Starting an Online Business During a Recession with [Regenesis 2×2]
Taking any sort of risk during an economic downturn the size of this one can be scary. As we watch retail sales fall drastically, businesses closing their doors and people losing the jobs they’ve had since teenagers it’s not hard to understand why so many of us are hesitant to try something new.
The big question on many minds is whether starting an online business is a smart idea during such rocky financial times. For those of you who have already lost your job it’s a no brainer; you have nothing to lose so it’s certainly worth a shot. But what if you still sport the nine to five lifestyle and live in fear that you’re next to go?
The answer is yes. It is a smart idea.
Starting a small online business is something that can be done after work hours to provide extra income and best of all: some backup if you should happen to lose your job.
Countless businesses that have been forced to make cutbacks and lay off staff are now turning to the internet to outsource. They save money this way by only paying per job and not having to pay into full salaries, health benefits and retirement plans. It also enables companies to compare prices and services before selecting a business or individual to work with.
If you’re not set on selling a specific product or service it’s certainly worth doing a little research to find out what companies are looking for.
Businesses are not the only ones flocking to the internet; so are shoppers. Shifting to online commerce to seek out lower prices and more convenient services is one way consumers are exhibiting spending caution.
An earnings round up report printed by the Associated Press stated that, “The results are higher than analyst expectations and indicate that the online retailer is faring well despite the ongoing recession.”
Amazon.com has actually been exceeding their expected growth rate during the recession and Netflix has reported its best quarter in the company’s 10-year history as people turn to the internet for less expensive forms of entertainment.
An online business can be started with very little overhead and considering the financial security it can offer during such rough financial times; it’s definitely a smart idea.
Derrick Doughboi Strickland is a business coach and mentor that assists serious entrepreneurs in building a profitable online business with multiple incomes streams. Derrick and his team have assisted hundreds of people in generating profits. More information and to contact Derrick visit http://www.workingwithderrick.info