If you’ve been following the news, you’d know that 2015 is predicted to be bad for businesses in Singapore. Many business owners are already bracing for low sales. But.. Crises like these are PERFECT opportunities to gain massive profit. Here’s how: John D. Rockefeller, the legendary oil magnate and philanthropist once said, “The way to make money is to buy when blood is running in the streets.” While that might sound callous, he was actually referring to the opportunities that come along with a crisis. Any investor worth his salt knows this to be true; that a financial crisis presents a rare opportunity to buy blue chip stock at bargain prices. In my previous posts, I talked about the ONE secret strategy that has allowed Rockefeller to dominate the oil industry… the same strategy that helped other billionaires like Warren Buffett to dominate theirs as well. (Check it out here: on.fb.me/1GFZzTk) During the Panic of 1857, when a massive national financial crisis hit extremely hard, businesses were destroyed while price of grain plummeted across the country. It caused a crippling depression that lasted for several years. Many investors got scared and started pulling out (who could blame them?). Others got their hands burnt and went in debt. What they didn’t realise was that they were missing out... But Rockefeller went the opposite way. He knew that crises are opportunities in disguise. He knew that if he could observe and learn how the market moved, he could reap huge reward. And that was what he did. And so in the end, while others got mercilessly decimated, Rockefeller benefited massively and eventually gained 90% of the oil market! Have you ever wondered why during times of crisis some people can instantly become more wealthy while majority of the others crash and burn? What made the difference? Was it purely because on luck? (Answer: It wasn’t) In my bestselling books Secrets to Dominate your Niche and Niche Dominators: Success Secrets Exposed that I co-authored with Thomas Fernandez, I talk about how every problem presents opportunities for those who have the entrepreneurial mindset; those who not only recognise the problems but focus on providing the solutions. There are two elements that are important here: 1. You have to recognise the problem. 2. You have to focus on coming up with and providing the solutions to the problem. If you don’t recognise the problem, obviously you won’t see the opportunities that are available. However, recognising the problem is where most people stop. They see the problem and focus on it. In fact, sadly, a lot of times the first reaction people have when they come across a problem is to “cover their a**es”. They look for someone else to blame so they can be safe. So the lay-the-blame game begins. Not only is this an extremely sad attitude, it also makes them focus on the problem even more… not the opportunities. But those with the entrepreneurial mindset think differently. They focus on providing the solution to the problem and by doing that, profit from the problem. Here’s an inspiring real-life example from the book: During the SARS crisis, everyone was paranoid and stayed at home as much as possible. Businesses were all badly affected by SARS because people were afraid to come into contact with any strangers in public places. The hospitality industry was hit especially hard by this health crisis and Thomas’s business was greatly affected. But instead of cursing his bad luck and bemoaning the health crisis, Thomas recognised that there was a huge potential opportunity for him to capitalise on. As SARS was affecting a lot of industries, he knew that there was a huge demand for effective solutions. This meant that there was a huge ready market. He began to mobilise his staff to do research on what they could do during that time and.. they managed to came up with a perfect solution! In the end, while most businesses were struggling to even stay afloat, Thomas managed to generate $500,000 in 30 days! Can you see how, even in times of crisis, there are many opportunities to take advantage of? No, let me rephrase that: It is in time of crisis that there are HUGE opportunities to capitalise on! So remember, instead of blaming and complaining whenever there’s problem, always ask yourself, “How can I profit from this? Useful? “Share” it so others will benefit as well. If you want to get more powerful and practical tips on business, marketing and entrepreneurship, click here --> bit.ly/1mp-fblp1
Posted on: Fri, 23 Jan 2015 12:30:01 +0000
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