Whenever an economy crashes the first businesses hit will be the major trade establishments. From there, it goes down layer by business layer from the larger companies to the smaller businesses until it arrives at the doorstep of the average employee. Economic trends, be they booms or depressions behave that way, affecting the biggest economic units first and the smallest ones last. By providential design, perhaps, the ordinary man learns about economic developments long before they affect his life. So whether the change is an upswing or a downtrend, the common folk feel the effect last and for the shortest time. Their businesses therefore always have more time to adjust to situations
In a global economic crisis, such as we have today, traditional avenues of commerce have become unviable for subsistence. The wages that employees receive are no longer sufficient for them to pay their debts, let alone save up for anything. Medium and large-size investments are in a stalemate and cannot be re-converted to cash, even at a loss for the investor. Few people have the guts to spend money for anything more than their basic needs because it has become so difficult to come by.
However, one sector of the trading community is relatively unscathed by the effects of the market crash. These are the small and flexible businesses of small-time entrepreneurs. They are more manageable and cost-effective than their bigger brothers. Their effectiveness during times of crises was proven in the market plunge in the 1930’s when they were among the only business establishments left standing.
The book, “Put More Cash in Your Pocket” by Loral Langemeier, explains the dynamics of a successful small business which earns money fast for you. It explains why methods of money-making which are effective in economic stability may no longer be useful in emergency situations. The overall stress of the book is laid on the self-reliance of the small entrepreneur as a means for achieving security in times of want. It traces the source of this self-reliance from the moment an individual becomes aware of how his skills can be put to use for his own ends instead of for other people’s gain. The book presents a guide on how to identify that special ability that can make a person his own boss, create new money and give self-reliance to the individual. It then continues with tips on how to plan out the small business venture.
A great deal of emphasis is made on the research and study that is necessary for designing the small business enterprise that will last. The advice given in the book for aspiring small business entrepreneurs is to stay small, streamlined and focused in the beginning. Persistence and meticulousness to business detail will eventually bring the small business to a higher income level in a short time.
Stress is also laid on the role of psychology in gathering success. Since the interaction between client and seller will be mostly on the personal level for small businesses. A keen understanding of psychology will be invaluable.
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