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Economy and Online Businesses

by rgwhitaker
3 replies
Hi, all!

My name is Ron and I am new here. My friend recommended me to this site and I am very happy that he did. So much good information to learn from the posts.

A question I have currently is for those with online businesses, how has the recent events of the economy, if at all, affected your businesses?

I was listening to Big Idea with Donny Deutsch the other night. He had Jim Cramer on who pretty much said that now is NOT the time to be starting a business. Survey: Is he right or way off? (I sometimes get the feel that he is more show than substance!)

These are very scary times and I'm just wondering if people are buying right now.

Thanks for your answers!
#businesses #donny deutsch #economy #jim cramer #online #online business
  • Profile picture of the author JamieBing
    Hey there,

    Any time the market and world is down, there are people willing to take the big risks and make a fortune with new businesses and changing old ones. It is all about having the right business mind for the current situation. It is not a time for the meek. :-)

    Right now wouldn't really be a good time to get into lending money but hey if I had a few hundred grand laying around I would be buying up all the property I could. Can you imagine if you could afford to buy this low.. and hold it a few years? That could turn into some very sweet profit margins.

    The same can be said for an online business. If you can come up with something that is going to help a struggling persons IMMEDIATE pain, they are going to be your loyal customer for many years to come.

    I am sure there are going to be very differed opinions on how this is affecting peoples businesses right now. It is making us move fast and make rapid changes. It teaches us to never take things for granted and always have alternate plans and multiple streams of income. We are going to survive the "lull" just fine and be better off for it in the end because we are willing and able to make fast changes.

    Sure, conversions are off a bit on some items but the more "immediate results" oriented products are doing better than ever.

    I am sure this will turn into a very interesting thread.. fast.
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    • Profile picture of the author steveweber
      Sales may be down some...but then again I have always had ebbs and flows. Actually, my products are very attractive to those who may be looking to off set some of their economic problems. I think it has had more of an effect on our retail nutritional site actually.
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  • Profile picture of the author Hugh
    "Now" is always the best time to get started.
    Because "Now" is the time that IS!

    Hugh
    Signature

    "Never make someone a priority in your life who makes you an option in theirs." Anon.
    "Some see private enterprise as a predatory target to be shot, others as a cow to be milked, but few are those who see it as a sturdy horse pulling the wagon." -- Winston Churchill

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