Opportunities During Economic Downturns? - page 5.

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Quote from: 0t3p0t on February 08, 2024, 10:14:36 AM

One good example here is what had happened during pandemic where some economies has been crippled but for some people they can see opportunities that made them millionaires right now because they have done something in perfect timing and of course the smart idea they have discovered and works as planned. These smart people knows how to solve other peoples problem and bring solution to it.

so many business that are selling digital goods like subscription growing so fast back then.
but right now those companies are having significantly lower customers so I think some business does indeed get big when the pandemic since people are spending most of their time online anyway but slowly the business also dying once the pandemic subsides.
but because of that also we have significant increase in development of technology so many people are developing technologies left and right and as a result is right now we got many AI, many improvement in microcontroller and so on.
can't really say that an opportunities for many of us that don't have that much capital to start out business though.

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Quote from: 0t3p0t on February 08, 2024, 10:14:36 AM

One good example here is what had happened during pandemic where some economies has been crippled but for some people they can see opportunities that made them millionaires right now because they have done something in perfect timing and of course the smart idea they have discovered and works as planned. These smart people knows how to solve other peoples problem and bring solution to it.

Smart people who can solve problems in a short time and can provide intelligent solutions to every problem that is occurring in a short time will always get more rewards for the efforts they make. And I think this is indeed worthy enough to be obtained by those who are able to do this at the right time because there are many people who are unable to find smart solutions and still really hope for smart solutions from other people in certain conditions, such as the pandemic example.

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Quote from: uchegod-21 on February 07, 2024, 07:22:45 PM

Quote from: WillyAp on February 07, 2024, 07:17:44 PM

Opportunities there are plentiful, you just need financing for some feasible projects.
Look how Elon does it, he calls you and in 3 days he has 25 billion $ from some companies who know his ways.

In the instance of Elon, it is not all about the money. Idea and smartness. There are people who has the money and not know how to multiply it.

Yes, that is why you have to be in the position to enjoy trust. Trust is all what matters.
For that reason alone newcomers like me have to bid our time and get a little trust. Not storm ahead with a brilliant idea and no .... TRUST!

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Quote from: alastantiger on February 06, 2024, 12:33:47 PM

Are there any potential benefits that can arise from inflation, recession, or economic downturns? As they say, necessity is the mother of invention. We see an example when people in a country are faced with very imports duty that individuals there become inspired to establish local businesses and initiate domestic production and start consuming locally as an alternative to imported goods. While this approach might prove successful in certain countries, others may encounter obstacles such as high operating costs and countless taxes on startups. This is a challenge that discourages local production. Despite these challenges, do you think there are still opportunities during economic downturns?

When there is an economy down turn, nobody is expected to thrive well in that economy and nobody will be left untouched by the effect. The only people that survive only inflation is people that don't save their money in the local currency, perhaps into dollar or any strong currency that are not too affected by inflation and only if the money they earn continue to flow in foreign currency. The US for example are one of the best currency that doesn't get bitten by inflation, earning through that will save you from a lot of things in the country.

I see a lot of people saying those who have commodities saved before inflation set in isn't the best way to maneuver inflation, when you sell those commodities, you gain a lot but after a short period of time, you back to spend the money on over inflated commodities and then you joined them in the hardship.

In general, as long as you earn in local currency consistently, you will feel the negative impact of inflation and this is why the government must do everything to protect it's currency from inflation. We can't 100% control inflation but it must be manage and manipulated so people don't start crying when price of goods start to triple with the same earning capacity.

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Quote from: alastantiger on February 07, 2024, 06:54:21 PM

Yes. You get it very well. Some of these developing countries are the sole imported of certain goods and because they make a lot of money out of it, they oppressed and suppress any local business that serve as competition.

I'm just trying to study some of the events that have happened in my country in the near future because I also happen to be an economics graduate. Importing goods from abroad is actually not a problem as long as the government can regulate permanent regulations, so that local products do not stop producing due to weak market value and they can compete with foreign products by relying on product quality and much more affordable prices.

Quote from: alastantiger on February 07, 2024, 06:54:21 PM

These governments have to encourage local production like introducing a grant system for those local companies.A country that is dependent on exports and doesn't develop their local sector will remain stagnant.

The government needs to improve microeconomics because this sector can usually influence local products to grow. Unfortunately, in some countries it is still quite difficult to restrict foreign goods because they come from various social media platforms and according to regulations they are legal to buy and will not cause problems with the law. Luckily in my country regulations have been made regarding the sale of foreign and local products that are bought and sold on social media platforms, so that local products can still compete even though they have not been optimal until now.

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Quote from: alastantiger on February 06, 2024, 12:33:47 PM

Are there any potential benefits that can arise from inflation, recession, or economic downturns? As they say, necessity is the mother of invention. We see an example when people in a country are faced with very imports duty that individuals there become inspired to establish local businesses and initiate domestic production and start consuming locally as an alternative to imported goods. While this approach might prove successful in certain countries, others may encounter obstacles such as high operating costs and countless taxes on startups. This is a challenge that discourages local production. Despite these challenges, do you think there are still opportunities during economic downturns?

Economic downturn gives rise to new ideas, because at that point people are faced with a of challenges, so every other person is looking for an alternative means on how to grow his or herself thereby thinking outside the box and bringing in innovative idea that will help them surmount this challenges they are facing.

One good thing about situations like this is the ability for a small unit of persons to come together and identify a business and fund it because individually one person might not have the resource to fund it thereby making the the business to strive with their various ideas.

However, situations like this the government of that state have a major role to play. what will make situations like this to have headway is for government to implement policies that will drive local production to boost the local industrial hub, and for government to also reduce taxation, especially for new and emerging businesses.
Hence when there is production and the people have a good level of income, then you begin to see that their purchasing power will be restored gradually.

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One good example here is what had happened during pandemic where some economies has been crippled but for some people they can see opportunities that made them millionaires right now because they have done something in perfect timing and of course the smart idea they have discovered and works as planned. These smart people knows how to solve other peoples problem and bring solution to it.

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It varies, like what the quotes say about "When life gives you lemons, make lemonade". So I think that idea came from the same context of the topic when there's not that much opportunities but you can see and think outside of the situation. IMHO, the more that we're pressed hardly by life, the more that we do better. And during the pandemic, it was one of the toughest situations that everyone has dealt with. With that, too many opportunities has came out and during the laid offs, people have found a lot of ways on how to make money. Became online sellers, worked from home opportunities and even gambling, they see it as an opportunity. Although we know that gambling shouldn't be considered as that but it was like one of the hardest times and people think of every situation to find opportunity from within.

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The one big opportunity during an economic downturn which I have observed over time is the advantage of popular crypto over FIAT(Ex: Borderless transactions, decentralised transactions etc) tends to widen.

Another advantage for crypto investors is to buy many cryptocurrencies at lower than average prices whenever the market turns bearish.

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Check what are people needs in this year or around people where you live, when you see there are many people have a same problem or want a something, you need to find the solution for that.

Quote from: uchegod-21 on February 07, 2024, 07:22:45 PM

In the instance of Elon, it is not all about the money. Idea and smartness. There are people who has the money and not know how to multiply it.

Yep, there are many successful athletes and people who won lottery, but ended up become poor when they're old. They only know how to make money, how to save it and how to use it, but they forgot they need to invest or have a business.

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That might depend on a country. I've seen some tutorials on how in the US, it's a good time to get a mortgage because it's protected from inflation or something like that.
In some countries, a recession is a time when real estate prices drop, so it can be a good time to buy a flat or something like that.
Then there are small things like benefiting from unequal price changes. For example, Steam is usually very late to adjust local prices after high inflation, so you can enjoy old prices for a while. Imported goods may not change in prices as much as local products if this inflation is your country's problem, so it can be an occasion to treat yourself to something special.

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the only true opportunity you can get is only when you got something in your hand to buy stuff at lower price like if you lucky enough to store some good amount of wealth in gold before and then suddenly economic face recessions and people are selling their property for cheap anywhere because they are in need then you can acquire stuff at lower price and resell when things are getting better.
but be careful if the economic downturn is so bad you might instead be the one that sells the property at even lower price overall its like catching a falling knive you never know what the result is but my guess is that, if the government is competent enough they won't let their country in a state of recession for too long it will probably get solved within months for majority of country with competent government.

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Quote from: Yogee on February 06, 2024, 05:50:09 PM

Quote from: alastantiger on February 06, 2024, 12:33:47 PM

[....] Despite these challenges, do you think there are still opportunities during economic downturns?

I guess another thing that's not usually discussed is that economic downturns also eliminate your competition if you decide to stick it out. It's an opportunity to expand your business buying more assets and maybe enjoy some tax breaks. You'll be in a good position once the market rebounds.

Do you know how long it will take for rebounds or will it last longer and drain you totally. Any opportunity you see without competition, you should be skeptical about it .

Quote from: WillyAp on February 07, 2024, 07:17:44 PM

Opportunities there are plentiful, you just need financing for some feasible projects.
Look how Elon does it, he calls you and in 3 days he has 25 billion $ from some companies who know his ways.

In the instance of Elon, it is not all about the money. Idea and smartness. There are people who has the money and not know how to multiply it.

Quote from: Poker Player on February 06, 2024, 11:58:22 PM

As a general rule, economic downturns are fabulous opportunities to buy on the cheap. I know people who struck gold in the 2007 crisis by buying Real Estate at bargain prices. If stocks and shares are your thing, you can take advantage to buy cheap when there is a downturn. Or buy Bitcoin, the recent inflation crisis coincided with a drop in price to $17K. When there is panic in the streets and everyone is selling it is an opportunity to buy.

Those who bought during the economic downturn are not always confident because they cannot guess the future. Which means they always sell back with little profit. Anyone who bought bitcoin at 15k will likely sell at 20k especially when there is much FUD.

WillyAp

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Opportunities there are plentiful, you just need financing for some feasible projects.
Look how Elon does it, he calls you and in 3 days he has 25 billion $ from some companies who know his ways.

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Quote from: lizarder on February 07, 2024, 01:27:16 PM

The entry of imported goods can affect local businesses run by natives and this usually happens in developing countries. The potential for imported goods will kill domestic products because price competition can cause small-scale businesses to reduce their sales. Therefore, this potential needs to be studied and the government should be present to protect local products produced by indigenous people and limit imported products on the market with much more binding regulations.

Yes. You get it very well. Some of these developing countries are the sole imported of certain goods and because they make a lot of money out of it, they oppressed and suppress any local business that serve as competition.

Quote

In the midst of an economic crisis, this will be much more pronounced because some people's income will die, preventing local products from developing. If the price of local products is expensive, people will switch to foreign products which are much cheaper and currently the availability of online purchases has also increasingly made local products less popular. This effect is actually quite large even though some countries have an economic power structure that is much better at dealing with crisis problems.

These governments have to encourage local production like introducing a grant system for those local companies.A country that is dependent on exports and doesn't develop their local sector will remain stagnant.

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The best one is to invest, because you do not even work for it and others work for you. If you invest into a business, like buy a stock, when it's at the bottom, then they will get better with time and you are going to make their profit with them, without lifting a finger. This is what the stock market is all about, people who would like to use their money to invest into things that would make a lot of money.

Most companies do not even benefit from this all that much, they sold most of their shares so that means they have near none, and when the price of stock goes up, it's the shareholders that manage to make a profit and the company doesn't become bigger, maybe the value would hence it would help but that's about all the profit they get from it.

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Quote from: alastantiger on February 06, 2024, 12:33:47 PM

Are there any potential benefits that can arise from inflation, recession, or economic downturns? As they say, necessity is the mother of invention. We see an example when people in a country are faced with very imports duty that individuals there become inspired to establish local businesses and initiate domestic production and start consuming locally as an alternative to imported goods. While this approach might prove successful in certain countries, others may encounter obstacles such as high operating costs and countless taxes on startups. This is a challenge that discourages local production. Despite these challenges, do you think there are still opportunities during economic downturns?

The entry of imported goods can affect local businesses run by natives and this usually happens in developing countries. The potential for imported goods will kill domestic products because price competition can cause small-scale businesses to reduce their sales. Therefore, this potential needs to be studied and the government should be present to protect local products produced by indigenous people and limit imported products on the market with much more binding regulations.

In the midst of an economic crisis, this will be much more pronounced because some people's income will die, preventing local products from developing. If the price of local products is expensive, people will switch to foreign products which are much cheaper and currently the availability of online purchases has also increasingly made local products less popular. This effect is actually quite large even though some countries have an economic power structure that is much better at dealing with crisis problems.

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IMO, it depends on two things
First, It depends on how bad that country and its economy are. A lot of countries are going through inflation but that doesn't mean all the countries are in the same situation economically. There are countries where the economy is so bad, so much insecurity, prices are so ridiculously high and to top all that, the currency has no value. In a country like that is so difficult to do business. Producers will spend so much on the cost of production yet people won't be able to buy whatever they're selling because they're poor, this will in turn make producers produce substandard goods.

Secondly, I believe it depends on the person who already has the resources for that opportunity before the country goes into turmoil, especially the capital for the business. It's more difficult to raise a country in a dying economy, but if the person already has the resources, it's much easier.

I'm not saying you can't do business in a bad economy, but seeing an opportunity because of the bad economy is a different thing altogether.

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Quote from: alastantiger on February 06, 2024, 12:33:47 PM

Are there any potential benefits that can arise from inflation, recession, or economic downturns? As they say, necessity is the mother of invention. We see an example when people in a country are faced with very imports duty that individuals there become inspired to establish local businesses and initiate domestic production and start consuming locally as an alternative to imported goods. While this approach might prove successful in certain countries, others may encounter obstacles such as high operating costs and countless taxes on startups. This is a challenge that discourages local production. Despite these challenges, do you think there are still opportunities during economic downturns?

Inflation is a difficult time that business, economy seems to be very challenging. Inflation price of everything is so expensive which people find it so difficult to afford. During Inflation their are people who still do well in their business and they are not affected of Inflation. Like some business people who already bought much goods and stuck as the price of things is going up they increase their goods which they have already bought longtime ago when the price was still fair.

Inflation only affect small business that is why during inflation lots of small businesses crash because it is so difficult to cope with the steady price that is increasing. Inflation and recession is a difficult time for many people but also a good time for some people to make more money in their business.

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As a freelancer an economic downturns open my eyes of many opportunities that I have ignored previously. I used to ignore my local client because they aren used to paying so much less than an international client previously, but with correct approach I can convince them that what they are paying is worth it, tho they aren't paying as much as International client, but it's a bit more reasonable and I can work with it. Other thing is that with the economic crisis, it forced me to learn new skills, that I used to thing I don't need to learn because I already are in my comfort zone. But then my work is very limited and then I need money and I have time to learn new skills, so turns out, there is still some good side of economic downturns if we actually look into it.

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