I know a lot of people who have been hit hard by this recession. However, don’t be discouraged by the news reports that it will take years for the economy to recover, or that housing prices continue to plummet. That may be the reality for many people out there, but it doesn’t have to be the reality for you! I understand that we are all interconnected by economic factors, but that doesn’t mean that economic factors have to dictate our lives. We can’t always control what happens to us, but we can ALWAYS control how we react to things.  I say this to emphasize that with the right mindset, this recession can actually provide you with an opportunity to progress!!!!!

What is a Job?

A job is merely a service you provide to an organization, customer, or person in exchange for compensation. If you work for a company, you are providing labor/ service in exchange for compensation, nothing more nothing less. The comfort in working  a “JOB” is that the situation is already structured. The founders took the financial risk, got the clientele, and set up the  administrative infrastructure;  all you have to do is come to work and perform. The trade off is that you assume little risk at the cost of losing independence. When working for a company, your personal life has to be planned around the company’s needs, and worse, another person’s will. If your boss is in a bad mood, maybe he/she will sign off on your vacation time, maybe they won’t. Some bosses get a kick out of playing “God”. Maybe they’ll keep you, maybe they won’t. When working in an organization, you are putting your life in the hands of another person. For some people that’s cool, and I’m not knocking it. But someone started the company you work for, and they are reaping off of your labor. For those who are talented enough at a particular skill to get paid for it and brave enough to assume the risk, starting your own business may be a great opportunity.

With the Right Perspective, Losing Your Job Can Be a Blessing

For those of you on unemployment, this can be an awesome opportunity to do what you truly desire. Yeah you may not be able to afford every premium channel while on unemployment, but for the most part you can cover your major bills (rent,utilities, car note). This security blanket will give you the opportunity to do your own thing. Even if you desire a job, take a hobby of yours and experiment with trying to make money off of it, who knows, maybe that income in addition to your unemployment will give you more money than your actual job! Unemployment Insurance can give you the perfect opportunity to create your own job instead of competing with hundreds of applicants for one position.

When starting a business, you should do something you have a chance to be the best at. An example is my friend Donald O’Connor. He owns Dins-Inc, a web marketing company. Donald was a valuable consultant at a mid sized advertising firm.  He had developed a reputation as a hardworking, creative, web developer and web marketer.  When his employer laid him off, he decided to create his own “job” instead of looking for employment. For the past three years, he’s made MORE MONEY than he has working at his old job, and is supporting his whole family, paying a mortgage, and taking vacations COMFORTABLY!!!! From an entrepreneurial perspective, a formal job takes up your most precious resource, TIME!!!  Those extra 40 hours a week combined with unemployment insurance could give you the opportunity to make TWICE the amount of money you’re making at your current gig alone.  You’ll know whether your biz is headed in the right direction in about six months. If it doesn’t look like things are quite stable yet, look for a job.

Are You the Best at What You Do? Well Why Not Do Your Own Thing!!!!!

I know a lot of people who are very knowledgeable in their field. They have tons of experience, tons of contacts, and several accolades. These people are often recognized as the best in their field, and many organizations benefit from the name recognition of having these individuals as part of their companies. True, you may be making $100,000 at your current position, but please believe that if you’re making $100,000 annually, the company itself may be making millions off of your labor. YOU SHOULD BE MAKING THAT MILLION and definitely can! Individuals in this situation should consider consulting. Consulting is a RELATIONSHIP business. So if you are an expert in your field and have great business relationships with potential clients, you’re in the perfect position to start consulting. You can even start while you work your current job. Consulting doesn’t require a huge infrastructure or even a ton of money. You don’t need an office (consultants typically go to their client’s site). If you have a basic computer, fax, and phone set up, you can start consulting from a home office. In his book, “Getting Started in Consulting”, Alan Weiss explains how he started a consulting practice that makes 7 figures annually from his home. If anyone wants this book, I have a PDF copy I’d be glad to share with you.

Start up is DIRT CHEAP

Brick and mortar storefronts are starting to become a thing of the past. The internet has made it VERY easy to start a business dirt cheap. I helped one client start a mobile hair salon. She recently graduated cosmetology school, had a natural clientele base, but didn’t have a physical shop. We developed a website for her, made her business cards, and promoted her mobile salon as more convenient than waiting in a traditional one. Her talent combined with this brand of  “we’ll come to you” convenience has made her very successful, and now her biz is booming! Websites don’t have to be that expensive. You can go to several companies for cheap web site solutions including intuit.com, godaddy.com, officelive.com, weebly.com, and wix.com. These site generators are designed to be user friendly, and no programming experience is required. And even if you can’t figure out how to use them or don’t want to be bothered with the task, a graphic designer should charge you no more than $500 to create one of these sites for you. A site from scratch can cost upwards of $1,500, so you are saving at least $1000 by going this route. And you are getting a site for free if you figure out how to create it yourself. As far as business cards, uprinting.com offers 1000 two sided full color business cards for under $35 including shipping and handling. So start up should cost no more than approximately $535 assuming you already have a PC/laptop and printer.

Grow Your Clientele

You can use free marketing tools such as Facebook, Linked In, Cragislist, blogs and other social networking sites to promote your business. You can also use services such as Constant Contact (who provide a 60 day free trial) to send email blasts to clients. However, the best way to get biz is by good old fashioned word of mouth and face to face networking opportunities. Find out where your potential clients congregate, then GO THERE!!!!! For example, if you are an image consultant specializing in women’s fashion, market at a women’s clothing or shoe store. Identify clients who may need your services (the tacky lady buying something who doesn’t fit her figure), and start a conversation. Give some advice about what she should wear. (i.e. “this blouse goes better with those pants than this one”). Provide them with valuable insight, show your expertise. Then if they ask what you do, tell them you are an image consultant and offer your card. Or, if you sell baked goods,  promote your business near places of business during lunch hour. Start off by giving free samples of your goods.  If you offer professional services, give teaser events. You can usually get your local library or community center free of charge. Promote your free event via one of the marketing tools mentioned above and tease the audience with your expertise (give them valuable information, but something that will make them want to work with you). Have the audience sign in, so that you can have their names, numbers, and email addresses on your database.

These are just a few examples of how to use this recession to free yourself from the chains of the traditional 9 to 5 and to create your own opportunity. There are also MANY grants out there for individuals looking to start businesses (the govt is about job growth right now) and many banks offer special incentives to small businesses. So despite what you hear on the news, NOW IS THE TIME to do your own thing. RECESSION=PROGRESSION