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Has Your Business Been Impacted By The Recession?

by Jon Tees
12 replies
Just out of curiosity do you feel as though your business has been directly effected by this terrible recession that's been transpiring in the United States and other parts of the world?

For me its sort of like meh, I'm effected in one of my endeavors where I sell vitamins and nutritional products, but in other endeavors where I sell domains/websites/web hosting and advertising space I haven't really noticed much of a drop off or difference. In fact business is picking up in the selling of ad space as more people go into business for themselves without much of a choice. We are really approaching or have already approached a point where failure is not an option as it seems no one else is really eager to hire and pay talented people what they are truly worth.
#business #impacted #recession
  • Profile picture of the author King Shiloh
    Banned
    I don't feel so though many folks in my country are complaining bitterly about it. I know it is there but I don't want to feel it.
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  • Profile picture of the author petevamp
    My business has been picking up both affiliate sales and adsense traffic and clicks. However it is really for only one of my sites which I sell information on how to save money on fuel. Where as my other green energy sites have dropped. Mainly because people do not have the extra money needed in order to go green by building solar panels and or wind turbines. So this aspect has affected me some but not a whole lot. None the less through my traffic is increasing ten fold on all of my sites and yet no one seems to want to buy certain products. The recession as been around for more then 3 years so it is bound to start picking up fully soon.
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  • Profile picture of the author hotftuna
    I'm working harder and spending more on promotion to keep revenue the same.

    Some of it is from increased competition, and some from the poor economy.
    Folks are still spending but they are far more careful with each dollar.

    For a non-IM example: The cigar store owner (where I get my supply) tells me that he rings up the same number of sales/day. Average take for the day has dropped from $1k/day to $400/day. Each sale is for less volume and lower quality/cost.

    This example tells me something- It maybe a good thing that folks are more frugal and saving more, but, the standard of living is declining.
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  • Profile picture of the author Brad Gosse
    I have had to make some changes to what I do in order to deal with the downturn. Anyone who ignores recession is lying to themselves.

    The media scares working people into holding onto their money. That makes the economy suck. Which makes people want to spend even less.

    Anyone having luck selling $47 ebooks these days? I think not Everyone who is surviving is adjusting.
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    • Profile picture of the author Chris Munch
      Originally Posted by Brad Gosse View Post

      The media scares working people into holding onto their money. That makes the economy suck. Which makes people want to spend even less.
      In the UK the media was very reluctant to accept a recession during 2008 as stocks were crashing. There was a gradual slope of hope and eventually it turned negative.

      Its easy to blame the media, but generally (at least the way I have grown to understand it) the media gives people what they want to hear while also simply putting out information from official sources (i.e facts, which are usually data which only tells you what has already happened and they extrapolate that trend).

      Before the recession and stock crash started the media was relatively upbeat, in fact some of it was exceptionally upbeat. The general population was also upbeat (look at consumer confidence figures).

      When stocks hit the bottom in March 2009 the media was exceptionally downbeat and putting out a lot more scary stories than today (e.g the collapse of capitalism?). However, at that point stocks turned up and consumer confidence began to return.

      When you look closely the media follows the big trends in the economy, rather than precedes them.
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  • Profile picture of the author Not So New
    In all honesty ... not really.

    Sales continue on like before and my businesses continue to grow.

    I guess people will still spend money on stuff they want instead of what they actually need : )

    Sid
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    • Profile picture of the author hotftuna
      Originally Posted by Not So New View Post

      In all honesty ... not really.

      Sales continue on like before and my businesses continue to grow.

      I guess people will still spend money on stuff they want instead of what they actually need : )

      Sid
      That is good to hear. It may be niche dependent.
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  • Profile picture of the author Chris Munch
    Every business is effected by the recession, but may not realize it because the net effect may be no change, or an increase. What is going on underneath is complex and we are all effected.

    When stocks take there biggest drop in something like 75 years and banks go bust then something is changing.

    I work in several niches and have several sources of income, all were effected in some way or another when looking closely. Overall though revenue is up and business is doing better.
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  • Profile picture of the author nick1123
    It seems like people lower their prices on the stuff they're selling online and/or added additional bonuses to sweeten their offers.
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  • Profile picture of the author IndigoJack
    Part of my business has been on a plateau as a result of the ongoing recession that has actually continued uninterrupted for a couple of years now and is set to get much worse in the UK - 2011 will be horrible.

    Conversely another branch of the business saw business increase dramatically. However that increase did not make up for the lost business in other areas.

    It's more important than ever to have several strings to your bow so that if one sinks another can fill the gap. Flexibility is vital.

    The ability to manufacture your own product is the advantage during a recession.
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  • Profile picture of the author derekwong28
    I had a deal with two problems that occurred at the same time, a massive and ongoing Google slap as well as the recession. Google was a much bigger factor initially.

    It took me 18 months to learn how to deal with Google but once that had been sorted out, I found that I was unable to recover my business to anything near the previous level. Apparently, my business had been reset by the recession.
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  • Profile picture of the author Raydal
    I've been copywriting for clients now for about
    8 years and by far this year has been the worst.

    Businesses are also looking for a deal in writing
    services which for me is hard to give because
    I prefer to give a break on products rather than
    my skill and time.

    But I'm talking about $10K and up so you can
    understand why it's harder to convince businesses
    to invest that money in something they THINK
    they don't really NEED.

    For sure, in 8 years of online business this one
    has been the worst. If you don't think you have
    been affected I think you're dreaming. It's
    becoming harder and harder to make the same
    sale.

    -Ray Edwards
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