Feeling Secure in an Insecure Ecomony

Filed in archive business tips on October 6, 2008

Photo courtesy of iStockphoto, christine balderas
The gloomy economic forecast has most of us worried. If you're self employed you may be feeling especially uneasy. Unlike traditional employees, we can't head to the unemployment office if we find ourselves out of work. Fortunately for us, we may actually have more security than traditional employees. When companies run into financial slowdowns, one of the first things they do is layoff existing staff. However, that doesn't mean they still don't need the services those employees provided. Since businesses don't have to pay contractors benefits such as health insurance, paid time off, and they avoid the hassles of withholding taxes,we freelancers and home business owners save them a lot of money! That doesn't mean you can rest on your laurels though. Continue marketing regularly and search out new clients and opportunities every day. Never keep all your eggs in one basket. The more streams of income you have the better!

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Tags: home based business home office self employment economic crisis work at home work from home telecomm

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Response from: Gopal (10/11/08 1:57am)

Multiple Income Streams, specifically Residual Income is the key. If your business offers services people use regardless of the economic climate you will be recession/depression proof. Being your own boss takes a lot of courage and requires hard work and sacrifice but the advantages (tax and personal) are excellent. There is no better incentive to work, than to work for yourself. I am truly amazed more don't do it. They are willing to work like animals for someone else but when they get the chance to work for themselves they're either too lazy or come up with a multitude of reasons not to take the ''risk''. Granted, working as an hourly wage or salaried employee offers money up front, but job security is becoming a thing of the past. The last few weeks disastrous events on Wall Street should make it painfully clear that nothing is guaranteed and now is the perfect time for people to open their minds to working from home and becoming self-sufficient. Success, G.

www.boom.thevfusiongroup.biz

Response from: Jeremy (10/12/08 7:04pm)

Good post. One of the benefits of being self-employed is that you can adapt your hours of operation and the services offered a lot quicker than a large company can.

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