The Internet allows you to sell anything to anyone at anytime and at anywhere around the world. Apart from that, it also allows you to work anywhere, as long as an Internet connection is available.

This sales channel has turned into a meal ticket for many people, while others have made their fortune through dot com start ups. Self-made millionaires are turning younger and younger, courtesy of the Internet. The speed of growth that was not possible before is today a reality.

The recession is real and is just around the corner. Businesses and financial systems are shutting down. Many are losing their jobs and their houses. Is there still a place for online business?

I think there is. I think exploring online businesses and online income is one way to prepare for the worst. After all, low start up costs, a huge international market as well as the reality of passive income make this a viable option for many people. Your success truly depends on the creativity in your ideas, and your sheer determination to reach your goals. Your objective is to provide value to your customer and have them pay you for your services or products.

1.    Information products

We all have our personal encounters and experience. Some of us are masters in what we do. What is your specialty? Is there something you know that others would love to learn?

First, make a list of knowledge, skills and information you have acquired over the years. Then, think about what people would be seeking for during a recession.

Perhaps they would look into ways to clear debt. Alternatively, they may want to explore alternate sources of passive income. Some people may consider moving abroad in search of greener pastures. Others may consider launching their own business, while some may decide to explore other career options.

2.    Blogging for dollars

This is similar to selling information products. The only difference is that you launch your own blog with a specific target market. Also, you may match this with your experience and share your thoughts online. You may also interact with your readers and be a guru in your area.

Ultimately though, most bloggers obtain their revenue from advertisements, Google Adsense or by selling affiliate products over their blogs.

The thing is though, not all bloggers make money online. The key to profitable blogging would be the ability to provide unique content and build a group of consistent followers. Thus, search engine optimization and blog marketing strategies are essential efforts for a blog to turn popular.  My previous post, Blogging for Dollars - Why some bloggers succeed?, explains this in further detail.

Also, there are some blogs that don’t actually make any money directly, but function as a lead generator for the blogger who is possibly specialized in a specific skill or a product. This works well for the self-employed or freelancers who use blogs to showcase their talent, or to improve their credibility as an expert in a specific subject area.

3.    Freelance online

If you are a programmer, writer, or are great at administrative work, there are plenty of online opportunities waiting for you. This would be a good way to supplement your regular income, especially during a recession. Besides, you can also turn into a full time freelancer with a good balance of online and offline sources of income.

Read my recent article  on how to freelance online, for more information and ideas on freelancing, and which online freelance sites you can visit to look for work.

4.    Pick a niche, source at low prices, and sell at eBay

Are you an electronics whiz? Do you have a knack at sourcing for low price products? Ebay or other online auction sites are great marketplaces to promote your products. Again, with the stiff competition abuzz, you’ll need to find a way to differentiate yourself.

This could be done with a unique description of your product, or if you built it yourself, why you built it, and where you got the idea from. In auction sites, people are usually taken by stories or a history of a product. There was a story where a woman sold a toy in eBay for a huge profit just because she wrote a story on her experience in the supermarket trying to prevent her son from buying the toy. Additional information helps to add to the perceived value of a product, and thus helps in differentiation.

Keywords, keywords

No matter which online business you decide to venture into, the ability to pick and optimize the right keywords is of utmost importance. Your keyword is how your customers are going to find you. Read my previous post on How to Identify Niche Items to sell Online to discover simple methods to find the right keywords, and to market your product or website.