Hurry! Don’t miss out. This is a chance of a lifetime!!
We are all familiar with that marketing ploy, aren’t we? And in many cases it is true. The product, service or opportunity offered does represent the chance of a lifetime if you get involved and take action. Now.
Diane Kennedy, CPA
But today, thanks to a worldwide economy that has turned South with no immediate turnaround in sight – perhaps it is time we turn our attention to what Diane Kennedy, the nation’s preeminent tax strategist and the author of The Wall Street Journal and Business Week bestsellers, Loopholes of the Rich and Real Estate Loopholes, and co-author of The Insider’s Guide To Real Estate Investing Loopholes, The Insider’s Guide to Making Money in Real Estate, The Insider’s Guide to Tax-Free Real Estate Investing and TaxLoopholes for eBay Sellers calls…
The Chance of a Downtime
I met Diane a little over a year ago when I was looking for a more proactive CPA to give me advice on tax planning and strategy because we were “raking it in” via affiliate marketing and network marketing and, quite frankly, didn’t really know what do to with all the money. (Yeah, I know. I know. If only I had your problem, Rob!)
So we met, did business, and have become fast friends along the way.
So without further ado, here is Diane’s take on making the most of today’s economy. You can read more of Diane’s incredible insights on her Business to Investment blog.
Some business is starting to pick up as we ease our way through the current recession. But a lot of business is still pretty flat.
When customers aren’t beating down your door, you have a couple of options. You can chase them down, re-invent your company, change prices, change services or just quit. I see people trying out all of those solutions. In fact, I’ve watched some seminar promoter types jump from one area of “expertise” to another, trying to find that one thing that people are going to buy. And as they jump from frying pan to frying pan, they get a little more scorched every time as they trade in what expertise they do have for more and more hype.
And I see others just waiting. They cut their businesses and lifestyle back to a sustainable level and with minimum work, they can maintain. Meanwhile, they are taking advantage of The Chance of a Downtime.
It’s not often that you get that breather in our modern world. I remember my grandmother (raised on a South Dakota farm) telling me how winter was when the family rested. There weren’t field to plant, cultivate or harvest. It was a time to just stay indoors, hang out with the family and stay warm. It was a time to get ready for the next season. It was the Chance of a Downtime.
In this economic breather, there are opportunities to learn new markets, meet new people, increase our personal capabilities, learn, meet, expand, grow and plan.
One friend just shut down his business a few weeks ago. He and his wife are now going full board into a network marketing company with an internet marketing twist. He is improving his capabilities at SEO (search engine optimization) and considering a new business to be an SEO resource. I don’t know for sure what he’ll end up with, but rather than try to keep a flailing business alive, they took advantage of the Chance of a Downtime.
If your business or investments have slowed down, what can you do with your own Chance of a Downtime?
By the way, the “friend and his wife” Diane mentions is yours truly and my better half Lisa. I am currently selling many of my affiliate marketing sites and retooling to focus more time and attention into building out our primary network marketing business. Why? Because it’s been my experience that during a downtime LOTS of people find themselves seriously looking for ways to make extra money – so promoting a business opportunity usually does fantastic during a down economy.
And as my grandpa used to say, “If you want to get hit by a train… stand in the middle of the train tracks.”
It’s all about positioning. If people are scrambling, waiting in line to find a way to make more money working part-time from home, YOU should be at the front of the line selling them tickets!
Plus, affiliate marketing commissions come and go. One minute you hit a gold mine, then next minute the vein of gold runs dry and you suddenly find yourself chasing another carrot at the end of another stick. Unfortunately, they keep moving the stick!
Not so much with a legitimate network marketing opportunity. Build it right and you benefit from immediate, significant cash flow AND you are building an ever-growing passive income stream that can last forever. Legacy money. An income you can pass to your children.
Think about it. How will YOU make the best of this “Chance of a Downtime”?
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