How to Make Money in a Recession. . . or Out of One
Discovering how to make money in a recession isn't as hard as you think.
Are you serious about recession proofing your career? Your family? Your life? Obviously you are.
You've come to the right place.
In fact, with just a little knowledge you can start profiting from the messed up economy quickly and ethically. While everybody else is huddled in their house, eating Top Ramen noodles for the fifth time in a week, and whining about when "the economy is finally going to turn around", with the right information you can make the most of the recession, and generate lots of money.
Meaning: I'm not promoting a get rich quick scheme or scam, so be assured you'll never have to talk to your friends and family about some new deal you've got to share with them.
What You'll Find Here: Simple tactics you can use to tap into and begin making money almost right away, despite the crappy economy. . .
. . . in fact, the crappy economy, or "recession" (whatever the heck that is) can truly be your ticket to freedom from the tyranny of money worries.
The Laws of Money Sidebar:
I'd like to share my success story. . .
. . . . . . the simple truth about building a recession proof income, and thriving even when the economy is tanking!
Recession Proof Strategies: Table of Contents
How to Earn More Income During a recession quick links:
- #1) Protect the Money You Already Have
- #2) Systematically Increase the Number of Money Multipliers You Have Working For You
- How to Make Money in Network Marketing
- Great videos on how to make money in a recession
- Recession Definition
- More Smart Ways to Save Your Money
- Diversification - The Only Way To "Recession Proof" Your Life
- Fear Drives Recessions
- Terrified By the Thought of Recession?
- Share Your Thoughts, Fears, or Stories of Hope. . .
- Great Books Will Teach You How to Make Money in a Recession
- Recession Proof Business Strategy #1
- Become Aware of Recession Proof Industries. . .
- Making Money in the Recession Isn't Hard. . .
- Someone is going to profit from the recession. Let it be you.
- New Guestbook
- Our Make Money From Home Website
- Team Building is Recession Proof
#1) Protect the Money You Already Have
It's Not Sexy, But It's Mission Critical. . . You Must Identify Your Money Leeches
The Laws of Money Sidebar:
For the sake of this lens here are Two Simple Terms to make things easier to understand:
1) Money Leeches - Things that take money power away from you, with no hope of return.
2) Money Multipliers - Things that increase your personal money power.
Don't be scared, be smart. Use the time-tested and proven strategies of Chinese leader and military strategist Sun Tzu to protect yourself and your family from economic hardship.
There are only three ways (yes only three) to make more money.
The first step I'm going to talk about is taking care of the money you already have. Understanding this basic principle of economics is the first step to increasing your money power. . .
. . . #1 ~ Protect the money you already have!!!
In tough economic times this principle is almost always forgotten!
The key to make more money using this principle:
* Get rid of your "money leeches"
* Increase the number, or the efficiency, of the "money multipliers" you have working for you
How many principles are that simple? People act based on their emotions, not logic.
Saving the money you already have is logical, not emotional.
Saving money is smart not sexy.
So how can you increase your personal wealth right now during this recession by getting rid of your money leeches? First, you must identify them.
This goes back to the Law of Input:
To make money you must act intelligently, using a combination of these three elements:
a) Time
b) Money
c) Energy
You must act intelligently in order to cut the losing expenses out of your life. Cutting expenses, creates a money generating system that increases your personal money power=wealth.
Here's a trick question: Which earns you more?
1) You make a phone call and get rid of an unnecessary monthly bill (a money leech) that costs your household $100 every month.
2) You work an extra 5 hours (on your day off) and you earn an extra $100 on your paycheck.
Of course you earn the same amount of money either way. But ask yourself this: which of these two options costs less?
If you said 1) canceling the account and saving your household $100 dollars every month, you'd be right.
It costs less in a) Time and c) Energy and the direct result to your family is b) more money.
But more than that, by making smart decisions, you're saving money, time, and energy.
Think about your life, where can you decide to save money and increase your money power right away?
Do You Really Need It? If you want more money at the end of every month like clockwork, you have to make good decisions, here's some free software that helps you make good decisions every time:
A guaranteed way to save you time, money, and energy.
#2) Systematically Increase the Number of Money Multipliers You Have Working For You
How to Build Multiple Streams of "Passive" Income
The Laws of Money Sidebar:
Increase Input = Increased Output.
The principle behind this law is simple, but many people miss it. The term "passive" income is a direct result of intelligent action being paid passively over time.
The Fact Remains: It always takes Input to get Output. Okay, some people just get lucky, but do you really want to turn your destiny over to luck?
#2) It's Simple: The More Sources of Money You Have Flowing Toward You, the Better. . .
I'd be crazy (and/or immoral) to try and convince you that there is a single best way for you to make money, in a recession or not.
There are thousands of tactics to increase your income, and I certainly don't know them all.
However, there are only 3 "systems" that work to make money. All of these systems have advantages and disadvantages over the others. (I have listed each system by it's ability to "leverage")
So What Are These 3 Money Making Systems?
1) Real: These systems are true "systems". They are almost always fully automated. They take no time to maintain.
2) Entrepreneurial: A Business You Control. Output is determined by your ability, willingness, and skill to control the factors of your business.
You control you the amount of time, money, and energy you input, thus (for the most part) you control your output. Highly leveraged through automation.
3) Employment: Job, you trade your time and energy for a paycheck. Low Leverage. If you want to earn more money, you either have to get a raise, or get another job. Time + Energy = Money Most Stable.
So do you feel like these money generating systems are working for you, or against you?
I refer to ways to make money as "systems" because that's what making money is. Remember the elements? Time, Money, and Energy. These three elements work together to increase your personal money power.
On the other hand: If you take away one of the elements, you take away a cog in your money making system, thus you take away your personal money power.
For many people, the Internet offers a wide open, unexplored opportunity to earn more income. However, given the amount of "just plain bad" information about making money online, this is often a fools bet.
During tough economic times like these, it would be foolish to think that there's less money available. There's actually more income to be made, the trick (if we can call it a trick), is finding where it is.
As you decrease the number of money leeches and increase the number of money multipliers, you will start seeing a steady stream of income accumulating right before you very eyes.
Sure the trickle will be small at first, but be patient. Turning the trickle of money into a steady torrent will happen quickly as you accumulate more and more money multipliers to your portfolio.
Where are some of the many places these added streams of income can come from?
* You can find and develop investment income streams. (CD's, High Yield Savings Accounts, Real Estate (right now is a great time to buy in many markets) Here's good a list of places and resources that have helped me save and grow my money.
* You can start your own business on the Internet. This has been my vehicle of choice, and it has paid me very well. My income has increased steadily over 300% over the last 18 months, and as an added bonus my workload has decreased by 50%. Not to shabby. It all started when I read a book by Ann Sieg, she warned me of 7 lies that prevent people from succeeding in their own business ~ they'll all surprise you (especially #3).
* Look for another job, or find a new one (that pays better). This is probably not high on you list of desirable ways to make money during a recession/depression. But remember what Suze Orman says: "first people, then money, then things." When things get tough you should look at all options.
How to Make Money in Network Marketing
Whether you believe it can be made or not. . .
The truth about how to make money in network marketing eludes most people. Statistics show, only about 5% of people who start a network marketing business ever recoup their initial investment. That's a 95% failure rate.This is a shame because there is a lot of potential money to be made in network marketing when you approach the multi-level-marketing model sensibly, with a successful business strategy, and with the right expectations.
Here are the 4 essential steps for building a network marketing business: (deviate from these core principles at your own risk)
STEP 1. Recruiting/lead generation/relationship-building
STEP 2. Sales conversion
STEP 3. Ongoing consumption
STEP 4. Replicating yourself through downline motivation and training.
Here's a great resource if you'd like to discover how to nurture network marketing leads into MLM success and make more money doing it
You should not deviate from these steps. If someone is pitching you on a network marketing business model an does not address each of these steps, run away quickly.
The fact remains: building a network marketing business involves building a business. While network marketing and the Internet go together like a hand and glove, poor recruiting practices by some unethical network marketers have caused a huge quagmire of business failure.
So if we're going to look at network marketing as a viable business model, that can help you make money during a recession, we must also take a hard look at the entire industry, and ask ourselves, "Why do most people fail?"
Great videos on how to make money in a recession
See what the experts say about the concept of leverage. . .
Recession Definition
What the Heck is a Recession Anyway?
A recession is a contraction phase of the business cycle. The U.S. based National Bureau of Economic Research (NBER) defines a recession more broadly as "a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales."National Bureau of Economic Research: Business Cycle Expansions and Contractions A sustained recession may become a depression.
American newspapers often quote the rule of thumb that a recession occurs when real gross domestic product (GDP) growth is negative for two or more consecutive quarters. This measure fails to register several official (NBER defined) US recessions.The risk of redefining recession
More Smart Ways to Save Your Money
These are direct links, I have no affiliation with these companies
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- Personal Finance and Investing - MSN Money
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- Fool.com: Stock Investing Advice | Stock Research
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- simple.ology - The Simple Science of Getting What You Want
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Diversification - The Only Way To "Recession Proof" Your Life
The Fastest Way You Can Minimize Risk and Maximize Revenue
Go From Freeloader to Freelancer:Say the word "freelancer" in any corporate setting and the phrase "not a team player" is bound to be brought up.
I beg to differ.
If you're really wanting to make more money in a recession, you've got to get outside the box. . . and into freelancer mode.
Whether you're a small business owner or you're an individual looking to make more money, freelancing simply means diversifying your income streams, and it is the surest way to protect yourself in tough economic times.
And the fact is: you already have the knowledge, experience, and skills to make more money simply by communicating what you know.
Seizing Opportunity:
Successful business people don't wait for the tough economic times to turn around, they go out and make the change happen for themselves. They seize opportunity.
And there are thousands upon thousands of opportunities just waiting to be snatched up.
Get out of the box about your own self perception: you have skills that people will pay you for. . . and as an added bonus, you get to help them solve their problems.
While at the same time, you build your stellar reputation along the way. Which means: More work, more clients, more money.
So Who's Going to Hire You Anyway?
That's entirely up to you. This is the key to diversification is "attracting" clients who have a need that you can help them with.
As a smart person you should be able to quickly assess the needs of the people around you and position yourself to help people with their needs.
This is the key to "attraction marketing." People are naturally drawn to you, and will pay you handsomely to help them.
If you'd like some free information on how to target, persuade, and help any target market here's the secret to making more money in the recession
Fear Drives Recessions
The one word answer to explain why things are tough all over. . . except on the Internet
Fear drives recessions because it strikes at the heart of people's major factor for getting up and going to work every day. . . their need for security.
When the media starts screaming about how the economy is tanking, the rotten price of resources like food and gas, it makes smart people realize just how dangerous their economic situation really is.
For many folks it's like looking into the abyss.
Only when you're standing on the edge do you realize how truly powerless you are over most economic factors that govern your life.
That's what making yourself recession-proof is all about. Learning how to make money in a recession, despite the economy.
Building your own safety net for the betterment of your family, putting the pieces together to live outside the factors that govern so many good peoples' lives.
Not having to worry whether you have enough money to eat, pay for gas, invest wisely in your retirement, and help your kids through school.
So if you're looking for a way to get started learning how to make money in a recession, ask yourself: How important are these factors to how you earn income?
Ethics - You only profit when you do the right things for the right reasons
Discovery - Are you willing to take a bit of time to learn how to create profits? Or do you want some "get rich quick" scheme?
Passion - You will discover a new way of doing things, profiting from what you love, because working with your passions helps you create an income you can love.
If you're willing to insure you have these three factors in place, I suggest you move forward and discover how to make money in a recession.
Terrified By the Thought of Recession?
Learn How To Protect Yourself:
Discover the Sound, Simple Business Strategies of Sun Tzu. Developed over 2000 years ago, these business strategies have withstood the test of time, and will help you see advantages where no-one else see's them - especially in times of recession or economic hardship.
When You Visit: Make sure to download your free copy of The Art of War
Share Your Thoughts, Fears, or Stories of Hope. . .
. . . Your Predictions About the Recession, and How It Will Affect Your Life
Reader predictions:
Fetching predictions now... please stand by
richard_wheeler, at 6pm on October 9, 2008 predicts:
Companies are getting really panicky because of the failure the bail-out has created. I hope our next president will find a way to get our economy on the right track and rolling again.
Mellowd, at 10am on October 8, 2008 predicts:
I still think there is money to be made on the stock market. take a look at my lens:
www.squidoo.com/MASP
www.squidoo.com/PAYI
I think these will take off real soon!
Tipi, at 8am on October 3, 2008 predicts:
During an election year our countries enconomy always takes a drive, and this year has been a suprise. I predict the black swan will return. Investments: buy metal, because there is no money when we are thrillions in debt, there is only credit, which is not $, it's debt.
Good Investments: bullets, band-aids, and boullion.
And, don't forget, it's always better to give then recieve! Why? Because,what goes around comes around and usually 10, 20, even 100 times more in it's season. When the gift returns to you, accept it as you would a gift, so that the giver can recieve their return.
Is the banking systom giving you a return? Really?
Fetching predictions now... please stand byGreat Books Will Teach You How to Make Money in a Recession
I just wish I had time to read them all again
Made to Stick: Why Some Ideas Survive and Others Die
Amazon Price: $16.50 (as of 10/13/2008)
Ready, Fire, Aim: Zero to $100 Million in No Time Flat (Agora Series)
Amazon Price: $18.45 (as of 10/13/2008)
Change to Strange: Create a Great Organization by Building a Strange Workforce
Amazon Price: $17.15 (as of 10/13/2008)
The Starfish and the Spider: The Unstoppable Power of Leaderless Organizations
Amazon Price: $16.47 (as of 10/13/2008)
Only the Paranoid Survive: How to Exploit the Crisis Points That Challenge Every Company
Amazon Price: $11.53 (as of 10/13/2008)
Recession Proof Business Strategy #1
Get to Know Your Friendly Social Network ~ Because if you're not in the conversation you're not making money
I'm pretty sure you know what social networking is, since you're looking at this webpage, on a social networking site, Squidoo.There are millions of conversations going on at this very moment all over the Internet. In fact, you and I are having one right now.
"Conversations?" you might ask.
People are discussing everything from global warming, hybrid cars, how the recession is hurting the economy, there's probably people even talking about which Muppet is hotter Fonzi or Gonzo. . .
If you can learn how to interact and be part of the discussion within the social network of the Internet, you can earn money regardless of what the economy is doing.
It's all about building the simple knowledge of speaking with people rather than at them.
In my own situation, I tried talking at people for several years - being a pushy marketer. In my early days in my own Internet business I struggled with what to say. . .
. . . my breakthrough really came when I started studying how to "talk" within the social networks online, places like Squidoo, facebook, digg, and other good networking sites.
For me, just following the simple lessons we've put together at our Social Network dedicated to making money online
The It's Good Business social site has a ton of great ideas about how you can make money during a recession or even the best economic times too.
Become Aware of Recession Proof Industries. . .
Because there are some markets that will never go out of business
The "experts" say that if you're looking to invest in stocks during a recession the best places to look are in the "vice" products, like cigarettes and alcohol. I guess this makes sense since during times of economic hardship all some people can do is hang out at the bar and wait it out.
But, in my opinion, morally, I don't want to profit from other peoples' suffering, but that's just me.
I look to other arenas, for people who are actively seeking to improve themselves by becoming more marketable and skilled during economic hard times.
Yes, self-improvement and education are recession proof because there are always going to be those people who take the bull by the horns and work towards improving themselves!
You can even see our entire network of folks who have learned how to make money online dispite the economy check it out here.
Making Money in the Recession Isn't Hard. . .
When you know the secrets of the rich
I'm going to be really honest with you.The only way you can personally fight a recession is by becoming
independent. . .
Independant of the places that are hit hardest by the huge pull back in consumer spending that is already here (I write this on a day where the American Stock Market fell by 350 points!):
1) the mid-level employees of corporations
2) the blue collar workers
3) small traditional "mom and pop" shops all over the country.
These are the "everyday" people like you and me that can least afford to go out of business or be laid off in crazy economic times like these.
It's sad these good folks who are traditionally hurt most by recessions are people just like us.
What you may or may not know is the U.S. government has structured the tax laws against this giant group-the middle class. I'm sure you feel it every year when you look at just how much of your hard earned money you're forced shell out to the I.R.S.
What if I told you "you can keep 50% of what the I.R.S. is taking," would you listen?
You'd be silly not to.
The same government that taxes the "everyday" regular Joe so hard, encourages people with any kind of entrepreneurial spirit to start their own businesses, in an attempt to spark the economy.
It doesn't even matter if you business has 1 employee or 100. . .
With the tax laws structured the way they are, you the small home business owner automatically receive the exact tax breaks of large multi-billion dollar corporations. . .
. . . you can too, just for checking a different box on your W2.
So in reality your tiny start up business can make your family real money every year, even if on paper it's losing money. Because if you're doing it right, it won't be. And that where I can help you.
Because if you turn a profit that's much better right!
Discover the economic revolution of our recession proof lead generation strategy and recession proof your life today!
Someone is going to profit from the recession. Let it be you.
And why you should have started thinking about this yesterday!
Just three short years ago. . . we were in one of the biggest booms the housing market had ever seen. People were buying and selling houses at an amazing rate.I personally bought and sold two, and I had no clue what I was doing, and still made a lot of money! Buying and flipping a house was like planting a money tree in your own backyard!
Look at all the television shows about flipping houses that sprung up in the fat times. Do you really think most of these people are flipping houses today?
I'm certainly not! Both the houses I sold are on the market again at prices below what I sold them for. I got lucky, many have not been so lucky.
So the question remains, how do you make money in a recession?
The Concept of Leverage: Do You Have Any?
Robert Kiyosaki says most of us have financial trouble because we never actually get beyond the "me/you" stage in our lives and careers.
What's the "me/you" stage? Basically I work for a wage, I get paid only for the hours I work, or the "paid time off" I get as a perk for working for someone else. I have no leverage, no earning power beyond what I do.
I control my small world, but I do not expand outside it because of fears, uncertainties, doubts (F.U.D's).
The F.U.D. you feel are the same fears that are driving the middle class into extinction, and our country straight into a recession.
If you're frightened about how to start your own work from home business here are some great tips to keep yourself safe.
New Guestbook
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jessicashalyn
I never new about recession before. Now i found here more about recession and its features. thanks for sharing. 5* Posted October 12, 2008 |
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nancydodds1
My 5 stars for you. Everyone can get good information from your lens its very helpful information. Posted October 12, 2008 |
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Jim10
Thanks for all the great info. And hey you even seem to give people a boost in confidence too. I have been writing on Squidoo and Hubpages for a while. It seems to bring some profit. I also see that if I find the right way to get people looking for what I have to offer on my own site. It should work out very well. It is trying to get the right traffic that I need to work on. Posted October 09, 2008 |
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richard_wheeler
Thank you for Creating this lens. I hope people do not go into panic at this time. I hope people will see the light at the end of the tunnel during this recession. Posted October 09, 2008 |
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AndyPo
Excellent lens and especially useful at the moment. Posted October 07, 2008 |
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Tipi
You got my attention sometime ago with this lens and I just had to come back and read some more. I emailed it to a friend on Squidoo, who will find it of interest, I lens-rolled it, and I will feature it, too. A fine job, Jesse! ***** Posted October 03, 2008 |
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