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At the brink of an economic recession which will forever change the way we live, how secure is your job?
OK, you know this one:
It’s a familiar graph.
But for most of us that extreme upward trend has never applied to these:
Corn
Soy
Wheat
The price of food is rising at an incredible rate.
The managing director of the Asian Development Bank puts it like this;
"We just have to accept the era of cheap food is over."
As rice went over $25 for the first time in history and a rice shortage hits the US, two large US retailers rationed food sales.
These, my friend, are interesting times, to say the least. And it’s only just begun…
As we start to tighten our belts a wave of bankruptcies rolls over retailers across America.
Sure Money For You
It’s my opinion that the above will mean an increase in money spend on the web, both by consumers and producers.
As budgets tighten an Internet connection is the sole subscription which delivers the most bang for its buck. News, video, music, games, books, contact, forums, tips, information, fun and what not — all for the same price of connecting your computer to the web.
Most "rewards", from a drive around town to a trip to the mall and from catching a movie to eating out, will now cost at least twice as much; (1) gas, (2) rising food prices. Getting something from somewhere will actually be very expensive and in most cases you’ll be better of having it come to you. Online sales (those small "rewards" we feel we’ve earned) will be on the up.
As money is going towards the web, producers will want to get their slice. They’ll want to optimize their pay per click and they definitely will want some of that free gold; organic search results.
Prices may change — but your future is secure.
Secure Money For You
Donna Fontenot, who recently did a guest post here, advises those without current means to make money from the online economy to start an online ebusiness:
"Now is the time to start your ebusiness. It may not help you financially in the short term, since few new sites make much money right away. But you’ll be that much closer to pulling a profit from it later on when you need it most, if you start now. While you still have a job, it can begin to supplement your income, helping you pay the extra costs for gas and food."
Freebie Tip
Anything that is real added value will become a huge differentiator. Pennies will be pinched and anything you can add to the consumer’s budget is a step into the direction of a sale.
Does your client, or do you, have free shipping? Calculate the average shipping cost. That is the value the client is getting so make it clear: "FREE $20 in shipping cost".
Go back, calculate again. Maybe it is much cheaper to say "FREE INSTANT $20 DISCOUNT ON ANY SALE" but have people pay for shipping?
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As posted in Opinion.
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April 25th, 2008 at 8:20 pm
This is a clever post and I especially enjoyed the various graphs…”corn” indeed. Stumbled.