Money may get a little tighter during a recession. We know prices for nearly all products are going up while our wagers remain the same. Better tighten your belt. Itís all fun and games until someone canít afford to buy their sushi.
Life is about more than money, but hey, we can make do with money if we have to. One solution is to increase the number of income streams that you have. The more income streams we have, the better prepared we are to survive a recession. Follow my suggestions and you will have your business(es) running like a Swiss watch.
1. Buy Fixer-upper Houses
The time to buy in real estate is when prices are low and soft, and when interest rates are low. If that sounds like the present situation we are in, you're right. Buying fixer upper houses gives you the added premium of buying houses at even lower prices and using sweat equity to raise its value. When you're done you can flip you house for short term gain (although it may not be so easy to sell in a recession) or rent it out for long-term gain.
Use your fixer-upper skills to take jobs as a handy man. Once people know that you repair fixer-upper houses their eyes light up. They think of several jobs around their house they would like you to do. When it comes out that I repair fixer-uppers in a conversation with someone, the conversation usually ends with the other person remarking "oh by the way, I have this leaky faucet (or toilet, or roof). I wonder if you could look at it."
4. Write a How-to Book & Pass Along Your Knowledge to Others
Your experiences and unique and people buy books that show them how to make money. Write and publish the book yourself, and yes, (gasp!), learn to market it too. Sell it on Amazon.com.
It may not be as difficult to write a book as you think. Author Robert Benchley once said, "It took me fifteen years to discover I had no talent for writing, but I couldnít give it up because I was too famous."
Hey, if 23-year-old Michael Phelps can write a book, you can too! Okay, so he won a few Olympic gold medals. But, he never won any medals for writing.
Tell people about your daily activities, with an emphasis on how they can make more money or live a better life, and plug your book at the same time. Don't forget, you are an expert! And an expert is defined by Funk & Wagnalls as anyone who has written a book.