The more I look into the economy and what’s going on in the world of business, the more I wonder to myself where all of the problems will end. And the worrying thing is that the top economists are predicting that it’s not going to get better any time soon.
In fact it’s forecasted that hundreds of millions of people will lose their jobs. Employers will squeeze the “lucky ones” who still have their jobs to work harder and without inflation matching pay increases (effectively making them poorer year on year). Robots will be increasingly used to cut costs (we already see self serve checkouts and petrol stations). And people will continue to buy from big supermarket chains and online stores who can see huge growth in business with little increased costs.
I’m sure that everyone can identify with these points. We’re all buying online. We’ve all see self service in stores. And I’m sure that we all know someone who has survived the axeman at work and subsequently ended up covering the work of the people who got the chop, but feeling lucky to be doing so, and even work harder than before to try and survive the next round…. Because the next round always comes.
Due to this fact, there are a quite a few different areas where the economy effects us, but by owning small businesses you can both counteract it, and also create a culture by which small business communities can really help to build the economy back up. This is a bit of a big subject, so I have decided to outline the topic today, then discuss it in a series of blogs, which I will release over the course of the next week or so.
Now the fact that the economy is in a bad state doesn’t necessarily have to mean that everybody has no money, because the vast majority of people are still securely employed and there are still plenty of people spending. The problem is that we are all spending our money with big international companies who employ very few workers compared to the number of customers that they service. And the profits that they make are quickly filtered into the banks of the rich guys, with very little of it every to be seen again by the middle classes.
Millionaires even admit that even with eating out, buying cars, going on holidays, and buying houses etc. There’s only so many things that any person can buy before they begin to run out of things to spend their money on. So what do they do. Keep it in the bank. Or invest in more companies who service millions of customers with only handfuls of staff.
Now imagine the ten time and hundred time millionaires that own or invest in the big companies that we buy from. That’s where the majority of the world money lives. They’re just amassing wealth, and this middles classes money they are ultimately banking.
This is not a conspiracy theory. It’s the facts of capitalism. I’m not saying that it’s right or wrong (in this post anyway). The rich guys just know how to play the game better than we do. And if we want to have a chance of generating wealth and financial freedom, we have to learn to play the game too.
And so, I come to the beauty of a lot of the home based business models that I support. The great thing is that you can have the best of both worlds. It is possible to get the high quality, reasonably priced goods that are offered by big brands, in the hands of consumers; whilst also earning yourself a profit based on your efforts.
It is possible that by selling or marketing these products, that you can build yourself a customer base, without having the massive outlay in money and preparation time that is required by starting a traditional bricks and mortar business.
You can also be in the situation that because many home based business models allow you to operate over the internet. Once you find customers, they stay your customers for life. And their repeat purchases over time provide you a residual income without any real involvement past the initial sales/marketing process. Just imagine if you got a little commission every time one of your mates bought from Amazon or Ebay!!!
The added beauty of this model is that if you choose to work with companies who offer high ticket (high cost) items, then the commissions are obviously far higher for every sale. And yes, these can still work as regular purchases, not just nice one offs!
It is also possible to build and scale a business that will allow you to have a team of people working with you (not for you), and you benefiting from their work, without you having the risk, responsibility, and general headache of having traditional staff. I could expand quite a way on the downside of having staff, but I’m sure that most small business owners , or anyone who deals with employees will already quite well understand this. I have an automated back office system, some self developed processes, and (not that I’ve grown sufficiently) an assistant; all of which are allowing me to scale my business without increasing my effort. In fact I’ll soon be working less.
And this isn’t to say that I don’t believe in traditional small business, in fact I think that traditional small business is brilliant, and should in my eyes be the heart of every community! It’s the small businesses out there that should be the lifeblood of the community! I believe that we should all be switching our buying habits away from the big supermarkets and online stores etc, and start spending within our local communities. But even local businesses can utilise the back office systems, marketing techniques, and home business models, to help to boost their customer base in revenue streams.
However, if like me, and most of us who work in the corporate world, we do not have the skills, experience, money or appetite for risk & debt to make that jump from the corporate world and into running our own little empire! That’s where the home based business allows you to work from just a few hours a week, and build up your business, so that every hour you work is growing the strength of your business.
So if you are intrigued by this post and haven’t yet seriously considered a home based business. Or you want to start one but you’re not sure what to do. Or you have one but you’re not sure how to build and why people should support you, and you should encourage them to do the same. Please continue to read this series of blogs. Or feel free to contact me and I’d be happy to discuss with you, what it is that we do, and how we are helping hundreds of people around the world with bettering their lives, providing financial freedom, cutting working hours, increasing family time, and creating the laptop lifestyle, with a home based business.
If you like this, you may also like my video, which asks Do You Know What the Future Can Hold?
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We can’t solve the problem of today by using the same thinking as when we created them – Albert Einstein
If you can dream it you can do it – Walt Disney
Life begins at the end of your comfort zone – Neale Donald Walsch
Never, Never, Never Give Up! – Winston Churchill