Recently, Abdul Samad joined Modern Millionaires co-creator Chance Anthony to discuss recession-proofing your internet business. Whether you go the “officeless agency” route, as they teach… or use another model like dropshipping or affiliate marketing… I’ll summarize their advice below. But first, hear from their mentor, in this fun little case study he did with another student:
Okay, back to Chance and Abdul on how to survive or even thrive during a recession.
First and foremost, says Abdul, you want to become the best at what you do. That way, you’re highly sought-after. See, during a recession, those who are merely average at what they do, are the first to go. For example, say you run a local marketing agency where you use Facebook and Google ads to send small businesses leads. Cool. But in times like this, where The Rona’s got every small business cutting back, mediocre marketers will be seen as an “expense”… and thus, getting axed is inevitable. However, if you’re the Don Draper of digital advertising, well, you’re the bill that pays the bills, aren’t ya? So you gotta commit to mastery. Period.
Second, and this ties into Abdul’s first point, get professional training. Think about it. If actors, musicians and world-class athletes all have coaches, why shouldn’t online marketers? Why do so many of us think we can just wing it and be successful? It’s a solid point, and one I learned the hard way, which you can read all about in the article I wrote titled My 6 Worst Money Mistakes.
Third and final, Chance chimes in, is this: “Make sure that you have a product that your customers have to have.” In other words, rather than a luxury item, a necessity. Something they have to have; or, even better, something that’ll lift ’em right outta that recession. Like, oh I dunno, money. Which, when ya think about it, that’s really what agency owners are selling, is it not? … Not leads. Not even customers. Profit is what they’re after. Another reason to seriously consider a career in lead gen if you haven’t already.
Anyways, there you have it—a crash course in recession-proofing your digital business by Abdul and Chance.
