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7 Things You Can Do to Make Money in a Recession Davida Yemi-Akanle is a Money Mentor and Coach, who has a burning passion to help people get rid of their money worries by Making Money and Saving Money; helping them to take vital steps towards becoming financially free. Davida’s Personal Finance blog is Creative Ways to Make Money; her other blog is Christian Inspiration.
With the recession tightening its grip, not all is doom and gloom, not for everyone at least. Many are riding the waves of this recession; there is no reason why you can’t do the same too!
Remember, Jesus walked on the sea, in spite of the storm, in spite of the winds and waves of adversity. He didn’t do this to just show people what he could do; he did it so that you and I could have the confidence that we could do it too!
A recession is nothing new. So why does it take people by surprise?
Recently when I was having a word with the Lord He spoke these words to me: “Even as Joseph prospered in famine, so shall you prosper in this recession”.
It was then that a light came on, and I realized that a recession was a famine; and that God can take care of his own people today, even as he had done in the times of previous worldwide famines.
These are 7 things you can do if you are looking to make money when times are rough and tough:
#1. Get Direction
Everyone is running helter skelter looking for a way to shelter themselves from the impending doom and gloom announced everyday in every form of media.
However, since confusion begets more confusion, this is not a time for you to jump on this bandwagon; it’s the time for you ask God for wisdom.
Ask God for wisdom, and he will give it to you. Ask him for direction, and he will be your guide. Be expectant and listen out for what he has to say.
#2. Become Creative
We are creative creatures and can think new ideas, and come up with new thoughts. When times are tough you must be able to think out of the box.
People’s current ways of thinking has created the problems that exist, to experience something different, you have to think differently, and do something different.
#3. Be Positive
During difficult times, people become so fearful, they become paralyzed with fear. Instead of jumping off a ship that they see rapidly sinking, they choose not to see the hand writing on the wall, and continue to do the same thing they’ve always done.
Believe that there are opportunities out there, because they are there; and expect doors of opportunity to open up for you.
Believe that even if one opportunity comes to an end, there is a better one waiting for you. Believe that God is looking out for you, and that he’s given you favour with people too!
Positivity begets more positivity, as every seed produces after its own kind.
#4. Be Ready to Grow
You have more potential that you are currently using, difficult times makes it necessary for people to employ more of their abilities than they are normally used to using.
Decide to use the difficulties as your stepping stones to grow, and develop skills that you would not have in the past had the opportunity to grow.
Make yourself more employable, more attractive, more informed, soon you’ll find that you’re not having to run after opportunities, but that opportunities are knocking at your door.
#5. Deal in the Essentials
In times of adversity people cut back on their spending, as they try to adjust to the signs of the times.
However it is difficult to cut back on essentials and these essentials are the last to be taken off from their list.
Anyone, whose business deals in necessities, has a much higher chance of weathering the storms of adversity.
- High on the list of essentials is food, and shelter
- After this comes things like gas, electricity especially in colder climates
- For those who are aged or sick, care services and health products may come high on their list.
- Then you have things like communications services, like mobile phones and the internet; for both individuals and businesses.
#6. Provide Opportunities to Help People Save Money
In financially difficult times, people are looking for opportunities to save. A lot more people start to make shifts to buy based on price rather, than quality, just to make ends meet.
I recently did a keyword research on the internet, just trying to find out what people really want; to my surprise there are so many people out there looking for ways to make ends meet.
Thrift shops, discount clubs, second hand shops all do much better in difficult times, as people are looking for ways to get their money to go further.
Think of ways to help people save money on things like their food shopping, or household utilities, as this could go a long way.
If you are already in business, find ways to provide your services at much cheaper rates than your competitors, this can persuade them to change suppliers, bringing more money your way.
#7. Provide Opportunities to Help People Make Money
If you have a home business, or could find a great home business opportunity, that can genuinely provide an opportunity to help others make money, this is a great line of business to be in such times.
When times are tough, people are ready to move out of their comfort zones looking for green pasture; and the green pasture for many could be your home business opportunity.
With many people being made redundant and unemployment figures soaring everyday; people are ready to do what it takes to bring in some income, even if it means starting their own business.
Join a home business opportunity, they generally much easier to start than starting a traditional business:
- The learning curve is much lower
- You are in business for yourself, but not in business on your own
- You have the support and guidance that your sponsor provides
- And the training and support that the company provides
Some of these businesses, that help people save money and make money are recession proof; they thrive during difficult times and help those involved in them thrive too.
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