Being Bold in Rough Economy

The economy is in deep trouble.   It’s bad now, but this is just the beginning.   There will be fundamental changes in the global banking system, the use of credit and the value of currencies.   It’s going to be rough.

So what do you do?   Wait it out?

I think this is a time to be bold.   Not stupid or careless, but bold.

So, in keeping with my “Be Bold!” strategy I’m still spending money, investing and growing my business.   In fact, I’m working on buying a pretty expensive domain name for a project right now and I plan to launch two completely new businesses in the next two months.

One of my biggest sources of income is selling domain names.  [I’m not talking about ultra-premium names I’ve kept in my portfolio for years either.   I’m talking about buying and quickly reselling domains for ~$300 each.]    Anyhow…In September of 2008, it really appeared that this part of my business was on a serious decline.   I couldn’t help but only expect it to get worse.

But, As quickly as my domain sales went down, they came back.   Right now, January 2009 is looking like my second best month ever.   How much money did I make flipping domains this month?  It’s a big number, trust me.

So, if I’m selling domains, that means people are still buying.   The world (especially the world of entrepreneurs and small businesses) is made up of innovative people who will strive to survive the downturn.   But more than that, there are many that will “Be Bold!” and take advantage of opportunities and weakness in the marketplace.

Your task, if you want to thrive in this bad economy,  is to serve be Bold by serving the Bold.

“mom-preneurs”

A recent report authored by the Institute for The Future talked about the growing number of “mom-preneurs”.   If you spend anytime working with entrepreneurs (especially micro-preneurs), this seems self-evident.   Some of the key findings of the report include:

As aging Baby Boomers “unretire” to leverage their lifetime of professional acumen in their own business opportunities, and as their children enter the job market, entrepreneurs will come more from the edges of the age spectrum. The younger generation, which is more adaptable to technology, views entrepreneurship as a way to maintain independence, and it might set the bar as the most entrepreneurial generation ever.

and..

With the glass ceiling blocking the corporate career paths of women, a rich talent pool has been sent to the small business sector. Among them are “mom-preneurs,” or mothers who start part-time, home-based businesses with the help of the Internet.

Download the Report Here

Sounds good, but how the hell do you DO “Buzz Marketing”?

I have been marketing online since 1998. I’ve used every “traditional” online marketing strategy including SEO, SEM, email marketing, banners, pops, contextual, affiliate marketing, etc. etc. But the big “Buzz” words are “Buzz Marketing” and (even though I remember hearing about this in 1999) “Viral Marketing”. These things aren’t new at all. A combination of PR and word of mouth advertising supercharged because of the internet.

In theory these things sound really great, but how do you actually implement a “Buzz Marketing” campaign? I have some ideas on this, but they really are just guesses. I’d love to hear from some people who are in the “know” about creating buzz. I’d appreciate any feedback and I’ll share my knowledge on this blog as I experiment.

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