They say we have a recession every 10 years and as the last one was in 2008 we were overdue. But no one could have expected how the current recession would come about.
Covid-19 has touched all of our lives, for some the disturbance has been small, but for others family and friends have been lost and lives will never be the same.
On top of that many people are facing redundancy or have already been laid off work, leaving them unable to pay their bills or provide for their families.
I’ve faced redundancy before, it was not a nice feeling. It’s like the rug has been pulled from under you and you have to adapt quickly or you’ll be overwhelmed with the stress and anxiety of it all.
That’s why I think it’s so important to build up your assets. I’m not talking about cars, houses or £1000.00 golf sets sitting in the basement, these are actually liabilities (something that takes money off you or doesn’t retain its value). Assets are something that puts money in your pocket!
Think shares, online business, and real estate.
As Robert Kiyosaki says in his book, Rich Dad Poor Dad, the rich get richer because they’ve spent their time building their assets. For the middle class, their primary income is through their salary, and as their income increases so do their expenses.
So if you are worried about the recession and are worried about losing your job…
Protect yourself. Start working on your assets. Robert Kiyosaki’s book is really good at explaining this. But basically you need to be looking at ways to make money outside of working for someone else.
And the easiest way to do that?
In my opinion it’s to start your own online business.
You could buy and sell stocks/shares or get into real estate, but you need to have a fair bit of money to start either of these things.
You can get started with online business fairly cheaply. You’ll need:
- A website (you can get a domain for less than $10)
- Website hosting (this varies, but are often <$5 per month)
- Some training (again varies in price, but you usually get what you pay for)
You might never have thought about starting your own business, but it’s really not as scary as it sounds. And ANYONE can do it, with the right mindset, a good mentor and some willpower, you can build a business that works for you.
Imagine having a business that stays open and brings you money even when other businesses are being forced to close.
No more stressing about how you’re going to pay the bills or feed your family! You’ll have the freedom to adapt to challenges (hello pandemic) and help others along the way.
The thought of losing my job and not being able to find work was terrifying!
I’d likely lose my home and the strain on my relationship with my partner would be awful. This spurred me into action, and I looked for a solution. I knew it couldn’t just be another job, it’s too risky, I could lose that at a moment’s notice too.
I came to the idea of working for myself, it would have the flexibility in working hours I was looking for and I would be in charge of how I made money. The hours I put in, wouldn’t just be lining someone else pocket, but helping me to build my dream life.
I knew I couldn’t do it alone though. I had:
- No idea where to start
- No experience with online business
- No idea what to sell
- No idea how to get people to buy from me
- And no real faith in myself that I was capable
So, I found a community of people to help me out. They taught me EVERYTHING I needed to know:
- I learnt how to communicate with consumers
- How to set up a website (they do the hosting)
- How to sell things online
- How to develop the right mindset to be successful
- And they gave me direction (I’m learning to monetize the things I’m passionate about)
The training is truly world-class. There are several weekly live webinars which are run by the kings (& queens) of online business, which are always inspirational and teach you something new.
Support and answers are there when you need them, and all the tools you need to build a thriving online business are there at your fingertips.
If you want to buffer yourself from recessions and get yourself an income that doesn’t depend on anyone else, then register for this FREE live webinar.
On the webinar, my mentor will show you exactly what is possible, even in today’s COVID infused climate.
I know that you’ll enjoy it as much as I did!