When the market goes up, we trade money for convenience. But what happens when the market goes wild? Carl shares in this episode of #70secondCEO.
Read full transcript:
Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.
The market, so three things happen at the same time, the market, the stock market, the Dow Jones industrial average, consumer confidence and buying preferences all kind of track the same way. If the market goes up, buyer preferences goes with it, consumer confidence goes up and people will exchange their money for convenience, so you wanna have a premium offering. Think like a restaurant for a second, a menu for every appetite and for every budget, that’s where you wanna be as a business right now. So on the way up we wanna trade our money for convenience that’s a premium offering. If the market’s going sideways meaning there was up there was down, there was up there was down, there, buyer’s get paralyzed and the way that you get them to consider a purchase is you have to offer something free or risk free. You watch late night TV, you can have this delivered to your home for 1.95 and after 30 days if you haven’t turned it back then will charge your card.
Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.