How to make money online during an economic downturn

We are very likely looking at an economic recession. However, rather than sink into a depression, it’s time you considered how you’re going to survive and thrive. Here are three ways you can do just that:

1.Start Selling Online

In general, people are more inclined to buy second-hand during a recession. Therefore, an easy way to make money during an economic downturn is to sell old or unwanted items. Consider objects with value such as electronics, jewelry, furniture, or clothes. 

There are several options for selling your items. You can use an online auction site like eBay, or if you have something rare or collectible, you can try a specialty website. You can also utilize second-hand specialty sites like Facebook Marketplace or Varagesale. To increase your chances of making a sale, consider listing your goods on multiple sites. Just be sure to remove duplicate listing after an item is sold. 

You could also set up your own website. Learning how to create a website for your small business is relatively simple. Several eCommerce platforms are quick to set up and easy to configure. This option also lets you offer multiple payment options and the opportunity to expand your product offerings beyond second-hand items. Additionally, you can add advertising and affiliate marketing options to your site to increase your revenue.

You can specifically build authority affiliate websites that can bring in lots of great money.

When pricing your items, do some research into what similar goods are being sold for. You should consider the selling price of the piece when it was new, as well as the going rate for the item second hand. Anything you sell should include a description and a good photo. The more care you show in the displaying of your things, the more likely you are to make a sale.

2.Start a Podcast

Podcasts are taking over. They are inexpensive and straightforward to create, and they offer a variety of revenue streams. 

One way that podcasts make money is through sponsorships. Sponsorships work through a cost per impression model. The company that sponsors your show pays an agreed-upon amount per 1000 downloads. In return, you promote their company during your podcast.

Another way to monetize your podcast is through paid advertising. Companies pay you to play their advertisements during your podcast. To use this option, however, you’ll have to show potential advertisers that you have a large enough audience to warrant their business. You can also use an affiliate marketing model, whereby you promote specific products or services on your podcast and earn a percentage for every purchase made as a result of your promotion.

It’s important to remember that part of monetizing your podcast is building an audience. This means you will have to have an advertising strategy. In addition to traditional marketing resources like social media advertising, you’ll also want to use a podcast aggregator. A podcast aggregator, also known as a podcatcher, is an app that plays podcasts. Popular podcatchers include Apple Podcasts, Google Play, Spotify, TuneIn, iHeartRadio, and SoundCloud.

You should create an account on each of these platforms and submit your podcast to each one. This will help people find your show as they browse their favorite app for new podcasts. To encourage new listeners to choose your show, prompt current listeners to leave reviews. You should also ask your listeners to share your podcast with their friends, as this will widen your audience.

Another way to advertise your podcast is to network with other podcasters. The easiest way to do this is to join a community of other podcasters. Some popular communities include Podcast Hackers, /r/podcasts, Podcasters’ Support Group, Podcasting Technology Resource Group, and The New York Times Podcast club. Using these communities, you can meet podcasters with audiences similar to yours and offer to cross-promote. 

3.Take on work from home jobs

You can earn extra money by picking up work on websites like Upwork and Guru. These sites offer simple tasks that allow you to make money from the comfort of your home. Clients on these sites are most often looking for people with skills such as:

  • Tutoring – if you have a webcam and a passion for a particular subject, you can get jobs tutoring students in school subjects.
  • Coding – dependable coders are always in demand.
  • Video editing – everyone from YouTubers to marketing agencies needs someone who can competently edit video and sound.
  • Copywriting – marketing companies and websites need people with a flair for the written word to create content.
  • Social media management – put your social media skills to good use by helping companies and professionals to manage their accounts.
  • Data entry – a lot of companies need help with this task. If you’re detail-oriented and good with a computer, there are many opportunities to get work doing this job.

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