Future Proofing Your Business from Economic Upheaval

<p><span style="font-weight: 400;">What happens to your business when the economy tanks?</span></p> <p><span style="font-weight: 400;">It depends which part of the market you serve.</span></p> <p><span style="font-weight: 400;">The impacts are not equal.</span></p> <p><strong>Avoid the middle:</strong></p> <p><span style="font-weight: 400;">The middle is the worst place to be in any market and doubly so when it tanks. </span></p> <p><span style="font-weight: 400;">Entrepreneurs targeting the middle find themselves unable to compete with the bottom on price or selection, or with the top on style, status, or service. </span></p> <p><span style="font-weight: 400;">They have no unique selling proposition to take to anyone.</span></p> <p><strong>The bottom is treacherous:</strong></p> <p><span style="font-weight: 400;">All the wars are waged at the bottom.</span></p> <p><span style="font-weight: 400;">Buying rarely drops more than 5% to 10%, because the poor spend 90% of their money on necessities. Necessities somehow always get bought. But the profit margin goes away, as merchants battle over these consumers' shrunken spending power with price cutting as the only weapon.</span></p> <p><strong>The sanctuary of the Top</strong></p> <p><span style="font-weight: 400;">At the top, buying also drops by 5% to 10% because they only spend a tiny percentage of their money on necessities. Economic movements such as Inflation is not important to the wealthy, they continue to buy not just necessities but whatever the devil they want, regardless. </span></p> <p><span style="font-weight: 400;">Best yet for the merchants’ profit margins don't have to erode.</span></p> <p><strong>Then there is the Uber Top.</strong></p> <p><span style="font-weight: 400;">Sales of big yachts, custom made shoes, designer-name wristwatches, corporate hospitality and the like increase, when the economy upheaves. All such businesses serving this niche do very nicely despite the turmoil. Some can even afford to travel private into space.</span></p> <p><str