14 Nov 2022

Don’t Panic; 12 Powerful Steps to Weather the Recession

0 Comment

How can you weather the recession that’s looming on the near horizon?

An economic downturn appears to be just on the horizon. Massive layoffs, falling stock prices, broken supply chains, and wars appear daily in the news. You could easily get the idea that we are all doomed and will soon be unemployed, living on government handouts, and even begging for food.

12 Steps to Weather the Recession

You can make a choice: give in to the fear and panic or do something constructive to put yourself in a better position for the future, no matter what happens. Below, I’ve listed several steps you can take to get through these tough times and even weather the recession.

Don’t Panic

Panicking will not help. It may be impossible or difficult to eliminate the stress, anxiety, and depression that disruption and change brings to your life. However, by taking positive steps to reduce the risk and increase your options, you can definitely improve your mental and emotional well-being.

Do a SWOT analysis

Examine your Strengths, Weaknesses, Opportunities, and Threats. Keep it simple – it shouldn’t require more than an evening. A SWOT analysis alone will help you wrap your head around coming up with a plan of action. Include three or four points for each. Example: Strength: Experienced programmer, Weakness: Work from home only, Opportunities: 3 good contacts at other companies, Threat: Current company is laying off programming staff.

Build your network on and off social media

The worst and most difficult way to find a new job is the traditional method of applying “through the front door” by responding to ads, sending in your resume, wanting for an interview, and so on. Following this path can get you a job, but you are in line with everyone else. The best job searching method is to network by reaching out to people who may know people who are interested in your skillset and experience. This gets you in “through the back door” and bypasses everyone waiting in life. Build your network now and continue regularly (daily if you can) both on and off social media. LinkedIn is a great place to start.

Ensure you’ve got a plan

After you’ve completed your SWOT analysis, decide what you want to do and come up with a plan to achieve it. Do you need more training? Figure out how and get it started. Do you need certifications? Put the on your schedule. Do you need to be interviewing? Get out there, network, and get some interviews.

Consider a second income

Moonlighting at a second job, freelancing, and pursuing a “gig economy” job (such as Uber) can help you financially and emotionally if you lose your main job. Freelancing is an excellent way to make a living, part- or full-time, but you need to network and spend time to find clients. If this appeals to you, add it to your plans.

Write or freshen up your resume

Take a look at your resume. Is it current? Does it read well? Does it accurately document your skills, education, training, and work history? Do you even have a resume (one written 8 years ago doesn’t count)? A well written, highly targeted resume tells your client (for freelance jobs) and potential employers about your skillset, experience, and other traits. They use this information to determine if you are a fit for the position. Customize your resume as needed when you apply to positions. If you need help, contact me.

Update LinkedIn profile

Once you have your resume updated, spend the time to write or update your LinkedIn profile. Most employers and clients will look at your profile, so you want it to be very professional. Remember, a LinkedIn profile is NOT a resume – it’s your professional story. I am a professional, trained LinkedIn profile optimizer. Contact me i if you’d like help with this.

Post regular articles on LinkedIn and other social media

Post a short article (at least) regularly on LinkedIn, which is the best place for business-to-business networking. Keep these short (no more than 250 words), to the point, and aimed at your audience.

Comment on and share the content of others

To get LinkedIn (or any other social media) to work to your advantage, you must be social, which means to comment on and share the posts of other people (likes do almost nothing). Comment on and share at least a dozen posts every day and remember to be part of conversations (comment on comments). By doing this, you play the social media game – you prove that you are engaging with others.

Seek out and accept speaking engagements

There are many podcasts (and even live events) looking for experts to interview. You can find several related to your career with a quick Google search. If you can’t find any that are suitable, you can also start your own. It’s as simple as doing and recording an interview on Zoom, then posting the audio file on a podcasting platform such as Podbean or Anchor. Don’t feel comfortable speaking in front of people? Visit your local Toastmasters and receive excellent public speaking training.

Get more training

UDEMY and other online training platforms offer inexpensive courses on a huge variety of subjects. You can use these courses to help with weaknesses you listed on your SWOT analysis or to help you in any areas you need to strengthen.

Write a book

Writing a book is the ultimate step needed to set you up for long-term success. A book is a marketing tool, which you can use to build your network, get speaking engagements, impress potential clients and employers, and enhance your career opportunities. A ghostwriter or book coach can help. Contact me if you want to learn more.

Conclusions

By following these 10 steps, you’ll be taking control of your destiny and opening up new opportunities for employment and freelancing. This control can have a huge impact on improving your self-esteem, reducing anxiety, and overcoming depression because you will be actively doing something about the situation.

Please contact me if you need any help in any of these areas.

[top]
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x