Recession, What Recession?

“I have an almost complete disregard of precedent,
and a faith in the possibility of something better.
It irritates me to be told how things have always been done.

I defy the tyranny of precedent. I go for anything
new that might improve the past.”
– Clara Barton, organizer, Red Cross

In Issue #165

Recession, What Recession?
by Monica Day

As a financial copywriter, I knew the economy was heading for a change for the last couple of years. So by the time the mainstream press caught on and started writing about it, I was already bored by the subject and looking for the next trend.

It’s a strange thing, writing ahead of the times. When everyone was fat and happy, I was writing about the pending doom and gloom. Now, everywhere I turn, the doom and gloom is on the front cover. Today, Citigroup announced a negative earnings report and the possibility that 9000 people could be laid off. When I opened up my internet this morning and msn.com popped up, I got this list of links to click:

  1. Why you need $500 in the bank
  2. Reality check: The ‘essential’ indulgences
  3. 5 steps to fix a broken budget
  4. Money woes? They’re all your fault
  5. Why hard work doesn’t pay

Hey, just because I knew it was coming doesn’t mean it isn’t nerve-wracking. But my job is to stay ahead of the curve. And so is yours.

If you are a business owner, you’ll be looking for ways to stay afloat. Sloppy marketing just won’t do. Lazy sales cycles will be the kiss of death. Shoddy products that don’t scream value will languish unbought.

I’m also guessing that more jobs will be lost, more people will be looking to make extra money, and copywriting is going to be looking pretty darn good to a wider circle of people looking to stay ahead of the game as money gets tighter.

It’s important to be aware of the changes afoot. To understand how the general mood about the economy might affect your business and your clients. But you can’t afford to let yourself panic. Rather, take your energy and look for the opportunity underneath all the bad news.

If you held off buying property when the market was overpriced, now might be the time to jump in. But if you were hoping to take a flying leap out of your job by taking out a second mortgage, you might need to grin and bear it for a few months longer.

Yes, these are times to exercise a little caution, to be smart about making a transition. But it’s not a time to get frozen. People still get rich in poor economies. The trick is to know what trends will arise out of the ashes.

For example, as oil costs rise, car sharing companies will benefit. Green strategies that reduce heating and air conditioning bills will take hold. Fuel efficient cars will become more popular.

You can take just about any piece of “bad” news and follow it along to discover the “good” news that lies underneath.

It’s a good time to assess both your life, and your business. You might get ideas about where to look for new clients, what type of new business to start, or how to reinvigorate the business you have. Where are you vulnerable? What opportunities can you grab that would transform a bad economy into good fortune for you?

The job of a copywriter, whether you are writing about finance or any other subject matter, is to know where we are in a trend…and to get as far out ahead of it as possible. It’s the reason my colleagues and I aren’t running for the hills, or figuring out how to get out of the business.

Rather, we are doing what we always do: take notice of what’s going on around us, and pay particularly close attention to the horizon.

Resource Referral: 15 Ways To Steer Clear of the Mess

Krista and I started talking about this recession a while ago. While we weren’t worried personally, we suspected that newer copywriters might be. And we thought about putting together a report that would help our readers to think through how they might be affected personally by the economy…and what they could do about it.

Fortunately, Bob Bly saved us the time and trouble. He just issued a special report called Recession-Proof Business Strategies.

In this report, he acknowledges that an economic slowdown can be a problem for your business. But he doesn’t dwell on it. Instead, Bob shows you how to look at it as an opportunity to gain new clients and boost your sales.

Discover how you can master the marketing and sales methods that work best in recessionary times…so you can read the headlines all over today’s news and not spend any energy or time worrying about it for a change. Click here to find out more.

Quick Copy Tip: It Pays To Be Easy

When competition gets fierce, and projects slow down – it can take more than good writing skills to hold onto your clients and keep your business percolating along.

As a freelancer, you have to be highly attuned to the moods and needs of your clients. I generally advocate being easy to work with – but in lean times, this advice is even more important. Yes, churning out controls is a big consideration. Meeting deadlines matters. But…

Being easy to work with counts more than you might realize, especially in times of increased stress.

Your client gets to be the one with the temper tantrums, unreasonable demands, and unrealistic expectations…not you. When everyone is fat and happy, there is a little more room for the prima donna. But now that the winds of economic change have taken a turn, your attitude needs to be as easy as the gentle spring breeze. Or it will start to cost you more than you probably want to pay.