A few months ago, my job laid off about half of its employees. I thank God I wasn’t in that number but you never know when that job will let you go. My job is a great job, but AI is here and it can potentially take my job. I heard someone say if you can work from home AI can do it..I don’t know how true that is but we have to stay ready for anything, and no job is stable. So what are you supposed to do? Have a side hustle as a safety net. I know I know everyone can’t be a business owner but you can still make money with a lucrative hobby.
Having multiple streams of income is about having a backup plan and options. Do you know if you get fired today, how long it takes for that unemployment check to kick in? Back in the days, years ago, it was about 6 weeks. I can’t imagine how long it takes today.
Why I will always have a backup plan.
I have been poor and I don’t trust anyone. Y’all can trust folks and jobs and even your boo but I don’t. A backup plan isn’t to say God doesn’t have me, it’s just to say God gives me talent that I can use, he wakes me up daily, and we have this internet, we have to find a way or make one. (CAU taught me that)
I’m a photographer on the side, and I own a t-shirt company. If my job lays me off tomorrow, I can rely on those two things to make some type of income while I wait for the next door to open.
Building a side hustle doesn’t have to be a full-time business. You can take it slow….
I only take a certain number of clients a month, you can sell a product during your favorite holiday, a class you can teach to others, you can even start a whole new business with your hobby as a base. For example, I’m a family photographer, but I’m not afraid to get out there and offer brand photoshoots for influencers or do food photography for restaurants.
Overall, do not panic. Plan.
Dust off your resume and update it (yearly and hire someone who doesn’t do AI so you can stand out)
Network at least twice a month. Join something so you can make connections. I have never gotten any of my jobs by applying it’s always been by word of mouth.
Don’t buy anything you don’t need. Save every penny that you can. No one over 35 should have no less than 1k in their savings account. If you are over that and don’t then you need to make some hard choices.
Keep your skills current. Need to take another class? Do it now while you still have a job that can pay for it.
Be open to relocating to a new spot if you can. Atlanta is where I live, but if they offer me a high paying job in Charlotte….peace out. I’ll work out logistics with my kids later.
Any other advice you can give?
