What's the Impact of Economic Crisis On Your Business?

14 years ago

Hi George,

I'm sorry to hear your business has suffered. It sucks when things go bad. I guess with every business there are fluctuations. I did experience a slight low in January this year, but in the last 6 months my business has kept growing and growing.

September was my biggest months ever with a 25% increase to the previous month. This month (October) is going to be even better.

I guess my business is evergreen which does help so I'm not complaining. One thing I like to add is that you should always put your eggs into several baskets and use multiple income streams to protect against this scenario.

I hope you can reclaim your foothold.

Monika

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Gerardas Norkus

14 years ago

Originally Posted by cyberchick

One thing I like to add is that you should always put your eggs into several baskets and use multiple income streams to protect against this scenario.

Monika

Thank you for your thoughts Monika.

Yes, you are absolutely right. We, internet marketers, should use multiple income streams for protection against the situations like this.

I work full time on the Internet and luckily I had some AdSense income that kept my business going after my main membership/CPA site was losing the profits.

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shaddai 14 years ago

Lost a granite & marble installation business with the mortgage market meltdown. Still packing $30k of debt from it too. Went to work for one company doing pressure washing....cleaned them out of work in a month...took off cleaning windows...ran them out of work in 2 months...got some side work as a millwright...worked for 2 days & heard nothing more... picked up some property maintenance stuff..guy got sick & finally told me he only had 1 day of work left anyway...

The economy is improving according to Baaaaroke Obama..got 3 kids, a wife, and a house payment, and I can't keep work because everyone runs out.

It is forcing me to get serious in a very rapid manner with online adventures though...so it's not all bad :-)

Todd
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cyberchick

14 years ago

Originally Posted by Gerardas Norkus

Thank you for your thoughts Monika.

Yes, you are absolutely right. We, internet marketers, should use multiple income streams for protection against the situations like this.

I work full time on the Internet and luckily I had some AdSense income that kept my business going after my main membership/CPA site was losing the profits.

Hi George,

That's great to hear. It seems you are already armed against the potential pitfalls of doing business. Glad to hear your Adsense income saved you.

All the best to you.
Monika

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phoenixx9000

14 years ago

EBay is my main source of online income and, just recently its been dead - hardly any sales at all. I partly put this down to some of ebays stupid and continual policy changes but I think people generally having less disposable income is also a factor.

If you are in the "make money online" niche I would have thought the the economic crisis might actually benefit you as more people will be looking for ways to make extra cash.

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Billytwosheds

14 years ago

Originally Posted by Gerardas Norkus

Hello Warriors,

My online income has decreased more than 50% since the worldwide economic crisis started about a year ago.

I tried to do this and that in order to avoid it, I tried various new Internet marketing tactics and it seems that I finally found something that works for me and I see my income increase now.

So, there were not only negative aspects for me due to the crisis but some positive too - I was forced to discover new things that work now.

What about you? If you suffered from the crisis (or if you still do), what actions did you take in order to escape the decrease of your online income.

Thanks for sharing.

Gerardas

Hi George

If it is any consolation, things can be much worse in the physical world of business! i actually lost my business this year, and that certainly focused my mind on developing an internet income stream!

I think the lesson we have to learn is the same as out there in the physical world; right product, lean and mean, hard work, watch your budget!

Of course, the inbuilt advantage of internet marketing is the ROI tat vcan be achieved, and the incredibly low costs, potentially.

what is hoding up for me, without being dazzling, is CPA marketing, and I am also very interested in niche marketing websites.

Frankly, I firmly believe that robot forex trading has to have a place....trading currency pairs, the state of the economy has no bearing at all!

risky, but potentially very satisfying! Probably outside of the Warrior remit though.

Regards

Bill.

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Billytwosheds

14 years ago

Originally Posted by Billytwosheds

Hi George

If it is any consolation, things can be much worse in the physical world of business! i actually lost my business this year, and that certainly focused my mind on developing an internet income stream!

I think the lesson we have to learn is the same as out there in the physical world; right product, lean and mean, hard work, watch your budget!

Of course, the inbuilt advantage of internet marketing is the ROI tat vcan be achieved, and the incredibly low costs, potentially.

what is hoding up for me, without being dazzling, is CPA marketing, and I am also very interested in niche marketing websites.

Frankly, I firmly believe that robot forex trading has to have a place....trading currency pairs, the state of the economy has no bearing at all!

risky, but potentially very satisfying! Probably outside of the Warrior remit though.

Regards

Bill.

Sorry, forgot to preview that, some terrible spelling!

ROI that can it should read!

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Daniel E Taylor

14 years ago

This is our best month by far!

And last month was the best month before this month.

And August was our best month before SEPT.

The crisis has increased my business 10 fold.

Just have to adapt.

Daniel

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opportunites

14 years ago

I still beleive in IM.
It my only way to get out of the "rat race", so I pay more attention and focus on how to make it works for me and brings me some good money in bad or good economy.

Everyday , I hear story of people that made a big launch and make alot of money.

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Gerardas Norkus

14 years ago

Originally Posted by opportunites

I still beleive in IM.
It my only way to get out of the "rat race", so I pay more attention and focus on how to make it works for me and brings me some good money in bad or good economy.

Everyday , I hear story of people that made a big launch and make alot of money.

Yes, I'm on the lists of some IM gurus and I receive big launch emails from them weekly. I wonder how the crisis impact those guys?

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David_Preston 14 years ago

It's actually been very good to me.

The worse the economy gets, the busier
we get. Offline consulting is absolutely
rockin' in times like this.

Just opened our fourth office in NC last
month and already have several deals
running through there. I'll be heading
there later today to train the new office
on some new offline strategies for big
business.

The bottom line is to not think like everybody
else, IE "The sky is falling" mentality.

Many people became rich during the depression
by capitalizing on what was not there, and
providing it :-)

David
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Andy Wang

Banned 14 years ago

[DELETED]

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achivement84 14 years ago

Hey, Sorry to hear that about your business.
Actually no change with my business , i mean i am on the same way no dramatic changes.I think the crisis influenced the offline sector much more than the online business.
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Ron Douglas

14 years ago

I have mixed feelings. The recession helped me get a book deal, sell over 215,000 books since July-09, and become a NY Times Best Seller. Other than that, the recession sucks.