I remember in the early 1990s, the world was in a big recession. In a normal recession, the economy drop fast but pickup faster too. In Canada, it lasted much longer than the USA. Canadian companies made significant structural change that now, they fair better that the US economy because of that. One thing I also remember is that companies that kept advertising made it out of the recession in a much better financial shape.
So what's your point?
You can take those same lessons and apply them in the Internet world too. You should "restructure" your way of thinking and go beyond your comfort zone a little.
People will still need to buy stuff in a bad economy or recession. The rich will still buy new luxury cars, the middle class will think twice and find the best deal for them and the poor, well, they will survive the best they can.
I also wrote a traditional way: Tips On Making Money In A Bad Economy Or Recession because below are some of the methods(free/paid) I'm using to make money online.
Most people that find my page are too "afraid" to take action to make money online. Don't be afraid! At least, you should consider looking at the free or one of first 3 paid methods. They are the simplest to do and require the least technical skills. Heck! the first one(paid) is so simple that my grandmother could use it. Okay, maybe not but you get my point.
By reading this, you made the first step that most don't. Now, you must take action. That's why 99% of people don't make money online or offline: they just read but never take action after that!
Are you going to be in the 1% or at least, try it? You don't need it to be a full time job either. That's the beauty of making money online. You go at your own pace and earn passive income while working ar your job.
Note: After I wrote this, I got a few emails from those that tried one of the methods below. Every time, they thank me for encouraging them to take action. Sometimes, it's what they needed: a little push to start them without going broke. Do you need me to push you to get you started or a kick in the butt to take action? :D
Do you want FREE information first?
Not everyone are at the same technical level or want to spend money and it's okay. Recently, I found a site that will give you FREE information.
But to get the FREE information, you need to request it! It will only take you 1 minute. They are in 2 countries(US, Canada) so click to watched the video only if you are from those country. Otherwise, you will be be sent elsewhere. They can geo target your IP so not to waste your time.
Since it is $0 to get that FREE information, you don't have any reasons not to take action on this one.
Recent Stats: Since the US are in bigger economic troubles this day, it's sad than not many visitors look at this opportunity. But the overall result of those visiting and requesting the information is 12%. I don't understand since it's FREE information.
Ideally, it should be 1 visitor = 1 request for both countries.
C'mon Americans and Canadians! You can do better than that.
I hope you do take the time to request it. At least, you will be in 12% who did take action.
After that you have requested the FREE information, you decide if it's for you or not. Either way, you took action this year and you have other methods below.
Making money in a bad economy/recession
Now, if you can't take 1 minute to give some information or spend a few dollars, how do you expect to make money in a bad economy/recession?
1. Paid to do surveys
You can get paid or get stuff by participating in surveys so anyone can do that. You might not get rich but you could earn a few bucks more each month. Companies are willing to pay for your feedback about their products and services.
Surveys can be hard to find so you could become a member of a site that find real surveys(since 2003) for you. They will often ask for a one time fee for their time(i.e. searching for surveys).
Since companies can't afford to waste too much money, I expect a growth in this market. The surveys will allow them to better target their market.
Note: If you are not North American, those type of sites are not for you since it's mostly for the American/Canadian market with a few international surveys(UK).
2. Information, Information, Information
I realized that many might not have all the time or initial money for #4,5,6 below. That I understand that perfectly. So, I found the $7 Secrets report that will be the easy for new people to get started.
You can sell it to others for $7 and you get $7. It's all explained in the report.
But first, you will need to open a free PayPal account to buy it and received payments when reselling it. Don't worry, PayPal is own by eBay. It's also one of the most common way to buy online without giving your credit card number.
Plus, the information in the $7 Secrets report is very useful if you know information about a subject(flowers, cars, sports, electronic ...).
Btw, the included script alone is worth more than $7 if you decide to apply the method in the report. You will understand when you read the #2.
3. See Free Movies Legally(and make money too)
Edit: 2008/11/11 Version 3.0 is now available. I added a family Project chapter.
Using the $7 Secrets report script, I wrote this $7 report: See Free Movies Legally(and make money too). Yes, it's 100% legal and safe to do with the family.
My method is generating $50-100 per month or $600-1200/year in my spare time. In the report, I gave a realistic expectation because I don't oversell it.
The "make money too" part is what will be profitable for buyers if they apply the method not just with movies but with other subjects like Play Free Games with a Playstation 3, Xbox 360, Wii... added in v3.0.
I know, I could tell you that they would make $200-500/day from the start but I don't. So, beware of those that will tell you something like that. Is it possible? Of course it is but with time and mostly experience. You need to crawl before running to the bank.
Bonus: If you don't want to use my method with movies, then use it for other subjects. If you don't have a subject, you can get 100% commission by reselling my report to others using the affiliate link(easy). That's $7 that go directly into your PayPal account every time. Like the $7 Secrets report, you don't need a website to promote it but it helps. I will tell you how/where when you buy it using free places on the web.
Plus, you will get for free the newer versions of my report.
4. Selling PLR products(ebooks, software...)
I'm using a private label site that I reviewed(new window) the service for you. For those that can't afford PLC yet, you can use NBN(review) to start you out with niche blogs.
Tip: You might also want to download this free guide: Make Money With PLR Guide(PDF)
5. Buy/resell stuff online
It's traditional but still part online. What might be junk for you, might be a treasure for someone else. For example, you could buy rare DVDs and resell them locally for a profit.
In any case, I suggest that you open a free account anyway. You might need to buy something that you need or resell something to make room for other stuff. You could always do a trial run after registering by buying a very, very cheap DVD to see how the whole process works so not to get a surprise.
Hint: Beware of shipping fees(sell/buy) on the heavy objects unless it's delivered locally. It will eat all of your profits.
6. Targeted auction sites
A few days ago, I saw a news(TV) that people were turning to auction sites to sell their things. I was thinking of writing this post for some time now and that news confirmed my suspicion.
You can start making money by building BANS or phpBay sites(Ebay store). That's one of the reasons of the lack of updates on my blog. I started to build very "product targeted" auction sites a few weeks ago. Some sites are now starting to pay off. I'm very patient and I know that some will take months while some will pay off faster.
January 2009 was my biggest month to date.
What is a BANS/phpBay site?
Simply, a BANS/phpBay API is a script that show products from eBay. Once people buy items using your auction site, you get a commission from the fees.
BANS is the simplest for most beginners. I use AuctionSiteWriter to build phpBay API sites.
Update 2009/04/07: I created MyStarterBlog(Windows only) and Rob created a plugin to show eBay items. At this time the cost is($7 for MyStarterBlog and $7 for the MSB eBay plugin). Both give free updates for life.
Do you have a blog?
If you have a blog, I recommend using the phpBay Pro Wordpress plugin. I recommend the paid version(more parameters). The free version only has the first 2 parameters so don't waist your time.
[ phpbay]Blu-Ray Player, 4, 15077,"firmware broken"[/ phpbay]
It will show the first 4 blu-ray players in the category(15077) and exclude players that have "firmware" or "broken" in the title. You, those parameters are useful. ;)
[phpbay]Blu-Ray Player, 4, 15077,"firmware broken"[/phpbay]
I just gave you 6 methods to make money online. Also, depending on your free time, the first 2 methods will cost less to do and take you less time to apply. If you are just beginning, the 6 methods are in the order that you should start in.
I'm bias here, but See Free Movies Legally is a good way to get your started online at a reasonable cost. It will help if you like movies and when you apply the method in the report. Otherwise, just promote my report at first.
Even if it's online, you must treat this like a real business, be patient(BANS) and invest money if/when you can. Yes, it may take some money but it's far less than going with brick and mortar business model.
The only thing that can stop you is yourself. SO TAKE ACTION NOW!
Again, the 6 methods are:
2. $7 Secrets report
3. See Free Movies Legally
5. Private Label Chest/NBN
6. BANS/phpBay auction sites/blogs
TAKE ACTION NOW!
Edit: I will update this post when needed. You may bookmark it. Send it to friends that might also act on it. You can do it in groups if you want.
Keywords: 1 Cool File, auction, bad economy, BANS, Business, eBay, Entrepreneurship, Hosting, Internet, make money online, Money, News, passive income, recession, Software, take action, Technology, weak economy