As you may have heard, a major recession is on its way.
It could be all be crashing down as I sit here writing these few words or, it could happen two years from now, we simply don’t know when.
One thing is for certain, it’s coming and when it comes, it’s going to be a recession unlike anything we’ve ever seen before.
I’m not going to go into macroeconomics here on why this recession is imminent (there are smarter people than me than you should check out) but one thing I can tell you about (or better yet show you) is;
How to start an online business before the next recession is here.
If you’re going to survive it, you MUST have an alternative source of income.
It’s always good to have multiple sources (even when not in a recession) but given how all experts agree this will be more of a depression than a recession, it’s time to start locking-in some additional resources.
In this article, I’m going to share with you a few ways you can start making money online in preparation for what is to come.
I will share with you a few “online business ideas” that I myself have taken advantage of, and also a few alternative ways to make some extra money online.
You can use this income for either venture as a “store” for when the shit does hit the fan, or to invest it into assets which will help hedge you against the recession (mainly precious metals and crypto).
Whatever it is you decide to do with it, I’m sure you would not mind a few extra hundred/ thousand dollars per month, and it’s my duty to share with you what I know, so let’s get started…
In this article, I am going to share with you:
- 2 of the safest way I know to start an online business (with low start-up costs).
- 7+ ways to “make money online” on a per-task basis.
- Which online businesses are the most recession-proof.
- Where to invest your profits to “hedge” against the devastation of a mega-recession.
Let’s get started…
2 Safest Ways To Start An Online Business
There are 3 major ways to make money online, but I’m going to mention just two here since one of them does require a huge investment to start (with a very low success rate).
The one I shall not speak of can be found here, but the two business models I do want to share with you are:
- Affiliate marketing and
- Build your own recession-proof personal brand.
Let me tell you what these all about.
Building An Affiliate Marketing Business
Affiliate marketing is not the quickest way to make money, but it’s a sure way to make money.
Affiliate marketing, for those just tuning in, is the business model where you sell someone else’s product for a commission.
For example, Amazon.com has its own affiliate program which pays out 5 to 8% on any product you can find on Amazon.
If you send someone to Amazon through your Amazon affiliate link, and they buy – you get paid a small percentage of that purchase.
Amazon is just one of the players here. There are thousands of other affiliate programs which you can look into and join.
I’m not going to go through every step of building an affiliate marketing business right now as we’ll be here all day but;
If you are interested, you can check out some of my previous guides about it here:
- Getting Started With Affiliate Marketing
- How To Make A Living With Affiliate Websites
- Everything You Need To Succeed With Affiliate Marketing
Building Your Own Personal Brand
Next up is building your own personal brand.
In other words, you need to create an audience that follows you for information about a specific topic you know a lot about.
You can start a blog, an Instagram page, a Twitter following, an email newsletter, whatever…
Just an audience is not going to create an income for you, but you can then turn that audience into an income if you can create a course about what you know.
Let’s say you are known amongst your friends as the best person to go to on advice about relationships.
Why not start a “relationships blog”, build an audience around that and then create a course that shares all you know about relationships?
This is by far one of the quickest ways to get started and there are many people who make money online by selling courses (I too have an SEO course that I promote and make money from).
& remember – you create a course once, and it will keep selling forever.
This would be a passive-income asset that you can rely on when things go dark.
Sure you may not be selling as much when a major depression hits, but it’s still a source of income that you can rely on.
If you’re interested in learning how to start an online course, you can look at these two fantastic guides below:
Alternative Ways To Make Money Online
The 2 methods above are one of the safest sure bets that I can almost-guarantee will make you some extra money (and maybe even save your ass when a recession hits).
Next up, I want to share with you a few ways you can make some money online by doing random tasks here and there.
While we can’t really consider these methods as a “business”, they certainly are a great way to make some extra money which you can hoard for later.
Here are some of the most unique and ingenious ways to make some extra money online:
- Make money submitting video reviews.
- Tutor English to people online.
- Become an online transcriber.
- Sell whatever you want on Gumroad.
- Help out companies by doing product surveys.
- Earn some Bitcoin by clicking and reviewing ads.
- Earn back some money with cash-back incentives.
Each link leads to a guide on the topic but as you can see, there are plenty of ways you can make extra moolah online.
There’s no reason why you can’t earn at least an extra $500 a month which you can put away and store for later.
Here’s also some more of my guides that also mention specific ways to make money online:
- How To Make Money Sexually Online
- 10 Strange & Unusual Ways To Make Money Online
- 8 At Home Online Business Ideas For Beginners
- How To Make $100 A Day Online (15 Legit Websites That Pay)
Which Online Business Is The Most Recession-Proof
For a business to survive, especially a recession where everyone is watching every cent, you need to actually be bringing something of value to the marketplace.
This is why I deliberately left out “dropshipping” from the list of online business ideas I shared above.
I have nothing against dropshipping (I too make money with dropshipping) but that business model is not only very expensive to start, but also very-fragile since you’re mostly selling trinkets to impulse buyers.
For your business to be able to survive, you need to bring something people actually want and value.
This is why I recommend you either start an affiliate website or maybe even a personal brand.
If you bring “real value” to the marketplace, even though sales are likely to decline when everyone is being tight with their money, you can still earn money and you can at least still feed your family.
Of course, people will still be “buying” things, but they will only buy what they really need.
If you can offer something that they really need more than they need money itself, then you will survive what many are saying will be “the worst recession in history“.
Where To Invest Your Money To Protect Yourself (& Your Family)
Now that you know how to start an online business in preparation for the next recession, let me share with you a few ways I am currently preparing for what’s to come.
Investing in Gold, Silver and Cryptocurrencies.
When a recession hits, not everything goes to zero.
What usually happens is the wealthy start taking their money out of the stock market, and putting it into non-correlating assets that tend to always perform well in a recession.
The two most obvious things are gold and silver, but we now also have cryptocurrencies as an option.
While crypto is still very much a speculative investment, it’s clear that when things go sour in a country, many will turn to crypto as a safe haven.
You can look at Venezuela, Argentina and Turkey as great examples of this.
I do plan on buying some gold with my online business profits soon, but my bet is on crypto.
I’m not telling you to do the same, but I am telling you to think about how you can funnel your online profits into assets that will hold (and increase) in value.
Hold onto to cash, and buy the blood.
When you have an economic crisis coming, of the smartest things you can do is to build up a cash reserve in advance.
When it does happen – you will be able to start buying up assets at a 40 to 50% discount so it’d be smart to have a pile of cash at the ready to snatch up these discounted assets.
In investment circles, this is called buying the blood.
If you stockpile some cash – and you start buying real estate, stocks, bonds, etc at their lows – you will be making a hefty profit once the market recovers, which it always does.
One thing you should know here is that the market goes in cycles – up & down. What goes up, must come down and what goes down, must come up.
Just hold on to the cash (& do nothing)
Another option is to simply hold onto your newly made cash and do nothing with it.
This will guarantee that you at least have enough cash coming in (and saved) that you can survive a recession.
As you may remember, there were a lot of people who lost their jobs (and then their homes) in the 2008 crash.
If you manage to build a high-enough pile of cash, you should be relatively safe.
This, of course, depends on your type of lifestyle but surely; more money will be helpful in a financial crisis.
Want To Start Building Your Business Today?
As I stated above, a major recession is on its way, but nobody knows when it will actually get here.
If you’re thinking of taking me up on my advice and start building an online income source for what is to come, then you need to start today – right now.
I have a great training course for you that will show you how to make money building up simple affiliate websites, which is how I make 90% of my income today.
if you’re interested in that, you can check out what I’ve dubbed “The Affiliate Starter Pack” – it’s only $19 and you will have absolutely everything you need to make money online – I guarantee it.
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So there you have it, folks.
You now know your options and the reason why I think everyone needs to start an online business before the next recession.
If you found this useful, please consider it giving at a share so we can get that word out about this.
I want to make sure everyone knows that there are things you can do to prepare for this (and not end up jobless or worse; homeless).
I’ll leave you to it.