12th May 2020
On the 3rd of September 2018, I wrote a blog post titled: Tough Economic Times, What Can You Do? I wrote about how South Africa had an uncertain economic future (as did the world at the time too), and my suggestion was to rely on ourselves by harnessing the power and reach of the internet.
I encouraged individuals and groups to get together and build themselves a website, a blog, a video podcast show, an e-commerce store, write a book! Anything that uses the internet.
Well, 1 and a half years later, and I am sure no one could expect the dire economic times we are in now, as well as facing. Covid19 and its lockdown culture by governments around the world are setting us up for an unprecedented economic collapse (in my personal opinion).
It's not all bad news. Some of the greatest businesses in modern times were forged during difficult economic times. General Electric, General Motors, IBM, Disney, HP, Hyatt, Fed Ex, Microsoft, and Electronic Arts all were founded a technical recession over the last decade. More recently, Uber was founded in 2008.
Sure. You might be saying, "I don't have money to start a business", and that may be true. But let me tell you what the founders of those businesses didn't have.
Walt Disney didn't have social media to market his entertainment world, they used television and conventional expensive marketing.
Fed Ex didn't have a digital tracking system of their couriers, they used pens and paper.
Microsoft didn't have a "download here" link for their operating system and had to distribute physical copies.
A handful of people had an idea of a computer was, let alone a company specializing in computers and software like IBM.
With perspective, there are a lot of things that pioneers before us didn't have at their disposal that we have at our fingertips in 2020.
Within a budget of R140, and a bit of time to learn and study, you can launch a website that literally anyone on the entire planet with an internet connection can visit. R130, that's it. R79 for the domain, R59 for web hosting.
I am often asked, "what's a good business I can start on the internet to make lots of money?" My response is, what is your passion?
What do you obsess about most of the day? Is it football? Is it cars? Do you obsess about cooking or baking? Or how about that newfound passion for blockchain technology?
Maybe your passion is a bit "crazy" or "stupid". Well, check out these crazy businesses online. There are farmers who make more money streaming their farm life than they do in actual crops. Or how about Snoozester. They provide a service that was popular in the 90s in a wake-up call service. They make close to R80,000 per month in revenue since 2004!
In closing, I guess my message can be summarized in the following points: