A man was selling oranges in the middle of a road. He was illiterate, so he never read newspapers. He put some signs along the road and spent the whole day praising the flavor of his wares.
Everyone bought from him and the man thrived. With the money he placed more signs on the road and began to sell more fruit. Business was growing fast when one day his son – who was educated and had studied in a big city – asked him:
“Father, don’t you know that the world is going through very hard times? The economy of the country is in an awful state!”
Worried by this, the man reduced the number of signs and began to sell fruit of inferior quality because it was cheaper. Sales slumped immediately.
“My son is right,” he thought. “Times are very hard.”
– Paulo Coelho
A fitting story reflective of our time. Growing up I was always taught to think for myself and not fall to OPO (other peoples opinion) syndrome. I think it’s fitting that entrepreneurs understand that there are opportunities out there. Eespecially at this time. The outlook for opportunities is a matter of perception, do not let anyone tell you how bad business is. Look for yourself and make your own decision.
Survival of the fittest. Darwin’s theory of evolution. Call it what you may, we’re about to see natural selection take place before our eyes in the business world.
We have already seen the effects of a down economy as more companies close their doors while others start laying off workers. This is where natural selection comes in and here’s why we’ll have more small businesses beating the odds.
So long Excess
As a lot of business close their doors, the market becomes so much more for those who remain. And those that remain to see trough the tough times come out that much stronger. In the good times many of the weaker businesses could hide their inadequacies in the abundance of the market. But no more. Consumers are now more discerning than ever and if you are not up to snuff you’ll have a hard time trying to impress them.
Tough times have called for a consumers as well as business owners to be thrifty, to save for times of need. To not put all their eggs in one basket. This is something that will remain after the tough times are gone.
As more people lose their jobs they turn to other forms of living. We will see more persons starting businesses and more persons discovering that they actually enjoy doing their own thing than working 9 to 5 for an employer.
All in all, when the economy begins to recover only the strong will remain.
If you want to keep growing while other businesses falter then find yourself a recession proof business.
Here’s a few ideas:
- Entertainment. People will want to get them self out of feeling down about the state of the economy, the global crises, that sort of stuff. Find a creative way of helping them with this and you’ve got a winner on your hands.
- Repossession. People aren’t able to pay their bills. Lenders what back their investment. It’s sad to be living off other people’s miseries, but somebody’s gotta do it.
- The Must Happens. People will always be dying: Open a morgue, wreath service, design the programme. Babies will always need diapers, children will always need education. You get the gist.
- Smaller luxuries. You may not be able to afford the all inclusive spa treatment but you wouldn’t mind getting a little home treatment: A new lipstick, self service facial sets, and out with the gym membership, in with the home gym and videos.