To make easy money in a recession, you have to analyze the psychology of the aggregate economy and the nature of society and how it generally responds to a recession. Simpler becomes more appealing and extravagance becomes ugly to the tastes of the majority of society. This spells opportunity as simpler is also cheaper to manufacture and therefore larger profits are possible than when the economy was riding high.
Inflation becomes arrested too which means that conducting business actually becomes easier as long as you pay attention to sales and what your market segment wants, which is of course, simpler and cheaper. You have to remember a recession is a halting mechanism that government uses to slow down inflation. Sometimes it comes on its own in the form of some sort of collapse or another, but the result is always the same, to slow down the money makers and get peoples minds back to Earth. In an over heated economy, inflation becomes rampant and spins higher and higher without an end in sight, it actually takes a dramatic “slap” like a collapse of some part of the system to get it to stop spinning out of control and come down to Earth.
Keeping that in mind, here are three things that happen in a recession and what you can do to make some “sensible” but easy money from the needs these occurrences present.
- Borrowing money becomes harder and this creates gaps in the money market that creates opportunities. Not everybody who is not a bank who loans money is a loan shark. If you have cash you can lend money against consumer assets for profit.
- People get a gloomy outlook and turn to the entertainment industry for relief. You don’t have to be Steven Spielberg, but getting involved in this industry in some way can put you in a position where it can be lucrative.
- People turn to staple basics and for this reason, styling and culture changes distinctly. Keep this in mind when considering offering products for sale. Functionality sells like hot cakes, but anything seen gaudy and even remotely decadent can be seen as over priced even if it isn’t.
By: Terry Hart
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