True Business never fails
Quick Answer: A recession-proof business is a true business: it listens to what people say they need and want, analyzes what it hears, and provides that at the right time, location and price. Most businesses react instead of listen, and end up conditioning people to want things they don't need, which always becomes an expensive proposition.
A Recession-Proof Business Starts With Listening
We live in really cool times. As I write this, we are about to enter a global recession; some are even predicting a depression. Many people are uncertain about the future and reacting to the situation. I am not. Why? Because I know that true business never fails.
B: So what is true business?
A: Are you ready for the secret?
B: Yes, I am.
A: I will tell you but you may not hear what I have to say. It's very simple so pay close attention.
B: Okay, I will.
A: True business listens to what people need and want and provides that.
B: Okay, but there must be more to it than that!
A: Yes there is but that's where it all begins.
There Really Is a Science to It
B: How can it be so simple?
A: Once you listen and find out what people say they need and want you will need to analyze your findings, customize your offerings to match what they are requesting, and all of this must be done at the right time, location and price. There really is a science to it.
B: Okay, so hold on, listening?! How can that be?! I mean, don't we listen to each other? Don't the businesses that I know listen to their customers? Otherwise, how could they still be in business?
A: We think we are listening to each other, but the reality is very different. We are not trained to listen to each other. In our research we have discovered that we are mostly trained to react. And, don't get me wrong, there are some businesses out there that listen, and those are very successful, but overall listening is missing.
B: I didn't think about it that way.
Your Small Town of People
A: Right. So let me ask you a different question. How many people do you know?
B: I'm not sure, about 1000.
A: And if you were to look at all of those people in your life, how many would you say have what's wanted and needed at all times? Including yourself?
B: Well, none of them. We always have more desires...
A: Right, but are they clear about their desires? Are they clear about what they truly want?
B: I am not really sure.
A: Exactly. So we don't know what's really needed and wanted for the people that we know, which is really like a small town if you think about it, so if you look at the world from this point of view you will see something very interesting.
B: What's that?
A: Well, simply multiply that same mindset to millions of people, businesses and even countries around the world and tell me what you see.
B: I see a lot of people not getting what they need and want because nobody is listening!
Businesses That Condition Instead of Listen
A: Exactly! So how does this relate to our current economic situation? If you examine what's happening, one of the reasons many businesses are reacting is that they are not operating as a business.
B: So what are they operating as?
A: My guess is they are more of a conditioning mechanism, which is something that conditions a group of people to think that they really need and want something but in reality they don't. This always becomes an expensive proposition.
B: So you mean, they don't really listen, they are pretending to listen, and force something on people?
A: Yes. Imagine trying to sell Gucci bags in the middle of the desert. You would have to spend a lot of money on promotion and advertising to make people think they need Gucci bags in the desert.
B: That's really amazing, because what's needed and wanted is water!
A: Yes, that's right! But, by finding out what's needed and wanted (in business this process is called Research & Development, by the way) you can invent whole new products, services and even companies! Looking from this point of view you will see that there aren't a lot of businesses out there, so your opportunity is remarkable!
Where to Start
B: But where do I start?
A: Start with the 1000 people that you already know. Find out from them what is needed and wanted and provide something to them. If you do it right, you will generate real value for your small town of people. You may be surprised at what you discover.
B: And if I get stuck?
A: Well, you can always call RSC Business Group and we'll coach you through the process.
B: Sounds great.
A: So, what do YOU want to do now?
B: Build a business that provides what's needed and wanted!
- True business listens to what people need and want, and provides that.
- Listening is only the start: analyze what you hear and deliver at the right time, location and price.
- We are mostly trained to react, not to listen, so listening is missing in most businesses.
- Businesses that condition people to want what they don't need face an expensive proposition.
- Start with the people you already know: find out what they need and want and provide it.
Frequently Asked Questions
What makes a business recession-proof?
In Robert's view, being a true business: listening to what people say they need and want and providing that at the right time, location and price. Businesses that react instead of listen are the ones that struggle.
Don't most businesses already listen to their customers?
Robert argues that most of us are trained to react rather than listen. Some businesses do listen, and those are very successful, but overall listening is missing.
What is a "conditioning mechanism"?
A business that conditions people to think they need something they don't, like selling Gucci bags in the desert. It takes a lot of promotion and advertising, and it becomes expensive.
Where should I start finding out what people need?
With the people you already know. Ask them what they need and want and provide something that meets it; you may be surprised at what you discover.