Since February I have been working 3 days a week for a small mineral exploration company. They have some great prospects but as of about a month ago we had to cancel drilling because of the inability to raise money anywhere off or on the stock exchange. My hours were cut from 3 to 2 days a week.
You know what my reaction was? I was pleased that I have more time to work on-line – I’d rather be building my business than trying to look busy at a company who is in trouble for reasons that neither I nor the directors can do a lot about at the moment.
Sure the loss of income just before Xmas when we are about to go on an expensive income and my partner won’t get holiday pay is inconvenient. But I immediately turned around and started replacing that cash flow with freelance writing.
It made me realise that I have so many more options than I had a year ago. I have finally learnt not to be dependent on a employer but discovered, at least to a small degree, how to make money online in a recession.
The trouble with building an online business: it takes time and quite a few skills – its not going to pay the mortgage this month- and maybe not even in 6 months.
So what are the quickest ways to make money in a recession? Now these aren’t about building a business – this is about money NOW!
- If you can write you can write articles: and developing this skill will help your online business anyway. Check out Monika’s list of on-line writing resources to get you started;
- If you have web design or other technical skills you can also get paying work.
- Sell stuff! Selling on eBay or other online auction sites is a full-time business for many whether you sell the junk in the spare room, haunt the local garage sales, or even drop-ship.
None of these approaches will build your passive on-line income, you are effectively getting paid for your time but it will give you predictable cash flow NOW rather than in 6 months time – and that can be a very good thing!
BTW the image I loved – but it came via one of those email chains – if anyone can give me a source I’d gladly acknowledge it!