A good business for bad times...
 

We're living in some pretty stressful times...

With stresses related to infectious disease, inflation, broken supply chains, war...

In times like these, people feel very uncertain about things...

So... the future "prediction" business tends to do well...

These can range from analytical and trends-based predictions... to the more "mystical" kind...

...but the real "product" people are wanting is... certainty...



Just thought I'd throw that out there!

Best wishes,

Dien

Every generation has its seer.
 

MegaTrends. John Naisbitt made a fortune.

Futurist Faith Pocporn, another fortune made. $566,000 paid by US Postal Service to see their future. True.

MODERN day Nostradmus types still exist, hauling down some nifty nickels and dimes and some very shiny silver dollars too.

Robin Hanson, which you probably know and like Dien.

And scores of other futurists, now AI and data based and a whole mainstream of predictable future outcomes...and this doesn't even

scratch the surface of Astrologers, Psychics, Alien mind downloads...

And lets not forget HOLLYWOOD, a long time user of futurists work to scare the bejeebers out of us. Some even think HOLLYWOOD movies are being used to prep us for coming future events.

Now, why I don't do the stock market is a mystery (well, I don't liked rigged games, even if I win).

But you are right, wanting to know the future, with some degree of certainty, is comforting for millions of folks.

As a long time futurist, and here alone are 20+ years of future predictions, with an amazing 99.8% accuracy...it won't be long until the USPS knocks on my door to have me tell them their future....

is pretty dim.

That will be half a mil please USPS.

Thanks Dien.

Gordon

Re: A good business for bad times...
 

Hi Dien,

Been a while since I have been to SOWPub. Looks like I am missing the fun stuff. Right now I am in the middle of a course in Astrological Magic. Basically learning to make talismans using astrology techniques from the Renaissance.

Then after that I will get up to speed on horary astrology for asking specific questions and getting specific answers with astrology. Finding solid financial astrology resources is tricky but another interesting area to explore, too. The people using it successfully don't appear to talk much publicly.

Figured it would be a good little side business for the touristy community we are moving to in the near future as well as online. I see a very long period of uncertainty and severely eroding faith in trusted institutions ahead. These kinds of services appear to be all the more interesting to people in such times.

Strap on your woo belt. The ride ahead is gonna be weird for a lot of folks.

Eric

Re: A good business for bad times...
 

Hi Eric,

All I can say here is... Ben Suarez was a computer programmer, and started out by trying to sell a book of computerized tables to help people calculate compound interest. (This was before pocket calculators were widely available...)

It was a huge flop...

Then he started working with Gary Halbert, and they started selling computerized astrological horoscopes...

It was his first success...

The bottom line is... you can only succeed when you give the market what it really wants... That's the undeniable fact about business...

Thanks for sharing, Eric!

Best wishes, :)

Dien

Re: Every generation has its seer.
 

Elon Musk is a "futurist" in a different way...

He makes predictions of what HIS company will do... which often sound outlandish...

But... he makes at least some of them happen... And gets dang rich in the process (because everyone then buys his stock)...

I think he's taken future forecasting to a degree no other entrepreneur has, to my knowledge... (As opposed to the "professional" forecasters, who just forecast, but don't try to create...)

Best wishes,

Dien

Re: A good business for bad times...
 

Business uncertainty refers to situations in which businesses face risks that can’t be foreseen or measured. During these times, it may be hard for businesses to predict their performance due to unprecedented or constantly changing events. Changes in the political, technological, economic, and environmental landscape — such as technological advances, data breaches, natural disasters, or new business regulations — can cause business uncertainty. For example, due to unforeseen upheavals in the economy and industries created by COVID-19, 2020 was a particularly tough year for firms to manage.
Though pandemics are rare, businesses, particularly startups, have always had to deal with unpredictability. Even when the economy is stable, startups face financial instability since they have yet to define their business model.
I was going to start my business but not I am not sure whether it is proper time. Especially with continuing war in Ukraine...

Re: A good business for bad times...
 

The proper time to start a business is right after you have fleshed out the market, KNOW there is a demand, and have a plan to get to those people who want what you offer.

Uncertainty, becomes a reason for procrastination, an unnecessary one.

Does your business idea have a ready to buy market?
Do you have a plan to intersect with them?
Do you have a promotion ready?

Yes to the above, it is a good time to start your business.

Gordon

Many very successful businesses were started during "bad times"...
 

Hi Deuxter,

Many very successful businesses were started during "bad times"...

One of the benefits of "bad times" is... you have less competition! Then, when more competition does jump in, you have a big head start!

If you seach online for businesses that were started during economic downturns... You'll find some surprisingly big names... Like IBM, FedEx, AirBnB, and others...

Best wishes,

Dien

Re: A good business for bad times...
 

Thank you for support! I almost decided that in spite of everything - I am ready to run my own company. I was learning the market for some period and I have few ideas how to have success right after start. First steps I should make - registration of LLC - I find out that nowadays I can make that online without wasting any of precious time. Also I have already found a good place for my small shop in Missouri. And me and my wife have a brand name and logo.

Re: A good business for bad times...
 

My wife is producing homemade jams, confiture, marmalade, pastille, natural butter and we are going to spread her assortment and for all this we need a place we she can work and sell her goods. So the first our step was business research and business plan, then we found the real estate and now we register an LLC here https://bestllcservices.co/start-an-llc-in-missouri/. It took few minutes and after few days everything is ready. Now we are thinking over the final design for our shop. If you visit Rocheport, MO - you are welcome to visit our place which will be opened in few weeks I hope.