WHEN WILL THE EMERGING ECONOMY UNFOLD WITH A BANG?
WILL BUSINESSES RECOVER AND TAKE OFF
AFTER UNCERTAIN TIMES STABILIZE?
But ONLY if you’ve done things NOW to be ready!
I’ve told you many times to keep things
Simple, Solo and 1 Step At a Time.
Now, during a crisis, unsettled time or
whatever you choose to call it—
I have observed some very interesting trends emerge. Trends that are probably a product of the situation of panic, uncertainty, and an overdose of the media dumping bad vibes on top of a bad situation.
In the long run, this crisis period will weed out the GENERIC FLUFF. Only the strong businesses with an uncomplicated business model will emerge as a winner.
Many big and smaller online guru businesses are struggling and it will continue. And… their business model is eating them alive!
They are without that constant flow of new clients, customers, course takers, paid group members paying the big bucks the gurus have grown to depend on.
Their missing stream of income is those buyers who are searching for a business solution but are not in a position or mindset to put expensive expenditures on a credit card.
The gurus business model depends on a staff and outsourcing of work. All this costs money and the costs continue with or without sales.
See how this is unfolding?
The only way to know you’ll win in both this unsettled economy
and the emerging boom economy when it happens is….
drum roll, please! and the answer is…..
You must SHIFT your thinking and create a business model capable of PIVOTING on a dime, regardless of what comes next…
Work Solo, Work Simple, Work From Home, Work Smart
NEVER EVER TAKE IN A PARTNER.
The other side of the business model is to NOT rely on anything that is out of your CONTROL.
No Agency Ads, No Paid Sponsors, No Selling Other People’s Courses, No Selling Programs Like the Big Amazon Affiliate Program that pays referral commissions. Commissions are subject to change and that happens regularly.
DO recommend the tools, services, products you use and love, that you use to automate and run your Solo Business. Apply to be an affiliate for these companies to earn a commission when the people you recommend the product to buy through a link you give them.
The difference in these affiliate programs from those in item 1 is they are important to you and you want to see them succeed. If you can be compensated for recommendations, great! You would likely recommend them even if you weren’t compensated!
A lot of recent hype was about people referring buyers to Amazon or other “like Amazon” sites. People did well with these because they were touted as quick to set up and quick to make money. Many affiliates who joined the programs cut back on the attention they gave to their other streams of income, if they had them. Some people even sold or promoted sales of courses teaching how to make big money with Amazon until…….
another drum roll, please!
The BUBBLE popped!
The BIG announcement a few days ago told the world that Amazon cut commission rates to their referrers to almost nothing. Less than a week warning, just an announcement! POOF!
WHY This Is The Perfect Example of What to AVOID &
Why You SHOULD Work SOLO, the Solo Lady CEO Way!
NEVER, ever, ever rely on ANY income that you have
NO CONTROL over.
Tips for your business model as you start your Solo online business or shift your existing business to the Solo model:
Ads on your website or blog are a big NEGATIVE. They are ugly! Website visitors find them unfriendly and they cause people to quit scrolling your website or recipe post. You earn very little for giving away control of your site and income.
Selling online gurus’ products builds THEM as the expert, NOT you! Don’t waste your effort marketing someone else’s stuff for a tiny commission instead of marketing your expertise for 100%. Don’t know how to sell what you know? I can help you with that!
SUMMITS DON’T WORK! NEITHER DO BUNDLES! Who would sell $5,000 of valuable information for $75? Don’t get sucked into promoting them or attending them. (Read more on summits.) You make piddle income from your time and effort promoting 1 guru + 10 no-names. And, it puts your reputation on the line when you endorse those presenters. In my opinion, SUMMITS AND BUNDLES are just hype.
Summits and Bundles cannot be more than the GENERIC information you can find online that’s free. GENERIC isn’t worth paying for. It never has 1-on-1 support or expertise based on many years of experience.
Be very picky about who you recommend and why! It takes time to know, like and trust a person. Even a person who can afford big ads to sell to you. Someone may appear to be an online guru or promoter selling a huge resource but you can’t use it all at once, much less understand what to do with it!
This is why when you buy one of my courses you get ME. You get ME, my EXPERTISE from 20+years experience and I am present to help you sort out becoming a Solo Entrepreneur one-step-at a-time. You don’t work with a clone or admin assistant because I don’t use them – you get ME!
NO ONE CAN BE AN EXPERT AT EVERYTHING! No One. Many online sellers are only parroting what their guru has said. They don’t have extensive experience or expertise in the topic they are selling. They have been in business a few months or just a few years, usually in a great economy and they have not had to PIVOT their business on a dime when a personal, natural or business crisis raises its ugly head.
Believe me, these crises do happen!
I have had my share!
And the experience from these has taught me to keep my boots on the ground so I can PIVOT ON A DIME before the crisis eats me alive! That’s what built my expertise along with constant learning by observation and from a very FEW respected experts.
So, know that deciding to start an online business or kick-start a stagnant online business is a commitment of time, energy, priorities and maybe a small amount of money.
There are no shortcuts to a rock-solid, stable business foundation.
But, it is simple – no chaos, complication or stress.
IF you do it SOLO SMART, the Solo Lady CEO way.
Don’t waste your resources and effort!
DO IT RIGHT & YOU DO IT ONCE!
Now, I want to share some business tips
if you have an existing business.
1. Diversify your income.
2.Reduce your vulnerability to economic shifts affecting the economy.
3.Take back control of your business.
I can show you how to do this regardless of your business.
It’s done within the Self-Discovery Bullet Journal I created as the CORE of ANY business. It’s your most-valuable asset now and for many years to come.
We’ll identify your ONLY, what ONLY you OWN that is sellable as your signature product. We’ll identify what you know. It may be something so mainstream to you that you don’t realize how important it is to the people who are searching for what you know or have experienced, your expertise.
Here’s how it worked for my Dad.
After leaving North Dakota barely older than a kid with some restaurant cooking under his belt, he worked as a cook and then a chef at some of Chicago’s best hotels of the time. He later moved to Colorado, worked at the Congress Hotel in Pueblo and went on to open his own tiny restaurant, The Orange Palace. As business grew, he moved to a much larger space and renamed the restaurant after himself, Maurice’s Restaurant.
His restaurant flourished for many years. As he aged, he scaled down the size of his restaurant and eventually added a small corner where he could enjoy his hobby of coin collecting and visit with friends. This evolved into adding a small jewelry case and a stool or two as he acquired other collectors as customers for his now “coin collecting” business.
With age slowing him down, my Dad made his final change. He sold the restaurant and rented a tiny space next door for his coin shop which he enjoyed for the rest of his working years.
Now, the point I am making is that you never know just where a hobby, interest or experience can lead you. And, this is good!
Here are some tips for those of you who have an existing online or a not online business….
All businesses need an online presence as the current crisis has proven. BUT, not all businesses do their thing online. For some, their website is informational, a validation of a business’ capabilities and credibility, involvement in the local community.
It’s time to make the decision to diversify your income to get into a better position BEFORE something else drops a crisis on you whether personal, business or natural disaster – and it WILL happen! Ask me!
Several times something has suddenly gone POOF in my life never to be the same.
Remember, when diversifying income,
the new stream of income is NOT an extension of your existing business.
It’s based on what you know. It’s your safety net, retirement income, or what will sustain you when everything feels like it’s falling apart, maybe a medical emergency or becoming suddenly single for whatever reason.
It’s marketing what you know and how to turn what you know into a sellable product that people are searching for. These are just a few top-of-mind ideas…
An independent layer on top of your existing business but run as a separate business (more on that later in another article.)
A business totally independent of anything you are now doing or selling. (Like my Dad)
A new side-hustle to use as a safety-net for seasonal swings in other income streams OR it could grow into your stable main-stream of income.
CRITICAL! Keep this additional stream of income as a totally SEPARATE business, brand-wise and legally. It’s far easier to keep businesses separate and unique from the start! This avoids complicated legal maneuvers if you decide to sell one down the road.
Again, NEVER, EVER, EVER TAKE IN PARTNERS!
Work Solo, Work Smart!
Now, what’s next for you? Are you thinking it might be time to get started on a side-hustle or work-from-home business? If so, it’s time to check out my 12-Week Solo Lady CEO Quick-Start for Solo Entrepreneurs to Start a Business.
This is the ONLY COURSE that gives you
REAL 1-on-1 attention and support.
I would love for you to leave a comment
about what you’ve read or just a quick hi!
Here’s my email link…
Let’s stay connected!
#SoloEntrepreneur #CrisisBusinessPivots #QuickStartABusiness #SideHustle #SafetyNetIncome
© Maureen Beaucond 2020