Our reader writes:
In the nine months since I emailed you about my booming, recession-proof dating coach business, I've all but stopped any and all in-person coaching and consultations for helping guys with their love lives.
But not because of the economy or any adverse market forces. On the contrary, men are just as desperate and lonely as ever. Around May, I recognized that my time/effort would be much better applied in the long-run in growing the internet aspect of my business — if I could build it up to a certain level and leverage the ability to automate sales and deliver advice to thousands of men the world over, then I could basically print money and move on to other ventures.
I took advantage of the plummeting rent prices around the country (did you know you could live decently in Vegas for $600/month?), and rock-bottom prices of specialists in the Philippines and India.
I also spent a few months in Europe cashing in on all of the prospects over there that I hadn't had a chance to meet or work with before. In the meantime, I slaved away at the online aspect of my business, and it's finally cresting the threshold of being sustainable and very profitable. The coming year will see me living in Argentina, then Spain, and maybe Japan or Thailand later in the year… all while working 5-10 hours a week and outsourcing the rest. I'll probably avoid the US for the foreseeable future — one, because I'm young, mobile and single, and two, because I'm kind of sickened by the political realities from the last eight years.
But in all of this time, my industry and market have only continued to expand — men opening up and seeking help in their love lives is a growing trend and here to stay, regardless of any economic forces. On top of that, recessions can be kind to entrepreneurs in that you can get started for relatively cheap, and then catch the market demand back on the uptick.
I suppose I lucked out in both cases. I'm extremely grateful for my position as I know I'm in a very, very small minority of people who benefited/persevered through this period. One thing I've learned is that these recessions aren't blips or irregularities, but a reality of our market economics. So in the future, I'll continue to position myself to weather these storms to the best of my abilities rather than get caught with my pants down.
The Dish 