The best time to start an online business is now
Nobody knows how to world and the economy will look like when we can go back to normal. I've heard some scary numbers today from Germany. It seems that over 70'000 hotels and restaurants won't be able to survive the crisis. Let's assume that there are around 5 people working in each of these restaurants and hotels. That would mean that 350'000 people might loose their job in Germany alone. Just for this sector and just for this country...
If we extrapolate this to other sectors and to the whole world we might see tens of millions people loosing their job because of the lock-down measures.
What repercussions does this have
First of all we will see unemployment peaking and companies going bankrupt. The big problem is that all these companies are interlocked and when a company goes bankrupt it may hurt other companies that have open bills with it. A chain reaction could be the result with even more businesses who have to close and more people have to be laid off. In such a situation, it becomes very difficult to find new jobs and people try to do everything possible to keep costs as low as possible, hereby further reducing their purchases and giving the businesses another negative kick.
I don't know the extend of the economical crisis that we are going to face but it will be massive and I don't know how governments will react to it. I can't do much to avert this crisis but what I can do is to try to find an alternative.
Build a business on the internet
The actual situation seams to be perfect to try to build a new income stream from somewhere else than the traditional job. It is much easier to start a business on the internet that people think. To start a business you need to be able to generate a revenue. When you claim 5 satoshis from a BTC faucet you are actually having a little business. It is a starting point and to improve your business you need to be able to earn more than 5 satoshis. Let me show you an easy way how you can start to increase your income:
- Claim from the same faucet every hour
- Claim from two different faucets every hour
- Claim from 10 different faucets every hour
You don't know 10 faucets – here a list with around 600 faucets
Ok now you already have 50 satoshis income per hour. So your business is still very small but you can now go to stage two that is to optimize your income sources:
- You can use websites that pay you more than 5 satoshis per claim so that you can claim 100 satoshis per hour.
- Try to figure out the best paying activities. Try to do some paid surveys for example.
If you don't know websites that pay more you can check out this list of premium faucets
Still 100 satoshis is very little but it's definitely better than 5 satoshis per hour. How can you improve this rate? For example by having an income source that works for you without you having to do anything. There are ways that you can let your computer earn coins for you. You could install the Crypto Tab that comes with a mining capacity. It uses your idle CPU to mine altcoin and pays you in BTC. You can easily make 100 satoshis per hour like that. You income is now already 200 satoshis an hour!
200 satoshis are nice but still it doesn't pay anything. You can click only so many ads and claim from so many faucets per hour. Your computer has however still a lot of capacities. You can for example go to the website cointiply and use Hideout tv if you live in a country that allows to run it. Just let your computer show these videos and you earn with every ad that you watch. Again you can earn around 100 satoshis per hour and still your computer has some capacities.
Why, you could sign up with eBesucher.com which is an autosurf that pays you for every page that you watch. It pays in Euro that you can withdraw to Paypal.
We are already earning around 400 satoshis per hour. Yea, great that pays still not my bills but ok 400 satoshis is already a start. You have used your time resources and your computer resources. How could you make it more efficient still? Until now you are a one man show. If you want to scale your business further you need to include other people into it.
From one man show to multi-people business
The great thing is that you don't need to employ anybody to grow your business. You just have to show what you have learned so far and invite other people to do the same than you. Almost all these websites that allow you to earn coins come with affiliate programs. So when you send your affiliate links to your friends and if they sign up, you will get referral commissions. You can have an unlimited number of referrals and scale your income. No salaries or social expenses to pay, you profit from every referral. Suddenly money starts to trickle in without you having to do anything.
But you have only so many friends and relatives. Where could you get even more referrals?
What would you say if I told you that you can earn even more coins for promoting your referral links?
Here a couple of websites where you can earn by producing quality content in which you can place your referral links:
- Write posts on the steem blockchain. This is the most modern form of social media. If people like your content, you might get upvotes and you could earn Steem.
- Write posts on publish0x and get tips from other users
- Post videos on Lbry and get tips and rewards
Professionalize with every step
For the moment you started to build something that might get you some referrals and a slightly more interesting income. You could now start to standardize your income. Let's say you start to build an e-mail list with a free service like leadsleap. You now promote your opt-in page in traffic exchanges like easyhits4u and send e-mails to the people on your list with the referral links of your money earning websites.
Does this work you ask?
Well it worked for me. Don't believe me? Just some screen shots for you.
The great thing with such a business is that the only costs you have is the electricity for your computer. All these services are free to use and every satoshi that you earn goes into your pocket!
Are you interested in building a similar business? I've build a free e-mail course to reproduce this business model: The 100'000 satoshis a week strategy