5 recession-proof business ideas
1. Baby products
Baby products are 100% recession-proof. It’s pretty hard to stop spending on diapers, formula, and clothes for a fast-growing baby. It’s even hard to avoid buying a toy every now and then. Parents will find other areas to cut back that are certainly less important.
A proven strategy to succeed in this market is to simply adapt trends from the adult world.
2. Health care
Why these companies will keep thriving is clear. People need health care to live, so even when income declines you’d rarely cut on this.
Plus, the industry as a whole is one of the biggest and strongest. There are more health care companies in the top 10 stocks than in any other industry.
3. DIY and repairs
When times are tight, one way to cut costs is to build your own stuff and repair yourself whatever it breaks rather than buying new things or taking them to a shop to be fixed.
Do you enjoy knitting, fixing smartphones, or woodworking? Start making videos and share them on Youtube and TikTok and make money from ads. Sell what you make on Etsy. Mention that you take commissions to create custom pieces.
4. Food and drinks
Just like health care, this category is something people can’t really cut their spending on. It’ll probably swift to different consumer behavior, with inexpensive items and cheaper restaurants increasing their sales. Keep that in mind when designing your offer.
5. Guilty pleasures
Even in the toughest times, people need to chill, disconnect and just feel good for a moment. That’s why sales of products such as snacks, candy, and alcoholic drinks always grow.
Did you know that Snickers and Three Musketeers were both introduced during the Great Depression? That should tell you how about everything you need about how the human brain works.
1. Baby products
Baby products are 100% recession-proof. It’s pretty hard to stop spending on diapers, formula, and clothes for a fast-growing baby. It’s even hard to avoid buying a toy every now and then. Parents will find other areas to cut back that are certainly less important.
A proven strategy to succeed in this market is to simply adapt trends from the adult world.
2. Health care
Why these companies will keep thriving is clear. People need health care to live, so even when income declines you’d rarely cut on this.
Plus, the industry as a whole is one of the biggest and strongest. There are more health care companies in the top 10 stocks than in any other industry.
3. DIY and repairs
When times are tight, one way to cut costs is to build your own stuff and repair yourself whatever it breaks rather than buying new things or taking them to a shop to be fixed.
Do you enjoy knitting, fixing smartphones, or woodworking? Start making videos and share them on Youtube and TikTok and make money from ads. Sell what you make on Etsy. Mention that you take commissions to create custom pieces.
4. Food and drinks
Just like health care, this category is something people can’t really cut their spending on. It’ll probably swift to different consumer behavior, with inexpensive items and cheaper restaurants increasing their sales. Keep that in mind when designing your offer.
5. Guilty pleasures
Even in the toughest times, people need to chill, disconnect and just feel good for a moment. That’s why sales of products such as snacks, candy, and alcoholic drinks always grow.
Did you know that Snickers and Three Musketeers were both introduced during the Great Depression? That should tell you how about everything you need about how the human brain works.
❤11👍1👌1
How to be morally strong:
1. Do not be afraid of loneliness.
2. Do not dwell on the past.
3. Do not give up after the first failure.
4. Don't let others influence your emotions.
5. Don't waste time feeling sorry for yourself.
6. Don't waste energy on things you can't control.
1. Do not be afraid of loneliness.
2. Do not dwell on the past.
3. Do not give up after the first failure.
4. Don't let others influence your emotions.
5. Don't waste time feeling sorry for yourself.
6. Don't waste energy on things you can't control.
❤10👍3
🙋 How to test the suitability of an idea for a business?
1️⃣. Formulate the problem you want to solve
Congestion can be solved by developing public transport, building new roads, or changing working hours to avoid rush hour. The problem of poor project management - new software or educational project for managers, etc.
2️⃣. Get to know your audience
The product will be used by specific people: teachers, developers, builders, managers, analysts or manicurists. Your solution should help them meet their challenges and meet their needs.
3️⃣. Study the competition
Direct are other products and services that solve the same problem. Indirect - those that claim the same resource, but offer different solutions. For example, for an educational platform, the direct competitor is another educational platform, and the indirect competitor is Netflix, which also wants to occupy the user's free time.
1️⃣. Formulate the problem you want to solve
Congestion can be solved by developing public transport, building new roads, or changing working hours to avoid rush hour. The problem of poor project management - new software or educational project for managers, etc.
2️⃣. Get to know your audience
The product will be used by specific people: teachers, developers, builders, managers, analysts or manicurists. Your solution should help them meet their challenges and meet their needs.
3️⃣. Study the competition
Direct are other products and services that solve the same problem. Indirect - those that claim the same resource, but offer different solutions. For example, for an educational platform, the direct competitor is another educational platform, and the indirect competitor is Netflix, which also wants to occupy the user's free time.
❤3👍2
Many assume that reading about what others do or watching from afar makes them knowledgeable. But reality is very different from assumptions. Until you start the journey yourself, day by day, step by step, you will never truly understand the sacrifices and discipline it takes. The surface always looks easy; it is when you begin the work that the hidden challenges reveal themselves.
❤8👍1
A typical morning for a billionaire:
• Awoke
• Got out of bed without delay
• Put away the phone
• 15 minutes charging
• Cold shower
• Read a book
• Healthy breakfast
• Set goals for the day
• Started achieving goals
You must treat yourself today as a person who has achieved success.
• Awoke
• Got out of bed without delay
• Put away the phone
• 15 minutes charging
• Cold shower
• Read a book
• Healthy breakfast
• Set goals for the day
• Started achieving goals
You must treat yourself today as a person who has achieved success.
❤10🔥3
One of the biggest mistakes you’ll ever make is waiting for the perfect time. There will never be a perfect time:
• Start that business
• Write that book
• Apply to that job you feel unqualified for
• Shoot your shot at that woman or man
• Fix that relationship with your family or friend
• Leave that toxic relationship
• Forgive the person who did you wrong
• Stop pretending coffee tastes good
The best time is always NOW! NOW = No Opportunity Wasted.
• Start that business
• Write that book
• Apply to that job you feel unqualified for
• Shoot your shot at that woman or man
• Fix that relationship with your family or friend
• Leave that toxic relationship
• Forgive the person who did you wrong
• Stop pretending coffee tastes good
The best time is always NOW! NOW = No Opportunity Wasted.
❤5👍3🔥2
7 Habits for Success:
1. Read everyday
2. Make your health a priority
3. Have an attitude of gratitude
4. Learn from people you admire
5. Plan your day, the night before
6. Keep your goals in front of you
7. Take action, even when it's scary
❤3
💡TIPS FOR STARTING A BUSINESS :
✅ Create a customer acquisition strategy.
✅ Narrow down your target customer.
✅ Develop a brand identity.
✅ Build your online presence.
✅ Generate and nurture leads.
✅ Set up your sales infrastructure.
✅ Identify your sales goals.
✅ Hire a sales rep.
✅ Get more out of your sales activity.
✅ Keep your customers happy.
✅ React quickly to customer issues.
✅ Keep track of touchpoints with customers.
✅ Create feedback loops.
✅ Create a FAQ page on your website.
✅ Create a customer acquisition strategy.
✅ Narrow down your target customer.
✅ Develop a brand identity.
✅ Build your online presence.
✅ Generate and nurture leads.
✅ Set up your sales infrastructure.
✅ Identify your sales goals.
✅ Hire a sales rep.
✅ Get more out of your sales activity.
✅ Keep your customers happy.
✅ React quickly to customer issues.
✅ Keep track of touchpoints with customers.
✅ Create feedback loops.
✅ Create a FAQ page on your website.
❤5🔥2
Dear Entrepreneur,
Invest in your people.
Train them.
Educate them.
Promote them.
Challenge them.
Believe in them.
Your team is a direct reflection of you.
Build them.
Put "❤️" if you found this post useful!
Invest in your people.
Train them.
Educate them.
Promote them.
Challenge them.
Believe in them.
Your team is a direct reflection of you.
Build them.
Put "❤️" if you found this post useful!
❤21
📈 How to sell correctly during a crisis (and not only!)
Evaluate how you work with clients
📈 In times of crisis and difficult times for a company, significant attention must be paid to working with clients. Perhaps you didn’t have such a need before, because clients found you themselves or you were content with what you had. But even if you've always been attentive to your interactions with customers, it's worth re-evaluating in times of crisis.
Improve the quality of service
📈 Excellent service means loyal customers. And loyal clients are, first of all, excellent professional employees. But it often happens that for some reason we carry careless employees with us, either expecting them to come to their senses, or fearing that we will not find a replacement for them. The advantage of the crisis is that it is easier to find professionals and many of them are willing to work for less money.
🤵 And finally - some practical advice from professionals
Tip 1
💡 In a crisis, in addition to problems, there are also opportunities that you just need to be able to discern and take advantage of them. For example, all projects that allow clients to significantly reduce costs or attract new income usually begin to grow during a crisis.
Tip 2
💡 I always advise everyone to put aside 30% of their income in the form of savings, so that in case of a crisis and possible loss of income, a person can live on these savings without nerves for at least one year and calmly search for a place to profitably apply their strength.
Tip 3
💡 Do you have money? Invest! The ruble exchange rate collapsed, and with it the cost of development and advertising, and employee salaries. If you have available funds, now is the ideal time to invest and get ahead of weak competitors.
Evaluate how you work with clients
📈 In times of crisis and difficult times for a company, significant attention must be paid to working with clients. Perhaps you didn’t have such a need before, because clients found you themselves or you were content with what you had. But even if you've always been attentive to your interactions with customers, it's worth re-evaluating in times of crisis.
Improve the quality of service
📈 Excellent service means loyal customers. And loyal clients are, first of all, excellent professional employees. But it often happens that for some reason we carry careless employees with us, either expecting them to come to their senses, or fearing that we will not find a replacement for them. The advantage of the crisis is that it is easier to find professionals and many of them are willing to work for less money.
🤵 And finally - some practical advice from professionals
Tip 1
💡 In a crisis, in addition to problems, there are also opportunities that you just need to be able to discern and take advantage of them. For example, all projects that allow clients to significantly reduce costs or attract new income usually begin to grow during a crisis.
Tip 2
💡 I always advise everyone to put aside 30% of their income in the form of savings, so that in case of a crisis and possible loss of income, a person can live on these savings without nerves for at least one year and calmly search for a place to profitably apply their strength.
Tip 3
💡 Do you have money? Invest! The ruble exchange rate collapsed, and with it the cost of development and advertising, and employee salaries. If you have available funds, now is the ideal time to invest and get ahead of weak competitors.
❤10
The 7 deadly mistakes:
- Pleasing everyone
- Repeating mistakes
- Short-term over long-term
- Compromise to fit in
- Wanting magic pills
- Losing sight of your vision
- Lack of alignment
Don't let these 7 self-performance sins affect your business or life.
- Pleasing everyone
- Repeating mistakes
- Short-term over long-term
- Compromise to fit in
- Wanting magic pills
- Losing sight of your vision
- Lack of alignment
Don't let these 7 self-performance sins affect your business or life.
❤3