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Be_a_PEST_Make_money
| Be a PEST. Make money.
Be a PEST. Make money.
Written by Aaron Colman info@ibasics.biz http://www.ibasics.biz
You can't help but turn on the TV these days and hear about some
new technology or development. Entire businesses are born and
die on the basis of a single trend.
Most small business have missed the crucial lesson of watching
trends.
Remember the following Acronym: PEST
1. Political. Never underestimate the power of politics to mess
up your business. Statistics show that the stock market
undergoes a reversal following a major Presidential election.
There's an entire investment strategy called "Presidential Cycle
Dollar Cost Averaging" based on following politics.
Think that's it? Think again. War effects the price of hundreds
of commodities. Trade agreements effect the buying power of our
money. Changes in laws effect everything from business creation
to new product development, marketing and everything in between.
2. Economic. If you had started buying dot.com stock short back
at the start of the fall a few years ago, you could've retired
early. Of course you can never predict these kind of dream
situations, but you can predict certain trends. A close friend
of mine lost his job as a programmer when it was shipped
overseas. Today he works as an "outsource re-integration
engineer" helping companies integrate and overcome the problems
of outsourced software. Shipping jobs overseas has become an
economic reality for many people. But a few smart people have
learned to take advantage of this situation to make money and
start a new business. The power of distributed work projects can
be seen on any freelance site you find. 3. Social. When people
get used to an idea, it becomes a powerful business model. It
takes nothing more than a quick glance in the newspaper to see
how some movies spawn an entire cottage industry. Even years
from now there will be a tremendous market for fan-based
creations based on hits like The Matrix and The Lord of the
Rings. How many times, in the last month, have you heard about
"low carb" diets? Think anyone is making money there? Oh yea.
4. Technology. Ignore technology at your own peril. Whether
it's legal or not technology will make you obsolete if you
ignore it. Take one look at the recording industry. They're
holding on for dear life... and it's getting worse and worse for
them as wireless broadband and smaller computers make sharing
files easier and easier. If you did a poll of teenagers today,
how many of them do you think would tell you that it was wrong
for them to share files? Percentage wise... not very many,
right? These are the same people that will be making the laws
for the next generation. Once a business model is obsolete, it's
dead. Horse and Buggy makers don't bring in a lot of money, but
automobiles are a multi-billion dollar industry.
Conclusion: Make it a point, from this day forward, the actively
stay on top of business developments. Read magazines, check out
news sites, and read articles like this. Always keeping in mind
the PEST method. By watching new trends you'll not only keep
your business from being blindsided by something new, you'll
also be able to stay on the profitable side of the cutting edge
without bleeding to death in the process.
------------------------------------------ Aaron Colman, helping
business make money online.
Web design, custom PHP scripts, MySQL databases and more.
Free e-Course: Mastering Internet Lead Generation
http://www.ibasics.biz/leads
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About the author:
Aaron has been doing this web stuff since '95 back in the days
of Gopher yore.
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