Why a Recession Is A Great Time To Grow Your Home Business.
Whilst some economists say we are still in recession, others are saying that it is slowing down and will be booming again. Now, I’m no economist but it doesn’t take a rocket scientist to understand that the economy is most definitely on a “downward trend” but at the same time is also considered to be a good time to expand your home business, and as any entrepreneur will tell you, presents a great opportunity.
You see when a recession hits, the large corporations, and even some smaller businesses, immediately look for ways to reduce costs, and this usually begins with trimming the work force. So it’s a sad fact that these companies will fire thousands of workers to keep costs to a minimum and maintain their profit levels.
What Opportunities Does Having a Home Business Present?
As a home business owner, this presents an enormous opportunity, because many of these people will start to loook for new ways to make an extra income, or even to start a new fulltime venture from home. So already having a home based business puts you in an advantagous position. These new entrepreneurs will be looking for help, advice and guidance, and will probably need help with many of the systems and techniques that you will have become extremely proficient. Most importantly, if you are honest with your recommendations and suggestions they will join your business and buy from you.
Another side effect of the recession is the small thinking of large/medium sized companies. What do I mean by “small thinking?”
Well, they begin to cut down on the very things that they should actually be spending more money on in a recession, and that is marketing and advertising. So again as an entrepreneur and home business owner this presents a great opportunity. Because if you have a website with a high traffic flow you can begin to offer advertising opportunities to these large companies. So I think that we’ll see more advertising on smaller web sites by some off the big companies, and more will also look to the internet and start affiliate programs.
Therefore if you already belong to an affiliate marketing program, and you are currently affiliated to the free or basic version of the program,(most programs offer both as an easy way to get started) now would be a great time to upgrade to the nest level. As in most programs the upgraded version usually offers higher commissions (upto 100%) and also some extra training options. So I highly recommend that you up grade now, as the extra training you will recieve, aswell as the bonus marketing materials that usually come along, will ensure you are at the head of the recruiting queue.
With a bit of luck this recession won’t last much longer and the economy will begin to grow and expand again, but running a home based business NOW puts you in a fantastic position to take advantage over the masses.
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