As we enter into Q3, I see many more biz-op offers taken down the market.
(I’m talking about the SG/MY region btw).
By biz-op, I mean business opportunities for newbies – E.g. social media marketing, online courses, etc.
And there are more offers teaching investing and trading…
What can we tell from this trend?
People are generally pessimistic about the economy.
(If you were to look at SG’s inflation rate, it has decreased to 2.9% from 3.1%.)
Lower inflation rates indicate lower spending than before.
People generally spend less when they are less confident about the future economic outlook.
So, this observation is aligned with the numbers.
You might be wondering…
How does this concern you as a business owner?
This observation is indeed something you should be worried about.
These insights show that converting a lead into a client is a lot HARDER.
Because when there is a threat of an economic downturn, your prospects are much more cautious about their money.
And for them to buy from you, you’ll have to give them many more reasons than you usually do.
Btw, we’re entering new territory…
In 2020-2023, the entire info-product, digital agency, and eCommerce space was competitive…
However, the economics weren’t stacked against us – We had high inflation, but people were still spending truckloads of money.
But now the entire tide is shifting.
People are generally spending less and saving more.
What can you do to get an unfair advantage?
This is exactly why I preach my Evergrowth Flywheel Method.
When there is competition and chaos…
You need both reach and trust.
Paid Ads help you with reach.
Hybrid content helps you with trust.
Honestly, I’m publishing so many videos because I know it’ll be worth it in the long run.
I don’t mind if my videos don’t bring me leads tomorrow or next week.
I published these videos to help me solve the trust recession (Which is already here and will only get worse).
By playing the longer game of building credibility, trust, and rapport…
This is the best solution I can think of when it comes to thriving in the upcoming economic downturn…
So instead of looking for the next lead or client…
Try to zoom out and think ahead…
How would you want your personal brand to be known in 2025 or 2026?
