Does it really affect our online business?

16 years ago

Stop worrying and start planning.

People will keep buying - but will buy more necessities and make fewer impulse purchases.

The sales on luxury cruises may be down - but the sales of "bargain family vacations" may be up. "Personalized bracelet charms" may be down but "low cost medicinal copper bracelets for pain" could increase. Designer dog collars could dry up yet lowest price flea prevention could be steady.

I think the key to surviving and profiting in a bad economy is careful research of your market to identify WHERE people are still spending their money.

kay

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Aldian Prakoso 16 years ago

Originally Posted by Kay King

I think the key to surviving and profiting in a bad economy is careful research of your market to identify WHERE people are still spending their money.

How to save money should be a good market
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Aldian Prakoso 16 years ago

Originally Posted by Kay King

I think the key to surviving and profiting in a bad economy is careful research of your market to identify WHERE people are still spending their money.

How to save money should be a good market
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moreonlife

16 years ago

Originally Posted by Kay King

Stop worrying and start planning.

People will keep buying - but will buy more necessities and make fewer impulse purchases.

The sales on luxury cruises may be down - but the sales of "bargain family vacations" may be up. "Personalized bracelet charms" may be down but "low cost medicinal copper bracelets for pain" could increase. Designer dog collars could dry up yet lowest price flea prevention could be steady.

I think the key to surviving and profiting in a bad economy is careful research of your market to identify WHERE people are still spending their money.

kay

Wow! that's really opening my eyes again. Thanks to all for your great advices. I will start thinking different now and target different market.

Syed

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naruq 16 years ago

Don't focus on the daily economic developments. Develop a success and prosperity mindset!
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Fendi Salim

16 years ago

Well depends if you see it as a problem..

Those in the home business, network marketing, paid surveys niches surely see this as a great opportunity as more and more people seek different ways to make money from the downturn...

Problems are opportunities for others.

Let's take a look at the bad weather for example hurricanes etc (sad sad news really - hope anyone affected here are ok)

Now that's a huge problem for most businesses, but builders get opportunities once good weather returns and real estate investors would snap up cheap buys in terribly affected areas.

Time to expand our thinking.

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Gary Lax

16 years ago

Ever tried MLM? In each catastrophe lies a thinly disguised opportunity.

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Michael Oksa 16 years ago

Originally Posted by Gary Lax

Ever tried MLM? In each catastrophe lies a thinly disguised opportunity.

MLM being the catastrophe. I hope. MLM is about the worse thing you can sink your money into.

Kay's advice is sound. There is always a market for something.

~Michael
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Gary Lax

16 years ago

I don't think anybody dismissed Kay's advice. The only bad thing about MLM is that people jump on en masse during economical catastrophes. Which still, is a good thing for MLM. People are "trendy" you see. Kay signified the importance of market research -and- I cut thru the slack and suggested a highly prolific market that's thriving during economic meltdowns.

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Michael Oksa

16 years ago

Originally Posted by Gary Lax

I don't think anybody dismissed Kay's advice. The only bad thing about MLM is that people jump on en masse during economical catastrophes. Which still, is a good thing for MLM. People are "trendy" you see. Kay signified the importance of market research -and- I cut thru the slack and suggested a highly prolific market that's thriving during economic meltdowns.

No problem Gary, sorry if I implied anyone was dismissing Kay's advice. That was not my intent.

You said "The only bad thing about MLM..." like there was only one bad thing.

Being prolific doesn't make anything viable.

You are right that it is good for the MLM companies, but most of the the common people doing it get screwed, get screwed hard, and pay the price for a long time to come.

Sorry to go off on this tangent, but I do my best to keep people from getting involved in something they do not fully understand.

~Michael

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smisen

16 years ago

There are some niches that will always have demand, no matter what's going on with the economy. Weddings are one example, because people are always going to be getting married, regardless of the economic climate. However, within the wedding niche, it might make sense to start moving towards budget wedding ideas than luxury wedding packages.

There are a lot of failing niches that could benefit from a little nudge in a different direction. With the niches you're working in that are slowing down, is it possible to shift your focus slightly or change your sales pitch to target people affected by the economy?

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Gary Lax

16 years ago

Same goes with business start-ups Michael. Do your best to let people flourish whatever they do. Some are natural born networkers, some talented writers. Two things can't always be equal. MLM is the most deliberate concept of capitalism where common people can leverage relationship building to an abundant level.

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SpicyRobby

16 years ago

Originally Posted by moreonlife

- Are they comfortable to take out their credit card from wallet and pay?
- Are they tends toward free information than pay for it?
.

I think one thing is well worth looking at.

Most of here are INFO product sellers. Yeah, when the economy is hit hard, there are still many markets people spend their money in, but the question stands - HOW about INFO products?

You see, in the Eastern world - Eastern Europe, Russia etc countries you would hardly make anything by selling info products. Why? Because the first question there is - Where to GET it? instead of Where to BUY it?

You can download nearly anything for free these days on the Net - torrents and a whole lot of other places I even don't know about.

But I think this trend will grow in the coming years:

Bad economy = increase in pirated info product downloads etc.

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Michael Oksa

16 years ago

Two things can't always be equal. MLM is the most deliberate concept of capitalism where common people can leverage relationship building to an abundant level.

Yep, sounds like they are still saying the same kind of doublespeak. That doesn't even mean anything.

Don't get me wrong, I wish people well in all that they do, but at the same time I try to steer them in the right direction.

Just as I have told people that article marketing may not be for them, I also try to warn people about MLM. You know nothing about the first poster in this thread, but that's okay, because MLM can work for anybody, right?

To be fair, you did offer what you thought was a solution. And while I disagree, I did not offer anything constructive. Except to say that there was no reason to go into panic mode as people will always spend their money on something.

~Michael

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Chris Lockwood

16 years ago

I don't think the true luxury items are in trouble- more the mid-level stuff.

For example, $50,000 cruises around the world may still be selling, but the $5000 short ones may not. Same reason why Trump recently sold a mansion for $100 million.

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vorales 16 years ago

Well i guess yes the online business will also be affected as the money is less in the mkt and the fear of recession in the people's mind.

As so much complications in the Financial Market people are definately worried as what would be the Fed next step to re-vitilise the US and contrary the world economy.

For now people will only by the necessary things not on luxuries.
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- Michael Shook 16 years ago
  
  People will always want things, if you can be there standing in front of them holding out what they want, they will buy that from you.
  
  They still want things, especailly if someone tells them they might be able to get what they really want.
  
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Does it really affect our online business?

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