Michael Newman’s latest ‘e-Wealth Daily’ article is titled “Following the Big Spenders”. [‘e-Wealth Daily’ Article]


Michael Newman’s latest ‘e-Wealth Daily’ article:

Following the Big Spenders

As most of the country struggles with wage cutbacks, job losses and other impacts of a serious recession, there is still a slice of the population that still has money burning holes in their pockets — and lots of it. These people — successful business owners, entrepreneurs, executives and people who were simply born rich — still possess all kinds of spending power. The thing is, these people used to invest in areas like the stock and real estate markets, which are, however, not quite what they used to be. These days, the big spenders are looking for other places to put their money.

This is where you come in. In fact, if you’ve been thinking about starting a business, this could be the perfect time. By creating a product, service or other type of business that targets the big spenders in your area, you could be setting yourself up to tap into the only real money source that hasn’t dried up.

I recently read about an antique dealer in Houston who has seen a jump in business in recent months. Why? Because the people who were investing in stock and real estate are looking for investment opportunities that are less risky and more inclined to appreciate in value. They have been investing in things like antiques, art and furniture, which not only serve practical purposes, but financial ones as well.

Of course, to tap into this market, you don’t need to sell things that are necessarily investments of a tangible nature. Services that make people feel good about themselves are also a type of investment. Offering businesses that provide services like massages or dining or selling products that are exclusive that allow people to treat themselves to something special is also a good idea. After all, everyone needs to treat themselves from time to time.

The key is to really focus on a particular market. The reports show that the businesses that are doing well are honed in on the upper-tier of America’s wealthy. Basically, you’re looking at the super-rich. It’s been shown that many people with money have been shut out of these markets, because they don’t have the same comfort level in this economy and are therefore unable to spend as frivolously.

If you’ve got a great idea for a business that serves this market, you could be poised to tap into a consistent market that is willing to spend, even in weak economies.

e-Wealth Daily

About e-Wealth Daily

The e-Wealth Daily Bulletin brings you daily tips, advice and breaking news related to home businesses, small businesses and internet marketing. Our team of experts gives you the information you need to take your business pursuits to the most profitable level. Founded by Adrian Newman in 2003, the e-Wealth Daily Bulletin and www.ewealthdaily.com are a division of Lombardi Publishing with online newsletters reaching over 100,000 subscribers each month.

* IMNewsWatch would like to thank e-Wealth Daily for granting permission to reprint this article.

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