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

15 replies
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
#business #crisis #economic #impact
  • Profile picture of the author cyberchick
    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
    {{ DiscussionBoard.errors[1312072].message }}
    • Profile picture of the author Gerardas Norkus
      Originally Posted by cyberchick View Post

      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.
      Signature
      AdNetMarket - CPA Affiliate Network - $150 Sign Up Bonus
      AIM: AdNetMarket | Email Us
      {{ DiscussionBoard.errors[1312193].message }}
      • Profile picture of the author shaddai
        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
        Signature

        “Never be afraid to try something new. Remember, amateurs built the ark. Professionals built the Titanic.” -Author Unknown

        Resident computer geek. If you need help, don't be afraid to PM here, or DM on Twitter.
        {{ DiscussionBoard.errors[1313514].message }}
      • Profile picture of the author cyberchick
        Originally Posted by Gerardas Norkus View Post

        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
        {{ DiscussionBoard.errors[1314879].message }}
  • Profile picture of the author phoenixx9000
    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.
    Signature

    How I Make $50 and More Every Day on Ebay With Virtually NO OUTLAY http://www.fifty-dollarsaday.com

    {{ DiscussionBoard.errors[1312123].message }}
  • Profile picture of the author Billytwosheds
    Originally Posted by Gerardas Norkus View Post

    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.
    {{ DiscussionBoard.errors[1312150].message }}
    • Profile picture of the author Billytwosheds
      Originally Posted by Billytwosheds View Post

      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!
      {{ DiscussionBoard.errors[1312155].message }}
  • Profile picture of the author Daniel E Taylor
    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
    Signature

    Self Actualization is one's true purpose. Everything
    else is an illusion.

    {{ DiscussionBoard.errors[1313542].message }}
  • Profile picture of the author 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.
    {{ DiscussionBoard.errors[1313559].message }}
    • Profile picture of the author Gerardas Norkus
      Originally Posted by opportunites View Post

      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?
      Signature
      AdNetMarket - CPA Affiliate Network - $150 Sign Up Bonus
      AIM: AdNetMarket | Email Us
      {{ DiscussionBoard.errors[1314786].message }}
      • Profile picture of the author David_Preston
        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
        Signature
        Quit Buying "Theory Products!" Here's my entire war chest of proven offline strategies...
        {{ DiscussionBoard.errors[1314840].message }}
  • Profile picture of the author Andy Wang
    Banned
    [DELETED]
    {{ DiscussionBoard.errors[1313574].message }}
    • Profile picture of the author achivement84
      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.
      {{ DiscussionBoard.errors[1314132].message }}
  • Profile picture of the author Ron Douglas
    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.
    {{ DiscussionBoard.errors[1314245].message }}
  • Profile picture of the author TimCastleman
    I quit my job and have never been happier. Other than that the recession sucks.
    {{ DiscussionBoard.errors[1314298].message }}

Trending Topics