Due to globalization internet business is becoming more competitive than ever before. Online business owners are finding it hard to survive in the current situation. It has further been compounded by the economic slowdown. In times of crisis, people are usually worried about tomorrow; some are angry and want problems to be fixed fast. In their emotional status, they end up investing in projects that don't bear fruit.

It then becomes imperative for online business owners to adapt and change their approach to business in order to survive. Apart from just getting things done, it would be important to do things right and not rush. By rushing we may fail not because our business idea is bad but because we do not observe sound business principles carefully. Making money online is no child's play hence online business needs to be approached tactfully.

This is the time to adjust to new business management systems that suit the current economic times. Since money is scarce it would be advisable at this time to cut down on the cost of advertising. The internet has various free advertising programs. Submit your website to classified advertising sites like usfreead.com and craiglist.com among others. Viral marketing is also another method of free advertising that one can try and save on adverting cost.

Also enroll for free affiliate programs where you don't have to worry about stocking or offering customer service. The tasks will be carried out by the affiliate manager, in the process you'll save money and have time to attend to other businesses.