photo credit: Arturo de Albornoz

October 7th, 2008 Dow Jones took a dive by a whopping 508 points. Over the past three months global markets were hit by an $8.1 trillion loss in value. Banks fail one after another, panic in the Wall Street… That’s what already came to be known as the biggest economy meltdown since the Great Depression.

The helter-skelter of the stock-exchange swiftly resonates everywhere. With media fuelling the buzz you need to have a steel nerve or live deep in the forest not to be concerned with the crisis thing. The home-grown economic prophets loudly predict ‘the end of the world as we know it’.
The last thing you’d want to do in times like that is start a business, right? – Not quite.
Great Depression Creates Great Opportunities

History knows a lot of cases when economic meltdowns created opportunities for new ventures and bold startups as well as remarkably profitable marketing investments. The Great Depression turned out the golden ticket for hundreds of businesses. Disney, Procter & Gamble, Camel and Chevrolet, to name a few, were among the companies that bloomed and thrived while others were desperately fighting for survival. They saw an opportunity and seized the moment. They were advertising when others cut down marketing budgets. They offered new products when others thought no one could afford to buy. They stayed calm in the across-the-board market mess and they ended up outstandingly victorious.

What does it have to do with you? Everything. The ongoing crisis is your chance to start a new venture, grow your business and make money even when the economy seems to go wild. And the best place to do this is online. Against the background of economic downturn the prospects of the Internet market look especially promising.

Why Online Business is Recession-Proof

Although the cyberspace is tightly tied to the real-world economy, the negative market trends seem to turn out the positive way online. Both retail customers and investors seeking ways to safeguard their capitals end-up putting their money online. Here’s the proof that Internet market is here to stay no matter what goes on offline.

* Shoppers go online

In every recession it is the low-to-middle class who take the biggest blow. When big companies go bankrupt it is the regular workers who suffer most. Off course CEOs and investors lose monstrous sums but at least they don’t have to worry about how to feed the family.

In times like that people do their best to tighten the belts and cut the expenses. We go hunting for bargains and the first place to look at is the Internet. The reasons are obvious: you can compare prices without leaving the house; you don’t have to waste time and money on the gas running around the shops and you can really buy cheaper over the Internet.

Offer the best price and people will buy. Make a discount on something they could do without but would rather own, and people will buy. What’s even more important, even after the economy goes stable, your customers will stick with you. Read on to learn how to pick the right product and get a discount for it.

* Companies Invest in Online Advertising

However slow the economy is a business needs to invest into advertising if it wants to stay afloat. Under the tight budget ROI (Return on Investment) becomes the focal point. The Internet offers lots of measuring instruments other media lack. Computer technology allows tracking the money you earn from each banner or text ad up to the last cent. Therefore businesses cut down or completely abandon the press, and TV, but they’ll never give up on SEO, contextual or banner ads.

Outsell Inc., The Interactive Advertising Bureau (IAB), IDC and other research agencies all report Internet advertising growing at a galloping tempo (18.2% for the first quarter this year) while print, TV and outdoor ads lose their share of the market.

IAB reported that advertisers invested $5.8 billion in Q1 2008. Part of that money could be yours.

With marketing budgets zipped up businesses seek every opportunity to advertise online. If you have a website or blog with some traffic companies will line up to pay you for advertising. If you don’t have any, it’s very much the time to start one. Read on to learn how to create a successful advertising platform and promote it in the search engines.

Selling ads space is just one of the many ways to make money online. There are many more such as paid subscriptions, affiliate marketing, review posting, sponsored directory listings, etc. They all create great opportunities to start an online business. And of course, you don’t need to put all eggs in one basket. You can combine various online marketing techniques into a powerful money making blend that would be 100% recession proof, no matter what goes on across Wall Street.
Here’s a Step-By-Step Guide To Starting an Online Business

What does starting a business start with? Naturally before you start selling something you need to decide what that something will be. So your first step is

1. Choosing a Product to Sell

A product to sell is not necessarily a ‘product’ as such. It could be a paid subscription or a service and you don’t even have to ‘sell’ it directly. You just need to offer something of interest: information or functionality that will drive visitors to your website and will make them wanna stay and come back. Get traffic and you’ll have tons of ways to transform it into cash.

There are a number of things people are most interested in now. Here’s a list of

What’s Hot in Cold Economy:

* Information

People’s desire to know what’s going on doesn’t cease in bad times. Moreover, the worse it gets the bigger their interest. The ‘hottest’ right now is financial information.

According to comScore Media Metrix the number if visitors to finance-related websites jumped 30% this year. European websites skyrocketed to record peaks of up to 141% in traffic growth.

Start a blog or website about anything in the finances from the market trends to personal investments and loans, promote it in the search engines and you’ll see tons of traffic you can convert into money. Read on to learn how.

* Stress-Relief

During the Great Depression people went to the movies to relieve the stress and forget about their problems. Nothing has changed over time except for the movies. The general trend is when bad things happen people still pay for entertainment even though it’s getting harder to afford.

* Discounts

With economy staggering and stock exchange falling down the bills still remain the same. And bills are to be paid. Naturally we want to save on everything. If you know how to show us the way to a good bargain we’ll stick with you. And bargains are plentiful on the Internet. You just need to take the time to find them and gather in one place.

* Surviving the Crisis Guides

When it comes to our wallets we get emotional. When it comes to our wallets getting thinner we get extremely emotional and even start to panic. Surviving the financial crisis is a hot topic right now. Therefore if you read this article to the end you’ll get a double benefit:

* You’ll secure a sustainable income for yourself and your family.

* You’ll be able to help others do the same.

Moreover you’ll have an undeniable proof of your paycheck to show people the way, and they will follow. This will bring you not only money but also self-satisfaction of doing a good thing.

The list is just a small fraction of the niches you can take up with your business. Explore the web for a while and you’ll get tons of other ideas to choose from.

Once you’ve picked your product(s) you can get down to launching a website.

2. Going Online

Depending on the focus of your online business you need to decide whether you will use a website, a blog or both. Blogs are easier to start and maintain. If you decide to focus your marketing efforts around information this is your best choice to go. You can set up a free blog at WordPress.Com or Blogger.com

Websites offer more functionality but may take up more time and skills to manage. You can hire professionals to have a website set up for you. In the slow economy the quotes should get very affordable. You can also explore the free options for there are plenty out there. There are even ones that will get your website up and running in about 5 clicks.

Google ‘free websites’ and you’ll get one before you can say ‘How do I make a website?’.

3. Getting Traffic

A website without traffic is a dead one though. Visitors are the blood of your website that gets its heart beating. So your first and foremost concern now is to attract traffic to your website. The only most effective way to do it is promote your website in search engines.

According to Pew Internet 84% of internet surfers use search engines. About 68 million Americans will use the search engines tomorrow. If your website appears at the top of search results a large portion of this traffic will come to you bringing you money.

Now the question is how do you get your website to the top of search engines? The answer is by optimizing it for natural search. The process is called Search Engine Optimization or SEO for short. Even if you hear the term for the first time, it won’t take you long to figure out what it’s all about.

There are a lot of do-it-yourself SEO guides out there. However they all seem to miss the most important point. It’s actually doing SEO not just reading about it what drives your website up in search engine rankings and earns you money. Good news is that there’s one SEO Book that tells you the exact things to do in a way that let’s you get right down to doing them. The e-book is called SEO in Practice. It is the ultimate guide that will help you get your website to the top of search engine rankings in a matter of weeks.

One of the great things about SEO is that it gets you traffic (read customers) free of charge. No fees, no bills. You do everything yourself and you reap the benefits of what you’ve sown. However, when doing SEO you’ll most likely stumble upon the same problem all SEOs do: There’s just not enough hours in the day to do everything by hand. The way out I found for myself is automating some of the SEO tasks with special SEO software.

There are a lot of tools out there. I personally use SEO Software by Link-Assistant.Com (I’ve put a link to their website under the article). It has all the functionality I need and I like it. But you can use any software (just make sure it’s good quality) or no software at all. You can go and search around for free SEO tools. They are usually of limited functionality as compared to the paid versions, but can still be helpful.

4. Earning Money

After you’ve read and followed the tips outlined in the SEO Book you’ll see a sustainable stream of traffic coming to your website. This is great but we’re looking to make money not just traffic, right? There are many ways to monetize your website traffic, some of the most popular and effective are:

* Advertising

People pay you to put up a banner or text links on your website. The more traffic you have the more you can charge. Search around to see what the general pricing is and test several pricing options to see which suits your prospects best.

* Affiliate Marketing

I had been earning a good living from affiliate programs for several years before I completely jumped into the SEO services. The system is dead simple. You help businesses sell their products and earn a percentage of every sale. To achieve the best you need to pick a product you believe in (preferably the one you own and use). This way you’ll be speaking confidently and with authority and people will buy from you.

* Paid Subscriptions

If you deliver quality info or analysis that is unique and is of value to your visitors you can offer paid subscriptions. The subscription can grant more info, earlier delivery or whatever bonuses you can think of.

As your online business gains momentum you’ll find yourself living a new life. The one that is stress-free, recession proof and incredibly enjoyable. And what’s more important you’ll be living your whole life for yourself. No one can fire you; no one can cut down your pay. You’re an independent entrepreneur and it’s up to you when you come to work and when you leave. Your paycheck solely depends on you.

Please note, this is not a get-rich-quick kinda trash. You’ll have to work first and most likely work hard. Not too hard perhaps, but hard enough. This is how it is and I strongly believe this is exactly as it should be. First you work for your business, then your business works for you. Invest into your future now and you’ll be able to reap the benefits later. Do nothing and nothing will happen.

What are the Risks?

The word venture itself contains a pinch of risk attached to it. Starting a business certainly has its risks. But the world is like this:

“Sometimes you do something, and you get screwed. Sometimes it’s the things you don’t do and you get screwed.” – Fight Club

You start a business and you may fail, and then start another one and still another one until you succeed. But if you don’t try you never succeed. You may sit and wait for the economy meltdown to hit you in the pocket or for the company you’re working for to go under. These are also the risks we take by just living in this world. And compared to them the risks of starting an online business are nothing. In fact all you invest is your time and effort.

You can start securing your future right now. Work for you business an hour a day at first, than more until you can finally go your own way.
So Why Financial Crisis is a Good Thing

Slow economy is sort of a market janitor. It gets rid of the mismanaged thrash and gives way to new players with fresh ideas and innovative approaches. The big and weak go under and the apt take over their place. This is your chance to change your life once and for good. Go pick your product -> set up a website -> promote it in search engines -> and earn the living you’ve always wanted to.

SEO software

Jon Sparks is a freelance SEO and marketing expert. Having quit his 9-to-5 job years ago he made up his mind to help you do the same and start living your life entirely to yourself.

photo credit: Mulad

Staying afloat during an economic downturn is difficult, but it’s not impossible. Starting with the Great Depression, including the ten economic downturns since the National Bureau of Economic Research shows our economic slumps have been cyclic. The last five downturns have been shorter in duration than their predecessors. But speculate as they may, no one can predict when the economy will rebound. What you can be certain is that it will. Can you hold on? Will you be ready for the upswing?

Businesses, old and new, have not only succeeded during a downturn, they have come out of downturns much stronger.

How did businesses do it? Simple, they maintained good marketing programs, projected stability, provided quality products and services, knew their customers and how the downturn affected them and managed expenses. These companies created business stability and staying power until the economy turned upward again.

Marketing during economic downturns is a must for your business stability and ongoing success. But it has to be done sensibly, with a plan. You have to measure and manage your results, control your expenditures, monetize and market your web site. This does not have to be expensive.

What can you accomplish during a downturn?

- Win business from weak or failing competitors.
- Make stronger market in roads.
- Show market strength and staying power.
- Position your business to be ready for the upturn as soon as it starts. Waiting till the upturn starts may be too late.

What to do:

- Upgrade and monetize your web site. This is the cheapest source for increased revenue.
- Don’t lower prices, add value.
- Control your advertising campaigns. Don’t stop advertising just advertise smarter.
- Advertise where you can measure results. Know the numbers. Measure your ROI.
- Take care of employees and current customers. Your biggest assets. Monitor their reactions and needs.
- Go the extra mile with customer services and support.
- Reduce expenses and conserve cash but do it with a plan.
- Review and revise your business plan to match current economic conditions. Have a contingency plan.
- Diversify and share expenses through Strategic Alliances.

During tough times difficult decisions have to be made that can significantly increase your stress level. It is important to recognize this. Monitor your stress and don’t overreact. High stress levels tend to lead to making bad decisions.

Most importantly, stay positive because better times will come. History proves it.

For more information on succeeding in a down time visit http://www.bizstrategies.biz/economy-planning.html

Biz Strategies, Inc. provides online business consulting for developing business strategies; including business development plans, writing business plans, business funding, web site strategies and marketing programs. Their coaches draw on anywhere from 20-40 years of experience to prepare their clients’ for a whole new ball game.

Learn more at http://www.bizstrategies.biz

photo credit: stevendepolo

Crisis Or Opportunity?

While the financial crisis is real, what it represents is up to you. The Chinese symbol for “crisis” is said to be made up of two individual characters which mean, in broad terms, “danger” and “opportunity”.

You can decide how you will respond to the current climate. Will you adopt a poverty consciousness and cut back to survive? Or, will you see the current state of play in the global economy as an opportunity to foster your entrepreneurial skills and build more prosperity?

The transferral of wealth currently taking place means there has never been a better time to launch a business in a market you identify as growing already or is predicted to grow into the future. The current climate represents the perfect storm of opportunity. However, it is up to you to decide whether you will capitalise on the market conditions. More millionaires were made out of the Great Depression than ever before.

If you believe the conditions represent all threat and no opportunity, you are right. If you believe they can assist you in creating wealth and prosperity, you are are also correct. As Warren Buffet put it, “Be fearful when others and greedy, and greedy when others are fearful.”

Take responsibility, set down your goals, identify opportunity and take confident action.

Survival Tip 1 : Take Responsibility

Accept that you are where you are because of decisions you have made. Sure, others may have had an influence and you may see circumstance as playing a role, but now is the time to acknowledge that you need to find a way forward. While you are thinking this through, remember – if you keep doing what you’ve been doing, you will keep getting what you’ve been getting. This is a time for creative thinking and practical steps. It is not someone else’s job to ‘rescue you’. For the longest time, I didn’t understand this (and many people fail to ever grasp this concept) your financial future is in your hands. Don’t out source it – it can be great fun creating wealth and freedom, but you must take responsibility.

Survival Tip 2: Set Your Goals

What needs to change? Where will you be in a month, six months, a year? When was the last time you thought about what you used to want for your life? Is that the life your are living? Or, is there something better out there for you? Do you need to pay off your debt? Or are you brave enough to think beyond this? Do you aspire to financial security? What are your goals? Think about this carefully, you get what you focus on.

Survival Tip 3: Identify Opportunity

There are a number of courses of action available to you.

* Start Saving : Cut down on every luxury you can and make it a game. There are loads of suggestions available on the internet about how to save and live well. In the early stages, this might work. But, remember, having a ‘poverty consciousness’ will keep you poor. The best approach is to couple some sensible spending with investment in opportunities that will provide further income.
* Work Harder : Think this through, will longer hours generate more wealth or just longer hours? While you are at it, ask yourself whether you have an ‘employee’ mentality or an ‘entrepreneur’s’ mindset. There is a big difference. If you believe that your only course is to work for someone else, then that’s the path you will choose. If, however, you can shift your beliefs just a little, you might find an entrepreneur buried in there just dying to get out. Will working harder enable you to achieve the goals you have set down above?
* Work Smarter : There are hundreds of big and small opportunities out there to start creating wealth. Start seeking out and exploring opportunities. You should be aiming to create three to four income streams. Some, preferably all, of these will be passive or residual income opportunities. This might include anything from marketing someone else’s product on line through to share trading and property investment. Be judicious and do your homework. Starting as a click bank marketer can quickly lead to beginning your own business in a field that is growing. Follow not just your passion but growth patterns and strong evidence of market size and predicted growth. Again, will these opportunities (or a collection of them) provide sufficient wealth to realise your goals?

Survival Tip 4 : Take Action

Hemingway tells us, ‘Never mistake motion for action’. Things will not change for you unless you change your choices. This is not an exercise in positive thinking – although your beliefs will most certainly drive your actions – this is an exercise in behavioural change. You need to be ‘being’ different by making different choices, then you need to be ‘doing’ things differently to have different results. One of the most powerful methods for this is developing a daily practice. Assess your daily activities against your short, medium and long term goals. If your activities aren’t supporting the direction in which you have decided you want to go, then why are you spending time on them? If your activities aren’t generating health, wealth or happiness, reassess and recalibrate.

Elizabeth Siebert is a Master of Economics, international policy adviser, writer and entrepreneur. She is Director of Extraordinary Life Enterprises, a company that assists people all over the world to change their behaviour to create wealth and freedom.