When I had my financial planning practice during the Great Recession I had two clients who both owned a car detailing business. One felt the dip in business was because people didn’t want to pay for the luxury of getting their car detailed. The other looked for opportunities and found a couple of car dealerships wanted flexibility instead of having full time staff. He got Porsche as a client. That led to more clients.
The current situation may be hard because of circumstances, but what you do moving forward matters more.
Haha, this is so cool! I'm a firm believer that opportunities are around if you look for them. But you do have to believe they are there! It does require a blend of faith and confidence to go after those.
Focusing on the things you can control is always a good idea. Views, like those metrics, are all outside of this.
Writing better proposals and learning new tech to escape a falling market are all things you can control.
The market can head towards being saturated in some niches, but it's hard to tell if you're in the same niche. But there are signs. First, you'll notice the prices diving, and then automation tools appear. I coded Joomla websites before a colleague for a lot of money. Now, you have to write full-stack applications to make the same money. The skills required are a world apart.
Basically stoic philosophy. There's a balance between acknowledging there is such a thing as bad luck, bad circumstances and that not everyone who fails "deserves it", while also realizing that dwelling on that stuff too much is mostly pointless and a positive mindset can overcome a lot of unfortunate circumstances.
Pretty neat summary. Stoic philosophers got a lot of stuff right! They do talk a lot about managing expectations and what we're chatting about is a lot of that.
Although, it really is a process to understand what works, what doesn't, what we can control and what we can't to adjust our expectations. It's a constant process of making assumptions and testing them against reality. Obviously, there's a whole set of emotions to process going through that process (especially when assumptions are invalidated).
When I had my financial planning practice during the Great Recession I had two clients who both owned a car detailing business. One felt the dip in business was because people didn’t want to pay for the luxury of getting their car detailed. The other looked for opportunities and found a couple of car dealerships wanted flexibility instead of having full time staff. He got Porsche as a client. That led to more clients.
The current situation may be hard because of circumstances, but what you do moving forward matters more.
Great write up and a great reminder
Haha, this is so cool! I'm a firm believer that opportunities are around if you look for them. But you do have to believe they are there! It does require a blend of faith and confidence to go after those.
Thank you for sharing this cool example!
God yes, excuses and blaming externals gets you nowhere fast. Responsibility and action are always a better bet!
Pick your battles! A lot of energy will be used in both situations.
Focusing on the things you can control is always a good idea. Views, like those metrics, are all outside of this.
Writing better proposals and learning new tech to escape a falling market are all things you can control.
The market can head towards being saturated in some niches, but it's hard to tell if you're in the same niche. But there are signs. First, you'll notice the prices diving, and then automation tools appear. I coded Joomla websites before a colleague for a lot of money. Now, you have to write full-stack applications to make the same money. The skills required are a world apart.
I’m assuming the more competition and the more you’d need to differentiate yourself to get a slice of the pie!
Sure, if you want to stay in the game, then it's good motivation. :)
Basically stoic philosophy. There's a balance between acknowledging there is such a thing as bad luck, bad circumstances and that not everyone who fails "deserves it", while also realizing that dwelling on that stuff too much is mostly pointless and a positive mindset can overcome a lot of unfortunate circumstances.
Pretty neat summary. Stoic philosophers got a lot of stuff right! They do talk a lot about managing expectations and what we're chatting about is a lot of that.
Although, it really is a process to understand what works, what doesn't, what we can control and what we can't to adjust our expectations. It's a constant process of making assumptions and testing them against reality. Obviously, there's a whole set of emotions to process going through that process (especially when assumptions are invalidated).
Good points. I try to avoid excuses and blames. The time you spend on those can be used to solve the root of the problem.
I agree. I’ve also found that sometimes it’s part of processing those challenging situations. But we need to get out of that emotional rut eventually