Time to Turn Lemons into Lemonade!
Dear Business-Builder,
So let me tell you a true story …
The year was 1976 and life was NOT good in America — and it wasn’t just because Disco was king and we suddenly found ourselves sporting silly-looking Leisure Suits.
America’s name was being dragged through the dirt world-wide. In the preceding 24 months, Richard Nixon had resigned in disgrace and Saigon had fallen to the Vietcong.
Our new president, Gerald Ford — the only man in history to serve both as vice president and president of the United States without winning a single election — was proving himself to be an affable dunce.
Our nation was still reeling from the effects of a vicious two-year recession. Unemployment was actually worse than it is today: Nearly 8% of our workforce was out of work.
As if to add insult to injury, inflation rates — our cost of living — had soared more than 17% in the preceding 24 months. Our money had lost nearly one-fifth of its buying power in just two years — and our president’s only solution was the idiotic proposal that we all wear lapel pins proclaiming “WIN” (“Whip Inflation Now”).
Then, just when most investors thought things couldn’t get worse … you guessed it: Things got worse.
Unsurprisingly, given the laundry list of woes just cited, millions of Americans were eager for “change.” So in November of 1976, they elected Jimmy Carter as the 39th president of the United States. And just to make sure the new president would have no problem getting his economic programs passed into law, they also preserved his party’s majority in both houses of Congress.
Now, you’d expect any fiscally conservative entrepreneur to be deeply worried … even depressed about the future at a time like that. But four men — Howard Ruff, Tom Phillips, Bob Kephart and Jim Blanchard — were not depressed.
Instead, they rolled up their sleeves and laid the groundwork for what would soon be massive personal fortunes.
Because instead of obsessing over our country’s massive economic problems or fixating on how the new administration’s policies would only make matters worse, these four pioneers saw a huge opportunity.
First, they recognized that, between Nixon’s corruption and Ford’s economic incompetence, millions of people had lost faith in Washington’s ability to do anything right.
They saw that millions of investors were even more alarmed over the new administration’s economic plans.
They believed that many investors had come to the conclusion that Washington couldn’t be trusted with the economy — and that the ONLY way to save their wealth would be to take matters into their own hands.
And they knew that those investors would gladly pay for leadership to help them protect and grow their wealth; to survive and prosper despite all the harm the government would surely inflict on the economy in the years ahead.
They were right on all counts. Within four years, inflation rates had tripled. The Prime Rate — the “preferred” interest rate that only the highest quality borrowers got — had hit 21%. The Dow had declined 20%. And the U.S. had sunk into yet another recession.
And in those years, Howard Ruff’s Ruff Times … Jim Blanchard’s Gold Newsletter … Bob Kephart’s Inflation Survival Letter … and Tom Phillips’ Pink Sheet on The Left grew to become Blanchard Coin & Bullion … KCI Communications … Phillips Publishing International … and well, The Ruff Times, which at its height, boasted 180,000 paid subscribers.
More to the point: Each of our four heroes amassed personal fortunes that ran into the tens of millions of dollars — and in some cases into the hundreds of millions.
The Moral of The Story:
In every crisis, there is opportunity.
The greater the crisis, the greater the opportunity.
It’s true that this is the greatest economic crisis this country has suffered in nearly eighty years. It’s also true that it will get worse no matter what our new president does. And it’s also true that some of the greatest opportunities that entrepreneurs, marketing execs and copywriters have seen in decades are hidden within this crisis.
Mark my words: Over the next few years, you will see companies that find and mine those opportunities positively explode in size and profitability. You will see vast new fortunes made by those who discover ways to help people survive and thrive.
But you can be sure that those new multi-millionaires are NOT wasting a moment obsessing about whether the Bush recession will become the Obama depression.
Instead, they’re thinking about products and services they can offer people who need leadership to get their companies, families and themselves through the challenging days ahead.
Not a bad way to spend a few hours this week … no?
I’m eager to hear how you’re planning to seize these opportunities — let me hear from you below — OK?
Yours for Bigger Winners, More Often,
Clayton Makepeace
Publisher & Editor
THE TOTAL PACKAGE
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25 Comments »
Join the Discussion!
Let us know what you think. Or ask us anything. Or offer your own sage advice.
The only rule: RESPECT THIS HOUSE! Postings that contain abusive language and/or personal attacks will be cheerfully VAPORIZED. One cross word and – POOF! – your well-thought-out post will be gone in a puff of smoke.
– Clayton
Comment by Larry Foster — November 10, 2008 @ 2:48 pm
Another great article. Thanks.
BTW, I’m stealing your headline. Just what I need for a letter going out this week.
Comment by john — November 10, 2008 @ 2:50 pm
You are RIGHT, things HAVE to get better. We got foreclosed last month but I managed to hang onto the copywriting course I had bought after we moved in with the in-laws. The goods news is that just today I got a local beauty shop to pay me $30 to write some ads and stuff for them. I probably didn’t spend more than 4-5 hours total on it. Not bad for a 52 year old out of work electrical engineer with no copywriting experience. And right out of the gate too. Never give up the dream people.
Comment by Susan Connors — November 10, 2008 @ 3:56 pm
Hi Clayton
This is a great post! Between the kids driving me crazier and me putting myself under huge stress, this post is music to my ears.
I knew I had to do something to change how things are in my business ventures. Yes, I know that there is always ways of improving performance. This is what I am doing:)
Will post back to this after drop off the rugrats to daycare.
for now
Sue in Aus
http://www.marketingforlife.com.au
Comment by Allen — November 10, 2008 @ 4:04 pm
Great Post. It’s needed at this time.
A big problem I have found myself in is twofold.
1. Seeing what is happening and what appears likely to happen my motivation to do anything is like a deer frozen in the headlights. I know I need to move but what to use to motivate.
2. Due to problem 1 above the general feelings are… yeah so I will work hard and smart and build something and the government will just come in and take it away… so I find myself aimlessly surfing, engaging in mindless chats, and getting absolutely nothing done.
At least I recognize the problem. Now I need a good hard swift kick in the ass to get me climbing the ladder and get out of the pit of worry, doubt, and fear.
How ’bout an article or two addressing how to do that?
Comment by Bernie Malonson — November 10, 2008 @ 4:33 pm
Clayton, you are right on all counts. To paraphrase Rudyard Kipling, "If you can keep your head about you, while others are losing theirs, you will finally be a grown up, my child."
Been out of work for 6 weeks, I catch a plane tomorrow to Del Ray Beach for AWAI Bootcamp and hope to meet Bob Bly, Carline Anglade Cole and other, and am immersing myself in classic copywriting books (Collier, Lasker, Ogilvy, et. al).
Got the website started this weekend and next week plan to join the local chamber of commerce (1400 leads…, errr…, members await) to start soliciting copywriting and marketing consulting business.
Just remember, luck favors the bold, and unless you take action, nothing is going to happen.
Comment by Kevin DaSilva — November 10, 2008 @ 5:10 pm
Hello Clayton & Makepeacer’s,
Here’s my 0.02…
For a while now I have been planning and preparing to launch my Membership site that will have "Look Over My Shoulder" videos to teach people how to make money online without all the training.
This is not some pitch because I ran into a serious dilemma. After spending over a 100 hours scripting, mapping out and making these videos and was only about a few weeks from launch, I find myself stalling now due to the "Economic Crisis" we all are facing.
I felt the same way as the person who commented earlier that said…
"so I will work hard and smart and build something and the government will just come in and take it away"
And here’s what got me back in to putting in 18 hours a day (not forced just love working)…
1. While I always wanted to Invest in the Stock Market I never got around to doing it but with "Stock Price" tanking this gives us a "Huge Opportunity" to invest at rock bottom prices and if you haven’t already lost money due to not having any stocks then this can be the time to get in…
2. With my business ventures, I will work as hard as I normally do and when I make money, instead of letting the goverment take my money away I will invest in a 401k, invest in Real Estate (foreclosure are all over and a huge opportunity) and other investments that will allow for "Tax Deductions"…
3. Hire a "Excellent Accountant" to tell me how to Maximize what I do with my profits and use the rest to buy great equipment, computers and grow my business which will be "Tax Write Offs"…
As I said I do Internet Marketing Consulting and am launching a Social Web 2.0 site for Internet Marketers with that training. And I will not let these hard times stop me from "Going After My Dreams" because if I do then its just me giving up and giving myself a reason (or excuse) to slack off, which is not for Your or Me…
We Are Entrepreneurs and we are so because we go after our dreams, DONT listen to everyone who says we are crazy for going after our dreams and will not stop at anything until we get there…
Let’s Go Be What We Are "Entrepreneurs" That Find Ways To Make Money And Prosper Through Any Situation or Obstacles Because We Can Not Forget That We Are A Community Of People That "Do Not Quit"…
I hope this helps,
Kevin DaSilva
Comment by Ed McQuate — November 10, 2008 @ 5:19 pm
Clayton, you bring back memories. I graduated in 79, and man they were some great days, but we were wondering what the hell are we going to do after high school. You did not even think about collage unless you were a wize kid or a jock (unless your parents where just friggen rich) so you could get a full ride at some school that would give you some paperwork saying You da man in what evere your doing.
Today I tell the kids, I seen this before, maybe not as bad in some areas of the economy, but much the same.
Man, If I only new then, what I Know now!
Comment by Marcelino Latorre — November 10, 2008 @ 5:50 pm
Thats the inspirational leader I have grown to love and respect. Go Clayton, you go boy!! It all boils down to finding that crucial niche and man there are so many to choose from.. Then actually hammering out a dynamite package that will keep the average investor in tune a system he can put in play. Thanks for the life changing voice man. ~>Marcelino
Comment by Glen Kohlenberg — November 10, 2008 @ 6:00 pm
Thanks Clayton and for us in the home improvement business we had to rethink the way were selling our products.
We have always been a high end company with an 100% service record. But our market changed so much in the sales arena that we had to back up and rethink our sales strategies.
We were losing a lot of jobs to price so we put together 3 different packages. 1.Industry Standard was the first with just bear bones no extra but with our standard margin. One year warranty.
2. Our Silver Package added stainless fasteners on the complete job and felt strip z bars on both screen doors. Higher margin with a 3 year warranty.
3. Our Gold Package added 10 year written warranty screen with level handles on all screen doors. Door threshold on both screen doors.Up graded door closures on both doors.Easy drains installed on all wall bases for hosing off the pool deck.Higher margin with a 7 year warranty.
So we found ourselves with down and dirty pricing that we could compete with our competitors with our industry standard price.
But where we killed them was offer the silver and gold upgrades because our competitors never did that.
Bingo our sales shot back up where they had been. Something so simple but so effective.
All we did was price package it and it worked big time. Plus we were listening to our outside sales team.
Now I need to give this credit to Clayton and Troy because I picked up bits and pieces from all the articles from the Total Package. Thanks Guys!
PS. Clayton now that the elections are over, how about a good marketing lesson on why Obama won. I have heard a lot of reasons why but not from the MARKETING MASTER himself. Look I know you are busy but you know there was some BIG TIME debate from you on this election and some had you tied to the stake. So come on give us some good ole wisdom!
Thanks
Glen
Comment by Susan Connors — November 10, 2008 @ 6:38 pm
Hello again - armed with a coffee - children
I believe in crisis does come opportunity. People are forced out of their comfort zones and complacency does not rule the roost anymore. Former doors are being opened as these people realize that hey we need to do something..but what? The "but what" is where I come in
Every business has something unique about it - UPS as its commonly known. However , the majority of businesses that I know have no defining element to separate them from their competitors. Yes there is service, price and guarantee ..and anyone can get those same things through looking at the local brochures.
I am a marketing consultant - I never saw my way that before. I would help people get started on new ideas, teach them about the internet, ebooks, forums, marketing etc and all for free. Then after I realized enough people were telling me I should be charging for this knowledge. I have become known as the resident expert on internet technologies in our area, and from this my business has developed.
I would do freelance assignments etc and paid for that, for my marketing knowledge I would give it away. Well the time for that has stopped. I mean yes, I will help a business and I need to keep the wolf off of my door and the ice out.
I now have products to see, sites nearly ready to go and am excited about the possibilities that lie ahead.
I am now creating a three tier system into my business where I can build websites at a set price. On another tier for a set for fee or hourly rate offer to update their websites. On the third tier come in as a marketing consultant and look at all their advertising/pr material and advise/suggest ideas according to the business needs.
So everything is taking time and I am enjoying doing this.
Between my four young children and other commitments, I am busier than a bee chasing a flower for honey
There is no perfect time to do anything there is only here and now.
Yesterday is gone and tomorrow may never come!
All the best
Sue in Aus
http://www.marketingforlife.com.au
Comment by John Anderson — November 10, 2008 @ 7:48 pm
Hey Clayton…….
I am in Australia where the economic climate is different to the states. We are like ‘will we go into a recession’ not ‘will we go into a depression’ like you guys and gals in the U.S.
What, I have found though as a free lance copywriter/marketing consultant and also business leaders membership program director is that if you are a marketer - you are the one that makes the cash register sing - then there will ALWAYS be business.
Especially if you apply direct response marketing knowledge to market your own business.
See smart business owners who have been around for a while who value and ‘get’ direct response style marketing……
A. Have money stockpiled. They are not ‘wiped out’ due to the stock market going down and they are consisently generating new cash flow from there business anyway
B. Know that marketing is the last thing ever to be cut……..
So the real task is to find, and then allign yourself with the right business owners and then get started on making them a hell of a lot of money through words that sell!
To a prosperous time for all of you,
John
Comment by Dale — November 10, 2008 @ 10:16 pm
Hi Clayton:
You hit the nail on the head again. At least you don’t get sore thumbs like the rest of us.
Yeah, like Allen, I could use a good super swift kick in the rear. I must get something going with more bills than money. I’m also crash prone, when things go wrong I plummet. Must be nice to be a person who can stay afloat when his ship is plunging 30,000 feet into the Mindanao Trench.
Perhaps you could write a poster we can print out and tack to the wall above our computers. Better yet, how about putting it on a wallpaper for our monitors?
Thanks a lot,
Dale
Comment by Susan Connors — November 11, 2008 @ 1:37 am
Hello again
Further thoughts
Yes - there are those markets where the client is used to using Direct Response Marketing - and there are those who have not given much thought to use it. Their advertising has consisted of word of mouth, maybe an advertisement in the yellow pages directory of the local newspaper occasionally.
I specialize in the Travel arena of tourism here in Australia. Yes, the businesses I work with are often small to medium firms, wanting to get ahead and having no concept of where to start.
They are often pray to gimmicks where a so called consultant will turn up with a glossy mag, say look here, so and so (your competition) is advertising with us - so why don’t you? It will increase your business. Or they take out these costly adds, to get little or no results.
Most of the time, these people are eager for new ideas. Particularly based on the internet, this is a medium many have not explored. Hence, I help find and help set up systems to help them grow and expand.
After all the R.O.I is important. (Return on Investment). When asked how they track the response of their advertising, many say using coupons and surveys from clients. Often offering a prize for people to send in feedback on their business.
I help problem solve and get solutions for my clients. After all everyone deserves the best service possible with attainable methods of tracking results for the R.O.I.
Sue in Aus
http://www.marketingforlife.com.au
Comment by Hayes Thompson — November 11, 2008 @ 7:16 am
I write for an RPO provider (that’s recruitment process outsourcing to you and me). The hope is that because RPO is a cost-effective way to recruit new staff, our company will weather the recession, as companies look to us to help save them money as they find talent. Of course, many firms will look at stopping hiring new people altogether, although research shows that companies that adopt this strategy will suffer when things pick up again.
Comment by Jeremy Reeves — November 11, 2008 @ 7:18 am
My thoughts exactly Clayton…
People need to stop worrying about what our GOVERNMENT is going to do about this crisis and start worrying about what THEY’RE going to do to get out of this mess.
I wrote something very similar to this blog, although a little bit more on the side of "philosophical" at http://controlbeatingcopy.com/how-will-the-economy-impact-your-business-however-you-let-it/ (sorry for the shameless plug but it’s relevant!)
Anyway, although everyone is pissed at our government…what can we do about it besides keep focusing on the future and how we can "turn lemons into lemonade?"
Absolutely nothing.
Keep trucking along people…times will eventually get better but for now try to start mining the fields of diamonds that are starting to pop up everywhere!
Jeremy Reeves
http://www.controlbeatingcopy.com
Comment by Harun Bahri — November 11, 2008 @ 9:33 am
Congratulations to you John (Comment #2)!
That is terrific.
Remember to follow up with them and get a testimonial so that you can use that to create massive momentum in your fledgling business.
Harun Bahri
Response Ink Copywriter
Comment by Otha Alexander — November 11, 2008 @ 12:05 pm
Koodo’s, to all of you guys. You are doing something that most people are not. Focusing on the "i can". By looking past all of the issues that our country is experiencing now and saying, "how can I make something out of this situation and make it better.
I personnally am involved in two of the fastest growing industrys today. Health products and natural healing. Instead of cutting back on my marketing efforts, I have actually increased them. The results have been great. I remember reading somewhere in a marketing book that I read that at times such as these, we should not stop marketing.
If money is an issue, then there maybe other less expensive ways to do it. I have been out doing it the old fashion way - - getting out and hitting the bricks, passing out flyer’s, this has definetly been bringing in the calls. So, just wanted to add my two cents and hope that it gives some encouragement to some one.
Comment by Peter — November 11, 2008 @ 2:00 pm
That was great Clayton. Keep up the good work.
Comment by Susan Connors — November 11, 2008 @ 4:14 pm
Hello there -
A question - why worry? - take action and work your plan. More chance of getting sick by worry - when action produces results and action produces better results
There is a story of a monster white whale called Moby Dick. In this old legend, he would sink ships and swallow people. Whalers could not capture him and the whale had everyone terrified to go out to sea.
Imagine a sole sailor in a rowboat, going out to sea looking for the whale:)
I have a quote relating to that tale:
"I’m so optimistic I’d go after Moby Dick in a row boat and take the tartar sauce with me! - Zig Ziglar"
The monster here is the financial crashes and hero in a rowboat - you. You can whether this storm and go forward.
Something to think about
Sue in Aus
http://www.marketingforlife.com.au
Comment by Dan — November 12, 2008 @ 9:48 am
Hey Clayton…
Awesome post for the growing entrepreneurs (like me) out there. Opportunities to thrive in this economic times… my ideas…
1. Health - people are always looking to stay healthy. Personally I have a online personal training website (cool membership site) that I’m relaunching. When your pissed off at the economy and you need to burn some steam… don’t take it out on your family… take it out in the gym. Also I believe while there will be some pull back, people will continue to dump money into the supplement industry.
2. Romance - I don’t have a foot in this door yet, but people who are alone are always looking to spend time with somebody. While this is a crowded market… there are always interesting ways to break in where you have no competition. I’ll share my way when I launch my dating book (hopefully before the end of the year).
3. Make Money - this is a classic. During today’s "tough" times and the fact that people are naturally optimistic… make money programs will skyrocket. Like the dating market you need to find a new way to approach the market though before you launch a huge campaign on the internet. There are ways to do it… just get creative and research some of the "old-school" ways.
Those are three markets that I think will continue to see strong grown no matter how bad the economy gets. I agree that now is the time to go crazy and make some massive money… because 80% of the people are going to be depressed in bed.
Comment by Jarvis Ryan — November 12, 2008 @ 10:40 pm
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Comment by Andy Iskandar — November 13, 2008 @ 6:50 am
Hi Clayton,
You know what, just 2 days ago I was having a discussion with a friend who is in the network marketing industry.
He was telling me that now apparently, there seem to be an increase in the number of people from the banking and and finance industry inquiring into his business opportunity.
I immediately sensed an opportunity in there. I am already thinking of how to tap into this ever-growing pool of disenchanted ex-traders and bankers.
Andy
Comment by Bill Henthorn — November 14, 2008 @ 2:20 am
ACRES OF LEMONS (or Diamonds, I don’t remember which):
I keep on remembering prior times when I didn’t seize the opportunities during the crisis …
* 1987 stock market crash, when I was an investor
* real estate collapse in the early 1990s, when I had my brokerage
Oddly enough, I have nicely profitable clients now, and more waiting months in line for their, quality partners, and more of my time is being spent planning for growth.
But if that’s not your case, why not take a look at your warm market and start creating a product right now for them? Meet their needs while everyone else is scrambling for cover. Since they’re your warm market, you can keep on tweaking the thing. It’s the old, Ready, Fire, Aim go-to-market strategy.
I’ve been financially independent for some time. It’s always been by using the old-school tricks of a little hustle, a little skullsweat, a little research, and lot of brass ball attitude to dare to do big stuff and ask for big compensation.
Comment by AZMike — November 15, 2008 @ 2:05 pm
You know what is very interesting about all the posts, except the ad-maven from Australia, is whether they are successful or looking for success they all are looking for a place to sub-ordinate their responsibility. "Sub-… what the heck is he talking about?" Suboridnate = give authority or permission for to others. We all are looking for a place to "pass the buck". Whetehr you are wondering what the heck to do? or The guy that is successful but is going to let an accountant determine where to place his profits. You all are looking for the place to plug in your umbilical cord.
I can’t say I am innocent of these, I too have always wanted to "pass the buck" to give the authority to someone else… I really believe it is "the human condition". So people, take advantage of this "human condition". Weightloss, financial control, health, business ideas, business plan, websites, sale letters, where to go for fun on Saturday night, these are all places people "sub-ordinate their authority" and there are millions of other places. Go make yourself some money in your own niche in just one of these… or more.
AZMike
P.S. Happy Thanksgiving to you and Clayton, too.
Comment by Markus Trauernicht — November 15, 2008 @ 2:47 pm
Wasn’t too sure if I should post this, but what the heck.
Just hat a meeting with a client in the financial newsletter field. So resistant to change, product launches, sublists and ideas inside their company. They have been making real good money. I would dread beeing a product manager in that company. Protecting turf, petty politics, etc.
May I ask Clayton - what is a really good conversion on a warm financial market list? Without a launch but top notch copy. I got in contact with probably the best copywriter in Germany with loads of controls under his belt and we suspect we are getting cheated bigtime.
Regards Markus from Berlin