How to Recession proof Your Income
With the American economy
now at a low point, many people are looking for ways to
recession proof their jobs, income and life.
– Unless you live in the wilderness, you know the news
on the economy is not good. Employers have been cutting
workers from their payrolls for six months straight,
according to the Labor Department, and economists don’t
expect the job market to improve any time soon. With all
this talk about a recession, it’s hard to feel any kind
of job security lately. However, starting an online
business can be a quick and affordable way to make
additional money and, it provides a safe back-up plan if
you fear your job might be in jeopardy.
Steven D. Strauss is a lawyer, author and speaker who
specializes in small business and entrepreneurship. He
writes a column in USA Today and his latest book is “The
Small Business Bible.” He offers several tips on how to
recession-proof your income in uncertain economic times.
Do what you love
Having trouble coming up with a business idea? Starting
a small business is not only a great strategy for
protecting and increasing your income; it’s also an
opportunity to make a living doing something you truly
love. Start by thinking of all of the things you enjoy
doing in your spare time, and then see if you can come
up with a way to make them profitable. For example, if
you’re constantly knitting clothing for your friends and
family, why not offer your products to the masses? Or,
if you’ve been collecting baseball cards since you were
a kid, you could create a database for people to buy,
sell and trade them. The possibilities are virtually
endless when you get creative.
Make your home your home-base
Setting up a small business in your home is one of the
easiest and most cost effective ways to build a start-up
-- especially during a recession. In fact, the 2005 U.S.
Census says that small businesses have generated 60 to
80 percent of new net jobs annually in the country
during the last decade.
“By working out of your home you can avoid the not
insignificant costs of a brick-and-mortar storefront,
such as rent and utilities. And, by working from home
you’ll eliminate all commuting costs, which is
especially important with the rapid increases of gas
prices this year," says Strauss.
There can also be significant tax write-offs associated
with having a home office and using your vehicle for
Go global without going anywhere
When looking at the various types of home-based small
businesses, online businesses are not only the most
affordable; they also have the highest impact. Over the
last several years there has been an increasing trend
for businesses, large and small, to get online.
With an online storefront you can sell anywhere. Even if
your area is in a recession, it's important to keep in
mind that other places around the world are not, and you
can easily reach those global markets with a good Search
Engine Optimization (SEO) campaign. Drop-shipping -- a
supply technique in which the retailer transfers
customer orders to wholesalers who then ship the goods
directly to the customer – is cost-effective, completely
eliminates all storage costs and keeps your home office
Take time to make time
One of the many benefits to having an at-home online
business is that you can work around your own schedule.
Whether you’re choosing to start a business for extra
income to supplement your day job, or if you’ve recently
left or lost your full-time job and are choosing to
venture out on your own -- an online business provides
you with the flexibility to work at your own pace and
around your own schedule.
So, not only does an at-home online business afford you
the opportunity to create actual income, rather than the
debt and loans that starting a traditional storefront
business would require, but also allows you to make your
Look every bit as big as the competition
“Even if you’re working alone from a laptop on your
sofa, an online storefront allows you the opportunity to
appear as established and professional as the "big
boys". With strategic Web design and online marketing,
the Web works for you and can even the playing field
between retailers of all sizes,” says Strauss.
Don’t be afraid to ask for help
While establishing your small business, you should look
for an online services partner like Network Solutions
that offers around-the-clock customer service and a wide
array of design, marketing and e-commerce tools that can
help make your Web site stand out.
For more information about doing business online and
tips from other small business experts, visit
Living Within Your Means - The Easy Way - Learn Realistic Ways To Find $100, $300, $500 or More a Month In Your Paycheck You Can Use To Pay Your Bills and Quickly Eliminate Your Debt Or For Any Purpose You Choose"
Budget Living - Discover How to Live on a Budget & Save
More Money Than You Ever Thought
Possible - Without Giving Up All
the Things That You Love!
Single Parents Cash And Sources Guide - Single Parents! Get the cash you need to relieve financial distress. 82 Page Directory of cash sources for single parents.
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