of the homes was so devalued. In fact, I recently heard the estimate that 1/3 of all homeowners were upside down in their houses right now.
People will feel a lot poorer and that means that consumer confidence is down.
It also means that people might be facing no job and no assets.
Increase Income & Investment Assets
So another big need that people will have is a way to replace or increase income and a way to build assets. And some of them, probably a lot of them, will decide they don’t want to spend their golden years working as a greeter at WalMart. They’re going to make the decision to start a business or invest, like my husband did. My husband went the real estate investing route. I think there is still money to be made there. In fact that’s the first of the 5+ Business Opportunities I’m going to talk about. But I’ve always made money with business faster, quicker and in a way that supports the reason I feel I was put on this earth. Plus I think right now, it’s a little safer to be in business…
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