Market recession and you

The market is down in almost every part of the world. There is a real crisis of liquid money. And perhaps, as an online business owner, you are facing the same problem too – sales volume going down. What are you doing in this situation? How are you managing your online business?

Yahoo will layoff a lot of employees – perhaps they have taken a good decision but I feel shocked that they had such a huge surplus of employees! If Yahoo can run well and deliver the same result without those employees, what else you can call it but a surplus! The story is similar in a lot of companies around the world. However, some people are really keeping their budget tight to survive in this period and deliver good results.

Are you facing the heat too? Please share your stories here:

Anyways, as I always say, as a small web based company or as an online start-up (without any VC backing you), you should always think about running at least two or three revenue sources or websites so that one can pull others in such tight situations.

There are different types of products but you can broadly put them in two categories – one that represents immediate need (e.g. finance) and the other that someone may even buy tomorrow (e.g. an iPod). Now, you may say that both of these products have different target audience. You are true but to a high extent they share same target group. Those who want to buy iPod may also be in need of some financial solutions.

If you are a small online business owner (without any offline presence), it is high time that you think about investing on some “immediate need” based product so that your business keeps rolling. Even if you do not have any such product to sell, join an affiliate network.

What do you think?