If you’re in  business or interested in starting a business, hopefully you’re keeping track of what’s going on in our financial and government sectors. Will a government bail-out help the economy? Hard to say, since not even the Treasury Secretary can make guarentees.

BUT, there is good news for women of this country, and that is that we tend to be much more conservative, compared to men, when it comes to where we put our money.

Read this link about why women may be the winners in today’s market: http://www.csmonitor.com/2008/0922/p15s01-wmgn.html.

Margie

I was just filing a communication with one of my clients and realized again: I LOVE what I do! All of my clients are my ideal clients. They are all taking responsibility for their progress AND progressing very well. They are all striving for their dreams of greater professional and personal success. And new clients continue to come to me, even in today’s economic climate.

When considering a business you want to create, OR how to grow your business, make sure you ask yourself: Do I love what I’m doing and am I working with my ideal clients? In today’s tough economical times, it is critical that the answers to these two questions are YES!

My business continues to grow. I said this in an earlier blog that not everyone is suffering from tough economical times. Sure, this IS the time to watch where you spend your money. That’s just good economical sense. This is even more critical with today’s news about Lehman Bros filing for bankruptcy, AIG restructuring and the sale of Merrill Lynch to B of A. Some economists call this the ‘perfect storm’…

But don’t let fear hold you back from either taking steps to grow your business OR steps to start the process of creating your business. As mentioned earlier, a great time to start a business can actually be during an economical down-turn! Imagine the possibilities when times improve!

We have two choices in life and business: We can put the thoughts of gloom and doom in our head. Because I believe in the power of the law of attraction, I believe that if we THINK of gloom and doom, we will attract gloom and doom. BUT, if we envision attracting more of our ideal clients (or buyers of my book!), we attract new clients and new buyers! It amazes me how powerful this is.

So, imagine your ideal client. Imagine your ideal day. And imagine what you want to create in your future. Then make it happen!

Margie

Today while at the market, the checker was talking about a raffle she took part in and that she won a new laptop computer. That was exciting, but then she said she’s never HAD a computer before! She was playing games on it right now…

This reminded me of when I used to take personal training clients, and they found me by either reading my articles or ads in the local paper or from my yellow pages ad. Of course, some did find me by the listings on the internet, but back then I didn’t have my own website; many of us didn’t back then, though. Even as time went on, though, I had many training clients who knew nothing about the internet and had no interest. If I had only marketed online, I would have missed a great deal of business!

So, where do YOUR potential clients hang out?

Today, most of my marketing is online, because that’s where most of my clients are, but I’d be limiting my potential a great deal if that was ALL I did!

So, where do YOUR potential clients hang out?

Whether you market to stay-at-home moms, or busy professional men or women, or kids, you need to be very clear where they spend their time, where they learn information, and where they turn when they’re looking for a service such as yours.

Some services and products appeal to a wide variety of people. However, if you are a small business, for the most success, you need to narrow your target market.

Again, where do your potential clients hang out?

If they read the local newspaper, then running a consistent ad in that paper may be a great strategy. I had researched which newspapers to advertise in when I was personal training. To run an ad in that paper for the services I offer now would be a waste of my time, however.

Some potential clients only spend time outside their work at business networking events. Therefore, in order to let them know you exist, you have to show up to these events! Running an ad in the paper, or having an incredible website won’t draw them to you.

Do your research and find out where potential clients hang out, then make your presence known. This will be the best use of your time and money and will help you achieve your business goals of success.

Margie

The labor department just released the latest news about our unemployment rate, announcing we are at a 5-year high of 6.1%. It’s really no surprise, and it may get worse before it gets better.

There are two times that people decide to start a business: When the economy is strong and they feel they can take their time to get their business up and running, before quitting their jobs, and when the economy is weak, and they either have just lost their jobs or fear it will happen any time.

Because service-oriented businesses can be started with very little capital, through bootstrapping, probably one of the BEST times to start a business is when the economy is weak! Imagine making a go of your business during today’s tough times… and then what is possible when the tide turns? And, it WILL turn; it always does.

In fact, back in 2001, the talk was big then on the failing economy, too. Headlines included such titles as these: “Fed Says Economy Remains Sluggish”, “Brokerages Stuck in Profit Slump”, “The Layoff List”, and I love this one: “US Industrial Utilization Falls to a 17-year Low”.

During that last economic slow-down, reporters for the online newsletter at Wharton School of Business at Penn State asked several professors their opinion about starting a business when the economy was weak. Their replies are exactly what I say above! With a good, unique offering, and the right type of business, and being able to start a business without a lot of capital, a business can be started in good or tough economic times.

In that series of interviews, the professors also discuss the changing of the face of economy; back then they mentioned it more along the lines of including more ‘m-commerce’, but it’s actually the beginning of what we now know as ‘globalization’. Thomas Friedman probably emphasizes this best in his compelling book, “The World is Flat”. I HIGHLY recommend this book for anyone either in business or considering starting a business.

So, what is good news about an increased unemployment rate? The good news is it could be the best time of your life to start that business you keep thinking about!

Margie