We used to work in a world where you could rely on employers to provide you almost with a job for life provided you worked hard and produced good results. However, today’s world of employment is very different. There are no ‘safe jobs’, no ‘jobs for life’, no ‘easy rides’.
Executives in major organizations are increasingly recognising that they need to spread their risk by protecting their income in case their organization has to downsize and reduce its headcount. Invariably ‘being let go’ from a corporate job is not a negative comment on an individual’s capability or performance but instead a reflection of an increasingly unstable business and organizational world where the future is becoming increasingly volatile and unpredictable.
So what can you do to protect yourself against losing your income, your lifestyle and your professional identity if the unmentionable happens?
There are many ways to create a second source of income and we will consider just three in this article.
In order to identify what type of home based business you want to develop it’s important to think about what you do and don’t want from a job.
Many people want to be their own boss and choose their working hours. For many of us commuting the same route everyday becomes a chore and we want to break out of that cycle. Most people want to earn more money with less pressure from the boss to perform and many want to spend more time at home than away from their family.
For most of us the idea of working from home with its comforts and freedom of how we use our limited time on this planet is a great attraction. We want work which is engaging and enjoyable which leads to job satisfaction. And for many people who tend to run out of money before the end of the month the ability to increase their income whilst still working with a full–time job is very attractive.
So how do we go about setting up a home based business where we are the boss?
Firstly can you identify something on the edge of the profession in which you are currently engaged that you could develop as a business from home?
As an example, one highly talented musician found that he could earn more money per hour, more reliably by establishing a teaching practice at home than in waiting for the phone to ring to book him for engagements and concerts. It didn’t stop him playing in public but his home based business taking everything into account became much more profitable and controllable than relying on other people to book him to perform.
Another professional found a lucrative market in article writing and public speaking so that he could pass on his experience to others developing careers in his field.
The second way to protect your future is to work towards creating a portfolio lifestyle as a self employed consultant in your field and work for several organizations part time. This has the great benefit of ensuring that you don’t get caught up in the internal ‘politics’ within the organization and that you are free to develop relationships with those clients with whom you do enjoy working.
However, the third option and one which is becoming increasingly attractive in terms of cutting down commuting and travelling time and cost is making money through an internet based business. There are many options available from earning commissions through affiliate marketing schemes with companies such as Amazon and E bay, selling e books and other digital products on line either for other people or generated by yourself. There is also the possibility of providing internet marketing effort for established businesses who already sell from a retail store or other outlet.
Given the way society is developing with increased concern about carbon footprints, global warming and sustainability, on line business development is set to become the major growth area in the marketplace for the forseeable future. It has many advantages and few disadvantages. In particular, the capital involved in setting up an internet based business can often be much less that with a conventional business. This is a major benefit in these increasingly difficult financial times.
Author Resource:
Did you find this article useful? John Potter is a leading international business psychologist who regularly gives out free information. Creating a home based business is becoming increasingly important if you want to protect your future against the threat of being let go or made redundant. You can easily build financial security into your future by creating multiple streams of income to protect you against change in your business world or profession. If you would like to know more about how to develop a second source of income to protect your future with full video and tutorial support please visit the website http://www.MaverickMoneyMakersWinsOnline.com
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