Entrepreneur
Article
By Brendon Sinclair

Make More Money in the Economic Crisis

By Brendon Sinclair

The following is republished from The SitePoint Tribune #419.

Amazing. I go away and leave the place unattended for a few weeks and the whole world economy comes crashing down!

What this means for many people are job losses, salary cuts, less spending, and more expenses.

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But it’s not all doom and gloom, particularly for web-based businesses or web developers. All it takes is a realignment of your focus, and your business can be doing better than ever.

If you sell products online, you often have a significant pricing advantage that enables you to sell cheaper–and that’s what many people will be looking for. So perhaps it’s time to start pushing that.

If you’re a web developer, many businesses will be looking to increase their customer numbers any way they can–and that will include paying more attention to their online efforts. Why don’t you start telling this to your potential market? Remember, advertising costs will come down, so developers can advertise more for less.

  • Ramp up your marketing: Most businesses cut costs when the economy goes bad. Don’t do that–now is the time to get noticed, and it should be easier than ever, with less cost and less competition for attention.
  • Change the focus of your marketing: People will be looking for bargains, so offer 2-for-1 deals, free giveaways with purchases, and anything else that will appeal to the budget-conscious.
  • Be flexible: Be prepared to alter your business model to maintain cash flow and keep the wolf from the door.

By playing your cards right, it’s possible to not only weather the economic downturn, but capitalize on it!

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