When People Spend Money - this is concept #6
Get to know when people spend money, and it could mean a bigger income opportunity for you. Again, it may appear to be a subtlety, but it can be quite important for both personal and business reasons.
There are times when people are more apt to part with their money based on expectations of pleasure, satisfaction, reward, gratification, instilling hope, or avoiding guilt or punishment.
The end of the year is a good time to expect people to be more inclined to part with money. The end of the year typically sees people donating to charities to get write-offs on their taxes. They also hold holiday parties, buy gifts for friends and family, and they buy equipment and supplies for their businesses. Again, with the expectation of a write-off on their taxes.
The retail businesses know concept #6 of the money game very well. They do the overwhelming majority of their business in the last two months of the year.
In the professional services business, the fall of the year is known as "the selling season." Company budgets are being set for the following year, and organizations are often eager to get a few more projects lined up so all of their funds are committed, thus allowing them to request additional funding of a similar nature for the coming year.
Professional service providers know that this occurs, so they target specific sales efforts for "the selling season." The longer you're in business, the better you'll be aware when people spend money, and you can make use of that information.
Are you looking for a raise or a new job so you can make more money? There are some times that are better than others. Don't look for a raise right after your employers merges with another company. Instead, this is a better time to be looking for a layoff notice or a new job.
Call it "market timing" or whatever you please, but understand that there are times when people spend money, and times when they tighten up the purse strings. Get your timing right, and you'll be better off than others that don't know this rule of the money game.
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