How to make money when your broke
How to make money when your broke
The global pandemic has taken its toll on every aspect of our lives. If you have a business or were an employee, you quite possibly have been affected by everything going on. Lockdown mandates from city and states did very little to help people struggling financially. Small businesses have taken the biggest hit with some states still putting a stranglehold on restaurants as we are approaching June 2021. We were told 3 weeks to flatten the curve that has now lasted 18 months wow. So, what can you do to make money with everything going on? In this post, we will examine what are your best options. We will explore the pros and cons of working post-pandemic. We will deep dive into what will drive economies going forward. Finally, we will attempt to give you a comprehensive guide on how to make money when you are broke.
One in five small business owners does not believe they will make it by the end of 2021. Over 140,000 businesses have temporarily closed of that figure over 65,000 small businesses went under. This is a disturbing trend as small businesses employ 58.9 million in the US. With almost half of the US workforce, 47.5% of small businesses in the US are in big trouble. The restrictions have all but dissolved this very crucial segment of the US economy. Small businesses create a staggering 1.5 million new jobs annually and account for 64% of new jobs created in the United States. A solution may come from people who are not aligned in any political or social standings. The current climate does not seem to want to stop the job losses. Then there is the unemployment conundrum, paying people to stay at home. While this blog is not about politics per se, politics seem to drip onto everything we do these days. Just like choosing a side or something no more being neutral. Many things are for or against one position or the other. So, the biggest help small businesses may get will be in a politically neutral environment. Focusing on getting people to work and getting small businesses the help, they need by giving low-interest rates high-quality interest loans with flexible terms.
So, the outlook for small businesses looks bleak at the present moment with so many jobs being shuttered and left for dead. Some states like Florida and Texas have listened to their constituents and the science, and they have concluded that a full reopening is what is best for the state. Also, in a strange position change, the White House and the medical community are now saying that enough people have got sufficient vaccinations that the face masks can come off for these people. This blog will only focus on the changing mandates as they affect businesses. Texas plans to be fully open as long as cases remain less than 15% of hospital bed capacity in any region. The state of Texas is home to 2.7 million small businesses, which employ 4.7 million people. This is 45.1% of Texas's private sector workforce, last year the state grew at a rate of 3.2% outpacing the nation. These figures as well as a full reopening of the state look very promising for job seekers. The Governor also halted unemployment so Texans could begin the road to recovery and start working again.
What are your best options for work after the initial phase of the pandemic? In the US only 4.3 million people work remotely. Some 44% of US employers do not allow remote work at all. With the shift to the new normal ow boy, we find that many people may never be comfortable working in crowded environments. So, coupled with the federal government handing out money to keep people home the situation shifts to who pays the bill. If small businesses employ roughly half of the US working class how will the US economy survive with record small business closures? Places such as Texas may not feel the brunt of the economic downturn as other states do. With many states still not entirely clear as to what their path will be going forward as well as hyperinflation ready to take hold things are about to get a little crusty. The best solution is to either get trained to do a job you like or to start your own job or side hustle.
The work-from-home niche seems to have gotten a bad reputation because it has been hyped and many think it is a way to get rich quick. This could be no further from the truth of a thing, for many solopreneurs fast money simply isn't a reality. First of all, you need to see your endeavors as a business and treat it that way. There are many ways to make money using the internet that is actually shocking. However, you need to get back to the basics no matter what you choose to do and learn the techniques that are working in the field you are in. With work-from-home jobs, it's good to know what is trending and what's got people talking and work to build your business to cater to that crowd. More than likely you already interact with some kind of social media, you can use social media to let people know "hey I have a business doing this or that". You want to build a great business relationship with people who follow you. You will need to optimize everything you do so people don't get bored and always ask questions. If Joe from down the street can do it so, can you. Did you realize the average e-commerce website generates about $150,000 per month? It's interesting I have been trying to get people to try these new and exciting job opportunities, but people are hesitant. That's ok because only the people who take action will do well anyway. But tell me this how do you walk away from 150,000 per month after you scale a business up. All from the comforts of your home, yep, your little apartment could be running a million-dollar business.
So, what does it take to make money if you are broke? You will need to make two lists. On the first list put down things that you enjoy doing. On the second list put things that you would like to have. Look at these lists then think about how I can do what I like to do and how can I make money from it. And finally, how can I get the things I want from all of this. What you just did was set a goal, that was easy, wasn't it? To get from where you are to where you want to be you need to be constantly setting goals. If you were out of shape but your desire was to run a 5-minute mile, how would you do it? Again, write down everything then study it. This will form a habit; this habit will help you set goals. You may not be able to run that 5-minute mile at first but as you keep setting goals it can happen. The first goal is to stretch and then warm up. The next goal is to jog, then to quicken your pace. After you have done this for a few weeks you improve your flexibility and stamina then you try to run a 5-minute mile. This is the same mental thought process it would take you to start your own business and scale it to 6 figures.
In this blog, we attempted to shed some light on the actual world that we are left to deal with. I hope we answered any questions you may have had about how to make money when you're broke. The reality is that only one person can determine what your future will hold. Do you know who that is? guess...lol. I heard this line in a famous movie goes a little something like this " I can show you the door, but you have to go through it" Morpheus talking to Neo. Matrix-1999.
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