Name Coronavirus affected and impacted industries

eliquid said:
in Real Estate ( which everyone needs shelter, right ), times like this cause a lean stretch of income. People are getting laid off or let go, people are spending less and getting less.. So if I was in real estate, I would still be at the mercy of when the tenant pays.

If I had a few houses and the tenants couldnt get to the bank, or lost their job.. I'd have to WAIT maybe a week or another month while they are late on the payment with no recourse. You can't throw someone out over a week or month late rent. But you the landlord will be waiting on your payment if you get it at all. Sure you can kick them out later ( maybe 90 days ) but you went without the income from that place for 90 days. You might never get that income back if they never pay after getting kicked out.
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Different ballgame if you do low-income affordable housing (section 8).
 
eliquid said:
You all are thinking way too narrow.

Reminds me of threads back in 2008 where people wanted to know recession proof industries so they could jump into that.

Just about any industry can be recession proof or do well during stay at home quarantines.

You gotta be thinking, "how do I get the money".

If you are at the mercy of when a consumer decides they want your product, and also WHEN they want to hand you a debit card.. you will always be at the mercy of outside forces like COVID-19. Especially when people have to be present to get what they want.

This brings to mind places like grocery stores, restaurants, home builders/handy men, plastic surgeons, etc.

Now I know a lot of these industries have online counterparts. I can order online from Grubhub, or have Home Depot deliver to me, do online banking etc. But we are still in the infancy for that in large parts of the nation and world. Grubhub don't deliver where I live and most places like Home Depot don't deliver to me either unless I want to pay a humongous fee.

So keeping with that, you start to narrow things down to ONLINE industries or an online focus to trad. offline industries.

Now, lets revisit the, "how do I get the money" part...

In all the industries above ( even Amazon ), the consumer decides when to pull out their card and when to hit the payment button.

But what if you already had their card ( prior to the recession or outbreak ) and could bill them without them hitting the buy button?

Yeah, I'm talking SaaS. And SaaS is online.

Sure at some point the consumer had to decide when to sub to your SaaS. But unlike other industries, the purchase is every 30 days automatically. Not one purchase from Home Depot on Jan 12, then another when they feel like it 180 days later.

You don't have to ask the customer if you can bill them. You don't ask the customer if they are ready. You don't ask anything, you bill at the agreed rate from prior and collect the money. Nothing ( outside forces ) stops it.

Sure, a customer COULD go in and cancel or end the sub.

But how unlikely is that? It's very unlikely, at least not for a few months. I can't share why or how I know this, but you will have to trust me on this.

However, now you are at the mercy of when they cancel. Instead of at the mercy if they spend in the first place.

Which side of the fence would you rather be on?

in Real Estate ( which everyone needs shelter, right ), times like this cause a lean stretch of income. People are getting laid off or let go, people are spending less and getting less.. So if I was in real estate, I would still be at the mercy of when the tenant pays.

If I had a few houses and the tenants couldnt get to the bank, or lost their job.. I'd have to WAIT maybe a week or another month while they are late on the payment with no recourse. You can't throw someone out over a week or month late rent. But you the landlord will be waiting on your payment if you get it at all. Sure you can kick them out later ( maybe 90 days ) but you went without the income from that place for 90 days. You might never get that income back if they never pay after getting kicked out.

But SaaS?

I already got the credit card and the agreement to bill them every 30 days. The landlord doesn't have this in most cases.

And sure, as a SaaS I might bill you and your card not have the funds, but at some point funds will hit the card ( debit ) or credit and I can try again later. Every day for a month later if I have to and get the funds until you actually cancel.

So, how can you apply this to your other industries?

If you are in retail, you could do like Amazon and have the "auto ship and save" where they send you X product every 2 weeks. Excellent idea from Amazon there.

Those auto ship monthly clubs ( beard oil of the month club ) have the right idea too. Im sure most consumers right now are still getting those here in corona virus times.

If you're in telecom, you could do auto billing for a 10% discount. A lot of telecoms do this already.

Most of the issues you see with downturns in industries, are because those industries don't normally have a way to keep captured the "billing" part. They rely on when people feel like they want to spend.

When people don't feel like spending and you can't grab that money, that's when you get butt raped.

Surviving something like this doesn't come down to industry. It comes down to who has the ability to charge cards, get cash, and do so frequently without waiting on the consumer to decide.

This is why you see SO many industries moving to "online" type of features now ( Order groceries online and we will ship them to you ) and auto recurring products. They finally figured out this is how you make real money.
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For real estate, don't rent to dead beats. Do a background check. If they're young, have their parents co-sign for them. Don't buy a house in the hood. It's pretty simple.

For the SaaS, you bring up a good point but I think it can actually be improved upon. Your point is that a SaaS already has purchase approval, which would make it more resistant to a recession, because the customer needs to end the rebill.

It'll be better if the SaaS was a B2B SaaS instead of a B2C SaaS. Simply put, if the software was something that's required for a business' everyday operations, they won't change to a competitor's software anytime soon, even for a price discount. Doing so would require writing new SOPs, re-training the employees, and so forth. Software changes at the enterprise, corporate, SMB level are costly, time consuming, and a headache.

So, as the owner of a B2B SaaS, one that targets more than freelancers/sole proprietors, not only would you have the credit card authorized already, it'll take them a lot of work to switch to a competitor!
 
You guys focusing on the RE part of my example are missing the larger point in the example. LOL

But, plenty of people that have excellent background checks, co-signers, and live in good areas about to have $0 money coming up in a few weeks and wont be able to make their rent though.
 
eliquid said:
You guys focusing on the RE part of my example are missing the larger point in the example. LOL

But, plenty of people that have excellent background checks, co-signers, and live in good areas about to have $0 money coming up in a few weeks and wont be able to make their rent though.
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My tenants pay with student loans :cool:
 
Ebay is sending out emails about "Home Gyms" and "Home Offices". Use that type of knowledge to your advantage. Assuming you've been collecting a email list you can create content around these subjects and hit that send button for profits!
 
For the past few years, I've built a profitable freelance biz by managing FB/IG campaigns for clients.

However, this pandemic has pretty much halted the new business coming in as people aren't keen on starting up campaigns during this time. I need an alternative way to make money and so I've come back to this site for inspiration and help. Ideally, I'd like to find a cheap or free way of starting to generate income.

However, my skills are limited to mostly paid traffic on social network platforms like FB/IG/Google. I'm also a good copywriter with rusty front-end dev skills. I'd like to learn to code to use bots and grow bot armies but I don't know how long something like that will take to pick up.

With a background in affiliate marketing, I'm also attracted to returning to that arena and using the traffic leaks/affiliate programs combo to make some extra dough. However, the thread on that was written back in 2015. Is the Traffic Leaks Boot Camp still a viable way of making money?

What other methods would the experts recommend for creating secondary revenue streams during these troubling times?
 
@finnegan, are you sure that all clients feel this way? Maybe other sectors and different clients are booming and now need someone to help them move on their new momentum?

Like two months ago, no one cared about surgery masks, now they're the hottest item in town. I would wager that many such companies have no idea about online marketing, online communication and online identity, but now would be a golden oppurtunity for them.

I think for the most part, this "crisis" is more about reinvestment than depression. Some businesses are absolutely booming. Home office, home gym, essentials, etc.
 
"Back [after 9/11], U.S. carriers saw 12 straight months of year-over-year enplanement declines. It took 22 straight months of year-over-year growth to reach pre-9/11 levels. By comparison, the financial crisis and recession led to year-over-year traffic declines for 18 months, which took two years to recover from." from https://www.barrons.com/articles/airline-demand-coronavirus-outbreak-911-attacks-51583960866 .

I hope you guys are strapping up for some hard times ahead! If COVID-19 is similar to the recession created by 9/11 and the housing criss, we're gonna be in some thick shit for awhile.

My company projected 3 months of no sales and a slow recovery. We have a few million in cash. I sent the news article to the CFO. I hope they re-plan the recession.
 
COVID-19's impact on eCommerce: Retail Pulse

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Spending AND revenue is increasing for luxury goods!

I don't think Comrade Colonel Bernie Sanders is going to like this news!

"Millionaires Billionaires shouldn't exists!"
 
I said this on my own personal post. I thoguht sales would go down but sales trends are going up. I'm going to make one of my biggest article posts to date this week on a high powered site, I am just getting to test out. The last one I had like this, skyrocketed sales for two weeks.

It's also an important time to highlight why, whatever you are selling, is a good thing to have during the pandemic. Those are big points i'd believe in this time.
 
How is luxury spending growing? People making bad decision and spending their money? Rich people getting bored? Looking for relief?

Intresting, did not expect
 
Marko said:
How is luxury spending growing?
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Of the top of my head most luxury items, outside of fashion and auto, are used inside your home. A bigger TV, faster computer, King sized bed, LazyBoy Couch, Food processor.

i think we have to dive deep on what they consider luxury, cause most people automatically consider a fancy watch, car, or clothes as the primary luxury items and that is it. But a pool is also luxury. Believe it or not a microwave is considered a luxury according to renters agreements.

If they are using the logic of stuff that is not absolutely necessary - than a ton of things you but besides rice and beans are luxury. They are also advertising that on Facebook and Instagram according to the chart, so you know absolutely ANYTHING advertised on the FB/IG platform is probably 100% not needed and therefore a luxury.

It’s also not just rich people. Regular people have a lot more money then they realize. They are still buying $1,000 iphones - just putting it on credit. In the grand scheme of things do you really need a $1,000 phone? 15 or 20 years ago if you hear people were buying $1000 phones you would have though people in the future were crazy.

Looking further at what is being reported a number of the luxury brands are using discounts for the first time. So like I talk about in the Quarantine checklist - negotiating better rates, people are taking advantage of slow sales to get stuff they were waiting for.

The fact that the government is going to going through great lengths to print money and even giving out foregivable loans to businesses means soon a lot of money will be in consumer’s hands. So it might be a great time be ready to get your piece of the pie.
 
Another thing people selling stuff might want to take advantage of is the long lag times from Amazon (who have decided that necessary items now take priority unless you sign up for express shipping). So it might be worth talking to local businesses about featuring their items with next-day delivery (or something along those lines).

Second-hand stuff as well. People are trying to raise hard cash and looking at what they can sell. I just bought a Nikon lens and a Rode mike from people who had just put them up on a local site within the last day or two. (They are for work and I had them down as future purchases, but did I need them right now? I don't think so...)
 
CCarter said:
i think we have to dive deep on what they consider luxury, cause most people automatically consider a fancy watch, car, or clothes as the primary luxury items and that is it.
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Right, this was my mistake here, I read luxury and thought of fancy clothes
 
The National Association of City Transport Officials (NACTO) says they are seeing an “explosion in cycling” in many American cities.
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Also apparently been booms in the UK ("We’re out of stock.") and Australia (“We’re the new toilet paper and everyone wants a piece”)...
 
It's about time americans discover that biking is the best way to get around in big cities. You do need biking lanes though.
 
Any of you who do cold calling have realized how much easier it is to contact business owners now that their business has been shut down for months and they are excited about any calls they get. A great opportunity for us all.
 
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