It is always true to admit an unexpected recession, but the intensity for everyone is completely different from others.
While you are working in any of the company whether your job role is technical and non-technical, you still in the dogma of losing your job because of undefined reasons.
Yes! None no other than valid reason nobody can fire you from your job. Moreover, if you have ready to face uncertain actions with your backup plan, that’s fantastic.
Our mind always keeps us safe from upcoming calamities/problems. Someone can find the best solution for the ongoing or upcoming problem in the real sense that personality is the hero and corporate world these people known as Entrepreneurs.
Suppose you fall under the category of people who are optimistic and ready to hone their technical as well as non-technical skills. Find the opportunity in those problems because problems with the solution are the first step to identifying entrepreneurs’ traits.
Some market research companies also forecast it, and business news channel about the recession won’t occur till 2020 but worried about the existing & upcoming fluctuations in the stock market always keep high our anxiety.
- 1 Know! How you can make money by recession-proof businesses to start
- 2 Check out the useful platform.
- 3 Manage the financial backup
- 4 Assign yourself daily business homework with a deadline
- 5 Learn and execute the business strategy:
- 6 Take a review test for both existing skills and networks
Know! How you can make money by recession-proof businesses to start
Have a look at the certain indicators of recessions:
During the recession, employers probably used to cut costs while eliminating or suspending and identified as a no longer useful resource for the employer. Here we would like to represent some steps you need to follow during the downturn.
Check out the useful platform.
The beauty of the IT industry, i.e., it never sleeps and never you gonna as well. Similarly, money never has any bar to limit you from earning. It is right away and next to you as you do daily in your office for the client.
A bit interesting to find the right platform where you can make hourly income. Say, for example, check out the freelancer platform such as Up-work, Fiver, and other offline clients as well.
It’s up to you and depending upon your caliber and potential, to entertain the number of clients.
While recession comes to our doorstep, it also brings the happiness to prove our knowledge and another chance to use our skillset and following the law of survival of fittest. You can use the same problem as an opportunity to become an entrepreneur.
Without taking the calculated risk, no one cannot achieve anything, and 71% of the survival of business becomes possible with a continuous cycle of fail and win. You definitely fail more than you succeed while you were gonna something new.
What you achieve after a long-term investment of daily day and night working, you better know your business grow and keep a billion dollar smile on your face—whenever you are putting effort and working somewhere, you push your dreams into reality.
Manage the financial backup
We are talking about this because when recession comes, you can also become the victim of that by losing your current job.
And at the same time, you need to find the same job, but unfortunately, you would not be able to get the same salary package job in the same domain.
The consequences of the recession might be unpredictable. Still, at that time, if you are managing your monthly expenses and cut down the unnecessary expenses as well, it will help you keep stable your mental and financial peacefulness.
Assign yourself daily business homework with a deadline
Now! Exactly, it would help if you treated yourself as an employer and employee at the same time.
You are the boss/leader and executive for your daily butter and bead. Likewise, you can keep yourself in discipline in this downturn condition.
Whether managing financial expenditure, every prospect must identify the necessary changes to achieve your final goal while working in this digital marketplace.
Review your every step and count for return on investment that you made in terms of time, money, personal, professional, and others.
Learn and execute the business strategy:
From the last job to till now you are jobless, all of sudden you learned from your manager, colleagues, clients, and even from your local environment, refined all the knowledge, and tried to interlink them to find some valuable resolution for the existing problems and well-managed them.
Re-evaluate your knowledge and find the right match for a freelancing opportunity.
Take a review test for both existing skills and networks
Definitely, before you are going to face the recession consequences, you need to upgrade both technical skills, certainly an area of technical freelance demand, such as robotics and the internet of things, AI and machine learning, the blockchain, data science. And expand your existing business network.
When the sun is shining, it is the right time to get ready for a gloomy condition. Continuously working on the business network also have importance in facilitating freelancing as a career opportunity.
Conclusively, ask yourself how lucky I am to be a freelancer in this recession period. According to your skillset, you can do a job search in your domain of interest.