Recession in 2001, 2005, 2008, it’s now too frequent! Almost after every 3 to 4 years. Yes I am talking about economy slowdown in US. If this situation continues your business will never come up in profit!
Many big as well as small businesses stopped spending money on marketing, hence no cash flow in market making it difficult to run the business for profit.
US economy slowdown affecting directly or indirectly to rest of the world economy. Though some emerging economies like Brazil, India, China and Russia not getting affected too much in recession but due to globalization in economy no country is recession proof.
Here are some effects of recession:
- Companies spend less money – Employees and small businesses depending on big companies get vanishes.
- No big purchase decisions from people – No cash flow in market.
- Job cuts: No jobs, no money! Employers on lay-off spree during recession period.
Here in this post I am concentrating on how to make your online business (blogging business) more recession proof.
Is blogging recession proof business?
Yes! If you follow these simple steps. These are not one-night money making steps. This requires efforts, as you need to work harder and harder during recession.
Internet! A good place to make more money in recession.
- Internet business is recession proof (but not 100%)
- Internet business requires very low budget.
- You can earn more money just by concentrating on your online product instead of hard products sold in market.
How to earn more money during recession?
1) Search for more money opportunities: I am considering blogging opportunities. All online job opportunities that requires no or very less investments.
2) If you own a blog, think to start another one. This will take some time to see the results but will be helpful to double the income if the recession period is too long.
3) If you are selling 1 ad space on your site, make it 2 or 3 ad spaces. Even if you think ads are distracting to your readers, forget this thought at least for some time i.e. till recession period.
4) Look for more publisher ad opportunities. If you are running Google Adsense on you blog why not think to join any new publisher ad network like CPM ad networks.
5) Approach to more advertisers directly to place ads on your blog. Offer some discount in recession period. Instead of stopping the complete business everyone think to cut the cost in recession. So your discount offer might be appealing to advertisers.
6) Think about freelance writing opportunities. Write some guest paid posts on other blogs. You will get money as well as some exposure to your blog.
7) If required spend some money on online marketing even if you have not spend a dime before. But keep the eye on ROI. If no ROI, stop spending.
8 ) Look for some affiliate deals: Sell some books on your blog niche topic.
9) If you are expert in some topic don’t hesitate to write book on this topic. Keep your books short and cost effective so that people can buy them even in recession. People starve to increase sell in recession period by any means. So your business ideas or expertise can help them in recession.
10) Look for part time job opportunities: If only blogging income is not sufficient for your living, think of some more job opportunities. May be in companies interested in your skills. More part time or contract job opportunities get created in recession period.
There are plenty of online recession proof business opportunities other than blogging. Try them.
Here are some of them:
- Purchase and sell domains (Warning: Requires very good knowledge of domain market)
- Purchase and park the domains. Spend some money on marketing parked domains. Use your existing blog portfolio to get traffic to parked domains
There is no need to tell other common cost saving daily life ideas and habits during recession.
Still here is the short list of other money saving ideas that will help you more recession proof and support your blogging efforts to become financially strong:
- Cut unwanted expenses on shopping unnecessary things.
- Make most of your meals at home. Avoid hotels.
- Avoid expensive trips or vacations.
- Avoid using credit cards. Use hard cash for any purchase.
- Build some emergency cash. It’s foolish to tell people to build more emergency cash in recession period but an attempt to make you aware of needs of emergency fund which may help you in next recession ;-)
- Develop your skills so that you will not face any problem while making career shift – if required.
- Reduce home expenses. Cut laundry bills, save electricity, don’t purchase cloths if not needed.
Believe me blogging is the most cost effective online business if done with passion! You will not suffer from any current or future recession. Money will automatically follow you to make you recession proof!