top of page

Business Ideas for When You Face an Employment Downturn

Updated: May 18, 2023

Like many people, you may have found your employment situation took a drastic turn down recently. With disruptions in the marketplace due to the years-long and worldwide pandemic, many companies were forced to downsize or go out of business altogether. This means you could have lost your job or had your hours decreased drastically.


In any case, you need to find work you can depend on, and that could mean becoming your own boss. This can take the form of part-time gig work or creating a full-fledged business all your own. Many of the same steps can apply to both, so Ambitious WE lays them out here to help you find ways to get back to work.



Freelancing Your Tech Knowledge


If you have a particular skill or talent, such as graphic design or web building, Hostinger notes that you can offer your services online with platforms like Upwork, Freelancer, or Fiverr. You can reach out to clients directly on those platforms and make an offer on your services, and clients can find you, too. This can be a great way to make money on the side or to even start a business of your own.

And if you need to update your IT-related certifications, you can take online courses that lead to compTIA A+ certification with industry certification exams to make yourself more marketable. If you're interested in pursuing a career in IT, earning a degree along with a certification will give you more opportunities and skills. Many IT professionals have these certifications that demonstrate you have mastery of basic skills needed for most IT jobs.


Teaching


If you’re an expert on a particular subject, you can offer tutoring or teaching services. Most people today expect to take lessons online through video-conferencing, and that means you can see multiple clients on the same day since you never have to leave your home. And your clients can be anywhere in the US.


Or, if your expertise is in something like music or art, then traveling to someone’s home for in-person instruction is another great way to use your talent to earn an income.


Food Delivery

You can always rely on services like Door Dash or Uber Eats, but why not take it to another level and prepare the food yourself? If you enjoy cooking, WebstaurantStore points out that you can start your own meal prep business. Prepare make-ahead meals, freeze them, and bring them to your clients ready to bake and eat. Or you can deliver them fresh, putting all the fresh ingredients together in a dish for them to bake themselves.


Those are just a few business ideas you can consider, but there are many other opportunities you can turn into a great side gig or full-time business. Just assess your skills and talent, decide what you enjoy doing, and let your imagination do the rest.


Marketing Yourself


Think of a name for your business. Even if it’s a side gig, it needs a name. It should be unique but easy to remember, spell, and say. Then, think of your brand. What do you want people to associate your business with? If it’s food delivery, will you be creating organic dishes or fast-and-easy meals? If you’re going the IT route, will you be specializing in helping established businesses or the newbie business owner? Your brand should let people instantly recognize your mission.


Use free marketing like social media. Thousands of people in your area alone log onto their social media sites every day, so take advantage of that free platform. With social media marketing, you’re also able to engage with your customers by getting feedback from them while getting your message out.


Nothing works better for marketing than to introduce yourself and create trust with in-person networking. People just prefer to do business with some they met face-to-face. That’s why it’s so important to carry business cards with you everywhere you go.



Choose Your Business Structure


Whether you’re creating a full-time or side business, you’ll need to structure it, and the most popular form is an LLC. With a limited liability structure, your personal finances, such as your home, car, and savings, are protected in case your business suffers a financial loss. LLCs also have tax advantages and require less paperwork. LLCs are a type of business structure you can create yourself, too, without having to hire an attorney.

There are plenty of ways to make some income for yourself during employment downturns, whether it’s as a side gig creating web designs or a full-time business preparing and delivering meals. Thanks to free marketing with social media and a host of online tools and resources like online education, there’s no limit to what you can earn if you commit to it.

Ambitious WE is your coaching resource for creating a plan, finding your confidence, knowing your value, and owning your time. Contact us today to learn more! +1 (850) 601-8660





17 views0 comments

Comments


bottom of page