Why the Timing Is Perfect for a
Spare-Time Business

In an economic downturn, your confidence in owning a successful spare-time business can weaken.

It’s understandable. You’re contending with financial uncertainty.

And that makes it easier than ever to put off new projects like building your website or learning a new skill that could help grow your business.

You may be afraid to spend any money. Or you may feel like your time spent would be wasted right now in this market.

But in all reality, there could never be a better time to go after your dreams of financial security and freedom.

As counterintuitive as it may seem, an economic downturn is actually the perfect time to launch or grow a spare-time business.

  1. Your income might be suffering if you’ve had to take a pay cut, or didn’t get that increase you were hoping for this year. A spare-time career can replace what you’re missing … and then some!

  2. You may feel a little uncertain about your financial security. Everyday I’m reading stories in the news about how people are cutting back. A spare-time career can restore your security by giving you more avenues for income. It feels good knowing that way you won’t need to rely on your j-o-b or your 401K for retirement.

  3. When businesses have to make layoffs, it creates a void in the company. They turn to freelancers to fill those voids, so finding new clients for your spare-time business is easier than ever right now. And if you’re starting a resume-writing business, layoffs increase the demand for your services, too.

  4. A spare-time career isn’t like most business ventures. You don’t need a lot of money to get started. All it takes is time and effort. I like to refer to it as “sweat equity.” And right now, you can turn your sweat equity into better financial security and more freedom.

  5. You’ve heard the old adage about eggs and baskets. Well, when you’re a full-time employee working for someone else, your eggs are in a single basket: your employer’s. Yet your job can disappear with the stroke of a pen, just like it did for a lot of people this past year.

With a spare-time business, you’re in a much better position if you lose your job. You’ll already have some replacement income coming in, and it will make the transition easier for you and your family.

Cash in on Your Fears …

Starting a new business or taking the step toward growing your current one – even if it’s a spare-time business – is exciting and scary at the same time. And when something seems scary, it can be tempting to wait until the timing is “perfect.”

In fact, you may even look for reasons to wait.

But I can guarantee you that there will always be a reason NOT to get started. If you search hard enough, you’re sure to find one.

And that leads me to a valuable lesson I’ve learned in life …

When something is scary, it usually means it’s worth it.

Think about all of the greatest moments in your life.

Maybe it was meeting your spouse or the love of your life. Maybe taking a leap to try a new career. Or making the decision to buy your first home. Going to college.

If you really give it some thought, I’d bet you can think of quite a few moments in your life that were scary, but in the end were more rewarding than you ever imagined.

So instead of trying to find a reason not to get started, I’d like you to shift your focus to all the reasons TO get started. You won’t have to look hard to find them …

More freedom to travel. Better financial security. Doing something you really enjoy. Increased buying power.

The list is as long as you want to make it.

So my challenge to you is this:

If you’ve already started your spare-time business, do something this week that will take it to the next level. Try a new technique to get more clients … build your website … learn a new writing skill … anything that will help grow your business’s revenue.

If you’ve been putting off getting started with your spare-time business, I want you to take a step forward this week toward doing just that.

There has never been a better time than right now to start making things happen for you. Don’t put it off any longer.

And whether you already have a business or are looking for one, I highly recommend you consider adding an information website as another revenue stream.

What I love about this spare-time opportunity is that you can really get it going in about 5-7 hours a week, and make $750 to $5,000 or more a month in passive income. It’s one opportunity that everyone should be doing.

I’ve already started working on mine!

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Published: April 21, 2009

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