Thriving Business In A Recession – Top 3 Recession Proof Business Models For The New Economy
There is a vast transfer of wealth and businesses happening right now. Here are some things to know if you want to create a successful business in a downturn. Then we’ll discuss three businesses that thrive during a recession.
Everything is happening online. You don’t have a professional online presence if your business isn’t visible.
It is a new world for us all to step into the 21st Century. There are three businesses that thrive during a recession that every business owner should know.
#1. It is easy to see that knowledge has become the most sought-after and consumed resource on this planet.
There are a lot of information products and education companies popping up on the internet. They are expanding at an incredible rate. With the advent of smartphones, Kindles, iPads and other devices, information can be accessed anywhere.
An information product is now a $1 billion industry. It’s a business that thrives in recession.
#2. Social Media is The New Word of Mouth:
If your business isn’t on Facebook, Twitter or YouTube, you should rethink your marketing strategy. Your competition is! This new social media landscape offers business owners an incredible opportunity to increase their reach.
Your next customer is only a click away. You must be online to create a profitable business even in a recession. Online marketing training is an option. You can also hire a social media strategist who will manage your web 2.0 efforts. The social media world has become a gold mine for many of your competition.
Sites like YouTube, Twitter, Google, Google and Facebook are real and should be used by your business.
#3: Highly leveraged internet business models:
This is the best thing that entrepreneurs can do to create thriving businesses during a recession: position themselves ahead of emerging trends.
There is always an opposite when the economy is in decline. What’s the most significant trend you can see right now?
Forbes Magazine recently published an article that stated that over 79 million North Americans would be their own home-based entrepreneurs within the next three years.
Paul Zane Pilzer, the former chief economist of 2 presidential administrations, predicted that more than 10 million millionaires would be created by the creation of online direct-selling businesses.
The direct sales industry offers huge income and growth potential.
Direct sales models that pay business owners between $5 and $15k per sale are some of the most effective online. These “New Economy Business Models”, which are transforming the world, have helped many entrepreneurs earn 6-7 figure incomes in their first 12-24 months of the initial investment.
A web presence is essential if you want to create a successful business even in a recession. It also needs to be profitable. This is a recession-proof formula that can work for everyone.