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STRATEGY #5 TO SURVIVE A DOWN ECONOMY
By Kevin M
In the dreary job market of the moment, people are having difficulty with two major areas in particular: keeping a steady income flow and increasing that flow. The increasing level of unemployment is not only eliminating jobs, but it’s also putting a lid on raises and promotion opportunities. This is in large part, the driving force behind the credit crisis and the epidemic of foreclosures and bankruptcies. Is there a way to deal with it without taking unnecessary risks?
In 10 Ways To Survive a Down Economy (published on Christianpf.com June 1) we listed ten strategies to help us deal with the bad economy. Our topic for today, Strategy #5:
Be prepared to cultivate and balance multiple income sources. You may have a full time job and a part time business, or vice versa. Think of your work in terms of an investment portfolio, in which diversification adds strength. There are probably several jobs you are potentially good at; always be on the lookout for new opportunities.
Why increasing income or broadening the income base matter
Continue reading Cultivate Multiple Income Sources →
By Kevin M
This is a weekly open forum dedicated to increasing income, cash flow and customer base, for anybody who needs to increase business or supplement a paycheck. Salaried employees, homemakers, small business owners, commissioned sales people, entrepreneurs, retirees—this is FOR you, and we’d like to hear FROM you. What works in one household or business may not work in another, but then again it might. Or it might be modified and adapted to different situations.
In Can You Barter For What You Need? we discussed using your skills and services to barter for products and services you need. You can take the same principle however, selling your skills and services direct for a cash income, and nearly everyone has one or more skills to do this. You can do this as a side business, and eventually make it full time.
”What skills could I possible sell?”
Most of us don’t think that the skills we do at work would be of much value to people on the street. Think again. Right now a lot of small businesses either can’t afford to hire someone or have had to let people go. Even though staff is reduced, the work is often still there and needs to be done.
Continue reading Selling Your Skills on the Open Market →
STRATEGY #6 TO SURVIVE A DOWN ECONOMY
By Kevin M
If there’s ever been a time to adopt flexibility as a strategy, it’s now. The certainty we knew only a few short years ago is currently failing us, and our progress and even our survival may rest on our willingness to adapt to change and to new rules as much as anything else.
In 10 Ways To Survive a Down Economy (published on Christianpf.com June 1) we listed ten strategies to help you deal with the bad economy. Our topic for today, Strategy #6:
”Be flexible in your plans and ready to adapt to changing circumstances. If your job is eliminated, offer to contract or to work part time for the same company. If you develop multiple income streams, a shift to a part time arrangement may be to your advantage on a number of fronts. Be prepared to convert a negative development into an opportunity.”
Continue reading Be Flexible in the Face of Changing Circumstances →
FRIDAY INCOME & CASH FLOW FORUM
Kevin M
Working a part time job or side business in combination with a full time situation can be a tough juggling act, especially over the long haul. Some people can manage it, but probably most can’t, at least not for extended periods. It’s called having a life!
But sometimes you just need a little bit of extra money. Maybe you need to build up some cash in your emergency fund, clean up some bills, cover some repairs or a major purchase, or maybe for an upcoming holiday or special event. You aren’t looking for a lifetime arrangement, just a short term burst of extra income to clean up your finances.
Continue reading Cashing in on Seasonal Jobs and Business Opportunities →
By Kevin M
Friday Income & Cash Flow ForumThis is a weekly open forum dedicated to increasing income, cash flow and customer base, for anybody who needs to increase business or supplement a paycheck. Salaried employees, homemakers, small business owners, commissioned sales people, entrepreneurs, retirees—this is FOR you, and we’d like to hear FROM you. What works in one household or business may not work in another, but then again it might. Or it might be modified and adapted to different situations.
Dog Walking and Pet Sitting
This recommendation will require you to leave your house, but typically you’ll need to go no farther than your immediate neighborhood since it’s a service you would provide to a very local clientele.
There are full time businesses devoted to dog walking and pet sitting, so you know there’s a market for it immediately. All you need to do is to tap into it, and you’ll have a built-in advantage just by being local. Remember that for a lot of people, their pets have a status as family members; to some people they’re the emotional equivalent of children. It isn’t a job they want to turn over to a stranger, so by being known and in the neighborhood, you may not have to work too hard to find clients. Once you establish clients in your own neighborhood, you can work on referrals to find more in other neighborhoods.
Continue reading Finding Profits in Pet Care →
By Kevin M
Friday Income & Cash Flow ForumThis is a weekly open forum dedicated to increasing income, cash flow and customer base, for anybody who needs to increase business or supplement a paycheck. Salaried employees, homemakers, small business owners, commissioned sales people, entrepreneurs, retirees—this is FOR you, and we’d like to hear FROM you. What works in one household or business may not work in another, but then again it might. Or it might be modified and adapted to different situations.
Nothing contained in today’s post is likely to make you rich, but it can put some extra cash in your pocket if you’re a homemaker, retiree, currently unemployed or already working from home and looking for an additional revenue stream. It doesn’t even require you to leave your home.
Even as weak as the economy and job market are, businesses are often in need of all kinds of services. Finding out what those services are, how you can provide them and how you can market your business are all that you need.
Note to small business owners: you might consider taking someone on in this capacity as a way of freeing up your time and improving your sales process without spending a lot of money.
Continue reading Become a “Call Center” for Small Businesses →
By Kevin M
Friday Income & Cash Flow ForumThis is a weekly open forum dedicated to increasing income, cash flow and customer base, for anybody who needs to increase business or supplement a paycheck. Salaried employees, homemakers, small business owners, commissioned sales people, entrepreneurs, retirees—this is FOR you, and we’d like to hear FROM you. What works in one household or business may not work in another, but then again it might. Or it might be modified and adapted to different situations.
Many times when we think about earning some extra money, the first thing that comes to mind is getting a part time job. But let me suggest that you consider first seeing if such an opportunity may exist where you work right now.
At the bank my wife works for, some of her coworkers, all of whom work at positions inside the bank, take weekend shifts as tellers to earn additional money, over and above their regular salary.
Continue reading Find a Part Time Job Where You Already Work →
By Kevin M
This is a weekly open forum dedicated to increasing income, cash flow and customer base, for anybody who needs to increase business or supplement a paycheck. Salaried employees, homemakers, small business owners, commissioned sales people, entrepreneurs, retirees—this is FOR you, and we’d like to hear FROM you. What works in one household or business may not work in another, but then again it might. Or it might be modified and adapted to different situations.
As a small business owner or sales person, one of your biggest jobs is marketing your product or service, and doing it in the least expensive ways possible. This is especially important if you’re starting a new business, or struggling to keep cash flow in a difficult economy!
One way to do this is through home owners association (HOA) newsletters.
Continue reading Mining for Gold in Neighborhood Newsletters →
By Kevin M
This is a weekly open forum dedicated to increasing income, cash flow and customer base, for anybody who needs to increase business or supplement a paycheck. Salaried employees, homemakers, small business owners, commissioned sales people, entrepreneurs, retirees—this is FOR you, and we’d like to hear FROM you. What works in one household or business may not work in another, but then again it might. Or it might be modified and adapted to different situations.
Barter services. There are barter clubs set up for this purpose, and it may help to join one or two, but it doesn’t necessarily require an organization.
Everyone has services they can perform, or items they no longer need that can be traded for what others might need or want. This can be easier if you’re self employed or if your circle of friends includes a number of small business people who can provide the types of service you might need, especially any type of repair work.
Continue reading Can You Barter For What You Need? →
By Kevin M
This is a weekly open forum dedicated to increasing income, cash flow and customer base, for anybody who needs to increase business or supplement a paycheck. Salaried employees, homemakers, small business owners, commissioned sales people, entrepreneurs, retirees—this is FOR you, and we’d like to hear FROM you. What works in one household or business may not work in another, but then again it might. Or it might be modified and adapted to different situations.
Volunteer to be a part time sales rep for your company. Right now there’s a lot of anxiety out there over whether or not jobs will last; layoffs and the threat of layoffs are everywhere. It may be time to stop worrying, and volunteer for (paid) duty on the front lines.
Every company needs sales to stay in business; you may not view yourself as a “sales type”, but you may still be able to help in different ways. I can think of three ways to accomplish this:
Continue reading Friday Income & Cash Flow Forum–EARN EXTRA MONEY SELLING FOR YOUR COMPANY →
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General: Any information in regard to money, credit, personal finance, or in regard to any other monetary topic, provided or shared on OutOfYourRut.com is presented for information and entertainment purposes only and does not constitute financial advice. It is intended to provide general information only and does not constitute personal financial advice in regard to your specific circumstances...MORE-->
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