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"And whosoever fears Allah and keeps his duty to Him. He will make a way for him to get out from every difficulty. And He will provide from sources he never could imagine."
- Surah 65 At-Talaq 2,3

Wednesday, 15 October 2008

Economic Recession : Look for Opportunities in the Negative

Many bloggers are experiencing fear during this time. Those who have been cheerleading the stock market have lost their credibility. The financial crisis has destroyed a lot of credibility of the most prominent financial ‘experts’ and the market is now looking for new experts to lead us with practical information about how to deal with a recession.

While many industries shrink in times of economic downturn others grow. In Recessions some industries boom - position yourself in them’. Did you know the entire cosmetics industry was born in the depths of The Great Depression? It’s true. Seems that offering ladies a little inexpensive luxury made the people who sold lipstick, rouge and eye makeup extremely wealthy. So did products that helped people’s food money or gas money or health dollar go farther. Because even in the worst of times, people still have to eat and move around.
I read an article that there had been a sharp increase in search traffic around topics related to financial advice, budgeting, employment advice etc. Starting blogs in these types of topics could be a wise move at this time.
When times get tough be persistent in your blogging. You can’t get success in just a week. Work hard work smart, re evaluate strategy, creative and work in team. Build our social networking don't just depend 1 or 2 only. Perservance in your blogging will pay in your future.

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51 comments:

  1. Syukur.. i just saw your twitter notice.. yay.. 1st.

    Pak bOno, i will come back and comment this post later.

    just trying to secure my spot for now. :)

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  2. telecommunications industry will still booming even during the downturn...in fact it will booming during those period. When people are worried, they will call more :)

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  3. Congrats Rizal for being the first commenter.. Keep on twitting! I also got the news of your update there :)

    I certainly did not know that the entire cosmetics industry was born in the depths of The Great Depression. Thanks for the interesting information.

    I also think that this current economic recession will stay for a while. Since the banks will tie up their lending policies, this is the best time to start saving instead of further borrowing money from the bank. Make sure you are not overspending and keep your credit card for emergency usage

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  4. Well, that certainly a point there Rizal. Hehe. I indeed call more nowadays :)

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  5. OH my.. I really sorry ROSLI. I misread your comment and thought it was RIZAL. Sorry for my sincere mistake!

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  6. Congrats Rizal...I think now we know the important of Twitter...it can give us the latest info on who posting latest article and be the 1st commenter.

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  7. Rosli I agree with you especially on SMS. The cost of telecommunication is going down and more people is using globally. Google will introduce their latest Android mobile concept. I belief we can gain something from this huge industry...BUT what and how???

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  8. Wah Rizal ni, semua dia first commenter, clap clap Rizal! :)

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  9. Haziq in my opinion saving is not the solution but spend wisely and maximize the result is the best...how can we spend same amount and giving better result.

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  10. Bono, me too now a bit worried abt the current situasi ni! I try not to use my credit cards so much nowadays, bayar pakai cash semua, esp since banks pun dah increase rates everywhere eh? ;)

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  11. Marzie Rizal really make use of his twitter. When ever I have new posting he will notice on his HP...Mantap deh!!!

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  12. Bono, dropping MPG first, be back later with Mariuca. Ni pun tgh busy replying comments at my blogs, see ya later! :)

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  13. Marzie honestly I prefer debit card. We really have to duduk bersama and think how to work in a team to increase our online INCOME. Kita tak akan bisa jadi JohnChow or Problogger if we work elone.

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  14. I think you are quite right in a certain extent. Anyway, my brother already start using his debit card more often now. I am glad he realize the important of debit card especially in this current situation

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  15. about expendable post and related post, I think I tweak my blog by using help from Blogger Buster, in which I can see the link in your blogging resource's list. If I am not mistaken lah :)

    Anyway, you can search about the related post code in John Chow's. Or the expending post in Hactro's Space. I am sorry for not being able to leave out the links. I just reinstall my firefox. And unfortunately I lost most of my bookmarks. I hope this will help. Do let me know about the progress later. If I am not too busy with the preparation for my test tomorrow, I will certainly offer the help :)

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  16. Haaziq thank you for the info. Yes I have both links. I'll do my search. GOOD LUCK for your exam. For me student time is the best time...really fun...without money pun bisa HAPPY.

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  17. I do not think that economic crisis can effect bloggers..

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  18. That is an excellent strategy Pak Bono! and my opportunistic skills need to be polished. LOL!

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  19. Eh Bono!! Lama dah takde update pasal JC kat sini kan? Inspirasi semua bloggers yg nak jadi millionaire tu he he! :)

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  20. Marzie JC is always come out with new ideas and he already have huge follower. Look at his RSS subscriber and twitter follower...emmmm. He earning more the USD30K last month but still ranking no 3. I can't imagine how much 1st Ranking Problogger earning monthly.

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  21. Pak bOno,

    speaking of twitter ,

    at home, i cant see the updates unless i refresh the page, since installing twitterfox would make my firefox go haywire (must be something to do with windows update :( ).. but i have made it a habit to simply click refresh for every 10-15minutes.. that is how i keep seeing new updates..


    but, in the office, since i am installing twitterfox, i can see new updates being delivered.. automatically - like seeing people online and offline in ym..

    hehehe

    you should use twitterfox.. since, i add it, knowing from your post what..

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  22. Pak bOno, using twitter is also part of being the opportunist scheme..

    i am glad that i am using twitter. now i can really know what my friends are doing and have a small glimpse of what other bloggers are thinking. :)

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  23. Pak bOno,

    I think those successful people always see the glass as half-full in what ever situation, taking the best possible opportunities.

    Economic recession is also a time for us to make some changes on our living lifestyle. :)

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  24. I couldn't agree with you more Bono. Blogging isnt a get rich quick scheme. It entails a lot of hard work and of course smart work. Research and practice plus proper marketing are the general keys in making it in times of crisis and competition. And of course learning to listen to your market niche's recommendations too :)

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  25. Blogging in the first place has to be fun for the one making it. If your initial input is to get rich it wont work and it wont be fun :) but if you approach it with the desire to share and be original about it then you'll definitely strike a note and a market in this vast internet highway :)

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  26. This is a wonderful article. and it is so very very true.

    Although millions will lose that also leaves doors open to others who didn't have a chance before.

    You gave some very good points here. I enjoyed the read.

    And thanks for dropping over and correcting me this morning.

    Havea good one Bono!:-)

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  27. Creativity is the most powerful key-words to beat any type of crisis, as I've been through this term of crisis in my personal life, so I suggest to utilize our only one 'brain' to be more creative in every aspect of our life!!

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  28. Aiyoyo!!!! 30k last month astaga!! So lucky la JC but of course, his success all comes with hard work too eh? Sigh, bila la nak jadi OKB ni he he! ;)

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  29. Bono, here with MPG, have a great weekend! :)

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  30. Rizal I already install my twitterfox...memang mantap deh!!! like live telecast deh. We know all our members activity. Fantastic.

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  31. Rizal I agree we have to look from different perspective and must be creative. Balidreamhome give us very GOOD tips. Thank you

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  32. Australia is facing economic recession too. Falling down of the dollars makes me realize going out to malls every weekend is a big waste since we can't stop spending. Offers from advertisers getting to low as I've noticed recently. Too bad I'm really not into savings before but now I'm starting. Nice post Bono.

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  33. Metz Blogging is not rich quick scheme but if we do it right we can earn good income faster then doing traditional business...but not all blogger blogging for money some of them already have enough money so they blogging just as hobby, diary and express their creativity.

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  34. Shinade thank you. I'm sure every of us have our own creative ideas to go through this tough time. I don't think the economic problem will solve soon. we really have to work and face the problem together...togetherness will become more strong and stronger.

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  35. Marzie JC earn USD38K last month and the total for this year is more then USD400K. Kalau di sini udah Milyar deh!!

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  36. Hi Bono, well said! as for me, I'm trying to cxl all my credit cards :-D

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  37. Monica thank you for dropping by. I agree with you better cxl or keep it unless we have extra to pay the interest.

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  38. Ha???? 38k??? 400k???? Fulamak! Crazy la the fella, mesti best jadi JC! Dah la famous!! :):):)

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  39. Back with Mariuca now Bono. I'm almost done for both blogs today, Friday night nak enjoy, taknak drop aje! :)

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  40. Yeeeha! Am back on ur PW now! :)

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  41. Hi Bono!!!
    Sorry tak come earlier.. ini pun dropping jer... will comment soon ya ;)

    Have a great weekend :)

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  42. Marzie my mobile connection not so good so I never push myself ...only drop to my favorite list.

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  43. Marzie today I saw JC punya twitting (using twitterfox) he said "I'm going out for lunch with family. We all jobless not working".....not working but the income ...woooww

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  44. LJ come back you are free. I'm sure you are very busy. Take care.

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  45. Hi bro thanks for visit! Btw i don't know about label code, You can ask question to the author here the link: http://themelib.com/2008/09/arthemia-magazine-blogger-template/

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  46. I agree! The crappy economy definitely has made a huge change in what folks are starting to look for. For example... Dollar Tree stocks are going up up up while everything else is going down. Why? Because people are buying cheaper things and everything there is a dollar. I'm glad gas prices are down. Who knew all we had to do was kill the economy to get gas prices to decrease? haha

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  47. I fear that my blog is not qualified to comment on any such advice, financially speaking. But I do hope that people can come to my blog to escape their worries, if only for a moment, and smile.

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  48. I guess that's what makes me a bit naive.

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  49. Although I do have the image of the ostrich with my head in the sand. ;)

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  50. Economic is in down turn trend. It is a time for us to learn something new.
    It is good to join some social network.
    Have a great day.

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