Terrible News About The Economy!

37 replies
The economy is only going to get worse.

So, I have decided to not participate in
the recession. That entire "recession"
thing is not something I like. So, I'm
going to "pass" on it.

Instead, I have a plan... and I think
you, as my fellow Warriors, may
want to devise a plan yourself.

First of all, as a business owner, I'm
lucky (as are many of you). I dont
really participate in this economy
as an employee, so all those jobs
being lost are not much of my
concern.

And, as a business owner, I have the
luxury of operating in what I call, "The
Business Owner World".

You see, there's another world out there
and it's called "The employee world".

That employee world, and those who
live in it, often have zero clue how
the business world is... they have no
clue.

I mean, in the business world, you can
often shape your own destiny and control
how much you get out of this world.

Abundance is as abundant as your mind
will allow and your own self confidence is
often the only thing that stands in your way.

However, in the business world, and as a
business owner, you have the incredible
power of choice.

You can make certain choices about your
business... and your actions... and your
results... that most on the planet could
never do, or even comprehend -- in the
employee world.

Additionally, even if you are in the employee
world, but also have a foot in the business
world, with a part time business, you too
have choices with your part time business.

It's an advantage.

Because, business owners look at the recession
and ask themselves this question:

"How can I capitalize on this recession thing?"

And, if you can capitalize on it... then you
look at all the gloom and doom on the news
constantly pounding the general public into
a panic frenzy........ as the best form of
widespread advertising any savvy business
owner would adore.

Personally, I've been looking around...
researching... asking others... poking...
inquiring... reading... and I believe I
found a solid opportunity to ride this
wave of recession from a completely
different view. A lucrative one.

<big smile>

It is not what happens that is important,
but rather how you react that is truly
important.

And with that in mind, if you decide to
react to the recession thingy in a positive
manner... with an agressive attacking
business owner manner... with a
capitalistic, empowering, results oriented
manner, then this could be one of the
best things to ever happen during
your lifetime (or business lifetime).

As a business owner, you call the shots.
You are the controller of your own business
destiny. This recession thing could be
a blessing in disguise really.

How? In many ways it's a blessing. One
for example is that when things are truly
tough, or slower than you're used to, or
declining, or even in crisis... that's when
you truly become stronger, better, and
more wise.

It's those times that you tighten up your
ship, cut dead weight, train and improve
performance, brew-up opportunities, move
and shake, and ultimately -- make things
better for your business (and your bank
account)

There are those who when their backs are
up against the wall and all things seem to
be collapsing around them, go and run.

Those folks cave in to the media's emphasis
on the panic and recession (it increases
rankings) and they start to think wrongly
in business, and start reaching.

Even in the "Science of Being Great", it says
you cannot be great if you are anxious, fearful
or worrisome. Because, you make wrong
decisions. You act from a timid standpoint
instead of a bold, confident standpoint.

Buy into the media's attempt to create panic
and doom & gloom, negativity and depression,
and you're done.

Otherwise...

Call your own shots, make your own rules,
seek opportunities, adjust your actions, become
more confident... and ultimately only participate
in the recession as one who CAPITALIZES
ON IT.

The beauty of this Internet Marketing business,
is I can sell just about anything in ANY market.

What a great life.

I wish everyone could live it.

Shoot For The Stars!

Eric Louviere
PS - CNN Breaking News! Customer's credit
cards may be declining more than ever right now
severely hurting those businesses who cannot
adjust, move and shake, and find compelling
new opportunities.
#economy #news #terrible
  • Profile picture of the author dennisleo0
    What a great post Eric. You are a talented writer and business man!!
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  • Profile picture of the author SandyDuPlessis
    Eric,

    I loved what you have just written.

    May I please have your permission to quote your text on a South African business owners forum to which I belong, as many of the members are slowly moving over towards IM.

    Sandy
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  • Profile picture of the author Charles Butler
    Excellent post!

    Every wealthy person will more than likely agree and tell you that a recession is one of the best times to get in the game. You can make tons of money with any method in any market if you believe you can!
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    • Profile picture of the author countonuspr
      Great post! I heard someone say once that many millionaire's were made during the great depression! I can certainly believe it. Especially for us in this niche because more and more people are turning to us for advice. The media is open to stories about people making money online. Keep pushing forward, and also keep in mind people are still spending money. I had a great month selling Wii Fit units as an affiliate for eBay. Don't let people tell you that people are done spending money! No matter how bad the times are people will still spend money. Keep working hard and it will payoff.
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  • Profile picture of the author Nightengale
    Excellent points!

    I was in Barnes & Noble yesterday, thumbing through the current copies of Success magazine and Success from Home magazine (Success's sister publication) and was inspired by the letter from the publisher and editor (can't remember his name right now). Basically, he was talking about how and why right now is the best time EVER to become an entrprepreneur and start and grow your own business.

    He offered six tips and I can't remember all of them right now, but a couple of them were:

    1. With the tremendous shifts going on and so many businesses failing, the little guy has more opportunity to be heard and get more business. Your bigger, more established competitors are no more, giving you a chance to get in front of your ideal clients and win their business.

    2. With the the massive layoffs, you now have a shot at getting top-shelf talent for much less. If you've previously needed help but couldn't afford it (or afford the people you REALLY want and need), you now have a chance to get them (and their expertise) for much less. So the little guy who needs a certain expert or person with certain expertise has a much better chance at getting that talent.

    It was a really good and a really encouraging article and I will probably go back and buy it.

    Entrepreneur's current Feb. issue also focuses on turning your layoff into an opportunity to go into business. It's an outstanding issue (as was their December 2009 trends issue). (I was NOT impressed, however, with the January franchise issue. Sometimes it seems like Entrepreneur is just a shill for franchises when franchising is only one of many segments of the entrepreneurial world.)

    Overall, I've been impressed and encourged by these magazines' focus on the positive and on the opportunities of the economy instead of all of the doom and gloom.

    I think many people in business recognize is how important mindset is to success for the entrepreneur, yet the news in the media is absolutely horrifying. As someone with physical problems which contributed to an extendeed period of unemployment between 2000 and 2003, unemployment or no way to bring in income is one of my worst nightmares and I get knots in my stomach just thinking about it. And that leads to paralysis. I literally get paralyzed by fear. (Not just because I'm imagining a difficult situation, but because I've actually been there before and the economy is even worse now.)

    I have to make a conscious effort to focus on the positive, realize that I AM in control of my life and have the choice to take control and move my dreams forward -- that indeed, as the cash cow thread demonstrated, this recession is actually a boost to anyone in IM. If you're in IM, whether your marketing IM information to newbies and ordinary people wanting to work from home, or IM services to other businesses, you're well-positioned for success in this market. And not many industries and businesses can say THAT.

    So for those of us in IM, you're absolutely right: it's a decision and I CHOOSE not to participate in the recession. I'm in the process of re-launching my business and I will grow it significantly in 2009. So I'm excited about this year!

    However, as much as I believe that success is an inside job -- a DECISION -- I would also be careful about preaching this to the general public or chastizing them about a lack of a decision without giving them the tools to do something with. I think compassion, both for the individual and for struggling businesses is important. Because you can make all of the decisions you want, but without the tools to build a better future, you're just spinning your wheels which leads to frustration.

    Good post though!

    Michelle
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  • Profile picture of the author CPA
    I totally agree! Everyone can start a business with little or no investment. I was like 12 when I did. It paid off. I never had a boss and still run a great life. Why work your ass off working for someone, making him money when you can have others do the same for you... CHEAP?! That's what the rest of the world doesn't get... they never will.
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    • Profile picture of the author John Harrison
      Thanks for a great thread.

      I am sure that the ones who survive and prosper through this current climate will do so because of their positive attitude, flexibility and willingness to explore new markets.

      Another thing that we all need from time to time is inspiration, and you have provided that in spades.
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      • Profile picture of the author Kamran
        That was very inspiring. And a great post. I will bookmark this and come back and reread it many times
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  • Profile picture of the author Chuck Evans
    I just got back from the PGA Show the attendance was down but our booth was up! Again this year we had more business then we could handle, gathered hundreds of prospects for our products, and sold tons of our training aids!

    Sure we also had people come by singing the blues. Their business was down, understandable, people being laid off - and laying people off - os it was a mix in our market.

    It is our 20th anniversary of the company and so we handed out some "bling" and even got a deal with the Tiger Woods Foundation for our new clothing line. We announced this line at the show while everyone else was cutting back we SPENT money and it paid off!

    Everyone has a choice in these times. Become part of problem or become part of the solution. I for one am not going to sit back, pull in the horns, "wait it out!"

    This is a great opportunity for those who are innovative and have the balls to step out beyond the naysayers. Our golf schools are packed - people still want their recreation and it calms the nerves.

    Years ago we had an academy in Denver and the state of Colorado had the highest unemployment in the US but we were packed and booked 2 months in advance!

    It was so bad in Denver that the largest selling Sunday newspaper was the Atlanta Constitution! Georgia had jobs, Colorado did not!

    Liquor sales are also usually strong when the economy weakens - RATS!!!! - We're not in that business!

    Chuck
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  • Profile picture of the author TiAndrine
    Great post! Thanks. Napoleon Hill comes to mind with "Think and Grow Rich." Desire backed by Faith! At a time of shaky "faith" in the economy as we have now each of us has all the motivation we need to revisit what we most "desire."

    These are the times of the next innovations, the next leaders who will bring their imagination of "solutions to problems" into a desire-backed-by-faith and by way of "persistence" will create many new opportunities for all the rest.

    Very exciting times! If, faith will overcome any f.e.a.r. (false evidence appearing real)
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    • Profile picture of the author Kay King
      I've seen several threads like this and though I agree with most of Eric's points I don't agree that being a marketer with the POTENTIAL to survive and perhaps prosper in a bad economy means that economy doesn't exist or isn't important.

      If anything, the media love affair with DC has resulted in under reporting of what's happening to real people in this economy. It ain't pretty - and very likely to get worse in the next year. To say we are well positioned to survive the problems is correct - but to say it's an exciting time or that we can afford to ignore what is happening to others, is arrogant.

      That employee world, and those who
      live in it, often have zero clue how
      the business world is... they have no
      clue.
      Truth is there will never be a time when everyone is a business owner. We have to have employees or all of our business would grind to a halt. From google to paypal to CPA to the products we often sell - there are employees that are providing these services. Google announced layoffs this week - could that affect the quality of their service? We don't know.

      With 100k layoffs last WEEK, I don't think we can afford to ignore the economy. There are ways it can affect marketers - non-payment of commissions earned, products that are no longer available, niches that no longer are profitable.

      I think along with opportunity comes the responsibility to serve "desperate buyers" well rather than just capitalize on their desperation.

      kay
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      • Profile picture of the author Sean A McAlister
        Originally Posted by Kay King View Post

        I've seen several threads like this and though I agree with most of Eric's points I don't agree that being a marketer with the POTENTIAL to survive and perhaps prosper in a bad economy means that economy doesn't exist or isn't important.

        If anything, the media love affair with DC has resulted in under reporting of what's happening to real people in this economy. It ain't pretty - and very likely to get worse in the next year. To say we are well positioned to survive the problems is correct - but to say it's an exciting time or that we can afford to ignore what is happening to others, is arrogant.

        Truth is there will never be a time when everyone is a business owner. We have to have employees or all of our business would grind to a halt. From google to paypal to CPA to the products we often sell - there are employees that are providing these services. Google announced layoffs this week - could that affect the quality of their service? We don't know.

        With 100k layoffs last WEEK, I don't think we can afford to ignore the economy. There are ways it can affect marketers - non-payment of commissions earned, products that are no longer available, niches that no longer are profitable.

        I think along with opportunity comes the responsibility to serve "desperate buyers" well rather than just capitalize on their desperation.

        kay

        ..........editing post and the whole thing got deleted....oh well....add this to the
        "Stupid Marketing Tricks" thread
        ....gotta love when that happens

        {and in light of Kays post]} To serve the people who are suffering is a great thing. There are great ways to make money without exploiting peoples desperation. I have had the wonderful opportunity of helping 3 families stay living in their homes, avoid foreclosure re-structure their mortgage and earn some cash doing it.
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      • Profile picture of the author Paul Duxbury
        Excellent post Kay - now is the time to demonstrate how we can help people and not the time to cpitalise on their misfortune

        Regards


        Paul

        Originally Posted by Kay King View Post

        I've seen several threads like this and though I agree with most of Eric's points I don't agree that being a marketer with the POTENTIAL to survive and perhaps prosper in a bad economy means that economy doesn't exist or isn't important.

        If anything, the media love affair with DC has resulted in under reporting of what's happening to real people in this economy. It ain't pretty - and very likely to get worse in the next year. To say we are well positioned to survive the problems is correct - but to say it's an exciting time or that we can afford to ignore what is happening to others, is arrogant.

        Truth is there will never be a time when everyone is a business owner. We have to have employees or all of our business would grind to a halt. From google to paypal to CPA to the products we often sell - there are employees that are providing these services. Google announced layoffs this week - could that affect the quality of their service? We don't know.

        With 100k layoffs last WEEK, I don't think we can afford to ignore the economy. There are ways it can affect marketers - non-payment of commissions earned, products that are no longer available, niches that no longer are profitable.

        I think along with opportunity comes the responsibility to serve "desperate buyers" well rather than just capitalize on their desperation.

        kay
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  • Profile picture of the author Steadyon
    NOW is the time to get busy and build a business/internet empire.

    Think long term, keep overhead costs to a minimum. Only spend money if it generates a positive return (apart from some low cost testing).

    Connect up with more people, build more contacts, lists, content. Follow basic seo principles. Learn PPC basics and learn copywriting. Invest more in your winners. Cut your losses. Build more sites. etc. etc. etc.

    Stay focused but always keep an eye out for new opportunities.

    At least once a week, step back from what you are doing and review things. Ask yourself the "what if" question.

    In other words, "What if we increased our prices", "What if we lowered our prices". "What if we started a completely new website". "What if we added more content regularly". "What if we did this or that" etc. etc.

    Allow yourself at least a few hours a week to review your goals and direction for your business etc. Then when you get in the habit of doing this you will start to get more focus on the really important things and progress will be much smoother.
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  • Profile picture of the author bigblue
    great post and great attitude Eric.

    Bill Gates at Davos WEF mentioned that the recession could last for 4 years.

    Business owners can call all the shots but also have to be responsible for revenue to extend the runway to cover expenses through the downturn.. cash is king
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  • Profile picture of the author eddycole
    Originally Posted by Eric Louviere View Post

    The economy is only going to get worse.

    ...

    And with that in mind, if you decide to
    react
    to the recession thingy in a positive
    manner...
    with an agressive attacking
    business owner manner... with a
    capitalistic, empowering, results oriented
    manner, then this could be one of the
    best things to ever happen during
    your lifetime (or business lifetime).

    ...

    Even in the "Science of Being Great", it says
    you cannot be great if you are anxious, fearful
    or worrisome. Because, you make wrong
    decisions. You act from a timid standpoint
    instead of a bold, confident standpoint.


    ...
    I'd argue that the words 'act' and 'react' above would serve your point better if they were switched around...

    Great entrepreneurs know that in a down market the opportunity is there to gain market share and position themselves and their business as leaders, while their competition is running around with their pants down.

    Very nice article, Eric, and highly inspirational. A breath of fresh air in the gloom and doom. Thanks!

    Don't wait til you're starving to go hunting for your next meal.

    Ed
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  • Profile picture of the author schumer182
    Great post...should make that into one of those inspirational posters!!
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  • Profile picture of the author Mark Kaye
    This is fantastic!

    Every time in history the world has experienced an economic recession like this one, one thing has brought us back...Entrepreneurs.

    Entrepreneurs create new business, new products, new jobs, and new sources of income when the world needs it most!

    Entrepreneurs are the ointment to the disease of recession. If you are reading this and you are an Entrepreneur then be proud because you are the solution!

    -MK
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    • Profile picture of the author kiethdavis
      Great post Eric! I couldn't agree more. I won't be participating in the recession either. Ehhhh, I just don't feel like it.
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      • Profile picture of the author bgmacaw
        Originally Posted by kiethdavis View Post

        I won't be participating in the recession either.
        Saying you won't be 'participating in the recession' is like saying you won't be 'participating in paying bills' or you won't be 'participating in paying taxes'.
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        • Profile picture of the author kiethdavis
          Originally Posted by bgmacaw View Post

          Saying you won't be 'participating in the recession' is like saying you won't be 'participating in paying bills' or you won't be 'participating in paying taxes'.
          I humbly disagree. A recession is a label economists invented to describe how they think our financial situation is as a whole. Just as if a meteorologist said "we are in a harsh winter" I could choose not to participate in the harsh winter by getting warm by the fire or spending some quality time with my loved ones without even noticing the "harsh winter" outside.

          But at the end of the day, I just meant I wouldn't let the current "economic crisis" get me down emotionally, or affect my thoughts. Because it is very easy to get depressed and un-focused with all the negative talk and energy out there.

          And as for paying my bills, I don't do that either, my customers do

          P.S. I mean all this in the most light hearted and playful way and mean no offense.
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          • Profile picture of the author mfleisch
            I totally agree. This weekend I was speaking with a friend who got me much too upset about the economy and where things are going. My belief is if you focus on the negative, that's exactly what you'll get. So I really like your idea of just not participating!
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          • Profile picture of the author bgmacaw
            Originally Posted by kiethdavis View Post

            But at the end of the day, I just meant I wouldn't let the current "economic crisis" get me down emotionally, or affect my thoughts. Because it is very easy to get depressed and un-focused with all the negative talk and energy out there.
            My point is that positive thinking also has to be realistic thinking or it's apt to become wishful thinking and thus disastrous thinking. While it's easy to fall prey to negative talk, it is also easy to fall prey to positive talk that denies the reality of the situation.
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            • Profile picture of the author kiethdavis
              Originally Posted by bgmacaw View Post

              My point is that positive thinking also has to be realistic thinking or it's apt to become wishful thinking and thus disastrous thinking. While it's easy to fall prey to negative talk, it is also easy to fall prey to positive talk that denies the reality of the situation.
              I totally understand your point, but if I had been thinking "realistically", I'd have never become a full time internet marketer. I NEVER think realistically.

              But I do get your point. I have to be both confident AND competent. And I agree we should not pretend a problem doesn't exist or deny it is there, but we can shift our focus about it and handle it in both a responsible and "positive" way.

              I firmly believe life is what we make it and while we may have no control over outside events, we have 100% total control over our thoughts and actions.

              One last thought. What exactly is the "reality of the situation"?
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              • Profile picture of the author ShayB
                This was a fantastic post, and I truly, wholeheartedly agree.

                Yes, it is true that there is a recession, but I can choose not to participate in the recession mentality.

                My family (as in parents, aunts, uncles, etc.) is so scared that it is truly affecting their judgement. They are not even being rational.

                For example, my mom works for a construction company. She is the office manager, and she gets a nice commission when she sells parts to the people she deals with. People call in needing help, and she will inquire if they needs parts when they call.

                She mentioned her commission was ZERO for the month. I asked why.

                She said she had stopped asking if customers needed parts/etc., because the economy is so bad.

                Note that she didn't say they stopped ordering. She stopped asking. We had a chat about that.

                We are not burying our head in the sand, but we also not giving in to the hysteria, either.

                Layoffs and job losses are upsetting, but nothing is guaranteed. You HAVE to plan for the worst and hope for the best. That means having an emergency fund and living on less than you make.

                That means having a Plan B/emergency plan for your business, too.
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              • Profile picture of the author bgmacaw
                Originally Posted by kiethdavis View Post

                One last thought. What exactly is the "reality of the situation"?
                That you understand the situation you're in and react logically and wisely to the reality of it. It goes back to things like the OODA loop and other combat theories I've studied.
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                • Profile picture of the author kiethdavis
                  Interesting, I'll have to check out that OODA loop thing.
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    • Profile picture of the author DiamondPed
      Great posts & great discussion here.

      I certainly wouldn't advocate taking "advantage" of someone "down on their luck" but this recession will provide countless opportunities for those that go out & ACT !

      These opportunities may indeed help some others who are struggling & open their eyes to the "business mentality" getting away from the "Dependancy Culture" that so many people have adopted .... unfortunately.

      "...... the BEST way to help the poor people is ......... NOT to be one of them !"

      Racking my brains to remeber if that quote was Rohn or Ziglar :confused:
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  • Profile picture of the author yaz8888
    Great post...We all need things to keep us going when things seem to have hit rock bottom.
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  • Profile picture of the author Hugh
    Eric is spot on. Here's why I am optimistic.

    Due to the current recession:
    30% of the weakest businesses will fail.
    20% will become stronger in order to meet the challenges
    50% NEED ME!!! to show them the way. I cannot do it all, so
    come on guys and gals, let's go help them.
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  • Profile picture of the author GeorgR.
    we can always DELIVER.

    Economy is bad, people are poorer. People looking for ways to

    a) save money
    b) make money

    there is always a market. Think positive
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  • Profile picture of the author Evita
    One thing is for sure.

    Those who prospered during the great depression were
    surely not freaking out with the masses.

    Totally excellent post, Eric

    Evita
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  • Profile picture of the author TimG
    Eric,
    Great post and some fantastic comments by many others in this thread.

    Funny thing, even with the economy the way it is and jobs being scarce...etc, I've never been more comfortable in my life with my decision to retire from the military in 2 weeks after over 20 years of service.

    I'm able to make this transition stress free due in large part to the online business I've spent years building and because of a positive mental attitude.

    On a side note, as I have spent some time looking to see what jobs are available should I choose to work again I can say without a doubt that there are jobs out there. Many companies are still looking for bright, energetic folks with good skill sets and they need them now versus tomorrow.

    Respectfully,
    Tim
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    • Profile picture of the author Eric Louviere
      Hey, Tim, Big Time Congrats man!

      You are one cool dude and I love
      hearing updates about your success.

      Rock on and let me know if you ever
      need anything at all from me.



      Eric
      PS - yes, some interesting views here.

      Oh, one thing... I never meant that I
      would capitalize on people who are
      down and out. that's not at all
      what I'm talking about. Not even close.

      It's the opposite in fact, but no matter
      what you say, some people are positive,
      some negative and others in the middle.

      I try and be more towards the positive,
      because the others never made me
      any money -- or very happy either.




      Originally Posted by TimG View Post

      Eric,
      Great post and some fantastic comments by many others in this thread.

      Funny thing, even with the economy the way it is and jobs being scarce...etc, I've never been more comfortable in my life with my decision to retire from the military in 2 weeks after over 20 years of service.

      I'm able to make this transition stress free due in large part to the online business I've spent years building and because of a positive mental attitude.

      On a side note, as I have spent some time looking to see what jobs are available should I choose to work again I can say without a doubt that there are jobs out there. Many companies are still looking for bright, energetic folks with good skill sets and they need them now versus tomorrow.

      Respectfully,
      Tim
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  • Profile picture of the author operationivy
    great eye-opener. thanks
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