How to Be Wealthy During a Recession - Lessons From Outliers From the Past

In his great book, Outliers: The Story of Success, Michael Gladwell, analyzes in 1 of his chapters the 75 richest people in history and find the 14 of these 75 people made this list because they were actively involved in the computer revolution (right age, right country, right opportunities): that is 19% of the 75 richest people in history owe their success to one revolution that covered a span of 9 years: the computer revolution (Bill Gates, Steve Jobs etc...).

A similar revolution can be seen on the internet right now where the masses are and the money is moving. For example: Youtube views exceed ABC, CBS, NBC & FOX combined; advertising dollars have moved from TV (reduced by 20% in 2008) to the internet (increased by 80%). I dare to say that entrepreneurs currently involved in internet marketing at this time have a once-in-a-lifetime shot at enjoying uncommon success due to the web revolution. However, any internet marketer worth his salt should make sure that the following elements are in place if they are to be successful:

1. Find an industry that is recession proof and market it online. As corporate America is experiencing the devastating effects of the recession, Network Marketing companies are growing at an unprecedented rate as people are turning to alternative income generating activities. While the growth of these companies is impressive, the success of individual marketers is largely linked to their experience in marketing but also to how well they leverage the internet in their marketing strategies. The most successful network marketers are the ones who build a large following, offer marketing training and use of the latest online marketing strategies.

2. Within that industry, find a business whose products/services are recession proof. Most of the network marketing companies tend to market health related products (weight loss products, multi-vitamins, antioxidants juices, pills, or household products). While these products are useful and helpful, this market is severely overcrowded and customers tend to hop from one product to another; hence limiting the growth and income potential of the marketers. The recession proof products are in the companies that offer value that can be used beyond the product or services offered and that can be applied to more than one segment of the market. My own research has led me to believe that informational products, financial education, health education, marketing training still have considerable growth potential and are still under-served.

3. Once you have narrowed down your business, find a company that gives you the highest return on your investment: a business that will have you go into profits after a handful of sales rather than after a few hundred sales. This will typically be a business that offers a tight marketing system, complete and top of the line training & a high value product or service.

Elusade Ayodele

Internet Marketer & Marketing Coach