WHO WANTS TO BE A MILLIONAIRE?
“This is the perfect time to build your own personal fortune”

Many of us are wondering what will happen if the country goes into another economic downturn like the Great Depression of the 1930’s. What few of us know however is that more millionaires were created during the Great Depression than at any time in Americas’ history. You should know that the Great Depression actually began several years before the 1929 stock market crash and lasted until World War II brought the country out of depression. Not unlike today’s economic downturn, individuals and companies ran up large amounts of credit debt. When banks were no longer able to extend credit and businesses were unable to pay their debts, businesses closed resulting in massive lay-offs and business failures. In the artful words of Yogi Beira “ it’s like Déjà Vu all over again”.

Many people believe (me among them) that the best possible time to build an incredible fortune is during the worst of times. Not only are more people in need of products and services that cannot afford them, but the playing field is much more level because everyone is doing without. During these times insightful individuals can use the power of their creativity to make a tremendous difference in the lives of many. That is in fact the driving force behind a successful business; find a product or service that the masses need and offer it in a practical cost effective way. During the depression many of the businesses that were unable to maintain, were bought up by those with liquid assets. The number of businesses that changed hands are too numerous to mention, but needless to say those that produced products in support of the war effort became some of Americas biggest companies and their owners became some of Americas richest people. Those products and services included; iron, steel, clothing, hats, cots, petroleum products, shipping containers, back packs, ammunitions, ready packaged foods and the list goes on.

This begs the question what is your plan for capitalizing on the current economic recession. If you are thinking business as usual you may want to rethink your current plan. Concentrate on modifying your business to accommodate the needs of today’s current consumer. Not the consumer that could acquire your product or service before with cash or credit, but the ones now that are without work, homeless, or on the verge of foreclosure. One thing that you can count on is that the value of your product or service will not change just because consumers cannot afford to pay cash for it. You may want to consider a means of offering that product or service, for equal value for the things you need to get through these tough times yourself. You might want to consider organized barter trade!