The best time to start an online business is now

in Project HOPE7 months ago

The best time to start an online business is... NOW.png

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:

  1. Claim from the same faucet every hour
  2. Claim from two different faucets every hour
  3. 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:

  1. You can use websites that pay you more than 5 satoshis per claim so that you can claim 100 satoshis per hour.
  2. 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:

  1. 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.
  2. Write posts on publish0x and get tips from other users
  3. 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.

easyhits4u.png

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

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They are good methods and good ways that I used a long time ago when I started working from home, and I must admit that the business of doing surveys helped me a lot and with that I got up, in addition I must admit that I learned many interesting things through the surveys, as some were very exclusive and gave prizes that were sometimes electric machines, microwaves and other things.
Good post, I suppose you were inspired by my post on how to make money from home, and I can tell you that I worked with all the methods you mention, great to start building a capital.

 7 months ago 

Yes my friend, your post inspired me ;-). I think that in such a difficult period we should all try to build up new income sources. Thanks a lot for your comment!

What is going to happen after the entire pandemic is over is extremely scary and sometimes I do not even want to think about it.

Great post and amazing idea to help people earn satoshi.

 7 months ago 

It is indeed scary and I hope that our lives will be still peaceful and that we won't be lacking food or shelter. Thanks a lot for your comment!

Thank you for sharing these methods, it will be very useful this period.
I want to know if any method of payment has to be made to move to the premium level of earning satoshi?

 7 months ago 

All the methods that I present above are 100% free to join and it's not necessary to invest anything to get going. If a website asks you to invest first before withdrawal, it might be a kind of scam...

Faucets pay you very low amounts. Crypto-mining consumes more electricity, and your computer's life can be shorter. And at the end, you pay too much for the mined crypto. I'm for blogging, you can learn it in the crisis and earn big after it.
I was reading this podcast yesterday:
https://smartblogger.com/podcast-should-you-be-advertising-on-facebook-in-2020/

Most methods of "passive income" require a lot of work. Are like an inversion in the future, you can gain in some years. But they aren't a quick solution.

 7 months ago 

Faucets pay you very low amounts.

That's also my impression.

 7 months ago 

Thanks a lot for your comment. I'm listening to the podcast now :-).

You are right that it may seem a waste of time to claim from faucets. Just something to think about:
When I started claiming from faucets I earned an average of 1000 satoshis per claim. I manged to get 0.1 BTC just from claiming from BTC. At the time it was worth 20 USD, now it's worth 700 USD...

What can seem insignificant today can be worth a lot tomorrow...

I however totally agree with you that content creation and blogging is an interesting way to build up a business. It requires however a lot of time and you need to learn the ropes.

What can seem insignificant today can be worth a lot tomorrow...

Or, you can simply put your money into cryptos and wait the price to explode. Why bother with ads and faucets, then?

Oh, wait, what if cryptos fall?

 7 months ago 

Or, you can simply put your money into cryptos and wait the price to explode. Why bother with ads and faucets, then?

Totally agree with you but what when you don't have the money?

Oh, wait, what if cryptos fall?

Agree with you but then again it's better to "earn" your crypto rather than buy it. Like that you only risk the time spent.

The important thing is not to worry and be paralyzed by bad news, but to occupy our time by being distracted by something that gives economic benefits.

Excellent post. We can see that even if we can' t leave the house and, luckily, we have a computer and internet, we can make money thanks to the blockchain technology.

Thanks for sharing :D

 7 months ago 

The important thing is not to worry and be paralyzed by bad news, but to occupy our time by being distracted by something that gives economic benefits.

That's what I keep telling myself. If I cannot work as I used to work, at least the internet offers me a way to make some money.

 7 months ago 

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

 7 months ago 

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 ;-)

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.

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.

Can you actually make any decent income from all those faucets? I wonder.

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...

 7 months ago 

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

 7 months ago 

Thanks for sharing your thoughts and replying to @solarwarrior.

 7 months ago 

I finally catched up with some old comments.
Thx for your comment. I love to see how responsive you are :))

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.

Or both. Deflation first, collapse of businesses in meantime, and inflation in the future.

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.

How come? Are those two 0 cost businesses?

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