Submitted by: Petersf Moore
I recall during a previous economic downturn in the late 1980s, discussing with my millionaire boss how bad things were and how many businesses were going bust. However, being a wise old owl he correctly pointed out there are just as many new businesses starting up as there were closing down.
When you think about it this is totally true, but why is it that no one ever releases stats on the number of new businesses that have recently launched and how many jobs they’ve created and only stats on the number of businesses that have recently failed and the number of people they have laid off – very depressing!
Economic downturns are not always bad news and believe it or not being laid off from your job can actually be a good thing. Trust me I’ve been there. Although it may seem horrific at the time and extremely frightening being suddenly short of cash, it can often lead to much better things and actually force you to get out of the ‘rut’ that you had been stuck in for years!
In fact losing your job can mean that you change careers for the better, start a new business, return to education or learn valuable new skills. It forces you to take action; releases your natural survival instinct; and means that you can no longer avoid changing your life for the better. No more “I don’t have the time” excuses as you now have all the time in the world.
I strongly believe that every cloud ‘does’ have a silver lining and as one door shuts another one opens. You do however have to make it happen and let’s face it no one is going to knock on your door with an amazing new business opportunity, or job of a lifetime.
I strongly believe that a bit of financial pressure can make you excel; re-kindle your brain cells and rejuvenate your creative side so you achieve more in a short space of time than you ever did before stuck in your boring old day job. Highly creative business leaders often survive deep recessions as the financial pressure makes them more competitive and ‘cut throat’.
In fact this economic downturn and the ability to survive it, is very different from the late 1980s. In fact it’s a lot easier to survive, but why? Well, simply because of the Internet and the diverse and global opportunity it has created to make money online selling anything to everyone – not all of whom I hasten to add are experiencing economic hardship and do have lots of spare cash.
There are obviously several ways to make money online. Selling ‘stuff’ on auction sites is the obvious first choice, mainly because there is ready made traffic, but the other way is to find a niche product or service and create your own website using a business website builder. It will take a bit longer to start trading, but once you are up and running you won’t have to pay fees to the auction site. This obviously means more cash for you.
Depending on your budget, it can also not take too long before you have a reasonable amount of traffic coming to your site, especially if you invest in highly focused pay per click advertising, using say Google Adwords. This needs to be closely managed though as you don’t want to blow your redundancy money!
If you’re currently experiencing bad times, as millions of people are – don’t despair. One thing is certain and that is that change happens – but you have to make it happen. The first thing to do is research what you want to sell. This could be a product, information, or even expert advice. You may have specialist knowledge that you can share with other people via a website and create a community of likeminded people.
Build the traffic up on this site and start earning income through affiliate marketing or charging people to join or advertise on your site. You could ‘white label’ a product or service with the support of an already successful online business and take a share of revenue.
There are many ways that you can do it, so get your thinking cap on and start researching online, but above all make it happen!
About the Author: Pete Moore is Co-Founder of award winning website builder,