I've just read Rebecca's latest email and it worried me. Is there going to be another Dot Com crash? What's going to survive? How will we market our books in the future? I've copied and pasted the article from her email below.
'The Dot Com Crash I predicted in What's Working Now magazine is on its way. Here are some things you need to know ...
- Anyone who told you recessions don't happen online was lying to you. The online economy works just the same as any othereconomy. It has cycles.
- None of your online gurus have warned you about this, because they don't KNOW this. Most of the 'veterans' of online marketing have only been marketing online since the mid 2000s ... WAY after the last Dot Com Crash. The only people you know who can help you navigate this WHEN it happens are people who ran successful businesses online before 2000, and who were still running successful online businesses in 2001. Everyone else either doesn't have the experience to guide you, or they failed.
- I was running a successful internet marketing business in 1999, and was still running successful online businesses after the crash. In fact, I helped start another online business after the crash that became the top business in its niche.
Below is a graphic of what happened yesterday with tech stocks. So what has this got to do with you? Tech stocks? You know.... Facebook, Amazon, Google ... If you market anything online this is relevant. If you're an author, this is relevant. If you're building a business based on getting Facebook leads, this is freaking CRUCIAL to understand. Facebook could go. Vanish. Cease to be. It happened to companies that were - relative to the numbers online - more significant than Facebook in the last crash.
When? Any time. Last time it took about 10 days to go from this to a slippery slope, and a couple of moths to crash completely. This time it'll probably take longer because the industry has so much more social proof behind it... but it'll crash. The feeling before the last crash was exactly as the feeling has been online over the last year.
THIS is why I've been SCREAMING for ethics and stable business principles.
THIS is why I only work with companies that I know have the specific backgrounds that make them far more likely to be resilient in a crash than others.
THIS is why I coach my clients the way I do. I don't care if they have shiny object syndrome. I don't care if they stamp their feet and demand the latest toy. I teach them how to run RESILIENT businesses, and how to build their BRANDS in such a way that they will stand tall when everything else falls.
If Facebook went away tomorrow, do you think people would still open my emails? Yes.
Do you think they'd still answer the phone? Yes.
Do you think I'd still get paid? Yes.
So would many people online - temporarily - if they'd taken the time to build a brand. But after that, things would change. The people who actually KNOW what they're doing in the new normal will thrive. I've done this once. I know exactly how much things change on the flip side of what we're experiencing today.
My clients and team members are safe. We'll be standing tall when the gurus who showed up after the crash fail to know what to do, and fall. Which group will you be in when the time comes?
Rebecca.'
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