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SPECIAL REPORT: AUGUST 2009
Part 1 of 3
RECESSION PROOF YOU!
(And Your Family)
The good news is the economy is so bad you don’t have to worry about what people think, everyone’s doing whatever they can to stay afloat. That’s good because this is no time for false pride. The number one key to being recession proof is money coming in, no amount is too little.
Back in the depression (which we’ve heard a lot lately), people had multiple jobs. We need to think like that again. No job or pay is too small or insignificant - just do it. Three ways to recession proof you and your family are, Resourcefulness, Exuberance, and Be a “Go To Guy/Gal.”
Resourcefulness: During uncertain times, having many revenue streams can make an important difference. Think about all the skills, services you can provide, talents, knowledge, things you have that others would pay to use to open three, five, eight different incomes. Here are some examples of what people are doing to keep money flowing in:
- Cliff lives in a very affluent town on a tree lined street in a five hundred thousand dollar home and he mows the lawn for two of his neighbors. That’s about $1500-$2000 a summer.
- Sue works at a prominent college. She has dreamed of being a TV cooking star. On Sundays, she works at Williams Sonoma and loves it. She gives demonstrations and is surrounded with all the best cooking ideas. That is $5200/year.
- Liz, a teacher, tutors for $50/hour. She has three girls needing to do fifteen hours each, that’s $2250 with just those three girls. She also rents out a room for $800/month, which is $9600/year.
- Rob, a sales rep, let’s someone park his oversized van in his driveway for $100/week.
Many of us grew up in a growing economy; we are the “throw-away generation.” During this time, we need to think like our grandparents who we made fun of when they saved aluminum foil in a drawer or took apart a radio and fixed it. How about you? What do you have or can provide that someone else might pay for?
Can you teach a course for your local adult education? Computer skills, a language, knitting, Wii, beer making?
Do you love eBay? Buy one thing and see if you can turn it around for a profit, with that profit, buy two things, etc.
Are you a good writer? Do freelance for companies, small businesses in your area or send articles out to magazines and newspapers.
Do you love to cook? Offer a private chef for a night.
Have a boat? Take kids out water skiing, or organize a fishing excursion.
A pretty good golfer? Start a golfing club for kids.
Start an internet business.
Love to travel? Offer customized itineraries including cooking classes, kayak trips, great local restaurants, inns, etc.
Everyone has things they can offer that others will pay for. Make a list of at least fifteen skills, talents, services, or things you can offer for use. Pick five of them and get the money flowing in.
By the way, this means your family too. Anyone twelve or older can be bringing in money. They can walk dogs, baby-sit, take in ironing, wash windows, water plants, have a paper route, provide help around the house for an elderly neighbor, offer consulting on how to download music onto an iPod, use an iPhone, set up a web page or Facebook page.
College kids can bring in money too. My daughter’s friend started a laundry business in his freshman year and his parents didn’t have to send him spending money for four years. There are plenty of job postings on the college website or Craig’s List, etc.
If you or your spouse has chosen to stay home with the children, start a Mom’s Morning two days a week. Have five kids come in from 8:30-12:30 for $50/child which could bring in $500/week, $25,000/year!
Most of us think about income as our day job. Many of us can be utilizing many more of our talents, skills and knowledge. Multiple streams of income! Every bit helps. What residual rewards do you think you and your family might experience other than the extra income? Let me know, I’m interested in hearing. (Sharon@hotinthepot.com).
Check out Part 2 in Special Report in September about how Exuberance will recession proof You!
Sharon Hoyle Weber
Phone: 781-424-0442
Email: sharon@hotinthepot.com
Cohasset, Massachusetts USA
http://www.hotinthepot.com