Category: Side-Hustle Advice


3 Ways to Gain Control Over Your Career in a Recession

The past few weeks have been difficult for a lot of people. There are people who are sick from the coronavirus and missing their family members. Others have been working from home, or worse, been laid off. And we’re all facing a looming recession.

There was so much “white noise” on social media last week you may have missed my previous posts, including three different ways to help you gain some control over your career in these trying times. In case you missed it, here’s a compilation of those three things you may find useful now or in an upcoming recession.

How to gain control over your career amidst layoffs and a recession

Maybe you’ve been fortunate enough to continue working from home during this coronavirus quarantine. But perhaps you haven’t been so lucky.

Some folks have been told not to report to work. And since their job doesn’t lend well to remote work, they’re having to use precious vacation or sick days. Or worse, they’re being laid off.

If this is you, or could possibly be you in the near future, you probably feel like you have no control over your current career or job situation.

But, there are some things you can do to help you feel a little more in control, and can help you be better prepared in the event of a job loss.

1. Stay in control by updating your resume the right way

If it’s been a while since you last updated your resume, now is a good time to do so. It’s definitely more productive than spending your time watching Netflix while quarantined!

I’m sure there are several things you need to add to your resume since you last updated it. Which means you need to make room for those new things.

So how do you know what to get rid of to make way for the new info? I have several free videos, including one entitled:

What NOT to Share On Your Resume: 13 Things You Should Delete Immediately

You may not realize it, but there are probably some things on your resume that are hurting your chances of landing a job interview. They need to go! Find out what they are before you send your next résumé out by watching the video.

Once you’ve updated your resume, you have a chance of getting a free resume critique from paNASH. Details are available in the video.

2. Be prepared to become a freelancer during a recession

Even if you’re still able to work during the coronavirus quarantine, whether from your office or from home, let me ask you something:

Are you prepared to be a freelancer if forced to?

Think about it. If you lost your job tomorrow and couldn’t find another one right away, would you be able to pick up and start making some extra money?

Do you already have some other streams of revenue in place, like freelance work or a side hustle?

I’ve previously written about the importance of having multiple streams of income. You can’t rely on only one stream because it could evaporate tomorrow.

I’m not saying this to cause you to panic. Instead I say it to help you feel more productive and a little more in control of your current situation.

How to create multiple streams of income

Here’s what you have some control over. Sit down and make a list of skills you have that others would pay you to perform because they lack those skills. Also add to your list anything you own that others might want to rent on a short-term basis.

Decide which items on your list will take the least amount of time to start earning the most money.

Then, get the word out. Use your current social media profiles to do this. And join platforms you’re not already using. Start with the ones that make the most sense for your product or service.

You may be surprised what kind of response you get.

Forced to be a freelancer

Recently, my hairstylist’s husband was in between digital marketing jobs. Although he received several interviews and offers, the offers weren’t financially feasible based on his experience and the potentially long commutes.

While holding out for something more financially feasible, he took some home improvement jobs as a side hustle since he’s good at this sort of thing.

When one side hustle opportunity was completed, another one came along. Then it got to the point where he had so many side jobs to choose from it made more financial sense to make this his full-time gig!

He’s now making more money doing home improvement than he would’ve if he’d stayed in digital marketing.

Need help becoming a freelancer?

If you need help with the steps of starting a side hustle or work opportunity for yourself, let me know. I’ve successfully transitioned to working for myself and have helped several clients do the same.

3. Getting laid off? The #1 thing to ask for when you leave

Getting laid off is difficult and scary. It’s happening to so many people right now due to a recession caused by the coronavirus. It can make you feel like your career and your life is out of control.

On some occasions you can convince your boss or company that you’re worth keeping around. Such as when you’re able to show your past contributions to the company and the savings of letting you work remotely, using hard data. Hard data gets people’s attention.

But if your data doesn’t outweigh the data that supports letting you go, there’s still something you can negotiate.

Outplacement counseling

You can always ask your company to provide or include outplacement counseling in your severance package.

Outplacement counseling is simply another term for career coaching or job search assistance. It’s set up to help you find your next job more quickly, and to make a smoother transition to it.

Many companies already offer it in their severance packages. I know this because I’m often one of the people they pay to provide such a service for their employees.

Take advantage of outplacement

If your company already offers outplacement counseling, take advantage of it! I’m always surprised at how some people just toss this benefit aside. Their company has already paid for the service, yet some employees think they don’t need it.

Even if you don’t think you need outplacement counseling, use it! If you already have another job lined up, use it to help you prepare for your first year in your new job.

Career coaching isn’t just for helping you find a job. It’s also for helping you succeed in your next job and building your career. And everything discussed in your coaching sessions remains confidential. It will never be shared with your past employer.

Ask for outplacement

If you’re getting laid off due to the coronavirus, and your company doesn’t offer outplacement counseling, ask for it! What do you have to lose at this point?

If your company needs convincing, help them understand how it not only benefits you, but also their business. It protects the company’s brand and reputation. It mitigates the risk of litigation. And, it provides them the opportunity to do the right thing for their employees.

If your company agrees to pay for the service but doesn’t have anyone to provide it, tell them you know someone! Feel free to have them email me, Lori Bumgarner, at lorib@yourpassioninlife.com. I’ve provided outplacement counseling to hundreds of companies’ employees over several years, especially during times of recession.

Additional help when getting laid off

If your company says no to offering outplacement counseling, there are still some free and affordable resources here at paNASH, starting with paNASH’s on-demand programs and free career success videos. Click here to receive free access to the following videos:

Control what you can during a recession

Knowing what you can’t and can control means the difference between feeling panicked and empowered. Hopefully the tips and resources provided here will make you feel more empowered. I look forward to helping you navigate these uncertain times in your career!

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Are You Prepared to Be a Freelancer If Forced To?

Part 2 of 3 posts

Even if you’re still able to work during the coronavirus quarantine, whether from your office or from home, let me ask you something:

Are you prepared to be a freelancer if forced to?

Think about it. If you lost your job tomorrow and couldn’t find another one right away, would you be able to pick up and start making some extra money?

Do you already have some other streams of revenue in place, like freelance work or a side hustle?

I’ve previously written about the importance of having multiple streams of revenue. You can’t rely on only one stream of revenue because it could evaporate tomorrow.

I’m not saying this to cause you to panic. Instead I say it to help you feel more productive and a little more in control of your current situation.

How to create multiple streams of revenue

Here’s what you have some control over. Sit down and make a list of skills you have that others would pay you to perform because they lack those skills. Also add to your list anything you own that others might want to rent on a short-term basis.

Decide which items on your list will take the least amount of time to start earning the most money.

Then, start getting the word out. Use your current social media profiles to do this. And join platforms you’re not already using. Start with the ones that make the most sense for your product or service.

You may be surprised what kind of response you get.

Forced to be a freelancer

Recently, my hairstylist’s husband was in between digital marketing jobs. Although he received several interviews and offers, the offers weren’t financially feasible based on his experience and the potentially long commutes.

While holding out for something more financially feasible, he took some home improvement jobs as a side hustle since he’s good at this sort of thing.

When one side hustle opportunity was completed, another one came along. Then it got to the point where he had so many side jobs to choose from it made more financial sense to make this his full-time gig!

He’s now making more money doing home improvement than he would’ve if he’d stayed in digital marketing.

Need help becoming a freelancer?

If you need help with the steps of starting a side hustle or work opportunity for yourself, let me know. I’ve successfully transitioned to working for myself and have helped several clients do the same.

Stay tuned for the final way to maintain control in part three. Submit your name in the right hand column to receive alerts for new posts.

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How to Say No and Have More Time For Your Passions

In last week’s post entitled “The Best New Year’s Resolutions to Boost Your Career,” I gave you seven resolutions to try this new year. One of those resolutions was to do less so you can have more time to focus on your personal and professional goals.

This may sound impossible, especially given your current work schedule and all the other resolutions you’ve made for yourself this year.

But there are several things you can do less of  to carve out more time for your goals and passions.

Say yes less and learn how to say no more

It can be hard to say no, especially for people-pleasers. Anytime you’re faced with a task, activity, or event, ask yourself the following questions before immediately responding with “yes.”

  • Will I enjoy it?
  • Does it earn income?
  • Will it open up more quality time with my family?
  • Is it something leading me one step closer toward a goal of mine, like starting my own business?
  • Does it support my personal mission statement?

If you can’t answer yes to at least three of the above questions, say no or delay giving a commitment if you need to think about it some more. Perhaps you can say yes, but need to set some clear parameters or boundaries. For instance, you may agree to help with the task but for only a certain amount of time.

Most importantly, make sure you measure the opportunity against your personal mission statement to see if it supports it or distracts from it. If you don’t have a personal mission statement, check out my post “How to Make Your Big Decisions More Simple” to help you create one.

If you realize it’s best to say no to the request, do so politely. Simply say, “I appreciate you thinking of me, but unfortunately it’s not something I can commit to at this time.” You don’t have to give any further explanation.

If the person doesn’t respect your response and keeps pushing the issue, keep repeating the above statement without changing it or adding anything to it. He or she will eventually accept your response or move on.

Outsource what you can

If the task or activity is an obligation, determine if it can be delegated our outsourced. While you may not like the idea of paying to outsource the task, the time saved from hiring someone can open up more time for you to do work you find more enjoyable and more profitable.

For instance, housework is a necessary evil and it has to get done. Some weeks I have more clients and more billable hours than I have time to spend doing my housework. But if I can make more money in an hour or two doing a job I love than I’d spend on a visit from a housekeeper, it makes more financial sense to pay the housekeeper so I can have the time to make more money and grow my business. Plus, not having to spend the extra time cleaning frees me up to spend time with friends or family.

When considering what can be delegated or outsourced, choose to delegate or outsource the tasks you enjoy least or make you the least money yet require the most time.

Work within your skill set

Make sure you’re spending your time working within your skill set. Don’t expend time or energy trying to get better at the things you’re not good at. Instead, let those be the things you delegate or outsource.

When I do presentations on the topic of personal branding, I often ask the audience why it’s important to know your weaknesses. The usually say it’s so you can know what skills you need to learn or improve. But this is not the correct answer. Instead, it’s so you can know what to say no to.

Do the things you do best and forget the rest. Stop trying to fit a square peg into a round hole or you’ll just get frustrated and waste your time. You were created with certain gifts. You’re a good steward of those gifts when you’re using them instead of trying to take on someone else’s gifts.

Be selective in who you work with

You don’t always get to choose your boss or co-workers, but on the occasions you do, only work with those who are receptive to what you’re doing.

This is especially important if you’re starting your own business. If a potential client or partner doesn’t get your vision or mission, don’t waste your time trying to sell them on it. Save this time and energy for those who do get it.

This is why I’m selective in who I take on as clients. The ones who see the importance of career coaching and understand their return on investment make my work so much more enjoyable and less stressful.

If you do have to work with someone difficult, keep any necessary interactions with the person as short and limited as possible. During those interactions stick to facts. Don’t express your emotions to someone who can’t be trusted with them. Also, establish boundaries and repeat them if necessary. And above all else, remain professional.

Downsize

If you’re spending more time and money having to maintain your material possessions, it’s probably time to downsize.

Get rid of the stuff that costs you more to maintain than it provides you convenience. Better yet, sell those items and use the money as seed money to start your own business or side hustle.

I promise, you won’t miss those things tying you down.

Say no to time-suckage activities

While you’re at it, also eliminate any unproductive activities sucking up all your time. This includes scrolling through social media, binge watching Netflix, talking on the phone with people who only want to gossip instead of talking about more meaningful things.

At the very least, reduce the amount of time you do these things by 30%.

With all the free time you gain back, use it to learn a new skill, read a book, or write a business plan for your own company you hope to start.

Screen your calls

I have a personal rule. If I don’t recognize the number calling me, I don’t answer it.

I’m surprised how many people don’t do this. Especially given the number of robo-calls people get these days. If it’s important, the person calling will leave a message.

Manage your time better

Sometimes finding more time for your passions simply requires you to revisit some tried and true time management practices. This includes setting deadlines for the obligations you can’t delegate or outsource. Put those things on your calendar.

Speaking of calendars, once you’ve incorporated some of the above suggestions in your life, look to see how much time has been freed up on your calendar. Write in the productive things you now want to use this time for in pursuing your passions.

In addition, if you like to make a to-do list for everything, consider writing a to-don’t list too. This can also help you manage your time better.

Get over your FOMO and say no

Some of the above suggestions may make you feel like you’re missing out on some things. But consider what you’re really missing out on if you say no. It will be the things that have no real pay-off in your life.

Sometimes the joy of missing out (JOMO) can free you up for the things you should say yes to and should never miss out on.

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You Shouldn’t Have to Pay for Your Paycheck! How to Beware of MLMs

Let me preface this post with the fact that there are some people who have made a good living out of direct sales/multi-level marketing (MLMs). But they’re typically the exception and not the rule.

This post is not a judgement of those who work as independent sales reps in direct sales. Instead, it’s a concern over the MLM companies’ questionable structure and unethical practices. It also serves as a warning to those who are in a vulnerable place financially and career-wise and therefore are considering joining an MLM before knowing the facts and risks involved. As a career coach I wouldn’t be doing my job if I didn’t provide the following words of caution.

What are MLMs?

Direct sales is also known as multi-level marketing (MLM). This is where people pay a buy-in fee and purchase inventory to sell a product directly to a customer, while also recruiting others to do the same, earning some money from sales, but mostly from their recruitment and their downline’s sales.

You’ve probably had a “friend” or acquaintance you haven’t heard from in ages hit you up on Facebook wanting to meet for coffee. You agree because you’re so curious as to why they want to meet with you after so long. When you do meet with them, you realize there’s more of an agenda than just coffee and catching up. They want to talk with you about “an amazing career opportunity” guaranteed to “change your life.”

This opportunity will let you be your own boss, work from home, make your own hours, and earn as much money as you’d like. Plus, they say, it provides independence, empowers you, and uplifts you.

This might sound great to some people. Especially those who are at a low point in their lives or careers and need lifting up. Or those who have just lost their jobs or want to spend more time at home with their children.

But are MLMs a viable career option? Can you really make money in an MLM? To answer this question, let’s first look at the statistics.

Consider the truth and understand the risks.

MLM companies are making a fortune, but the participants are NOT. From my research (see sources below), only one percent of people who join MLM companies earn money. The other 99% actually lose money. Some as much as five-figures.

Many MLMs require steep buy-ins, as much as up to $5,000 for some. And depending on the product and the structure of the MLM, these costs continue on a monthly basis due to monthly inventory purchase requirements to stay active and earn rewards. But typically, commissions on inventory sold are very small. Usually there is more emphasis instead on recruiting a downline.

This might sound a lot like a pyramid scheme. Because by definition, it is when the emphasis is on recruitment of a downline.

“One of the hallmarks of an illegal pyramid scheme is a promise that sellers will make money from recruiting others rather than selling the product,” says the Federal Trade Commission.

So if an MLM is pushing you to recruit more than they are pushing you to sell, BEWARE!

And, even if an MLM is legal by the above definition, it’s practices my still be unethical.

MLMs cannot turn you into an entrepreneur!

MLMs promise a “safe” way to become an entrepreneur. News flash: becoming an independent sales consultant for an MLM does not make you an entrepreneur! The only entrepreneur in this game is the one(s) who created the product and created the company itself.

And just because the opportunity lets you make your own hours this also does not make you entrepreneur. So don’t fall for this sales pitch.

There’s not much that’s financially safe about joining an MLM. As stated above, most people who join MLMs lose money. Those who do make a profit average only about a $1,500 profit per year.

You’re likely to be more successful by being a true entrepreneur and starting your own business. The amount of hard work required in MLMs just to stay afloat could be better used to build something more profitable and something you’re truly passionate about.

And you’re likely to be more successful. Statistics show about 39% of small businesses earn a profit over their lifetime versus 1% of MLM reps.

My guess is, there’s probably something you’re more passionate about than just being a glorified distributor for lipstick, leggings, or “nutritional” juices. Why not pursue those passions with the time, energy, and money you’d spend on something you’re not passionate about? At least you’d likely have more to show for it than a garage full of unsold inventory.

MLMs prey on women

Seventy-five percent of people currently signed with an MLM are women. This number is due not only to the type of products, but also to the increased cost of child care forcing women to stay home with their children. There’s no wonder MLMs prey on this predicament.

They use the appeal of working from home, making your own hours, becoming a “mommypreneur” and being a “girl boss” to lure women who are in this financial predicament.

However, instead of seeing their income grow, women who’ve been involved in MLMs have seen their debt grow.

“MLMs are the most despicable form of corporate feminism. They use their ‘you go girl’ branding to trap capable, ambitious women in a worsening cycle of debt. If MLM founders actually believed in empowering women they wouldn’t scam them out of their life savings,” says one journalist.

Ladies, don’t settle for being a “girl boss”. Aspire to be a “woman boss” and take control of your career! You shouldn’t have to pay for your job!

Viable career option, or risky gamble?

If you already have a proven track record as a leader, salesperson, and someone who can REALLY hustle, then joining an MLM could be a viable career option for you. But you need to understand the risks. One journalist has said, “The risk with MLMs is so high you’d be more successful at making money gambling than you would at joining an MLM.”

So before you sign up and pay your buy-in fee, do your research! This includes talking to former reps and participants, finding out why they left, and learning about the products outside of what the company says about the products.

Most of all, find out if the commission on your personal sales is higher than the commission on the sales of your downline. If it is, then it’s likely more reputable than most other MLMs.

I also suggest having another source of income when you first start, whether it’s a full-time or part-time job, and/or a spouse who’s also bringing in an income (with benefits).

Finally, be realistic about how much you can ultimately invest in the opportunity before you risk unmanageable debt. Make sure someone outside of the MLM (a friend or family member) holds you accountable to this amount. So many people get caught up in the recognition and awards that come from the amount of inventory purchased (NOT the amount sold!) they overspend just to reach those recognition goals.

If you already have too much personal debt, it’s not worth the risk at all. Besides, if you have to pay for a job or a paycheck, it’s probably only going to benefit the person receiving your buy-in money, not you!

Sources: http://abcn.ws/1PUpW8I, https://www.finance-guy.net/mlm-reviews, http://www.pinktruth.com/, https://bettingonzero.com/, https://youtu.be/lLBmElR0Luw, https://youtu.be/s6MwGeOm8iI, https://medium.com/@antionetterparker/why-creative-memories-just-couldnt-compete-review-4860f97dcf86

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How to Avoid Common Mistakes That Could Ruin Your Career

There are many wrong moves you can make in your career. We’ve all fallen on our faces a few times, especially during the learning curve of a new job. But some mistakes are worse than others.

Today I’m focusing on some of the common mistakes that can ruin your career and how you can avoid them. I won’t include the obvious ones like doing something illegal. Everyone should already know not to do anything illegal!

6 Common Mistakes That Can Cause Career Ruin

1. Agreeing to a superior’s order to do something unethical.

It’s obvious to most people not to do anything illegal in their career. But it may not be so obvious to others they shouldn’t do anything unethical. Even if it’s an order from your supervisor.

If your supervisor has no problem making such a request, he or she probably has no problem throwing you under the bus when the unethical act is discovered. And it will eventually be discovered. Everything comes to light sooner or later.

If ever faced with an order to do something unethical, explain your discomfort and document the conversation. If your boss tries to push the matter or threatens to fire you, start looking for a new job ASAP! You do not want to continue working for someone like this.

If you get fired for refusing the order, you should be able to collect unemployment until you find something new. And depending on the circumstances, you may have a legal case worth pursuing.

2. Relying on just one source of income.

Since anything can happen in your career where a scenario like the one described above could leave you suddenly without a job, you should never rely on just one source of income.

As I’ve written before, there’s no such thing as job security in any company. So start NOW pursuing a side hustle or passion project for a little extra money or start making smart investments. This will help tide you over if you find yourself between jobs or decide to start your own business.

3. Accepting a counter-offer from your current employer.

One of my co-workers at a university where I used to do career advising started looking for a new job at a different university. When he had a potential offer from another place, he casually mentioned to me he might tell our supervisor to see if she’d counter-offer with more money to get him to stay.

I looked him dead in the eyes and told him “Do NOT do it!” He looked a little confused when he asked me “Why not?”

I told him taking a counter-offer can be career suicide. My answer is the same to you if you’re considering accepting a counter-offer.

There’s a reason (or reasons, plural) why you went looking for work elsewhere in the first place. It’s likely those reasons won’t change if you stay for more money. And while the additional money may seem great at first, it won’t outweigh the distrust and resentment which will grow between you and your supervisor or co-workers after cutting this type of deal.

When you do finally leave your employer (and you will), word will get around to other potential employers how you manipulated the situation. This will make you the kind of candidate they won’t want to hire.

4. Overstaying at an unhealthy job.

If your job is affecting your mental or even your physical health, it’s time to go. No job is worth your sanity or your health.

If you overstay at a job like this, you could become so unhealthy you run the risk of not being able to work at all, and therefore losing your income anyway.

Do what it takes to find something new using the resources available on this blog and on paNASH’s on-demand video courses.

5. Agreeing to take on extra work without extra pay for an indefinite amount of time.

There may be times when your company is short-staffed and you have to pick up the slack. When it’s necessary to take on extra work for the best interest of the entire company, you should do so.

However, this should only be temporary. And before agreeing to this, ask what the set end date will be for the extra workload. If you’re told, “until things settle down,” don’t accept this as an answer.

Instead, indicate the length of time you’re willing to do the extra work and schedule a meeting as soon as possible to discuss how you’ll be compensated for any extra work done beyond the specified date.

For instance, you’d say, “I’m happy to cover Sallly’s projects until the end of May. You and I can meet next week to decide how to move forward in June.”

Whatever agreement you come to, get it in writing.

If you’re still doing Sally’s work in June, you need a title change and pay adjustment, or at least a bonus.

6. Promising your employer you won’t job hunt.

Unless there’s a formal agreement in place or you’re receiving tuition reimbursement, never promise not to job hunt or to stay with your company for any specific length of time.

If your boss begs you to stay in a time of high turn-over or a rough patch, ask her for an employment agreement giving you the same assurance she’s asking of you. If she won’t or can’t, don’t allow better opportunities to pass you by.

These are just a handful of mistakes that can ruin your career, but equipped with the knowledge above you’ll be able to maneuver these landmines so you can move successfully through your chosen career path unscathed. Consider it career self-defense!

Click here for more career advice.

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