Friday, September 25, 2009

Earning Money after Losing Your Job



There is no longer any doubt about our current financial straits: today's economy is in the worst recession since the Great Depression. The unemployment rate is skyrocketing, and companies are continuing to lay off more employees every day. If you find yourself in the unfortunate position of unemployment, then you are in good company. This can be seen as both a positive and a negative. The negative side is the easier to see, especially at first. The job market is swamped with others that have been laid off, including very qualified professionals. However, with the right perspective, you can turn your situation into a positive. Forced time off, whether it is a few days a week or a few months, can force you to focus on your own personal development. Consider this a chance to search for new self employment income opportunities that can help to sustain you in the short term and even continue to supply extra income after you return to work. You may even find a new self employed career in the process.


Develop Yourself


While it is almost certain that you were not looking for forced time off, this can be a good time to reevaluate your options, including self employment. Consider what you really want in life. Perhaps this is a chance to refocus your energy on a new project or to gain some extra knowledge in your chosen field. Join a library and check out some books that interest you. They may help you learn new ideas that will assist with your job search, simply expand your interests, or even contribute to your personal development. If you are interested, skim through a self help book to help you focus on your goals. Rather than wallowing, put your energy into yourself. Take into account the words of the author of "The Science of Getting Rich," Wallace Wattles: "By thought, the thing you want is brought to you. By action, you receive it."

Taking Action


The first thing to consider is where you would like to focus your energy. Would you like to put your past expertise to work in a new way? Maybe you can start your own company or work as a consultant for other companies. While this may take some time to develop, it would allow you to gain experience and earn some extra income. On the other hand, perhaps you would like to explore other income opportunities. If your chosen profession has taken a hit in this recession, explore fields that are booming. Taking a lower paying job in a new field may prove satisfying, even if it is only for a few months. Look around at local community centers, colleges and groups for classes that are of interest to you. They may enhance your knowledge and give you a leg up when you work the interview circuit again, or even give you a way to earn extra income on the side.

It is important to leave no avenue unexplored in this time in your life. Examine your hobbies for income opportunities. Your passion for knitting or woodworking can be more than just a relaxing activity. There are many places online that sell handmade objects by people just like you. You may even be able to sell your professional expertise online by freelancing, consulting remotely, or in any number of other ways. Now is the time to be creative and put your energy into finding new ways to earn income in today's economy.

DO YOU HAVE A BUSINESS OWNER MINDSET?

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