These suggestions are controversial and you probably won’t agree with all of them. They’re based on my own experience of living through many business cycles in my lifetime plus what I learned from experts I respect.
First, turn off the news. I sometimes read national papers, like the New York Times and Wall Street Journal. But television and daily news headlines can be deadly.
Journalists are wonderful people but they need startling headlines. They work on a case basis, highlighting extreme experiences. What’s happening “out there” may not make any difference to you. I talk to people every day who are changing jobs, getting raises and moving up with promotions.”
(2) Grow your network of positive, successful people.
This one action alone can get you on the right track. You get ideas and connections that will move you to your goals. You get inspiration to develop new goals.
Sadly, you may have to bite the bullet and release negative people from your life. Don’t be too quick to drop someone who’s having a bad day. But every time I’ve moved away from one negative source, two positive people arrive unexpectedly.
(3) Create a second stream of income before you need one.
“Karla” needs more money. She wants to enjoy life and buy a lot more, but she realizes she can’t get a raise at work.
Since Karla is still working, she cannot violate her employer’s rules on second jobs. More important, she needs to think outside the box. One city government official works in accounting and runs a lawn care business on weekends. He loves it. He gets out in the fresh air. He gets to be physical rather than cerebral. And his target market wants his services on weekends, when he has no obligations to his employer.
You might also consider developing online income. One very affordable resource is an ebook called 20 Ways to Make $100 A Day Online. This is not a “Get Rich Quick” scheme. You have to invest some time and energy. Chances are you can use or modify at least a couple of ideas to fit your own preferences and skills.
Finally, I’ve been giving the same advice in any economy. While you are still working and secure, create your Plan B. Even in a high-performing environment, we are all vulnerable. After all, you might wake up one day and realize your job or your business is making you sick. This situation is extremely rare and I never advise anyone to quit a job without another one waiting. But it could happen.
Your Plan B includes provision for health insurance, alternative income sources and a clear idea of how you will support yourself for the next six months to two years. It’s scary to put all these components together when you’re under the gun. So if your job feels comfortable or you’ve just started a job, make creating a Plan B your first priority.