How to Run Your Business When the Economy Sucks

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Here's what most will do:

  1. "Economy sucks!"
  2. "Let's not do anything!"

And then, eventually, they fail.

Here's what Warren Buffet and Google does:

  1. "Economy sucks."
  2. "While everyone else is resting on their laurels, we will take this time to kick some frickish ass."

Do What Nobody Else is Doing

When everyone and their mamas are buying real estate, what's the wiser decision?

  • Sell real estate.

When everyone and their mamas are selling real estate, what's the wiser decision?

  • Buy real estate.

If you run with the pack, doing what everybody else is doing, you gain no advantage over the market.

Result: You/your-company's earning power: The SUCK.

How to Get Rich

People get rich (see: Warren) when the economy sucks.

They slowly and gradually build up their investments until.....WHABAMABOSHAKAH....the economy picks itself back up.

  1. When the economy turns, it's too late for the laggards to catch up.
  2. Those who invested during the downturn will have built one ridiculous lead.

For instance:

Take MamaShubumba's Bakery.

The other bakeries are cutting costs, firing folks, and trying to hang on through the turmoial.

What does MamaShubumba do?

  1. She starts recruiting hidden gems who got laid off at bargain salaries.
  2. She buys liquidated products from other bakeries going out of business.
  3. With less demand, she hires bakery experts on the cheap to improve her offerings and decor.
  4. She freakishly invests in deliciously awesome new recipes, testing them with her prime customers.

MamaShubumba invests in her business during the downturn, while her competitors stall until they're more optimistic about the economy.

What happens when the economy = good?

  • MamaShubumba will have built one tremendous lead with new recipes, new decor, and an amazingly loyal/top-notch staff.
  • Meanwhile, the laggards will have to jumpstart its ailing business.

When the economy sucks:

Invest.

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Posted on September 30

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