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Table of Contents
Understanding The Cause Of The Crisis
Americans are currently facing an economic crisis they never expected. Unlike the Financial crisis of 2008 which was primarily driven by reckless loans, the crisis caused by the government response to the 2020 pandemic is much different. It has exposed the vulnerabilities of years of egotistical thinking.
Most people take for granted the complexity of the systems they rely on for their standard of living. Modern Americans have lived with an abundance of choices in the supermarkets while giving little thought to the process those goods must go through to get to the shelves.
Suddenly the term “essential business” and “essential worker” became common lexicon in 2020. This insidious phrase was used as a shaming tactic against people who just wanted to earn a living. People with little to lose were more than happy to support these policies while they collected government money.
Taking Inventory Of Your Skills And Assets
Some businesses such as restaurants and hospitality related industries were hit much harder than others. Even if they were allowed to stay open, the reduced demand for certain goods and services made it harder to remain profitable. Other businesses found new ways to adapt and found new opportunities.
Work from home opportunities saw a massive growth as businesses were forced to adapt to changing circumstances. Zoom meetings became extremely popular as both workers and employers discovered the many benefits of working from home.
Consider what skills you currently have that could be used in a work from home setting. For example, if you have restaurant skills, you could find ways to create content about cooking healthy meals. Demand for online content is increasing so find creative ways to help meet that demand.
If you worked in the entertainment industry you faced many events that were shut down. If you have skills such as producing music, there are many opportunities to share your work online and generate a following. Many new famous artists have been discovered this way and now have their own platforms.
Safety And Security
Depending on your current age and health, you may want to minimize your exposure to potential viruses or diseases. Having your own online business gives you the option to interact with the public on your own terms. You can also avoid new mandates and restrictive employer policies.
A growing concern for everyone is the massive increase in violent crime. As a result thousands of people have fled the cities for suburban or rural areas where they could continue to work remotely. There is little very little downside to leaving the cities for cheaper and safer housing.
Everyone must weigh the perceived loss of easy access to the luxuries and entertainment options of a larger city vs. the numerous benefits of moving to a smaller quiet town. Many people soon discovered a renewed appreciation for being closer to nature and a slower pace of life.
An online business will give you the maximum flexibility to relocate where you actually want to live that fits your long term goals. Widespread access to high speed internet will allow you continue to your work from beautiful locations where you feel safe and secure.
From a practical and probability standpoint, working remotely will save you time and risk commuting to work. Car accidents are a serious risk every time you get behind the wheel. Especially on cold, dark winter mornings with icy roads. You will feel much safer knowing your office is only a few feet away.
How To Profit From Hard Times
With every crisis there is also new opportunities. It is little use to complain or feel sorry about circumstances you cannot change. In 2020 entrepreneurs quickly found ways to sell new in demand products such as masks, face shields, plexiglass, UV lights, protective gear, and much more.
Think about different ways that you can take advantage of new opportunities to create an online business based around your skills or interests.
It’s very unfortunately for the people that lose their jobs due to a variety of factors. The best way you can help others is by first helping yourself and gaining the resources to give back. Businesses can only remain profitable if they provide real honest value to others and build a good reputation.
Living in a small town gives you an opportunity to become a meaningful part of your new community. You can easily make valuable business and social connections which will create mutually beneficial relationships. Having a reliable mechanic, plumber, electrician or other tradesman can be invaluable.
With the skills you will gain building your online business, you will be able to help them grow their own business with things like building websites, social media pages, and basic marketing services. They will likely be extremely grateful and become a great testimonials for your marketing business.
Creating Passive Income Streams
The majority of work from home opportunities will require active work. For most people finding an employer that offers benefits and stable paycheck will be far better than facing growing competition online for freelance work.
I believe the best strategy for the average person will be to find a stable work from home job while they focus on building their online business in their free time. Remote work can be a challenge for some people as they must learn how to stay focused and self disciplined.
Creating passive income will require active work and this self discipline. The work you do will not see immediate results but will grow and produce income over time. Once you’ve put in the initial work however, you will then be free to give your full focus to your regular job.
By building an online business with solid fundamentals, it will have the potential to become self sustaining and see long term growth for years to come. The money you make off your passive side income will be in addition to your wages from your job, drastically improving your financial situation.
Don't Quit Your Day Job
You have probably seen many videos of other marketers showing you how much money they’re making and how good they are. Much of this is simply a sales pitch designed to get you to buy their expensive course that promises to make you money quickly. Too many beginners fall for these false promises.
The reality is that building an online takes time, patience and a lot of work. In the meantime however, you still have bills to pay and will need a stable reliable source of income. It’s reckless and irresponsible to think that you’ll be able to see results fast enough to replace your job.
This also creates unnecessary pressure and makes you more desperate which creates a dangerous situation. You will be more tempted to try a different business strategy you think will get you the results faster. In reality you’re just starting over and losing all of your current progress.
Instead of thinking of how to replace your job with your online business, you should be thinking about how to supplement your income. This will put you in a much better financial position and give you more options. You can easily build your online business by consistently putting in a few hours daily.
Long Term Goals and Planning
Your online business should reflect your interest and long terms goals. As you create more content you will gain more knowledge and experience around your niche topic. You should choose a topic that you are passionate about and that you are willing to invest a significant amount of time and energy in.
It’s important to keep your niche as targeted as possible and avoid attempting to do everything at once. Too many people get distracted and get taken in different directions which kills their progress. As the old saying goes, if chase 2 rabbits you’ll catch none.
Sales and Marketing is one of the most important and lucrative skills you can develop. It will also carry over into improved social interactions with others in a variety of relationships. You will be able to convey your ideas in a way that generates genuine interest from others
In any crisis scenario developing relationships will be extremely important. People are social creatures and we will always need to rely on others in some capacity. This should be incorporated into your overall plan for thriving during an economic or other crisis, developing a strong support network.
Practical Steps for Thriving
Think about the type of community that you would want to live in. Do you have dreams of finding a western town with beautiful views of mountains? Would you prefer living out in the woods with lakes and small rivers? Perhaps you enjoy the country with wide open fields and hills.
Whatever place you would like you should consider the types of people that you will be living with and part of your community. As we saw in the summer of 2020, certain urban neighbors can erupt into violence with very little provocation. You should be very aware of how at risk your area is for this.
n a strong healthy community people tend to look out for one another, this is a high trust society. One easy way I discovered to gauge this trust is by the local gas stations. Does your gas station leave certain low value items outside like cords of firewood or windshield washer fluid? If so then chances are that is a fairly high trust area. Seeing bulletproof glass and other hardened security precautions sends a different message.
“Minor” crimes such as thefts and vandalism has a negative impact on morale overall. It reminds us that we can’t have nice things without someone spoiling that. People take trips so they can see things like roadside fruit and vegetable stands that still uses the honor system.
I remain optimistic that after seeing the results of low social trust, enough people are waking up and finally paying attention. The results of the lockdowns have also resulted in one of the largest relocations in our modern history. Fear of their safety and future is often one of the primary motivations.
