Why Recessions Are Good
Whenever there is a recession, it’s actually a good thing for many businesses.
That’s because all the “wannabe” service providers go belly up, leaving more business for everybody else.
The serious players usually see growth instead of contraction. That’s because:
- The real estate agent who sells four or five homes a year for friends and family chooses to do something else, leaving her clients to more successful agents.
- The part-time mortgage broker finds something better to do with his time — and sends his clients to more established brokers.
- The copywriter who’s just “trying out this copywriting thing” decides it’s not for him — so he kills his Adwords campaign and gets a job.
This happens every time there’s a recession. All the halfway serious service providers voluntarily exit the market, leaving that much more business for the folks who stay.
Once again, consistency — and staying power — win the day.
-Ryan M. Healy