You’ve probably noticed the marketplace has gone bonkers lately.
Baby Boomers retiring in droves, combined with stifled immigration, has led to a significant labor shortage across a wide range of disciplines.
The result is a workplace dynamic not seen in many years.
This shortage has led to the Army giving waivers for marijuana, accepting poor-quality soldiers so that recruitment targets are hit.
And employers have begun lowering job qualifications to expand their labor pool.
It’s even impacting real estate, where less effort is needed today to sell almost anything you’d call home.
Examining my RB neighborhood, no less than a dozen houses are on the market today, popping up like mushrooms after a rainstorm…and selling just as fast.
One fellow on my block probably won’t list for weeks, hasn’t even painted the place, and is already getting interest. His 2 bedroom house with private backyard is considered a steal at $650,000.
Being able to sell something for more today than you did yesterday is very enticing. Yet, like a Ponzi scheme, it relies on getting unlimited interest in whatever you’re marketing. Such a market mentality must ultimately collapse.
Meaning regardless of what you sell, you need to focus on today’s reality while planning for tomorrow’s eventuality.
My sources tell me this party will end within the next year or so. This explains the businesses owners now building infrastructure (marketing plans, newsletters, web sites, sales funnels, etc.) in recognition of Sir Isaac Newton’s theory “Whatever goes up must come down.”
Even as you’re reaping the benefits from this hot economy, plan to carefully examine your marketing efforts to ensure you’re regularly talking to customers, prospects, and influencers to get word out about who you are, why you’re different, and why you matter.
Ask for referrals, and make sure satisfied customer testimonials are posted on Google, Facebook, and other major review sources, as well as on your company’s web site.
Finally, examine what you’re selling and consider expanding your offerings. Do it now, while your strong position lets you experiment and counter any potential shortcomings.
When the mud eventually hits the fan, you’ll be a known quantity and be able to weather the storm.
One day customers will return to the driver’s seat. Smart executives are planning for it now.
With that said, I wish you a week of profitable marketing.