Building an Internet Business in a Recession

Posted on January 19, 2009 8:00 AM by Joel Comm

There are a lot of worried people out there. You might even be one of them. People are losing their jobs, seeing their wages cut, watching their revenue charts change from a steep hill to vertical cliff.

These aren't great times.

But they are times of opportunity.

When I was researching Click Here to Order, there was one story that I came across time and time again. It was the story of the entrepreneur whose ideas had failed, whose business was collapsing and who was down to his last buck.

It was a story that I could tell too.

And what happened in every single instance - including mine -- was that that entrepreneur was able to turn things around. A plan that they'd been playing with took off. They discovered the missing piece that explained why their strategy hadn't been working. They met the right person, had the right idea, formed the right partnership.

You can call it luck, if you want. I tend to think of it as providence.

But I also think there were a couple of other factors that helped to turn every one of those sticky situations into the road to success.

One of them was hard work. Providence just provides the opportunity. You have to make the most of it. I've never met anyone who made a million dollars lying on a sunbed.

The other was motivation.

When life is good and your day job at least bearable, the revenue from Internet marketing is the cherry on the cake. You might like more of those cherries - you might even feel you'd like to ditch the cake and feast on the cherries alone - but as long as you don't feel you need that extra income, it's just too easy to enjoy what you have and put the minimum effort into growth.

But when you're not certain what tomorrow will bring, the incentive to explore all your opportunities is much stronger. Your Internet marketing ventures are no longer a fun and profitable thing you do on the weekend; they can be a stable income in unstable times.

I know a lot of people are concerned now. But I also know that a lot of people are going to come out of this period with Internet businesses that are bigger, stronger and more profitable than they would have built at any other time.


19 Comments For This Post

  1. Kirsten Says:

    Hi Joel,
    great post! I can tell that story, too.
    From the first cocktail delivery service in Berlin, to catering, to eBay, to language teaching.

    Last year, I took the decision to take my teaching online, right before the crisis hit europe. Now I have more students from around the globe that I can handle.

    Believe in yourself!

  2. Elliot Says:

    Hopefully soon ill find that "missing piece", everything else is in place, my motivation, a plan, and a sunbed!;))

  3. Spin Ready Articles Says:

    That's absolutely true. Things may seem very hard right now for a lot of people, but it's eventually going to get better. So, this is the time to keep keeping on. If this will help, you can visit Anthony Robbin's http://www.PowerOfCrisis.com for ways on Transforming Your Ultimate Challenges Into Your Greatest Gifts. I hope this helps, By the way, thanks for sharing this, Joel.

  4. Steve Says:

    In adversity lies the seeds of greatness.

    Something like that, anyway.

    It's a breath of fresh air to read of optimism instead of the pessimistic views we're continually bombarded with.

    THANKS!

  5. Studenomics Says:

    I don't know if this applies to me technically but I am trying to turn my personal finance blog into a profitable internet venture. I guess it's not a internet business in the traditional sense but nevertheless I am hoping to generate some sort of an income. What do you feel about this? Should I be optimistic or realistic?

  6. Ronald Earl WIlsher Says:

    Excellent post, Mr. Joel C!

    A. Carnegie called it "contrarian economics."

    NOW is the time to go FULL STEAM ahead. Yup!

    I appreciate your positive vibe, Sir!

    Keep the faith and keep being you!

    ~Ronald
    TrueBeliever & HopeDealer

  7. Tom Lindstrom Says:

    Now is the right time to become self employed.More and more people are coming online looking for work at home opportunities.

  8. Alvin Says:


    Hey Joel,

    You absolutely read my mind with this post.
    If you have the time I will prove it to you.
    Check out the website link I provided with this post.

    To those that conquer!

    Alvin

  9. German Romance Says:

    The bigger the problem the bigger the opportunity! Keep your head cool, and work as hard as you can, the opportunity of a generation is here and now!

  10. Loren Says:

    I totally agree with the need for optimism in a world now filled with pessimism. I know I'm optimistic - I love the new world of technology and am thankful to be a part of it. I can't wait to grow and learn so much more. To all of our success to come - keep up the hard work!

    Loren

  11. Vincent Collaso Says:

    Well said, Joel. Quite inspirational...

  12. Quang Vo Says:

    Excellent post now i am all hype up.

  13. Brock Predovich Says:

    Ain't that the truth. You can look at these times as doom and gloom or you can look at them with eyes and ears of opportunity. These times of extreme change bring incredible opportunity for those willing to adapt quickly. opportunity that wouldn't normally be present if times were more comfortable.

    brock
    http://brockpredovich.com

  14. zolar Says:

    Motivation.. Hard work. All is the best way to make our life better..

  15. reflux Says:

    optimism and hard work to survive in hard situation.....

  16. David McDonough Says:

    Hey Joel,

    I was at a Round-table meeting the other day, and the speaker made the statement that there are more millionaires spawn from a depression than in any other time in history.

    If you are unable to sell your products, you will need to add more value or use the value of your product as a marketing tool. I also run a Greeting Card business and I have picked up more clients this month than any other month of last year.

    I guess what I am trying to say is that the money is still there. You just need to show people the value of your product and they will buy it.

    Keep Moving Forward!!!

    Dave McDonough
    http://smartpassivelistbuilding.com
    http://davidmcdonough.com
    List Building Club Spokesperson ;)

  17. Jeff Paul Says:

    I run my blogs on a blogspot and I find optimizing my blogs very difficult. The amount of comments I receive really messes up my SEO activities and I end losing valuable visitors.

  18. free online adventure games Says:

    But I guess the story that's often not told is the story of the entrepreneur whose business didn't come to pass, even if there was hard work and motivation. Not trying to be a pessimist here, but we often don't hear much of those stories. And that is not to say those stories aren't good either. I think we have as much, if not more, to learn from failure as we do from success. That's what I think being an optimist means. :)

  19. Kmjamal Says:

    This is an inspirational post. Thanks for motivating people i come under the same people :)

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