When CNN first started I wasted hundreds of hours glued to the TV, fascinated that I didn’t have to wait for the 6 o’clock news anymore. But I soon learned that the 24 hour news station made my life worse. You see, the only news that sells is bad news. So I was filling my mind with all the bad news of the world and worse, watching TV instead of working.
Now, I think our instant news system is making things worse. The whole nation is filled with pessimism. No, the news is not the only reason, but I suspect that it is a multiplier of our national discouragement. After writing my book about buying and selling used equipment, I’ve had people tell me that they are thinking about starting a business as soon as things get better.
But that is the wrong answer. Now is the time to start. The new used equipment dealer has lots of factors stacked on his side.
1) Buying Inventory Has Never Been Easier. Good used equipment is gathering dust on back lots and in warehouses across the country. Furthermore, many owners are desperate for cash. Creative financing, partial payments, or exclusive brokerage agreements can get you in control of millions of dollars worth of good inventory.
2) Other Parts of the World Continue to Grow. East Asia, Africa, China, and South America are all in a steady growth mode. They need construction equipment, water purification systems, plywood factories, generators and power plants, heavy trucks, and medical equipment. The new dealer can position himself to buy cheap and sell at a reduced price while still making an outstanding profit.
3) It Has Never Been Easier to Market to the Third World. The Internet Revolution is not just in the US. Villages in Africa, cities in the old Soviet Union, and even the islands of the South Pacific are all wired into the web. America is no longer the sole market for Internet ads. Using cheap translation services from India and China, the one-man dealership can have targeted ads running in several languages for less than a newspaper ad in New York City.
Remember, the battle does not always go to the strong. The new dealer can raise capital from Joint Venture deals, and market into the far corners of the globe easier than the giant dealerships who are not as flexible.
So start, recognizing that just because the news stations are moaning, there are new millionaires being made everyday, most of them from deals done outside the US. Good luck!
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