Tag: side hustle


Could You Pivot to Become a Good Freelancer if Necessary?

Does your future include becoming a freelancer? It’s very likely!

“By 2027, a majority of American workers won’t be traditional employees. And with the decline of the traditional employment model, benefits like health care, sick leave, and pensions will largely become a thing of the past. Freelancers are ahead of that curve…in building the new safety net.”

Rafael Espinal, President & Executive Director of Freelancers Union

Last week, I asked my readers to share with me how COVID-19 has changed their career plan for the better. I received two stories from freelancers thriving in the fitness industry, one of the hardest hit industries during COVID.

Freelancer Story #1

A former client emailed me to say he’s used his time during COVID to make some necessary and helpful changes to his fitness and health business. John used the personal branding methods I taught him, along with my model for virtual courses, to create online classes for his own clients. This has opened up a whole new way to reach people he wasn’t able to work with in person.

He’s recently introduced a six-part course on helping you develop mindful eating habits to find peace with food and weight loss. Check out his site at JohnHolley.com.

Freelancer Story #2

Seth and Megan are a married couple I first met when they were both working in the music industry. Seth was a touring musician, so he was already a freelancer. Megan had more traditional employment in the music industry. They both started their fitness business as a side hustle in 2017. But 2020 forced them to go full-time with it.

“Seth and I started Fitness Porter on the side with the goal of eventually transitioning it into our full-time income. But we recognized that when we only put part-time hours into it, growth was extremely slow!

“In late 2019, Seth decided to come off the road. At the time, Fitness Porter wasn’t making enough to support our family, so Seth started personal training at a gym. A few months later the pandemic hit, and the gyms closed.

“With the gyms closed, we enjoyed spending a majority of our time working on growing our business, which gave us momentum. At some point, we had the insane idea of letting go of our steady income and going ‘all-in’ on our business. It didn’t take us long to make the decision to let go of the financial security of a salaried job. We both agreed it was the right thing to do. We wanted to continue with the momentum the pandemic provided us.

“Our plan to grow our business is still evolving. We’re still working hard and leaning into the many hats it takes to be an entrepreneur. If it wasn’t for COVID, we would’ve never tasted what it’s like to work a business full-time. We wouldn’t have seen the results, and we wouldn’t have been brave enough to take the financial risk.

“Since COVID, we’ve had a significant increase in clients, and we’re diving deep into new areas of growth.”

Key take-aways

The key take-aways from these stories are important to remember.

1. Prepare for the future

As you can see from Espinal’s quote above, freelancing is not just a major trend, but a cultural shift in the workforce.

I have a dear colleague and friend who has dreams of freelancing. Her husband already freelances. Because of this, she feels it’s wise for her to stay in her current job with healthcare benefits instead of going out on her own.

But what happens if her employer decides in the next six years to stop providing benefits? Will it finally open a door for her she wasn’t able to open herself? More importantly, will she look back and wish she’d started investing full-time into her freelance business sooner? Luckily, she’s already started freelancing on the side. But like Seth and Megan, she won’t see full income results until she either decides, or is forced, to go full-time with her side-hustle.

One day, you may find yourself working as your own boss and paying for your own benefits, even if you never planned to. There is no one right way to make this career shift. But wouldn’t you want to be prepared? Now is the time to start thinking about what this will look like for you, and how you should pivot when the time comes. paNASH can help you with this.

2. Get on the same page

If you’re married, make sure you and your spouse are in agreement with your career plans, because your decisions affect them too.

Even if you don’t plan to start a business together, you’re going to need your spouse’s support, especially in the beginning when business is slow.

3. Know what to expect

As Megan said, there are many hats a freelancer and entrepreneur must wear. You don’t have to have a business degree to start your own business. But you also must understand this:  a skill does not a business make.

Along with the service or product you’re skilled to offer, you have to have some basic skills to market your business and to manage the financials of it. These can all be learned as long as you maintain flexibility, discipline, and a teachable spirit. Just don’t let the learning curve of running a business intimidate you.

4. Don’t let fear intimidate you

I’ve been there. I know how scary it is to take the leap of starting your own business. I left my full-time job with benefits in August of 2008, right before the Great Recession hit. If I hadn’t left then, I would’ve been too afraid to leave my job once the crisis hit.

But I didn’t let fear or the the lack of experience running my own business intimidate me. Instead, I learned from various sources what I needed to know as I went along.

Having been through this career pivot myself, I’ve been able to teach my clients what I’ve learned. As a result, I’ve saved them a little time and energy in starting their own thing. I can help you do the same.

5. Make your product or services accessible

Like John, there may be a time when you have to shift how you deliver your product and services so they’re accessible to current and future clients. This is where your creativity comes in.

Look at what others are doing to see what works. Determine how you can tweak it to your own brand. If a necessary shift requires a re-brand, paNASH can help! We can walk you through the same branding process we taught John.

This service is useful for anyone having to make a career change, even if they’re not starting their own business, but just changing jobs or industries. Whether you work for yourself or not, your skill set is your product, and you need to make it as accessible for as many opportunities as possible to continue making a living.

Need help?

If you need help preparing for the future of your career, figuring out how to become a freelancer, or re-branding your skill set, email me. I’m happy to schedule a complimentary initial consultation with you!

Related posts

How to Market Your Side Hustle on Your Resume

The past several months I’ve written numerous blog posts covering topics related to doing a job search during the pandemic. This includes topics on how to create additional income streams when furloughed or laid off.

It also includes topics on how to show employers in your next interview that you’ve spent your time wisely during the quarantine. But before you can even land an interview, you’ll have to communicate this on your resume.

You may wonder how you can include a side hustle or other projects on your resume, or if you even should. Well, I already answered this question in a post from May 2018 entitled, “Should You Include Your Side Hustle on Your Resume?

Should you include your side hustle on your resume?

The short answer to this question is YES. And there are certain ways to market your side hustle experience on your resume.

To learn how, I invite you to either read or listen to my post from 2018. From it you’ll find out:

  • How employers view side hustle experience.
  • How it makes you marketable.
  • And how you should market it on your resume.

Stay tuned for more relevant job search topics designed to help you be as successful as possible during these uncertain economic times.

Related posts

Additional resources

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!

Related posts

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.

Related posts:

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, #antimlm

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