Introduction to the Marketing Lyfe Podcast Ep. 107
Episode one Oh seven of the marketing life podcast. This is Taylor Timothy, your host. And today guys, we’re in talking about how coven 19 will affect small business owners and freelancers. So obviously right now guys, everyone [inaudible] kind of going into lockdown and things like that are happening across the board. So I’m doing some research and this is kind of what, how I feel and so my thoughts and feelings on how this is going to affect these small business owners and freelancers. So let’s not waste any more time and dive right in.
Affects of Ads During Covid-19 Pandemic
First things first, um, with this coven 19 outbreak, um, just a little update on ads and what I’m seeing with ads, uh, basically as far as Facebook ads go, Google paid, ads go, I’m still seeing a lot of the same results. Now, the thing that’s obviously affected me thus far is some of my clients said, Hey, I don’t want to run ads right now, putting a slow down on some things. I’ve also had some clients say, Hey, let’s spend more money. So all in all, it’s just kind of balancing itself out. Um, as far as that goes.
If you guys think you need to stop spending money on ads, I would say don’t keep spending money. Um, fun fact, Coca-Cola during the great depression was the company that kept spending money on ads and look where they’re at now. I’m a believer, you don’t cut your ad budgets, you don’t cut your ad spend on things like that. A lot of times, yes, that’s the first thing to go, but I would recommend not making that the first thing to go.
After Covid-19 Predictions
Here are some of the things though that I’m on that I’m going to say that I believe will affect small business owners and stuff in the future. What are, what’s going to be the post of covert 19?
More Jobs For Freelancers
Honestly, I think it’s going to create more jobs for freelancers. I personally think what’s going to be happening with coven 19 is a lot of companies right now, a lot of people are working from home and they’re going to realize that they can leverage more freelancers because one, there’s less overhead now what do I mean by that?
1. No Overhead
There’s a difference between a w two employee and there’s a difference between a 10 99 employee, a w two employee. Obviously you’re paying their taxes and different things like that. A lot of times you have to provide them and you, you choose to provide them insurance and so on and so forth. Now, freelancer, they’re technically their own little business and you just write them a check and that’s it. You don’t have to provide them anything such as, um, um, as far as insurance goes and things like that, a lot of times with freelancers as well, if you decide to part ways, what also happens is they can’t file for unemployment.
If you fire this freelancer, they can’t file for unemployment because they’ve been 10 99. That’s what I mean by there’s going to be less overhead for them upfront. Also, they can downsize their office if they really want to and they can pay less in rent, they can start to cut back on some expenses if they go to freelancers and let people work from home. All in all, there’s less overhead. So that’s why I personally could see more freelance jobs becoming more available.
2. More Bang For Their Buck
Another thing is they’re going to realize that they might get a better bang for their buck. So I’m all about time and using your time wisely. A lot of times when people go into offices, they work from nine to five and nine o’clock when they get there, they talk for an hour with the, with their friend, then it’s 10 o’clock they work for two hours, they go to lunch, they work, they go to lunch for an hour, they come back from lunch, they work for a couple hours. Then maybe they take another hour break talking to their friend.
And my point to saying this is it’s less efficient. Again, business owners might realize that they’re going to get a better bang for their buck. If they can get someone that’s going to be a freelancer and just do the job that they are hired to do. It doesn’t matter if it takes two hours, three hours, five hours, however many hours, as long as they’re doing their job, they’re going to be happy.
All in all you’re, they might look at it and go, I might get better bang for my buck, hiring a freelancer at a certain retainer and not paying a full time employee to do what he’s supposed to be doing. And he’s not super efficient with his time. Again, like I said, it potentially could create more business for freelancers, um, and business owners as well if you have agencies and things like that.
Creates More Business
The next thing I want to talk about is potentially this could be creating more businesses. And what I mean by that, I mean people are sitting around right now and they have so much time on their plate. Obviously we haven’t seen this happened yet because obviously everything’s still in production, but it’s kind of my own opinion is potentially because of coven 19 we might have a business outbreak when things are done, a lot of people might be creating their businesses.
A lot of people who’ve been working nine to fives and realizing, you know what, maybe this is a sign for me to get out, get my business going and, and moving. We have obviously haven’t seen that happen yet because we’re still in it, but that’s just a personal belief that I have. All in all, I could see a lot of good things coming from this.
I personally think we’re in what I call a little slump and I think we’re going to get out of it and everything’s going to keep moving up. You know, obviously that’s something that I’m hoping for. Um, things were going good in my opinion.
Words of Wisdom
All in all guys, I want to share a quote with you. This is from my buddy Levi Lindsey. Uh, he’s the cofounder of vid army. He posted this on LinkedIn the other day and I just was like, this is fire. I want to share this with you guys because I also feel this way. You said there’s a huge lie going around and he said society wants you to believe you can’t live your dream, that you need to take the safe route. But look at what is happening with coven 19 people are losing their secure jobs. People are also losing their businesses. Bottom line, nothing in life is truly secure. You might as well live your dream. Start that business, go for that job, do that thing that scares you. Life is too short to not do what fulfills you.
Becoming a Freelancer and Business Owner is Secure
I challenge you guys to do that as well. The reason why this resignates with me a lot is sometimes you know, running your business, some days it’s like, Oh man, maybe it’d be easier to go work a nine to five, it’s more secure, et cetera. But in all honesty, after this is happening, I’m looking at it this way. Being a freelancer, being a business owner is more secure and mold long run. It might not seem like it is, but it is.
For example, if you manage five clients, what is the probability that you’re going to lose all five in the same exact month? The probability of that is very low. Now, a lot of times with nine to five jobs, the thing is you could lose that job and you might not get another job for an entire month, let’s say. What’s more secure? For me, I’m all about consistency. I personally think if you’re running your own business and you’re managing a few clients, the probability of losing all those clients all at the same time is very, very unlikely. I’m just feeling like owning your own business is more secure. At the end of the day, you are your own boss and you’re going to have more time.
Conclusion to the Marketing Lyfe Podcast Ep. 107
Thanks guys for listening to episode one Oh seven of the marketing life podcast. How cope in 19 will affect small business owners and freelancers. I hope you guys enjoyed this episode. Like I said, a lot of this is just opinion off of what I’m saying. What I think is going to come out of this.
Um, like I said, I could be wrong, but if you are looking to start your own business, you’re looking to, you know, get those things up and running while we are in the quarantine and whatnot with Toby in 19 go over and check out my online marketing master course. It’s going to teach you guys my entire process from start to finish. I guarantee you guys, after this whole pandemic is over, this stuff that’s on my course will still be relevant. Thanks guys for listening and peace.