A record 30 million Americans signed up for unemployment benefits as of 05/2/2020 according to a Business Insider article. The previous record was 695,000 in 1982.
This crisis is already creating a larger financial fallout than any other in living memory which is a super scary concept. Many people are realizing how fragile their finances were and how dependent they really are on their employer for all of their income and benefits.
I believe this is going to be a wake-up call for people. The nation, or world maybe, will realize that personal finance needs to become a more important topic in our lives. Hopefully, they will see we need better education for ourselves and our children on how to manage money.
In the same line of thinking, it should be equally important to start thinking about diversifying our own sources of income.
Multiple studies and sources (Chris Hogan, INC.com, College Investor) have identified that the majority of Millionaires have multiple streams of income, with the average number at 3-7 income sources! Some are through paper investments such as stocks, or returns on investing in real estate, but there are countless examples of income streams from side businesses.
How can The Simple StartUp help?
The Simple StartUp is the guidebook that helps people to learn how to create their own businesses and their own sources of income.
Some of the biggest barriers for individuals when it comes to starting their own business are myths such as:
- “I don’t have the money to start a business”
- “I don’t have time to run a business”
- “I don’t have any skills to run a business”
- “Salespeople are slimy jerks. I’m not like that!”
- “I don’t know where to start.”
The Simple StartUp will help to break down all of those barriers and show these budding entrepreneurs that there are ideas all around them, in all shapes and sizes.
As you go through the workbook, the exercises will help to lift the shroud of mystery that covers entrepreneurship, and expose how easy this can be for anyone to do. By starting small and simple, people will be able to build businesses that they are excited about and which bring value to their lives, and hopefully the lives of their customers too.
From there, it becomes easier and easier to add, build, replace, and grow businesses to continually decrease the dependency on a salaried job for the income to meet all of our basic needs.
This brings freedom!
Knowing that your job can disappear tomorrow, but you have created enough of your own income to sustain you and your family through tough times, takes a huge weight off your shoulders when times get tough.
Will I be immune to the financial pitfalls of unexpected events such as Covid-19?
Sadly, small businesses are no more immune to the effects of pandemics such as our current one.
BUT one thing they have which the average employee does not is the ability to pivot, focus, and find another way to bring value to customers.
By learning the skills in The Simple StartUp, you will learn to approach problems as opportunities instead of barriers. You will start to ask, how can I adjust to meet the needs of people in today’s world when it’s very different from yesterday’s.
You won’t just take a job loss as a sentence to be stressed and miserable, but instead will look for ways to use this newfound time to generate income while providing a valuable solution to your community or the world.
Please don’t let the current times be an excuse to not start a business. Rather, this is the reason you’ve been waiting for. So get started today and start building your own sources of income!
Don’t forget to share your stories at www.thesimplestartup.com/stories