We’re sitting on the GREATEST opportunity to create wealth since the GREAT DEPRESSION!
We once lived in a normal world. Things were pretty much predictable. You probably went through the same daily routine 5 days a week. Wake up, get the kids ready for school, get ready for work and so-on. On special occasions, you made plans for the weekend or whatever your off-day was…and life was pretty much a scripted scenario that you played out on a daily basis.
Things have dramatically changed, as you may well know…due to the unforseen covid-19 pandemic. Thousands of jobs have been lost…the markets are taking a beating…people are losing their homes because they can’t pay their rents or mortgages. Everywhere you look, people are having to where masks and gloves to protect themselves from this dreaded virus. And it’s not justs limited to the United States, the whole world is being affected by it. These are truly the toughest times that I can ever remember in my lifetime and it doesn’t seem that it’s going to get better anytime soon.
With all this chaos surrounding us, there is a silver-lining to this cloud. Surprisingly, this is an era that presents the GREATEST oportunity to create wealth since the GREAT DEPRESSION. How so?
Lets go back and take a look at one of the most devastating times in this countries history…
The Great Depression
When you think of the great depression of 1929, you think of the millions of people suffering financially back then. Visions of soup lines come to mind. Thoughts of people living in shacks…people jumping out of buildings and off bridges because they lost everything are pictured.
But the story that’s rarely told is that not everyone suffered because of the depression. As a matter of fact, according to statistics, more millionaires were made because of this financial crisis than at anytime in the history of America.
This happened because contrary to popular belief, a great time to start a business is during an economic downturn. Start-up cost are lower…savvy investors can position themselves for when the ecomomic climate improves. Remember, if a business takes a nose-dive as long as it dosen’t go out of business, the only direction it can go is up. Legendary investor Warren Buffett said it best, “Be greedy when everybody is fearful and be fearful when everybody is greedy”.
Back then, people who stashed away some cash bought bankrupt businesses at bargain-basement prices. There also was a huge opportunity in Real Estate because values were down and visionary business people knew they would go up in the future.
The point I’m making is some people created an enormous amount of wealth because of what the Great Depression did to the economy. This leads me to why I’m writing this post. Because of what this terrible virus-covid-19-we are standing on…
The Greatest Opportunity to Create Wealth since the Great Depression.
Just like the great depression of 1929, millions of people are struggling financially like never before since then. People have lost their jobs…they can’t pay their rent because of the jobs lost…and things don’t look to be getting better any time soon…as we’re still averaging 100 thousand new cases everyday.
Lets look at some frightening facts:
Portfolios of baby boomers lost 30-40% of their values…with no recovery in site.
There’s a supply-chain crisis.
Oil prices crisis.
Labor market crisis.
A demand crisis.
A developing commerce crisis.
And a potential housing crisis.
But just like the past economic crisis like The Great Depression, there have always been good opportunities because of an economic downturn…for instance…
The Hyatt was formed in the recession of 1958.
Fedex came during the 1970s oil cisis.
HP was founded in the recession of 37-38.
Microsoft in the recession of 81-82.
What will be the next great business to come during todays economic downturn and will you be apart of it?
The thing you need to understand is wealth dosen’t just disappear or vanishes, it transfers or changes hands so to speak. The other side of every loser is a winner. And that transfer of wealth is happening right at this moment as I write this post. While there are businesses tanking because of this pandemic, others will flourish. If you position yourself to take advantage of the opportunities that’ll come because of the latest economic downturn…you’ll flourish also.
Before I get into the best business model you should use to take advantage of the opportunities created, understand that we are seeing HUGE changes in how people and businesses are doing business. And the LARGER the change, the GREATER the opportunity. The changes I’m taking about is…
The Emerging “Digital” Trends that’s About to EXPLODE.
Today we’re entering an era where everythng and everyone is shifting towards digital and this is a trend that will continue even after this pandemic is over.
Because of covid-19, people are shopping and doing business online more than anyother time in the history of the internet. The fact that so many people have to be quarantined, you have a large number of trends that are growing substantially. Things like…
Online education or courses.
Self-help tips.
Online fitness.
Hobbies learned online just to name a few.
Some of the search terms that have grown in recent months are…
Garden obstacle course for kids + 4,400%
How to cut your own hair + 400%
Good sleep tips + 7,580%
Yeastless bread recipes + 4,400%
And if you can believe it…
Indoor beekeeping + 4,087%
Of course, some of these searches may die-out when everthing returns to normal, but some of them may become life-long trends. Personally I don’t think things will ever be back to the normal way we used to do things. But I do feel that the digital era is the future. I just think that covid-19 accelerated the process.
Change makes people uncomfortable. Because of that, most people won’t take advantage of the opportunities that are presented to them. But the fact that you’re reading this post and probably others like it, means you’re not one of them.
How to Get Started
The first thing you should do isresearch and find out what’s trending. When you do this, you don’t have to limit yourself to one avenue. For instance, if you want to become an affiliate marketer, don’t just limit yourself to just Clickbank or Amazon. There are a host of affiliate programs that offer products and services you can make money from. Progams like CJ Affiliates, Sharesales, and Affiliaxe just to name a few.
You also don’t want to limit yourself to one niche. There are many opportunies cropping up due to the backlash of covid-19 and you should ride the wave of these new opportunities. I’m not saying you should take advantage of somones misfortune due to this pandemic. What I’m saying is, you have to think of this in terms of being a business…and the decisions you’ll make will be business decisions. People are going to get rich because of these new opportunities, why shouldn’t you be one of them. There’s nothing morally wrong with that. Always be in a mindset of helping others and make money while you’re doing it. There’s one more thing you should do that will take your business through the roof. After your business begins to take off, do what made average companies turn into GIANTS in todays ecomonic climate.
Be Like the HUB Economy Firms
Hub economy firms are a small number of digital superpowers that control access to billions of mobile customers that were converted by all kinds of products and services. These digital superpowers-Alibaba, Amazon, Microsoft, Apple, Facebook, Baidue, and Alphabet/Google just to name a few-leveraged their LARGE network based strength to enter and win new nusinesses and markets.
For example…
Amazon founder Jeff Bezo left his job at the giant hedge fund D.E. Shaw and borrowed $250,000 from his parents to launch a new online bookstore which we all know as Amazon. From the very beginning he sought out to create a monopoly. His ultimate goal was to build a utility that would be essential to commerce not just an online bookstore or retailer. As you know, he succeeded in his goal. When you think of Amazon today, you don’t think of just books…you think of just about every product or service being sold on the internet.
You see, Jeff Bezo leveraged the massive network base he had (all the customers he gained through Amazon books)to succeed in his business objectives. But here’s the twist to his strategy. Jeff didn’t focus his explotation of the market on consumers…he focused it on the suppliers z9who were less visable to regulators). His fortune is roughly $190 Billion, making him one of if not the wealthest man in the world.
This is just one example of a HUB FIRM. It’s an example how you can take your business to new heights by following the same formula that these HUB FIRMS used.
Alibabais yet another example of a ompany leveraged vast number of users to large numbers of retailers.
When you get your business up and running and you’re succeeefullyearning $10-$20-$30 thousand a month, leverage your traffic to expand in new markets and businesses. You’l eventually have to hire people and delegate authority, but you’ll end up with an empire that will sustain you and your family for generations to come.
I end the post with the reminder to always protect yourself by wearing masks, using gloves and social distancing. We still have a long way to defeating this virus.
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