Don't let the Recession spoil your Business
All we seem to hear these days is recession, recession, recession – Europe is in Recession, Greece is suffering Austerity, the Euro might collapse, the Footsie is falling, our money is losing its value, our savings are going into negative equity, “Bonus” is a dirty word, even the mighty American Dollar is wobbling ! Where is there any good news?
So it occurred to me that the only way to protect my own income was to set up a work plan to generate more of it. How can we do that in times of recession you are asking?
In my case I am starting with a modest objective that I am calling my extra funds generation plan. This will involve me in thinking up a series of activities that will help me to generate new income each day on a modest scale. I planned to start in a small way, and look for opportunities to increase my earning potential as the ideas expand.
I chose the Financial Year as a suitable profile as it starts, to all intents and purposes, on April 1st. The Taxation departments start their year at this point, and most businesses also follow the same plan and have their new yearly budgets kicking into operation at that time, so have more funds to play with.
CREATE LISTS.
Be very positive about your money generating concepts.
• Make a list of all the ways you think you can generate a modest sum each day. I have considered a range of ways of boosting my cash flow and in the initial stages, there could be ways in which I can REDUCE my actual daily spending. For example, I can shop creatively around the “value” products in the shops and buy own brand items instead of branded, which means that I actually spend less.
• Use lists to generate ideas. What are you good at doing? Marketing, teaching, Counselling, advice on things, cooking, party organising, shopping, gardening, child care, sewing, dog walking etc? Even if you are working full time, there are always gaps in your day that an extra ‘job’ can fit into. I am personally looking at creating written materials and structuring a marketing service for my regular clients. My modest goal is to try and generate an extra £3650 over a year.
Notice that I want EVERY day of the year to make its target. To begin with, I may have to be satisfied with just SAVING money on my purchases for the first month or so from my usual shopping requirements, but this will start my funds development well and is a positive approach. This gives you time to get your unique ideas into play.
Creating my Personal Fund Development list:
I decided to keep a separate work diary, on my computer, and enter on each day how I plan to generate my funds. When the money comes in, I tick it off on the chart ! This might sound simplistic, but in this way I can see how the plan is materialising.
How can this work?
I have given careful thought to all the things I might be able to do.
• I operate a marketing service as part of my normal business operation, so I set up a newsletter for the benefit of all my clients that is issued on a monthly basis. My clients all have a free slot and I have a few spare slots that I can offer to other businesses. This will generate more awareness of my services as well as theirs.
• I can prepare end of year tax assessment documents, which from this year have to be done online to HMRC, so perhaps I can offer a service to self employed traders or small businesses/new start-ups, who need help with their accounts records. This could generate a modest income.
• Part of my career basis has been journalism so I have prepared a booklet of advice to budding writers which I am planning to market.
• I have also written a Creative Writing course for people wishing to set themselves on the road to journalistic (and therefore paid) writing.
• It has also been suggested that I should offer a letter writing and form filling service to people within the community who find these things somewhat of a chore. This is something we all take for granted, but perhaps it is something more of us could consider as a service to our neighbours.
I have worked in a very limited way within my own area, but it is even better if you can work on a wider regional basis, operate your “business” concept over the internet and perhaps create a blog so that people around you, that you may not yet know, can see what you are doing.
Sharing ideas with others is always a good thing, because that way you can all benefit from each others good ideas.
So don't let the Recession beat you. Join me in finding yourself a new money generating idea and boost your own income in this coming financial year. .
So it occurred to me that the only way to protect my own income was to set up a work plan to generate more of it. How can we do that in times of recession you are asking?
In my case I am starting with a modest objective that I am calling my extra funds generation plan. This will involve me in thinking up a series of activities that will help me to generate new income each day on a modest scale. I planned to start in a small way, and look for opportunities to increase my earning potential as the ideas expand.
I chose the Financial Year as a suitable profile as it starts, to all intents and purposes, on April 1st. The Taxation departments start their year at this point, and most businesses also follow the same plan and have their new yearly budgets kicking into operation at that time, so have more funds to play with.
CREATE LISTS.
Be very positive about your money generating concepts.
• Make a list of all the ways you think you can generate a modest sum each day. I have considered a range of ways of boosting my cash flow and in the initial stages, there could be ways in which I can REDUCE my actual daily spending. For example, I can shop creatively around the “value” products in the shops and buy own brand items instead of branded, which means that I actually spend less.
• Use lists to generate ideas. What are you good at doing? Marketing, teaching, Counselling, advice on things, cooking, party organising, shopping, gardening, child care, sewing, dog walking etc? Even if you are working full time, there are always gaps in your day that an extra ‘job’ can fit into. I am personally looking at creating written materials and structuring a marketing service for my regular clients. My modest goal is to try and generate an extra £3650 over a year.
Notice that I want EVERY day of the year to make its target. To begin with, I may have to be satisfied with just SAVING money on my purchases for the first month or so from my usual shopping requirements, but this will start my funds development well and is a positive approach. This gives you time to get your unique ideas into play.
Creating my Personal Fund Development list:
I decided to keep a separate work diary, on my computer, and enter on each day how I plan to generate my funds. When the money comes in, I tick it off on the chart ! This might sound simplistic, but in this way I can see how the plan is materialising.
How can this work?
I have given careful thought to all the things I might be able to do.
• I operate a marketing service as part of my normal business operation, so I set up a newsletter for the benefit of all my clients that is issued on a monthly basis. My clients all have a free slot and I have a few spare slots that I can offer to other businesses. This will generate more awareness of my services as well as theirs.
• I can prepare end of year tax assessment documents, which from this year have to be done online to HMRC, so perhaps I can offer a service to self employed traders or small businesses/new start-ups, who need help with their accounts records. This could generate a modest income.
• Part of my career basis has been journalism so I have prepared a booklet of advice to budding writers which I am planning to market.
• I have also written a Creative Writing course for people wishing to set themselves on the road to journalistic (and therefore paid) writing.
• It has also been suggested that I should offer a letter writing and form filling service to people within the community who find these things somewhat of a chore. This is something we all take for granted, but perhaps it is something more of us could consider as a service to our neighbours.
I have worked in a very limited way within my own area, but it is even better if you can work on a wider regional basis, operate your “business” concept over the internet and perhaps create a blog so that people around you, that you may not yet know, can see what you are doing.
Sharing ideas with others is always a good thing, because that way you can all benefit from each others good ideas.
So don't let the Recession beat you. Join me in finding yourself a new money generating idea and boost your own income in this coming financial year. .
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