The online businesses that you can start in a recession

The COVID-19 pandemic is wreaking havoc on the global economy by bringing the world to a standstill and preventing forcing many businesses to close their doors.  As a result, many people have started searching for alternative ways to make money from home to survive during this crisis.

Though many of us are worried about the future, I’m 100% certain now is the perfect time to step your foot in the online world. You are at home all day and have all the time in the world to develop your skills and start working online today.

So, if you want to know some recession-proof business suggestions, keep reading…

Facebook Advertising

Whether you are looking for a side hustle that earns thousands of dollars of passive income, or to start a full-time job working from home, Facebook Advertising can be a very good option.

Yes, you can turn this social media platform into your money-making machine…but how?

Well, first you have to learn how to be efficient in Facebook Advertising.

You can learn this high-income skill by taking an online course or watching free YouTube videos.

The next step is to find businesses with money that need your skill, and you can use the software MarketerMagic to do this much faster. This software even has a trial period of 7 days.

To find these companies, you can use the MarketerMagic tool, Many Leads, To speed up the process significantly. Just open the tool, enter your campaign name, enter keywords for the type of business you want like “Real Estate Agents”, enter the location, and click “Show Leads”.

You will then be given thousands of entries of real estate agents with their email address, contact numbers, and social media profiles.

Now that you have all the information about the businesses, you have to reach out to them using their email address or messaging them on Facebook. You have to pitch them your service, we suggest you start by offering to run ads for them completely FREE.

By showing the businesses that you can deliver the results before they can pay you, it makes them pay you so much easier and so much faster.

Affiliate Marketing

If you want to build a passive income, one of the best options is to build an affiliate marketing stream. There are many software products or online courses that can offer you commissions if you make people sign for it.

The correct way to do affiliate marketing is not to talk about the product directly. You can make tutorials like teaching people how to make money, then subtly add the software affiliate link wherever it naturally fits.

Here are steps for you to start affiliate marketing for software:

• Create tutorials on Youtube teaching people how to make money.
• Identify high volume keywords.
• Recreate videos that are already proven and worked on Youtube.
• Include the affiliate software link in the description.

Ecommerce

You don’t need any experience, much money, or a big team to starter a successful online eCommerce business  All you need is a positive mindset, determination, and a Shopify Dropshipping or Amazon Seller account and you’re good to go.

To find out what the market needs and what you can sell in this situation to make your business profitable, look below.

Amazon FBA

You can start an eCommerce business by selling products on Amazon. As an Amazon seller, you have two options: FBA fulfillment by Amazon where products packaging, shipping, customer service, and returns are taken care of by Amazon. FBM fulfillment by Merchant where you have to fulfill your order by yourself.

More than half of Amazon sales come from third-party sellers. Amazon FBA business needs you a minimum of $1500 budget to start. So, if you are on a razor-thin budget then it might not be you. But, if you have the money then you can leverage the top eCommerce platform in the world to set up your own business.

Shopify Dropshipping

If you are unaware of the dropshipping business, it is the process of selling products from manufacturers to customers by raising the price. Shopify is the platform that makes work easy for dropshippers.

Dropshipping requires less money to start as compared to the Amazon business. You do not have to pay money for the inventory.

Accounting Services

Whether it’s a small business, medium or big, or even freelancers, everyone needs accountants, even during this next economic downturn. For this reason, now is a great time to start your own accounting business online if you’ve not already done so.

During the recession, the need for accountants will increase as businesses need to keep the finances in order and keep paying the taxes. Accountant professionals are needed by small businesses to make sure they are getting all the tax benefits, to maintain the cash flow, and get a clear understanding of income and expenditure.

Set up your own website, be active on social media, set up Facebook ads and Google ads to spread out your name, and reach more people.

Virtual Assistant

Small businesses mostly hire virtual assistants from those parts of the world where they find it cheap. It is a win-win situation for both parties.

So, you can start giving your virtual assistant services to more developed countries.  This way, you will be earning more money than you will be earning while working for someone in your own country.

You can join relevant Facebook groups, sign up on Upwork or Fiverr, and find businesses that are looking for virtual assistants.

Online Tutoring

If you are passionate about teaching and an expert in something like coding, mathematics, or biology, or basically anything, you can start online tutoring today. With COVID19 keeping people stuck at home all day, you’ll never be short of opportunities to find someone in the world who wants to learn what you teach.

If you are good at English, you can teach someone online how to speak and write in English and get paid. There are many websites like Tutors.com, TutorMe.com, where you can actually sign up with what you are good at and start earning money by teaching.

Social Media Management

Everyone is aware of social media and why it is important for businesses, but you might not be aware of how much you can earn from social media management.

You can work as a social media manager for businesses and, as you gain more and more experience, you can start earning more money and securing more clients. With time, you can scale your business and hire virtual assistants to help you run a social media management agency.

What you will do as a social media manager? You will be managing social media accounts for entrepreneurs, small businesses, etc. You will post content like viral videos, memes, and short video content on their various social media platforms.