The losses in the 2nd quarter are worse than expected for Barnes & Noble. WalMart’s profits are down and projections for the remainder of the year have been reduced. The loses at J.C. Penny are double the projections. And the profits at Bob Evans Restaurants are off 40% due to the rising cost of pork, operations, and employees. Also, a whopping 82% of restaurants, restaurant chain owners, and franchisees list the impending Obamacare and minimum wage law issues as their biggest worries keeping them from expansion.
However, there is big money floating around out there. Twitter is preparing for an IPO. Elon Musk of Paypal, SolarCity, Tesla, and SpaceX fame is pitching investors on a gigantic pneumatic tube that will whoosh us from LA to SF in just 30 minutes; hardly enough time to use the vomit bag.
So, our job as merchants and marketers is to not focus on how poorly many are doing but focus on who is doing well and how are they doing it.
It isn’t easy, staying so focused; but we must. We must be reading and studying what is working now. Your mind has to be like a big sponge. And, we must be careful who we associate with and avoid negative and unproductive people.
Many suggest going on a news fast however you can’t just turn off the TV and isolate yourself as you will miss too many opportunities. What matters is not all the negative news and information but what you do with it.
Plus, it is always good to re-read classic success literature like Think and Grow Rich by Napoleon Hill and frequently remind ourselves how money is made in business.
Because growth is so poor in our economy, much of the economic activity is related to Mergers and Acquisitions (M&A). However, it is clear that most of the M&A, and private equity, investors are usually more clueless of how money is made than the original operators and even more clueless about marketing. Most of their activities all have to do with cutting the fat, squeezing out profits by reducing costs, or cutting a whole company into pieces and selling some and pumping in capital for those areas that are working.
They talk of replacing the founders and entrepreneurs of the company with professional management. This is what happened to the original Apple. Steve Jobs was forced out by the professional managers and the company was on its deathbed when investors had to go beg him to return and reinvigorate the business. Innovation and marketing had been mothballed during his absence. You can only go so far re-arranging the beans.
Businesses and brands without a human face, without a visible driving force, without a visionary and convincing salesperson, operate under an extreme handicap. Would you even know of Berkshire Hathaway if it were not for Warren The Promoter? Warren Buffet is a terrific salesman.
Mr. Gamble of Proctor & Gamble said, “Any fool can make soap however it takes a genius to sell it.”
It is very important during these somewhat trying times to remind ourselves of this timeless secret and that is that “Nothing Happens ‘Til Somebody Sells Something”; this is How Money Is Made in Business!
So … the best moneymaking secret I can provide is that if you bring better information and ideas that can be useful to the marketplace, you will spark optimism the minds of your customers, and clients, and you will be richly rewarded. Make a habit of this approach and you will soon find yourself surrounded by all the wealth generation you can handle.
As mentioned previously, moaning and groaning about the economy will not secure your financial future. If you want to generate income and create wealth in the New Internet Economy, you need to take charge of your future.
So … the best career tip I can provide is to create your own business for the 21st century. I spend my time helping others like me, corporate types and baby boomers retool their career, rebuild their life, and restore their financial success.
If you are like-minded, be sure and join me here as it is a way to get back in the game … Passionate Professionals… Rebuilding Careers.
In closing, be sure to Learn How to Get Self-Employed, at my HomeBizSocial website; Obtain Some Tips About Being No 1 on Google, at aspenIbiz My Go-To-Market Partners website; and Learn How to be Savvy with Your Money Like the Insiders, at aspenIbiz The Conspiracy For Your Money blog.
I hope you enjoy the posts and I trust you will find them insightful! Let me know what you think of them.
Happy Reading and Here's to Your Success!
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