The news continues to report on the many industries that are implementing mass layoffs. So this week I wanted to talk to you about creating recession proof Cash Machines. Now, I know many of you are already balking at the idea of starting a business in this kind of economy and to them I say it’s time to shift and adjust your thinking.
For months I have been writing about how to create your own economic climate. My latest publication is a multi media ebook called ‘Get Off Your Lazy Assets‘ where I show the 9 Essential Assets you already possess to create continuous wealth cycles. (I hope you downloaded your copy — you can get a free preview chapter here). Right now it’s helping people just like you discover what it takes to survive in any economy.
If you or someone you know is facing a layoff… this could be your golden opportunity to create a Cash Machine for Life! Yes, the economy is shaky. We’re in a bit of a slump but it doesn’t mean there’s not an opportunity for you.
REMEMBER your Cash Machine is not your dream business (it could be, but for most it’s not). A Cash Machine is a business that creates continuous streams of cash flow, which is then re-invested. Many people have several different Cash Machines. So be very careful with your thinking. Don’t get stumped with trying to fit or find your passion in business. You’ll have plenty of time for that when you are in a cycle of wealth.
So what are some businesses that could be used in this kind of economy?
If you’ve followed my methods and strategies you may already know what your skills and talents are, now you need to leverage those ‘assets’ into cash. You also have to think about what’s going on around you. How can your skills and talents be utilized for profit?
Think of what people and businesses need BECAUSE of the current economy. Don’t think of things they are likely to be cut, like advertising or elaborate personal shoppers.
Foreclosures are up.
Banks might need people to maintain properties.
There have been large amounts of layoffs.
People looking for work need all kinds of services like resumes, computer training, and headhunters, just for starters.
As the old adage says “You can always count on death and taxes”.
It sounds morbid but there are many services people who have lost loved ones could benefit from i.e. someone to organize estate sales or box items for charity, or a person to help prepare homes for listing.
If your skill set includes accounting you already know…’tis the season.
You might not want to do taxes for people so think of ways to help other accountants. They need to eat, drink loads of coffee, and maybe could use a quick chair massage. Perhaps delivering coffee and sandwiches or organizing a group of massage students to make rounds at local H&R Blocks, do a 10-minute massage for $10, split the difference.
Big businesses and small businesses alike are looking for ways to save money. Consumers are looking for much of the same. How can you help them do that? What are your skills and assets? How do you fit in?
Remember not all businesses will do well in economic down turns. Think niche. It’s a cash machine — you need to be using your resourcefulness muscles.
What are your ideas for Cash Machines that could do well in this economic climate?
To Your Wealth!
P.S. Comment below. I’d love to hear from you. What’s on your mind?