How is the Economy Affecting You?

It’s a good question to ask these days because of the bailouts of several large banks and the struggles the automakers are having. You may have lost your job, know someone who has lost a job, or have worried about losing your own job. Unemployment is the highest it has been in quite a few years.

There is a great deal of bad news that was mentioned simply in that first paragraph. It is good to come back to the question that started this blog post. How is the economy affecting you? You can take this question in stride or you can then turn it around from there: how will you let another bad economy affect you? If you ask the question in that sort of tone, you are being much more proactive. Let’s think through this a bit. If you are worried about your job and are concerned about your company, you need to find some way to recession proof your income. One of the best ways to do that is through starting your own business.

Your own business is something that you should look into. If you build a good business and take care of your customers, a recession will not affect you as strongly as someone with a job at a struggling company. You will lose some customers potentially because people may buy less but you have many streams of income because of many customers as opposed to one stream of income which would be your job. A recession could be a great opportunity as well because this is when many other businesses stop marketing and advertising. You could pick up more customers or prospects because of their decision so that you could actually increase your business’s revenues and your income.

Think about that when you are looking into how the economy is affecting you. Do you want to have more sleepless nights the next time something like this happens or wouldn’t it be better if you could simply avoid the whole question by having your own business?

Here is an idea for a business you may want to start from home.