How can I make money during this recession?
How can I make money? This is a common question during this recession. But people like to make extra money or better money in the best of times. But during a recession, it’s a really serious matter. I was born in 1932, which was the worst year of the depression. As far as I remember, it was like that the next year and the next. It didn’t really end until the WWII economy started to pick up. No one knows when this one will end, even though it is “officially” over. With deficits, maybe never.
To answer the question “How can I make money?” I’ve tried to break it down into a few general categories as follows:
Get a job
The immediate way to earn or increase income is to find a job, or a better job, or an additional job. I notice in sad stories on TV that many have two or three jobs. These are usually low-paying jobs that don’t bring much profit. Usually the person lost a good high paying job and then had to pick up whatever they could find to support the family and pay all those bills created when times were “good”.
If you need a job, learn this: Most jobs are obtained through contacts. So to answer your question “How can I make money?” then renew your contacts and create new contacts. For example, you can call an old friend and tell him that you are unemployed. Ask if he knows where you could find work. Ask if he can help you. Then until you let others know you are out of work and would appreciate any help they can give you. Ask if he knows someone who could help you.
I won’t go into details about finding a job, but I will list some thoughts on the matter:
1. You need an appointment for a job interview. Let’s say you’re writing a note to a manager you know at a local company. Request an interview. In your letter, give some details about your educational background and work experience, but mainly say how you think you could help the company if you were hired. Always give a phone number where you can be reached. In your letter, ask the person to call you at the number to discuss further and make an appointment.
2. Have a resume. These are the most important things. But be careful what you write. Don’t put things in there that wouldn’t be discussed in a business interview. Do not include your religion and political activities on your resume. Also, your hobbies are not that interesting. The purpose of a resume is to focus on the job you are trying to get. If you are looking for a job in more than one field, then you need more than one resume. Give your CV (date of birth etc) and contact information, the job you are applying for, the experience you have in the field, your education, any publications and activities in organizations that support your request.
3. Even if you go to an interview for a construction worker, dress like you’re going to church right after the interview. Make sure you’re clean-shaven, if you’re a man, your shoes are polished and your tie is straight, not gingerbread, and that you shake hands with a firm but not too strong grip and that you have a big smile on your face.
4. During the interview, listen carefully to what is being said. Familiarize yourself with things you can develop further. Avoid areas that are of no interest to the interviewer. Be enthusiastic, but not overly so.
5. Apply for a job. Don’t start asking about the salary before you get the job. Even then, wait for the offer before responding.
There are many resources to help you improve your chances of landing a higher paying job. Go to your library and search the web. Resume formats are readily available. Also, don’t overlook employment services in your area, including resources your church or club may have available. Spread your wings!
Start a local business
Many new businesses are started during recessions. People are desperate to do something. Independents rely on their own skills or experience.
There are many resources to help you start a new business. First, start by talking to your banker. Ask him if he knows of business startup opportunities in your area. Is there a business you could take over?
Go to local colleges and universities and talk to people who are assigned to help small businesses. Talk to your chamber of commerce and local business clubs. Most importantly, talk to other business owners. Tell them you’re looking to start a business and ask about gaps to watch out for, how to get financing, how to choose a location, what the local business costs are, how they got started, what help they got getting started and let them talk most of it. Who does he know who can help you?
Once you have decided what business you want to start, write a business plan. Your local resources will help you prepare it. Some colleges and organizations offer courses to help you get started. They are usually taught by retired business people who know what they are talking about. If you have a plan, have your banker review it. Ask your banker for help with financing. The Small Business Administration can insure your loan. To get such a loan, start with your banker.
In your business plan, state the goals of your business in relation to your suppliers, your customers and the community. Describe what you plan to provide to your customers, including good service. Your business plan should not only discuss products, production and financing, but also how you will promote your business. After all is said and done, you need to get customers in your door. Once you get things going, you may want to offer products and services on the Internet, but don’t put the cart before the horse.
Work at home using online sources
The question “How can I make money?” is loved by internet gurus. They make millions every year by providing get-rich-quick schemes that don’t work. Most internet marketers I know have been scammed like this. But fraud is rampant in all types of business, so you need to be vigilant. You can always check a program on the Internet if you think it is a scam. Just remember that if you put “Is Joe Blow’s Plan a Scam”, Joe Blow himself will still be there trying to trick you. Look for an independent review that doesn’t link to Joe Blow’s landing page because the writer is a Joe Blow affiliate.
Remember, if you’re going to be an internet marketer, Joe Blow is your competitor, not your friend. He will bleed you. He first gives you a gift. This puts you on his mailing list. He then sells you his scheme. You find that the scheme doesn’t work. He sells you additional products that are sure to work but don’t. He then offers to mentor you privately until he gets your last penny.
Although many people do internet marketing, most fail. The reason is that it takes training to become an internet or affiliate marketer. The process is free for the most part. You need a web page and an affiliate link. Free marketing methods are available, but most marketers use article writing. You can get dozens of your affiliate links for free at Click-Bank, Commission Junction and other similar sites. It’s all about traffic and pre-sales. Here’s the process in a nutshell:
1. You decide which areas or markets to enter based on your knowledge and experience.
2. Make sure that the markets you choose bring income to internet marketers. To do this, you find keywords that people are searching for using a keyword tool, of which there are several good ones on the Internet. You see how much advertising is paid for each keyword, how many visitors there are, and how much competition there is.
3. You choose products to promote. You are making an informational page for the subject keyword. You are not trying to sell on this page. You’re just trying to warm up the reader so they click on your affiliate link. If the keyword is “trout fishing” then you should give relevant information about fly fishing. You put your link at the end of the article. It might say, “Click here for information on great fishing lures I use.”
4. Write an article about fishing and link to your web page in your resource box. You promote your article on your blog, on social sites and in emails.
5. Give something away on your web page. To get the free item, the reader leaves their own name and email address. You use a code from Aweber or one that provides the free product and then send scheduled emails to the reader about fishing. Offer your products in your emails.
It takes more training than what I’ve given you here, but you get the idea.
This article is too short to give definitive answers to the question “How can I make money”, but I hope I have given you an idea of the things you can aim for.
Fly Old Glory!