By Leroy Ferrao
The year 2021 is expected to be the most challenging year in our life. Those who have survived the pandemic and its consequences in 2020 must now brace themselves for another uncertain year.
How can you thrive during the 2021 recession? I present five steps that you must master for any challenges in 2021.
#1.START SELLING IN 2021
1. Create a product or service
The marketing world traps us into buying. Why? They want our hard-earned money. When you buy, there is a transfer of wealth from the buyer to the seller. No wonder the rich keep getting richer as they sell more products or services than they buy. The poor get poorer as they buy more than they sell or are consumers. It is a sellers world. In 2021, if you can start selling any product or service that solves peoples problems, then you will have shifted to the seller’s world. You will not only keep your hard-earned money but will start accumulating cash reserves like the top companies of the world do and re-invest it in new opportunities that can build even more cash flows for you. Remember cash and cash flows are kings today.
2. Selling skills acquired translate to other parts of life.
Selling is one of those fundamental skills, and as with everything the more you do it, the better you become at it. When you set your goal to sell something you have to figure out what to sell, who to sell to, how to communicate with the potential buyer and figure out how to deliver and close the deal. You can use the selling skills learned to other parts of your life, which is why practising selling is one of the best investments that you can make it yourself and prepare yourself for the challenges in 2021
#2. OPTIMIZE YOUR ENVIRONMENT IN 2021
Optimizing your environment has two clear benefits.
1. Time management.
You are no longer wasting time figuring out where all of your stuff is or what you are supposed to do next.
2.Increasing efficiency in well-organized spaces allows you to get more done quickly, even if you do not follow a minimalist approach to life which I recommend.
The idea of having things organized is something most youths are struggling with, and some people never can shake it off their entire life. They live in a constant environment dominated by chaos. Happiness and success come as a result of you putting an order in the chaos of the world.
You can begin by optimizing your immediate environment and then expand outward. For example, get rid of the TV in your home or unsubscribe the online streaming services that rob you of your time and money. More time now is available in your environment, and you can use it to focus on becoming the best version of yourself by investing your time and money to accomplish your goals in life. When I cut off the TV from my life seven years ago, I witnessed a substantial transformation in my life by optimizing my environment.
#3. START TEACHING IN 2021
1.Teach online or offline
Teach something to others if you want to master something in 2021. Learning should be about understanding. When you are teaching someone anything, it forces you to make sure you have a good enough handle on the topic at hand. Sharing knowledge with others is beneficial for yourself because and in the process, you are getting a lot of value yourself because the information that you are teaching gets cemented into your brain.
2. Create online courses
What can you teach? Anything you have been doing well over the years. For example, if you were working as a programmer, you can start teaching it. Or if you know how to repair electronic devices, you can teach it online or offline to keen students. Go to Udemy, and you will find a course on anything you want to learn even on how to be a dog walker. After teaching it, you can create an online course and upload it on your website or a learning management system or platforms like Udemy or SKILLSHARE and start earning cash flows indefinitely. Start teaching in 2021 and become the best version of yourself. Thus, you will be in a better position to handle the challenges of 2021.
#4. BUILD A SEPARATE INCOME THAT IS NOT DEPENDENT ON YOU IN 2021
1.Generate passive income.
Here is the truth, you will never be able to handle the financial challenges in 2021 unless you have multiple income streams. You can make some money from your job or business in exchange for your time. However, if you are not working because of any circumstances in your life, it is how much money you will require each month to pay for your bills to survive that matters.
2. Make money work for you.
The oldest advice in the book is not to work for money but let money work for you. The moment you can generate a second income stream that is independent of you, your life changes. It might not be a lot; the important thing is that it is not dependent on you to bring in more income. Otherwise, you just got yourself another job. Here are the books I strongly recommend on this topic, The Four-Hour Work Week, The $100 Startup and The Parable of The Pipeline.
#5.BECOME AN ENTREPRENEUR IN 2021.
You have to remember that this concept of a job and working for big companies are a very recent phenomenon that happened in the past 100 years.
Centuries ago, everyone was an entrepreneur, and there was no concept of a big companies or organizations giving jobs to thousands of people.
End of the day, people want products and services to enrich themselves and live a good life. Entrepreneurs can only make products or services.
But if you are ready to create products and services of value, the market will pay for you. The market will always pay for what it wants.
A nation’s wealth goes up when more entrepreneurs come into the arena of the economy. The entire nation’s wealth will go up as values for products or services are exchanged for cash or kind. Money does not make a country wealthy. Products and services of value do.
And creating a product or service that is profitable for investors, team members, and customers can only be done by entrepreneurs.
Start entrepreneurship
If you want to do a service to yourself, decide to start a business. Become an entrepreneur. I am not against working in a job. I recommend working in a job. However, we are losing our jobs and experts predict that only one-third of the population of the world will have employment in the future. If your current circumstances permit, you can start a side hustle when working for a job and with the support of your family take it forward. Do not quit your job. That is my advice from experience. Only prepare for a job loss as robots and algorithms replace employees at an unprecedented rate, as it is cheaper to engage robots than humans, besides robots can work 24/7. Prepare for 2021 so that the transition is smooth and you keep sailing during the storms of life.
In conclusion,
2020 was the year of the unknowns and extreme challenges. 2021 is going to be an even challenging year as we head into the recession.
However, those who prepare for the worst case scenario in 2021 are going to make it to the other side and resilient as we brace ourselves for uncertain times in the future.
To summarize, the key to remain resilient in 2021 as we head into recession is…
- Start selling — Create products or services and start selling them to generate cash flows..
- Optimize your environment – Time management and creating well organised spaces to more done quickly will optimize your environment to be productive and a high achiever.
- Start teaching – Start online or offline teaching in any skill you are an expert. Create an online course and upload it on your website or learning management systems to generate cash flows indefinitely.
- Build a separate income that is not dependent on you – Multiple streams of incomes that includes income independent of you can help you in case you are not able to work in a job or business due to adverse circumstances and pay your bills during the recession.
- Become an entrepreneur – Experts predict that only one-third of the population of the world will have employment in the future. Start a side hustle and prepare to transition as an entrepreneur if you face a job loss in 2021.
Recessions are here to stay and may even progress into a depression. Well you cannot control recessions, what we can control is our response to remain resilient during these tough times.
What are some more ideas that can help us be better prepared for the recession in 2021? Share your thoughts in the comments.
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