blog / article

Passive income, now more than ever

by Leo Chan
6 Apr 2020

The entire world economy has come to a halt amidst the ongoing Covid-19 outbreak, chaos is raging, and millions lost their jobs overnight.
This new reality imposes harsh economic ramification for us all as unemployment rates are currently skyrocketing. Now, at this critical time, adapting to the new setting is essential to overcome this financial crisis. As we enter a period of uncertainty millions are left puzzled after having their main source of income abruptly cut short, thus generating a new source of income is imperative, and passive income may be the key to ride out this storm. In this digital age the opportunities are endless with numerous platforms to choose from whilst utilizing the internet to build an online business network.

Recent technological developments have turned this world to the “global village” we know today. This internet revolution created a connected “virtual realm” that never sleeps. Ergo, countless new opportunities and ventures are present for anyone to harness the internet`s perpetual reach for profitable endeavors. Unlike an old-fashioned brick and mortar store the modern online business caters to its owner’s needs providing more freedom, dynamic solutions, and infinite clientele. For instance, an online store is capable of being open 24/7 and reaching out to just about anyone in the world and at any given time, regardless of “real world” problems like work hours, logistics, or even a global pandemic. Unlike a regular 9 to 5 job at the office, the time and effort invested in your online business directly impacts your profits and helps you generate a stellar source of income.

Nowadays, the timing couldn’t be better, with an abundance of time in our hands anyone can start his quest for financial freedom today with a click of a button. In addition, the ongoing global restrictions and limitations of quarantine and social distancing cause a substantial shift to e-commerce and digital presence of consumers around the world. To put it simply, now people are spending twice as much time online each day without the ability to go out and shop stores. Perhaps it is the opportunity to “make lemonade out of lemons”. But in order to do just that you must have the right tools.

Essentially, maintaining a thriving online business is all about trial and error. Just like anything else you don’t just magically become successful overnight. Developing a strategy on marketing, products and market segmentation are all key factors that contribute to profits. Ultimately, it can all be boiled down to allocating time, effort, and resources on the job. Hence, using the best tools at your disposal is crucial for success. That is why using Streetpricer’s eBay repricing tool eliminates the excruciating burden of price monitoring for customers and keeps a competitive edge of dynamic optimization of pricing when it matters most, closing deals. Helping customers worldwide to invest time and effort to reach their goals.

If you have an eBay storefront – we’ve made our basic service free. Go ahead, try it out.

ABOUT THE AUTHOR

Cardy Chung is the founder of StreetPricer. Read more articles by Cardy Chung.

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