How To Survive And Prosper In The Global Economic Crisis

Published By Martin Aranovitch

This article provides several options for creating long-term financial security in today's uncertain global economic climate ...

The current global financial situation is forcing many individuals and businesses to seriously reconsider their strategies for economic survival.
 
Much like the giant meteor that scientists believe fell on our planet around 65 million years ago and caused the extinction of the dinosaurs, major catastrophic events tend to spell tragedy and disaster for most of us, but they can also bring hidden "golden" opportunities for those of us who can adapt to the new circumstances around them. When the dinosaurs disappeared, for example, small little furry animals survived, multiplied and evolved to take over our world.
 
In this article, I want to describe several viable options that can help you create long-term financial security in today's uncertain global economic climate.
 
Step 1 - Accept And Embrace Change
 
The world changed significantly in the late 80's when the World Wide Web started becoming more popular. Since that time, although many people migrated and evolved into "Information Age" thinkers, many more unfortunately chose to stay loyal to "Industrial Age" principles and beliefs - a paradigm that was rapidly approaching obsolescence. If you are still clinging to "Industrial" Age concepts like the idea that a good academic education will lead to benefits and job security, then you may be leaning towards experiencing a fate similar to that which befell the giant lizards after the meteor struck.
 
You may, however, just be stuck somewhere in between two worlds, wondering what to do next.
 
Regardless of where you are at, the solution is to accept that the world has indeed changed, then embrace the "Information Age" unconditionally and without making excuses (i.e. too old, too busy, too broke, too late), and start looking for new opportunities with a more "entrepreneurial" mindset. Please note that I am not necessarily recommending starting your own business if your core value is to find financial security through employment. There are always opportunities for people who are prepared to add value to other businesses and those are generally the last people any employer will want to let go of when times are particularly tough.
 
Step 2 - Start An Online Business
 
Once you embrace the "Information Age" there should be no doubt in your mind that, regardless of whatever else you plan on doing, you should also seriously consider the idea of creating one or more streams of income online.
 
If you need ideas to help you get started, here are 7 ways you could start building an online business:
 
1) Start A Blog - A "blog" (short for "weblog") is a very easy way to get started online. Basically, the general formula is this: a) set up a blog, b) start writing regularly about a specific and hopefully profitable niche area of interest, c) monetize your blog to generate a revenue stream. There are many great resources you can find online to help you profit as a blog owner. For example, when my wife and I agreed that she would return to work and I would look after the home and the kids, I started up a personal blog about being a househusband (www.lazyhousehusband.com). That blog has brought about many new opportunities for me, including having been asked to write an article for one of the UK's leading newspapers. So ... get blogging!
 
2) Become An Affiliate Marketer - Affiliate marketing can be very appealing to many people starting out doing business online, because you don't need to own your own product and, in many instances, you don't even need to have a website. You simply promote someone else's products using a specially coded link with your affiliate ID, and every time a sale of that product gets made using your affiliate link, you receive a commission payment for the sale. Like everything else, becoming successful as an affiliate marketer does require a certain amount of work, knowledge and skills, but all the information you need is out there. You can find e-books, e-courses or join online membership sites to learn how to become better at affiliate marketing and it's not expensive to get started.
 
3) Set Up A Web Store - Millions of people and business owners are selling stuff online everyday. If you have something you would like to sell online, consider starting up an e-commerce store with eBay, Etsy.com, Yahoo stores, or a number of other e-commerce solution providers. Some years ago my wife started a little part-time eBay business and, before too long, she was importing products from companies in China and leaving our neighbors wondering why so many courier trucks were driving in and out of our street every single day. Even if you decide to start a traditional business, there are many cost-effective opportunities for expanding online, and e-commerce is definitely an option to look into.
 
4) Start Up Your Own Social Networking Community - The growing phenomenon of social networking is creating unprecedented new opportunities for people online. One of the most recent trends is to start your own online community, targeting a specific area of interest. For example, I recently started an online social networking community site for beaders (www.BeadHuddle.com). This site grew to over 1,000 members in the first six weeks after launching and it now has beading enthusiasts from all over the world, as well as craft-related advertisers. If the idea of starting your own community site interests you, I recommend you visit www.SocialBusinessWeb.com and download a free report entitled "How To Profit With Your Own Social Networking Site" that will show you how to get started.
 
5) Create And Sell Information Products Online - This option is similar to starting your own e-commerce store (e.g. eBay), but the focus here is specifically on creating digital information products that can be downloaded online. Examples of digital products are e-books (electronic books) and information reports, audio books and podcasts, video training products, membership sites, software and web services, etc. Once again, there are plenty of resources available on how to do this successfully and, if you do create a successful product, it can be an extremely rewarding and profitable venture, since most of the business can be automated through the use of systems, software and outsourced suppliers. I have personally developed a couple of information products over the years that sell regularly online and, since there are no costs associated with areas like shipping and delivery, every sale I make is pretty much 100% profit.
 
6) Buy A "Ready-Made" Online Business - If the idea of building your own business online seems too overwhelming, there are many online "turn-key" businesses available which you can simply purchase and start operating fairly immediately. Just like buying a traditional business, however, you need to exercise due diligence and research the business, the vendors, the market and the opportunity before you hand over your money to anyone promising you an "online money-making machine". Turnkey online businesses can range from simple reseller web sites that include a home page with the sales copy, a zipped file containing the product that you then upload to your own server and a download page where you send customers to after they successfully complete a purchase, to complete online "franchise-like" stores. Often, the cost is surprisingly affordable. For example, in 2005 I purchased an online retail store outlet that sells thousands of downloadable audio book titles from best-selling authors and leading audio-book publishers for $1,000 dollars. Today I make regular sales of audio books from this store (www.audiobookone.net) and the best part of the business is that everything is handled for me by the parent company (e.g. stock selection, product delivery, customer support, etc ...) for a small monthly fee.
 
7) Become A Service Provider - If the idea of the moment, then why not continue working for others, but transfer your skills, knowledge and experience to the online arena? There are many opportunities for working online for other companies. One growing trend, for example, is the outsourcing of tasks like creating, managing and updating web content, providing search engine optimization and online marketing services, business training and consulting services, etc. The work can range from performing routine tasks that other businesses would rather outsource to someone else, to providing mentoring and helping others become successful online (this is definitely an option to consider once you gain more experience and success online).
 
Step 3 - Keep Learning, Growing And Improving
 
The Information Age is constantly and rapidly evolving. This means not only keeping abreast of new developments and trends, but also keeping an eye open for new financial opportunities for growth, success and expansion. Fortunately, you don't have to do it alone. There are plenty of social networking groups, online communities and membership sites you can join, that focus on your specific area of interest.
 
If you've been feeling depressed lately about the current state of the world's economy, then hopefully this article will help you realize that there are many positive and exciting things to be gained if you are willing to embrace change, begin researching new opportunities and make a decision to take action steps today to secure a better financial future in the new world that is developing around you.

About:

Martin Aranovitch is a successful SME (small to medium enterprise) business coach, sales trainer and web business entrepreneur. Visit his site www.SocialBusinessWeb.com  to download a FREE report on How To Profit With Your Own Social Networking Site.

Source: http://www.portalfeederpro.com

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