Why I love a bit of doom and gloom
publication date: Jul 17, 2008
Hi
I can't wait for the economy to implode . . .
Or for unemployment to rise, for repossessions to
increase and for people to really start feeling the pinch
of inflation and the credit crunch.
Yes, I love recessions . . .
Am I some kind of economic sadist who enjoys other
people's misery? Do I feel smug sat here in my comfy
leather executive chair?
Not at all!
Let me tell you why I love doom and gloom . . .
It's because people have problems that need to be
solved.
And it's because switched on entrepreneurs and
businesses can start helping people in a real and direct
ways . . . and make a decent and honest income out of
it.
To be honest, I find boom times boring.
But when things get bad, you can be sure that more
people are desperate to find new ways to save and make
money.
So why not position yourself to profit from the tough
times ahead and exploit these recession-friendly income
generating ideas?
1. People want to save money
-
In bad times people are keen to retain their
standard of living but will look for ways to
reduce their outgoings. So branded and good
quality used goods will see an increase in
demand. How could you exploit this? Well,
eBay is an obvious place to start. Amazon is
also great for books, CDs, DVDs and
electronics.
Recommended reading:
-
Consider starting a utility, mobile phone or bank
charges auditing service. It's a win-win
proposal as you just take a cut of any savings
you make for your clients.
-
Sell other people's unwanted items on eBay and
take a % commission.
-
Penny pinchers delight! Could you put together
an ebook with something like 101 ways to
reduce your household bills? Use Google
Adwords to attract prospects. Give the book
away free online and capture an email address
and then start sending them regular alerts with
tips for saving money. Then push readers to
affiliate links for savings and pocket the
commission.
-
What about starting a rent a room agency,
helping small time landlords find tenants? Or
become a parking space broker?
-
With house sales down and demand for rental
properties rising, become a lettings inventory
assistant (see more details on that later)
-
Consider repair and renewal services - rather
than buy a new kitchen, what about offering a
kitchen facia service - popping new doors on
old kitchen cabinets?
2. Businesses need to slash costs
-
In a downturn, many companies will cut back
on costs and contract out many functions,
ranging from accounting and book-keeping to
personnel and marketing.
-
Also consider offering proof-reading or
secretarial services. If you don't have the skills
yourself, consider creating an agency of
temporary staff.
3. Help unemployed people find jobs
-
How about starting a CV writing business, an
employment agency, life coaching service,
personal image consultancy or job skills
training? Again, if you don't have these skills,
find people who can.
4. Pick up bargains and sell for a profit
-
In the coming months there will inevitably be a
surge in the number of bankruptcies,
repossessions and liquidations. Bad news for
some, but it does mean that there are buying
opportunities.
I have some very exciting news on all these bargain
sources and will send you details next week. In the
meantime, a great twist on this is exploiting the Price
Comparison sites. More details here:
***********************
Yes, it's that time of year again . . .
***********************
As you may know I don't publish any regular hard copy
newsletters during July (and December). But I do
publish a 'fast cash' compendium of the very best
articles from across all the titles.
And guess what, it's free!
Let me tease you with what may just appear in the
Summer Compendium
-
21 ways to exploit the public domain on eBay
-
How to start a Lettings Inventory Assistant
business
-
How to become an online affiliate broker
-
And loads more including a great betting system
and the 3 ducks forex trading strategy!
If you subscribe to any of my newsletter titles (see full
list below), then you'll be getting a hard copy of the
compendium at the end of this week.
If you don't (shame on you), then you'll just have to be
paitent . . . I'll send you an electronic version of this
bumper money-making collection a week or so later!
Cheers
Nick
PS: Want to defend yourself in the tough times ahead?
Then check these out:
What Really Makes Money
What Really WINS Money (betting systems)
What Really Profits (financial trading reviews and
strategies)
eBay Confidential (erm, makig money on eBay!)
Internet Income Detective (cashing in online)