So another celebrity falls from grace….I will tell you this. I NEVER thought it would be Tiger. So, my ongoing question still applies. How does this affect his sponsors? Tag Heuer, Gillette, Nike, Accenture all have multi-million dollar sponsorship agreements with him. Do they drop him? What about Cadillac? I am sure they are […]
The internet is full of information. It is also full of porn, useless drivel and scam artists. However, if you use the internet like it should be used, it can be tremendously advantageous to you. Very successful people use the internet as their focus group, marketing tool, personal library and online university. Of course you […]
Paying a celebrity or sports figure to represent your company in promotional campaigns is an enormous gamble. You must take into account the integrity, lifestyle and personality of that spokesperson. If they are involved in negative behavior, they can have a detrimental effect on your sales, company and brand. Normally, when a spokesperson has a […]
It is a Herculean task to create, implement, manage and evaluate an entire marketing program. I know. I have implemented several. From strategy to tactics to vendor management, it is tough. The Colorado Avalanche Hockey Club has implemented a new one this year. At least, they have improved on it from last year anyway. I […]
Have you ever had that friend that complains about how bad his/her life is? Does your job give you a feeling of ambivalence and loathing? Is there a person that only points out the negative things in your life/work? Do you have a client that is more trouble than they are worth? These are the […]
As I cycle my bike to work one early fall morning, I am trying to not daydream on the bike path that I have ridden countless times. Although the path itself is very scenic and runs along the infamous Cherry Creek here in Denver, CO, I can’t help but inattentively petal continuously towards my office. […]
Yup. Those are both real words. I looked them up on dictionary .com. Microsoft word doesn’t even recognize them. They are not a good blog post title, but I don’t care. I digress. It is easy. You get caught in a rut. The same monotonous routine day in and day out. For some this their […]
It’s not “if” your product fails, it’s when Everyone drops the ball. Even the most reliable products and services will inevitably fail, your employees will say something incorrect (or, if you’re lucky, inappropriate) or something will just get missed. So, it isn’t that your product will fail, it’s when. So, make sure you are prepared […]
There is something to be said for perseverance. Whether in a sales role or maybe in a romantic situation. Books, seminars, training classes are quite abundant on the subject and for good reason. Perseverance can get you a long way. It can close that sale or persuade that woman (or man) to finally go out […]
Wow. That is a bold statement for a blog post. Who in their right mind would think a recession is good?
People are losing their jobs, the housing market is in the toilet and no one can get any kind of loan.
Let me explain my way of thinking.
Reasons recession is good for the individual
The reason a recession is good is that it forces people out of complacency. When times are good, we go through our daily routine, sell the way we have always sold, marketed the way we have always marketed, bought the way we have always bought, etc… So we tend be liberal with our money, and throw it around a bit. The recession has made us all think more about where our salaries go.
Reasons recession is good for companies
Companies are now forced to really concentrate on what their product/service offers. There are many “me too” products out there that satisfy a need but are of lower quality and have no real value. Companies that exploit this are going under and when they do they are removing their crap from the market. Once the economy gets going again, demand for all products will go up, consumer spending will rise and there will be fewer retailers out there to provide the supply to the consumer. These stronger companies will benefit immensely from all the second rate businesses that have been taking market share. Jobs will return, sales will increase and we will have weeded out all the weaker firms. I guess it is like a Darwinian business theory.
The other reason a recession is good for companies is because they will now be forced to innovate to improve their offerings. For example, I went to a gas station the other day and as soon as I pulled up, an attendant came walking out of the store directly to me. I was wondering what he was doing until I realized that this particular gas station was now full service!! With no increase in the price of gas.
I vaguely remember this as a kid and haven’t seen something like this in quite a while. I thought it was a terrific idea. A truly value-added service that can really differentiate this chain of gas stations from all the others. Now this isn’t the invention of the iPod or the Wright brothers and the first flight, but I believe this will make this chain stand head and shoulders above the crowd.
The recession is forcing companies to think about their offerings, products, services and in some cases, their entire business models. No complacency means better products for us, the consumers. Long live the recession!! (not really, but you get my point)