SfW wants to know…. What are you doing to recession-proof your income?
(1 votes, average: 5 out of 5)November 14, 2008 by Erin Casey
SUCCESS for Women is committed to bringing you solutions for whole-life success. And though we know money doesn’t equal success, as Zig Ziglar says, “Money is not the most important thing in life, but it comes reasonably close to oxygen.” You’ve got to have it to pay the bills, keep your business running… eat.
In Stepping into the Boss’s Shoes and Take the Entrepreneurial Plunge, women business owners, some of whom were once employees, share their success tips. They found personal and financial freedom in controlling their career path. And in Let a “Crisis” Become Your Catalyst for Success, Dan Miller offers suggestions for those who may be facing unexpected career transitions.
But let’s be real: Losing a job can easily throw your financial life into a tailspin, and a reduction in consumer spending can seriously impact your business’s bottom line. As a forward-thinking woman the best option is to recognize the risks and make a plan for success. So we want to know, what are you doing to recession-proof your income?
Here are a few tips from business and financial experts:
Build a cushion. In Smart Money Tips, Jean Chatzky makes the point that a financial cushion can make a world of difference. And while many experts suggest stashing three to six months of living expenses, she points out, “You just need to have enough to float the necessities: the mortgage or rent, utilities, car payment, food.”
Brush up on your presentation skills. Whether you’re vying for a promotion, seeking an investor for a new business venture or making calls on potential clients, sales trainer Terri Sjodin has a few tips to help you persuade your audience:
- Determine what you want to make happen. Whatever the challenge before you, establish your goal and deliver a presentation to that end.
- Skip the boring analysis and get creative, tell a story, be funny.
- Make sure to close rather than conclude. A solid close clearly conveys the action you want your audience to take.
- Set aside time for self- and peer-evaluation. Record yourself in action and ask a trusted colleague for feedback.
Turn your passion into profit. Career and life coach Valorie Burton passes on a bit of wisdom she received from one of her mentors: Do what you love and the rewards will come. Read 5 Questions to Help You Turn Your Passion into Profit to discover how to build a personally and financially rewarding career.
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At Jjanusz Custom Jewelry Design we are only buying what we absolutely need and making sure that we do not charge anything that can not be paid for when the bill comes in! We are increasing our online networking as well as our physical networking - we are very active in our local chamber of commerce. We are also reaching out to more charities. We find that the more we donate to worthy causes, the more our business increases. There is nothing like good word of mouth to help your business.