Recessions are the Best Times for Business

I’m no economist, but I believe there has never been a better time to start your online business. The economy is down, job security is iffy, companies are downsizing and everyone is hoarding money in case the situation gets worse.

It’s great, really. This is the perfect time to launch a business and make your dreams a reality.

“James, are you insane? How much coffee have you had today? Times are tough – terrible even! No one is buying, there’s competition all over the place and everyone’s losing money by the minute.”
Well, that’s true. Times are tough. There is competition. Some people are losing money, yes. Guess what? It’s time to take action.

Online, the opportunities are ripe for both sellers and buyers, ready for picking.

It’s the law of supply and demand at its best. Supply is high, demand is low… that actually puts the advantage is on the buyer’s side. Service providers are soon going to be dropping their prices to encourage people to their business. Everyone’s going to be working hard to entice clients to buy.
Wheeling and dealing is going to start happening all over the Internet – if it hasn’t already.

It’s a buyer’s market, yessir, but that’s also to the seller’s advantage, I say. Sure, businesses may take a cut on profits, but think of the potential – those businesses can tap into the benefit of attracting new clients who weren’t previously convinced of paying higher rates.

“I don’t want the cheapskates, James.” I can hear some of you now. “If they can’t pay…”

Well, that’s fine. The others who aren’t so proud are going to have an edge. They’ll lower their rates, attract new clients and have a great chance to prove their worth to these customers. They may earn a repeat sale, a long-term contract or a loyal client.

“You’re crazy. No one is buying, James. No one has money!” I beg to differ. People may be more cautious about spending, yes, but think a minute.

Prices are going to start dropping as providers compete with each other for clients. It was already cheap to start a business – now it’s going to get even cheaper.

Great! Not confident about job security? Preparing a plan B? Aware of an impending downsizing? I say it’s the perfect opportunity to start building that business of your own right now.
What are you waiting for? The signs are there – seize control and get busy.

Ah, but who will buy, you may be wondering? Build cheap, but will they come? I still say yes. If you have the right business for what people are searching for, then you can step in and fill demand. People are being careful with money, sure – they aren’t stopping life.

People will always have needs and wants. They will still buy. And buying is the key to turning the economy around. Now is not the time to hoard – now is the time to take control.

Here’s a thought, too. Let’s say that there is a spurt of new businesses launching online, as people seek to find more secure income streams or tap into new opportunities. What does that create? Demand for services. Providers will be needed to meet the demand.

Alright, granted, providers may not be able to get premium prices for their services, but they’ll be making money nonetheless. They’ll be working, with no loss of job.

What if we all work less? What if my predictions are wrong and that business does go south online? I know what I’ll be doing: taking advantage of the downtime to build products or services so that they’re ready to launch when the economy turns around.

I’ll be right there waiting, all ready to sell what people want and need. Your ticket to opportunity is right here – you coming with me?

Post by James Chartrand

James Chartrand is an expert copywriter and the owner of Men with Pens and Damn Fine Words, the game-changing writing course for business owners. She loves the color blue, her kids, Nike sneakers and ice skating.