Is having a plan B for generating income important?

Discussion in 'General Advice' started by FreeCashMan, Mar 22, 2010.

  1. FreeCashMan

    FreeCashMan Well-Known Member

    With all the financial challenges that people are having as a result of 10% plus unemployment in the U.S., is it more important than ever for people to realize that they must not look to corporate america to rescue them from dire financial challenges?

    I know many people will just sit around and hope and pray that a layoff doesn't occur for them, but seeing this happen to several family members, I can just tell you that, it is not wise to wait for tragedy to strike before going about doing something to generate your own income stream from your own home business.

    Dear "I need a plan 'b'" person, believe that you can achieve success working from home. Just don't look for instant gratification. Plug into something, get training and support and let greatness evolve. But whatever you do, don't sit back and let time and technology find you without some sort of cash flow because you were hoping that your Plan "A" corporate job would last a life-time. We all know better than this by now. We just need to act on the reality of the situation and times, and move forward.

    Just a few weeks ago it hit me that one can't even get a job as a parking attendant counting the money as people leave, because technology has machines counting our money and checking us out.

    Get your plan "B" and Be secure in yourself.
  2. dougster77

    dougster77 New Member

    Beautifully said and true. People need to take action BEFORE their financial problems develop.
  3. weebitty

    weebitty Member

    Yes they do and also don't depend on Social Security to be there for you either. I don't see that lasting much longer and besides it wasn't meant to live on anyway. [​IMG] I am not waiting for me or my girls who arn't near retirement yet but I want to know when I leave this world they are self suffient. So I am working on them to get them out of the mindset of corporate or social security being there for them. One of my daughters just got laid off from her job. So the lights are going on for them. That is my one fear is they won't know how to take care of themselves after we are gone. Teach yourself and your family to do something and then save that money for the future. Watch how you invest it as well. Stocks well you saw what happened there. Real Estate the same thing. So right now probably cash is king. We don't know what the future holds for us so stick with what you know start building a business and taking it seriously!!! Don't look for quick instant riches there arn't any!! If you are doing a business now really get serious about building it and helping your people to do the same. It is the greatest gift you can give them [​IMG]
  4. lmiller14

    lmiller14 New Member

    Definitely have a plan B!!!
    When I started my online biz, I made sure I was exceeding my corporate income for at least 6 months before I quit~!

    - Good luck!

    - Lark
  5. bosco

    bosco New Member

    No doubt, Free Cash Man; no doubt.

    Everything we are doing (the govt) is wrong.

    Ron Paul has it right. He was almost the lone voice against the original bailout when Bush was still the White House resident.

    Obama has simply done more of the same and it's the opposite of what we need. But the repugnantcans would be doing the same or worse.

    The way we have let jobs leave the county for decades is frightening.

    We have no tarrifs to help level the trade playing field.

    Clinton was no better. Nafa, Gatt, repealing glass steagal.

    It's a con they demoncrats play with the repugnants. they are the same ruling globalist party and they make us believe they are
    at odds with each other.

    Plus, the votes aren't even counted. When the powers that be want someone in, they just install them when they don't have the votes.

    Amazing book, Votescam, about 1972 election and the 20 years of research after that proving voting is a dog and pony show.

    Yep, don't expect the govt to help you.
  6. weebitty

    weebitty Member

    Bosco I couldn't have said it better. I say a bumper sticker and have seen it in the past but it is true. It says I love my country but it is the government I am afraid of. I talked to the woman about where she got it. She said she got it from the military surplus store. She was going to go back and get somemore and hand them out. I told her to save one for me!
  7. yasser

    yasser New Member

    sure. always look for different income streams.sell on ebay, do some affiliate marketing, mlm, ...etc[​IMG]
  8. A8ch

    A8ch Gold Member

    You make a great point, Free Cash Man! That old saying: "Don't put all your eggs in one basket," is truer today than ever before.

    In order to navigate the uncertain economic waters and avoid financial turmoil we must put more stock in ourselves, our experience, our skills, our creativity, and take the initiative to increase our earning options beyond the traditional job.

    Becoming more self-reliant and less dependent is the true path to "job security" these days.

  9. WhoIsBenjamin

    WhoIsBenjamin New Member

    FreeCashMan: many people will just sit around and hope and pray that a layoff doesn't occur for them, but seeing this happen to several family members, I can just tell you that, it is not wise to wait for tragedy to strike before going about doing something to generate your own income stream from your own home business.
    Unfortuantly, for most people it will have to come down to
    just that. Personally, before I was fired from my last job, I
    was already working hard on my business...and making
    decent money to keep moving forward despite the economy.

    Business has been much better since than [​IMG]
  10. FreeCashMan

    FreeCashMan Well-Known Member

    I just saw where another old college friend got laid off. Not sure why people think that it may not happen to them, or that it would not be wise to not wait for tragedy to occur before implementing doing something for yourself.
  11. MarketLifelines

    MarketLifelines New Member

    I couldn't have said it better. In these uncertain times, it pays to be very prepared. Once you lose your job, you may have to wait for months on end for the next available gig.

    Plan B and sometimes C are now as important as never before. The internet is a good place for refuge because there are many opportunities and starting out is not so difficult.

    Even during happier times it helps to have a side job to boost income. Sitting pretty is burying the head in the sand.

    With a little extra income, those who absolutely have no time can invest on existing internet businesses. Those with time can build their own businesses or help build other people's businesses. The net effect is to provide a cushion for a softer landing when it comes.
  12. Shawn S

    Shawn S New Member

    MarketLifelinesAgree on the "maybe C" plan, too or at least to have multiple legs to any plan A you have.

    Think of all the people who relied on Adwords as their sole source of traffic and income who recently got banned and lost all of their income.
  13. ryanbiddulph

    ryanbiddulph New Member

    Forget having a Plan B. Rely 100% on yourself for your financial security!

    I used rely on others for my take - ie having a job - until I figured out that I was at the mercy of my employer. I ultimately was downsized in what was the best moment of my life. God forced me to do what I was always meant to do. I was excited to become an entrepreneur but very uncomfortable with the prospect of being fully responsible for my salary. It was much easier to let someone else give money to me. It's been rough at times but I wouldn't have it any other way.

    Make being an entrepreneur Plan A and proceed to open up multiple streams of income. Focus on mastering one income stream while slowly bringing a few others into the fold. This is how wealthy people do it. When you become creative enough with your marketing and content creation this plan is recession proof.
  14. robbiesue01

    robbiesue01 New Member



    I absolutely agree! In early January of this year, I watched in shock as the HR Manger at my company, placed a card board box one by one, on the desks of ten of my co-workers. Everyone in the building knew what that box meant. You no longer had a job.

    It was the second time I witnesses this horror. But, I had been spared the loss of my job, this time. I realized that come next January, I could look up from my computer to find a box on my desk, placing my personal belongings into it, and quietly being escorted out of the building.

    At that moment, I realized what I really needed was a "Plan B." It took me a few months...but I found "Plan B!" To all those looking for your "Plan B," I pray will all my heart that it will find you.

    [Link removed - Admin]
  15. FreeCashMan

    FreeCashMan Well-Known Member

    A card board box as notice that you've got to go, that is cold. Those type of tactics lead to violence in the work place.

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