Ben Bernanke, Chairman of the Fed, voiced his opinion this morning that the current recession should ease up within the next 12 months and give way to some solid growth. Does this mean we’re out of the woods?
Well, maybe and maybe not. I certainly don’t have Bernanke’s background and resume, but if there’s one thing I do know about economics, it’s that it’s an uncertain science. In other words, spending and confidence might be back to normal tomorrow, but they also might not. What’s more, I know that it’s his job to help instill that confidence, so I’m going to take his statement with a grain of salt.
I mention all of this today because there are lots of salespeople out there who are taking a ‘wait it out’ approach to the recession. Hold on long enough, they figure, and things will get better. In the long run, of course, they’re absolutely right. But burying our heads in the sand, or waiting for better economic weather, entirely misses the point: a recession is a great time to grow your business!
So while the rest of the world is hanging on every word that the big name economists utter, take a more proactive approach and get busy selling. There are a lot of small buyers, bargain hunters, and underserved clients out there. Now is the perfect time to add them all into your client list. Certainly, the recession will end, sooner or later, but the question you should be asking yourself isn’t what month or year it will be over – but how much money are you going to make in the meantime, and how many new customers you’ll have when it is.
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