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Making Money in a Bad Economy

September 4, 2009 by Ronald A. Rowe

microphoneWhat to do when there’s nothing else to do? That is the question facing many unemployed workers right now.  Whether ’tis nobler to continue plugging away seeking traditional job opportunities or to move beyond the norm and look for more out of the box money making opportunities?  It’s risk versus reward on a very personal scale.

A friend of mine, we’ll call him “Chris”, has been unemployed for 8 months.  Unemployment benefits are running out, and he’s reaching the end of his options.  He’s a smart guy with a lot of experience, but that just isn’t enough to land a job in a market of 10%+ unemployment and more layoffs every month.  One of Chris’ best attributes is a sharp sense of humor, so Chris is going to do something unusual: he’s going to try to make a living as a stand-up comic.

He’s got potential, I think.  I really don’t know how stand-up comics get started.  I doubt that they can quit their day jobs right away, but since Chris doesn’t have a day job… well, maybe that’s an advantage.

Not everybody is testing their chops in front of nightclub crowds.  Some are trying freelance computer repair, consulting, writing… whatever they can to try to get by.  And for a few, it is working.

There are a lot of part time, freelance opportunities depending on your skill set and location.  Some skills lend themselves to freelancing, others don’t.  A computer technician is more likely to strike out on his own than, say, an economist.  Both are fine skills and good professions, but one can operate out of the spare bedroom on a shoestring budget with word of mouth advertising and the other can’t.

So, while the rich will get richer through this drought by following a ‘buy and hold’ strategy, those of us who can’t afford to buy now and wait for a payday will have to try our hands at whatever we can find to do using whatever we’ve got.  One liners and comedic timing are optional.

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