Advice From E-Myth Author Michael Gerber On Money Making Opportunities For Businesses In A Recession…

Posted: August 30, 2008 in Uncategorized

After vacation and a minor operation on my leg, I’m finally back and ready to post what I promised you.

Bestselling author (E-Myth) Michael Gerber gave some great advice in Volume 1 of my e-manuals, “How Your Business Can Survive And Prosper In A Recession.”  It’s advice on what to look for when looking for money-making opportunities for your business.

Michael Gerber said,

“There are as many business opportunities today as there are frustrations in the world. Everywhere one looks there are business opportunities. The trick is to NOT think of “business opportunities” as time-dependent or technology-dependent or event-dependent, but consumer-dependent. For something to be a business—trust me in this—someone has to buy it. And for someone to want to buy it, whatever it is this business does or sells, it has to do it in a way that successfully differentiates it from every other business. And that’s the problem with most people who start businesses; they are unaware of the need, the absolutely positively extraordinary need, for the business they create to do something in a way that immediately creates an impact, a positive, palpable impact on some specific consumer in a way that is remembered. And can be described. And can be replicated time and time again by the consumer, by simply going back to that business to get another hit of it.

There is so much to say about this very simple idea that I can’t take the time to say here. But it comes down to one simple question every business opportunity needs to be asked: What is it that this business does, and how it does it, that is instantly memorable, that instantly leaves a profound unshakable impression on a specific consumer, and, why is that important? Just ask that question over and over again and you’ll discover many businesses that are NOT good and worthwhile opportunities; that are a complete waste of someone’s time and money, let alone someone’s investment.

Let me leave you with these question to think about when looking for new money-making opportunities during a recession….

  • What other product or service can your business do that’ll be instantly memorable and leave an unshakable impression on the current type of customers you already serve and have contact with?
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