BRAINSTORM - Business opportunities during a recession

[deliux]

It seems that economical winters is coming :/ World recession seems inevitable and economists predict 3 to 9 months world economy recession. I am started to look in this period and thinking about what people would need. How to make this period valuable?

We know what happened previously and most recessions in many cases are very similar. So what according to history can be learned and adopted for this difficult period?

 

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[Jobless]

Liquor, lotteries, fast food, women's cosmetics/beauty (lesser luxuries and vices used as coping mechanisms/strategies) and boring everyday necessities sold at discount (a sense of saving felt by consumer).

Of course also: debt collection, debt counsel, bankruptcy lawyer, legal services in general, repossession of vehicles/homes, home/business security, resale of used vehicles/appliances, trash disposal, funeral home, insurance etc.

Look at businesses that could exist in your local ghetto, and you get the idea.

 

[Andy Black]

• Loans and remortgages.
• Jobs.
• Courses/certifications to get jobs or get started in business (possibly government funded).
• Courses for businesses (possibly government funded).
• Appliance repairs instead of new appliances.
• Used cars instead of new cars.
• DIY and renovating instead of moving.
• Bikes, plus bike clothing?
• eBikes, eScooters, plus clothing?
• Home gym/exercise equipment?
• Shopping around for cheaper utility bills, broadband, phone bills, etc.
• Cheaper phones?
• Second hand clothes, furniture, etc. Maybe (especially) online?
• Low cost purchases that make people feel they're treating themselves (e.g. a new phone cover instead of a new phone).
• For some businesses: trying to get enough leads and sales to stay afloat ... via DIY or hired help.
• Organic lead generation strategies? (Freelancers and business owners may have more time than money on their hands.)
• Online entertainment? Will more people be watching YouTube for instance?
• Low priced newsletters and courses that help people make money?

 

[NeoDialectic]

It seems that economical winters is coming :/ World recession seems inevitable and economists predict 3 to 9 months world economy recession. I am started to look in this period and thinking about what people would need. How to make this period valuable?

We know what happened previously and most recessions in many cases are very similar. So what according to history can be learned and adopted for this difficult period?

It's always a great time to brainstorm ideas.... But I would just warn to take economists (and just about everyone else's) opinion on where the economy is going with a grain of salt....."Experts" are great at justifying past action, but no better than a coinflip in predicting the future. Otherwise they would be busy making trillions on the markets and not writing articles for their boss.

If a -50% recession was an inevitability, the market would be 50% down right now and not ~20%.

 

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[deliux]

It's always a great time to brainstorm ideas.... But I would just warn to take economists (and just about everyone else's) opinion on where the economy is going with a grain of salt....."Experts" are great at justifying past action, but no better than a coinflip in predicting the future. Otherwise they would be busy making trillions on the markets and not writing articles for their boss.

If a -50% recession was an inevitability, the market would be 50% down right now and not ~20%.

I completely agree with you that "experts" predictions are very variable. But facts are here - high inflation and more expensive money. It never leads to something good. And money will become even more expensive. So I do not see how anything positive can be seen in this situation

 

[NeoDialectic]

I completely agree with you that "experts" predictions are very variable. But facts are here - high inflation and more expensive money. It never leads to something good. And money will become even more expensive. So I do not see how anything positive can be seen in this situation

All you have to do is consult threads from this very forum from the last few years to see a graveyard of posts pointing out "it never leads to something good" situations.... Just for them to turn into exactly that... something good. Selection bias stops you from seeing that it happens all the time. If you thought a worldwide pandemic that caused most governments to literally shut down the economy could lead to anything but "nothing good" in the economy.... I'm not sure what to tell you since you shouldn't be on this forum but instead counting your billions!

On the other hand, you may be right and we may sink into a deep recession. Why not? It does happen every so often, and it may just be this time. I'm just challenging the idea that you could even come close to knowing what will happen in the next few months. I love gambling as much as the next guy, but I don't try to call it anything other than that.

Drawing a parallel to business...... There is a reason why MJ and most other successful entrepreneurs say that at the end of the day you aren't the market and you have to test to see if the market wants what your offering. That no amount of preparation could guarantee a successful reading of whether people will want what you got. How crazy that you can't even predict a response in this tiny niche in a tiny corner of the market.

Of course, just like there are good business practices (which MJ teaches) to maximize your chances, there are of course good investing practices as well.....

 

[deliux]

All you have to do is consult threads from this very forum from the last few years to see a graveyard of posts pointing out "it never leads to something good" situations.... Just for them to turn into exactly that... something good. Selection bias stops you from seeing that it happens all the time. If you thought a worldwide pandemic that caused most governments to literally shut down the economy could lead to anything but "nothing good" in the economy.... I'm not sure what to tell you since you shouldn't be on this forum but instead counting your billions!

On the other hand, you may be right and we may sink into a deep recession. Why not? It does happen every so often, and it may just be this time. I'm just challenging the idea that you could even come close to knowing what will happen in the next few months. I love gambling as much as the next guy, but I don't try to call it anything other than that.

Drawing a parallel to business...... There is a reason why MJ and most other successful entrepreneurs say that at the end of the day you aren't the market and you have to test to see if the market wants what your offering. That no amount of preparation could guarantee a successful reading of whether people will want what you got. How crazy that you can't even predict a response in this tiny niche in a tiny corner of the market.

Of course, just like there are good business practices (which MJ teaches) to maximize your chances, there are of course good investing practices as well.....

Well we have the same point of view, just looking from different angle Maybe I expressed my self wrong. I am not saying that it is all bad. Any difficult situation creates new opportunities. That is why I started this topic

 

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