[pennystockhaven]

Originally Posted by oldtrader

There is an old saying; When times get tough, the tough get going.

You have to work harder in tough times, but you can still be successful. When times get good again, you will be set for an even bigger boost to your business, as you have laid a lot of solid groundwork to succeed in bad times.

The worst thing that a businessman can do in bad times is to read newspapers, magazines, radio and television on how bad the economy is and no one is making money. Looking at two examples of businesses that are successful. Others are just setting back to see what will happen and they are in a world of trouble.

McDonald's is up over 10% over last year. They prepared for the slow times and installed premium coffee in their restaurants, and are pushing their dollar items. Their coffee at a much lower price than Starbucks, is really hurting Starbucks as one part of their success. Their business is going up, not down as many competitors are seeing.

Wal-Mart is also up about 10% by recent reports. They are taking business away from the high priced retailers right and left.

There are numerous examples I could give of success, but use these two because they are corporations everyone has heard of.

This is what we used to do when I was in retail years ago. In bad times we went out there and found manufacturers that needed to move some merchandise they had in the warehouse and would give us a great deal. We would promote this merchandise and made money right and left. We did great, and watched our competitors hurt badly, or go out of business.

If you want to make money today, you just have to work harder and smarter instead of sitting and thinking things are going bad. Forget that others may be in trouble, just go out there and look for what you can sell on line, or be an affiliate with something priced so right, and of a quality people will flock to buy and make your money. You may have to run two websites instead of one to make money today. But with the low cost of bandwidth, and domain registration this should not be a problem.

perfect explanation for the one side of the coin... as of "oldtrader" you should know the other side too: keep hands on market pulse & go "short" on businesses (public traded companies) that are not able to make money in this economy.