RE: The best time to start an online business is now
Dear @achim03
The best time to start an online business is now
Ehm :)
This title brought my attention right away. Perhaps it's because I fully disagree with that sentence :) So reading and learning your reasons has been ... surely very interesting lecture.
Basically I'm not sure if starting any sort of business during times of uncertainty is a good idea. I would rather suggest to learn how to live cheap, how to cook, work out and focus on mental health. And wait min several weeks to see how things around the world will develop.
It's worth to remember, that currently every business may struggle with lack of payments. It's something we must be prepared - that we will not get paid for job being done and opening legal case will not be an option (courts are closed now, and in the future all courts will be most likely flooded with tons of cases).
Also if someone didn't know how to start business during "good times" then current environment can be just to difficult and hostile. And failing can cost us money and stress (which can also affect our health).
Anyway that's just my own little opinion.
You don't know 10 faucets – here a list with around 600 faucets
Can you actually make any decent income from all those faucets? I wonder.
Yours, Piotr
Thanks a lot for your nice and critical comment! I'm happy my title attracted your attention, even if it was for the reason that you don't agree with it ;-)
I believe that this crisis will change about everything that we were used to, also the economic model that we have known so far. If you think business where you have bills to pay to somebody else, then I totally agree with you that it is definitely not the good time to start a business.
We will either witness a period of strong deflation or a period of strong inflation which will also render our money either scarce or useless.
My idea of a business is one that has 0 USD overhead costs. You are maybe not aware of it but Steem/Hive are a perfect exemples of such businesses. Of course if we will have deflation/inflation it will have an impact on crypto prices but let's have a look at Venezuela. Crypto has become their safest way to store value.
When I started to claim from faucets, I earned an average of 1000 satoshis per claim. I made 0.1 BTC just from claiming from faucets. If you look at todays prices and rewards from Faucets, it may seem insignificant when you earn 5 to 50 satoshis per claim, the question is how much they will be worth in the future when fiat money may become useless?
An additional point is that you can scale the business with faucets. By referring other people you can earn from their claims. When you have several hundred referrals that claim every day, I can tell you that it starts not to be so insignificant anymore ;-)
Best regards,
Achim
400 satoshi = 3 cents / hour? that would not even be sufficient to pay for the electricity running your computer that single hour... and it is obvious.. by clicking around and watching advertisement you create 0 economic value for nobody.. so the 400 satoshi are a fair price..
online business YES, of course... but start with something that actually matters and services a demand! Any stupid 5 minute post on steem will make you more money.. just imagine spending 20 minutes on a post resulting in more upvotes... there is still no way to make a living from that.. but at least you are not loosing money, wasting time and electricity as you are doing with the faucet idea... and it is probably not so bad for your dignity...
Hi @solarwarrior,
I appreciate your comment and I see a lot of truth in what you say.
What I wrote in this post is more or less how I actually got started with cryptos 5 years ago. If you just look at the bare numbers. It doesn't makes much sense in economical terms but it is not very different from the offline economy. From my experience from running a real world business, it is not easy to get started and it takes time to make it profitable.
In my online activity, I always tried to improve my business and little by little I started to add something new to it and then came a time when it started to pay off. By continuously trying to improve what I was doing and by creating added value with online courses, tutorials and content creation my online business started more and more to make sense.
What I want to show is that not much is needed to actually get started. The important factor is how you develop on this path.
You gave a very good example yourself: You can start by writing a short post here and it makes you some coins. If you improve what you are doing by putting more effort in your posts, you will actually start to earn more. This is a first step in improving your online business ;-)
Thanks for stopping by
Achim
Thanks for sharing your thoughts and replying to @solarwarrior.
I finally catched up with some old comments.
Thx for your comment. I love to see how responsive you are :))
Or both. Deflation first, collapse of businesses in meantime, and inflation in the future.
How come? Are those two 0 cost businesses?