It’s easy to feel a bit glum with all the financial news. People are worried about their futures. They’re unsure where to put what little money they have left. Everyone is wondering what comes next.
Clearly, I have no better ideas than you on that, but I do have some thoughts on what you can do to prepare for the news ahead. These tactics all fall into the bucket of “if apples all start falling off the tree, at least try to be the shiniest, best-placed, easy to pick up apple out there” school of thought.
With that said, here are some thoughts for you.
25 Ways Social Media Prepares You for the Downturn
First: Be Proactive
In a situation where everyone’s repeating the gloomy news, I advocate that you put your house in order. Other, much better websites will give you the how-to for your financials. I’m thinking about you, your career, and the face you show the world on the web.
- Google yourself and see what shows up. If it’s not what you WANT to have show up, start building up a main site, and pointing to it using outposts.
- Tidy up your LinkedIn profile. I’ve shown you before how to improve your LinkedIn Profile and how to make your LinkedIn profile for your future. Get cracking.
- Get on Twitter. Make sure you have a nice avatar, and easy to remember name. (Amazing how some folks don’t do this.)
- Then, start using Twitter Search intelligently. Look for search terms that make sense for you. (Try this query as an example.)
- Make your blog ready for business. Or, make your blog a business unto itself.
- Pick up great financial advice from trusted sources, so that you can live within your means.
- Look for discounts, like 50% off attending a great conference (email me to see if I have more tickets left - cbrogan at crosstechmedia dot com). - Plug for my conference, but hey. Financial in nature.
- Build conversational relationships with other business people in similar roles at other organizations on Facebook, on LinkedIn, and elsewhere AHEAD of needing the job.
- If your job is location-specific, start a local community blog targeted for business types in your area. Make it about the community at large, but feature prominently in it. Share this information with local news sources, local press, on Craigslist, etc.
- Take new photos of yourself and upload to Flickr, nicely labeled with who you are, your blog’s URL, etc, so that people might find you and your likeness easily when Googling.
Money-Making Opportunities
If you’ve got to find new ways to make loot, don’t fret. Just put some effort into finding which money-making opportunity might pay off the best for you. As others are worried about their jobs, why not find ways to augment your earnings in the short term by trying some of these ideas.
- Investigate products you can sell on your website. Consider getting an affiliate account with Commission Junction or LinkShare
- Sell your own educational products on your expertise, especially if it would help retrain someone out of a job.
- Expand your offerings to cover new service or product ideas.
- Shift your existing pricing with the current economy in mind: shorter terms, different payment options, one time deferred first payment, etc.
- Seek stock opportunities to purchase for your portfolio in their depressed state (if you’re into stocks).
- Sell the first ten pieces of advice as consulting to other people in the community out of a job.
- Look for project sharing opportunities, especially if you do something that’s somewhat modular like web work.
- Look for ways to consolidate your business practices with other people. There might be economies involved in partnership that would make a world of difference.
- Find ways to revamp old products or services or offerings and re-sell them today.
- Turn 3 hours of your “after work downtime” into “serious business planning” work time. (It’s 11:40PM as I write this, if this gives you any idea how seriously I treat this step.)
Five Quick DON’Ts
Sorry to end on a negative, but while you’re at it, make sure you don’t fall prey to these kinds of situations.
- Don’t sit around amassing news stories on what’s going wrong. Yep, stuff’s going wrong. Deal.
- Don’t worry that big companies won’t buy your product or service. Find the product or service that they will buy.
- Don’t join groups of fired coworkers, no matter what they say the goal is. They are often pools of negativity, and if those folks also don’t have jobs, why would you look for jobs there anyhow?
- Don’t jump at the first thing just because you like eating. The second thing is almost always right behind it. Give yourself space to evaluate.
Smarter minds than mine will tell you how to weather the storm from the financial perspective, but maybe some of this will help you out.
Any other advice that you want to share with the gang?
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Photo credit, Tony the Misfit
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Thanks, I needed that. You gave me a fresh idea and it’s already lead to solid lead. Wow.
Chris, what an inspiration to see a positive take on it all. Getting pulled down is too easy, provides excuses in spades. You remind me to stay focused, respect the good stuff, and keep thinking. Thanks!
You’ve done it again. Thanks for the tips! I especially like the Flickr idea - very clever!
Great post Chris! Been following you for a while now (reading the blog and enjoying your informative tweets) and your desire to help people out really shines through. I just wanted to say thanks for the heads up on so many wonderful blogs and useful nuggets of information. Cheers! Sarah
brilliant. i started reading, then immediately went to refresh my linked in profile and re-connect. your words are powerful my friend :) thanks for the insight.
Couldn’t agree more, Chris. It emphasizes something I’ve been saying for a long time - that social media is the model on which everything and anything can learn from.
Although it may still be in its infancy, it’s already head and shoulders above more established mediums and thinking when it comes to sharing knowledge and genuine help with people.
Chris,
Thankfully I workout/run alot because I’m definitely keeping the soda companies in business staying up so late night after night “hustling,” but then, that’s what it’s all about eh?
This is another great actionable post, particularly with so many people really seeking information like this right now.
I’m kind of like Seth Godin though, right now is the perfect opportunity to jump in and start taking risks. Now, more than ever, you need to be building your brand equity. Even with the economy in its current state, there’s still opportunities (or you can make your own) out there for rockstars. There always will be.
good stuff as always, chris. everyone I know (that’s not online, of course ;) needs a fresh bowl of the “dont’s” in this article.
Chris,
If I may be so bold, a few more thoughts for your readers:
-Optimize your LinkedIn profile so recruiters can find you. Include industry buzzwords and phrases.
-Do the same for your Twitter account. Include a link to personal web site or blog. No site? Link to your LinkedIn profile.
-If you are unemployed be sure to not only start what Chris has suggested and keep doing it after getting the new job.
-If you are employed do the suggested. Be proactive. Be easy to find.
-During the good times when us pesky recruiters call do not dismiss us. Make friends with us. We will remember the relationship if things go bad and you call.
-The whole economy does not suck. Not every state is in a recession. Not every industry is in panic.
“This is another great actionable post, particularly with so many people really seeking information like this right now.”
Yeah this also was something I was thinking about the other day. Really came in good time.
Right now I think there is opportunity but ya gotta play your cards right.
I especially like #21…a great reminder not to become paralyzed by bad news. Deal!
So confident in social media I have just sold my half of a production company and starting Social Media biz. Great tips. As always great info. Thanks Chris.
Study. Study, study, study, so that you know not only what’s going on in your industry, but what’s happening in the broader economy. If you can spot trends and important items before anyone else, you’ll know what’s coming and how to adapt to it. Your suppliers and vendors will come to rely on you, rather than the other way around. Your customers will value you all the much more. And hey, if worse comes to worst, you’ll be able to talk about something useful during the job interview…
Chris, I was doing some of your tips very intensively for some time, especially in social Media and quality link building, and this morning I’ve got a real business offer from totally opposite side of this planet. I was so very excited! Now, I’m going to slow down a bit to strengthen my social networking profiles, even more.
Three more thoughts…
If you do find yourself out of work, send out Tweets or put in your Linked In status updates that you’re looking for new opportunities–not every day but every couple days. People like to help. I know I’ve forwarded job openings I’ve seen to people who have done this. Then do the same when you have interviews–it keeps people posted and involved in your story.
Take your social networking offline when opportunities arise to go to Linked In Lives or Tweetups.
And (not so SM related) if you still have a job–apply now for a home equity line, overdraft line, business credit line or something that could provide a cushion if you should find yourself without a paycheck.
Tracy
Awesome tips Chris! Thanks for the education!!!
Chris Great Post…the silver lining in this current economic crisis is Social Media. The importance of Social Media, in terms of how many minutes/hours a day people are using it has risen greatly in the last 5 years, and the category as a whole is experiencing a massive lift in usage over the last few weeks. This is due in large part to people proactively taking advantage of the Social Web to communicate, collaborate, and network. In an uncertain time when banks can fail, markets can falter, connections can be the most stable commodity! Thanks for the advice.
Thanks for the helpful tips. I have one to offer if you are laid off and searching for a job. Don’t be afraid to temp - it gives you money in the short term, you meet new business connections and you get a chance to see a company’s culture and decide if you are a good fit or not. In my experience, the companies I worked with were very supportive and helped me network.
Posting a resume on Craigslist also helps get the word out.
Thanks for this really useful, positive list Chris, nice antidote to the non stop media gloom here in the UK. Although thankfully, some people are starting to realise (as some of your readers point out) that now is the time to jump on opportunities that perhaps others are too fearful to contemplate right now. As hard as it can seem, now’s also a good time to stand back and take stock of what’s really important and stay away as much as poss from the doom merchants.
Hi Chris.
How do you do this? I mean, seriously. The amount of research and time just to put together the resources must be significant. Is it based on experience? Is it snippets of info from reading the blogosphere?
I guess I’d like to see a Yea-Me post from ya ’splaining how it is you work your magic.
Cheers.
George
Great comments here, Chris. Your 20th point on using your “spare” time in the evening to get a lot accomplished in terms of work outside your 8-5 job reminds me a lot of a couple of recent videos from Gary Vaynerchuck:
http://garyvaynerchuk.com/2008/09/23/my-web-20-keynote-in-nyc/
http://garyvaynerchuk.com/2008/08/21/you-can-have-bothjobs/
Saying that you don’t have time to improve/create your personal brand or to create a new business is an excuse. One of Gary’s best quotes here is, “stop F!%@ing watching Lost!”
This was so helpful. It reinforced an idea for me - creating good relationships and networks can happen in an upswing or a downturn. Yet the value of the relationship will endure throughtout them all. So it really becomes about creating enduring value through relationships. Nice!
Candi
Hi Chris,
This was so helpful. I’ve been a little lazy with Linkedin lately, but you’ve reminded me of some things. Going to crave out time to upgrade the profile and make connections.
Hey Chris, nice list! But, what about linking to your twitter profile at #3 instead of the lame twitter HP?
Cheers, sebastian
good thoughts Chris. Now is definitely the time to engage rather than give up.
Hi Chris,
I understand Jim Kukral is helping Leon with his product launch, thank you for recommending Jim, he is the real deal.
On your post, I’m in that full-time blogging, part-time income slump right now, with a pending bankruptcy in January 2009.
Capital expenditures are down in my core skill set, Senior Technical Project Management for Google and others…..
Your advice is solid and honest, I will begin to apply these techniques today. Thank you for your clarity.
Respectfully, Nicholas ‘the video guy’ at BlogWorld Expo 2008
Good stuff, Chris; thanks! One more Do and one Don’t from me:
The DO: If you’re anywhere near Boston, attend IDEASBoston at the end of October. (Google it.) I went to the first one last year and it was a wonderful mind expander. Brilliant people all.
The DON’t: Tempting as it is, don’t get obsessed with Sarah P. I’m fighting this one myself, and clearly that way lies madness.
Great contribution Chris. If we watched CNN and MSNBC the world would be ending rather than a recession starting. The prime thing to do is remember that every crisis or problem is an opportunity. Like the market- for every seller there is a buyer.Social media is like the old fence you talked over…now you can have millions of fences.
Yes, someone mentioned LinkedIN but I saw the photo and that’s all I could think about. If you are looking for a job buff up your LinkedIN profile. If you are looking for company advice a good place to find it is LinkedIN answers. Lots of good people willing to answer questions and give advice to others who are worried about staying afloat.
I linked to a few of them in my post today. It’s also a good way to build a network, subscribe to the answers that best match the category where you can give useful answers and take a few minutes to go through them twice a day and give answers. Helping people will make you feel better *and* help them make better decisions with great information.
Fan-freaking-tastic advice Chris!
The more time that this horrible economy rubbernecking goes on, the more I am seeing a few people quietly but powerfully pulling forward and putting their careers/businesses on high gear.
In the meantime, everyone is huddled around the water cooler, watching how many points the stock market is dropping today.
I love being proactive. And staying scared does nothing but breed paralysis.
Thanks for sharing!
-Pam
Awesome list Chris, as usual.
Chris - Can we have you on the news instead of the doom-and-gloom talking heads? All they’ve done is whip up what’s now become a self-fulfilling prophecy. They’re having a field day.
To your points…Only yesterday I started on 11, 12 and 13 - nice confirmation.And my business is going into overdrive.
May I add few more suggestions… choose your attitude and your thoughts. Thoughts are powerful and fearful thoughts attract nothing but fear - and paralysis. Success thoughts attract success. We DO attract what we dwell on. (Yes, the Law of Attraction is alive and well. I know it.
Visualise what you want. Every day. In detail. Even 7 minutes/day does wonders. Meditate. And Take Action - every day. Get together with like-minded success oriented people, or a Mastermind group. Or start one. And as far as possible avoid turning on the news…it’s like quicksand, it sucks you down.
Great post Chris… All practical and usable advice…. I find myself filtering out the incessant negative news and surprisingly I am able to focus on my business and be more productive….. As a small business owner I have to stay focused and optimistic.
Twitter ID: TheLookHandM
Chris,
Your post hightlights the range of services I am providing to Baby-Boomers who desire to be tech savvy, i.e. apply new tools to foster their job/career search.
Great to meet you at BlogWorld too.
Linkedin was included with 2 sites into About.com’s Top 10 employment site list. Linkedin is still the only social network on the top 10 list though -
http://www.linkedin.com (professional networking)
http://www.indeed.com (aggregated listings)
http://www.realmatch.com (matches you to the perfect job)
Complete top 10 job site list here:
http://jobsearch.about.com/od/joblistings/tp/jobbanks.htm
Some great points, particularly great when you see things that you may have overlooked and it makes a light go on in yer head.
Good advice, Chris. I noticed that I have been subconsciously following a lot of the advice in your post, especially the “3 hours of future planning” by writing and adding some more polish to my online profiles. Unemployment can stressful enough, but it’s always best to be prepared.
You’re right. With the economy in a slump now is the time to stop fearing, stop complaining, and stop procrastinating. Get proactive. Setup an online business, update your profiles, find something someone wants and needs and go for it. With most people hunkering down in the fox holes, you can come out and make it happen. With people scared to start businesses, people afraid to expand and grow their business, not is your chance. Why not start online where overhead and startup costs are minimal, and there are great resources everywhere to help you succeed.
Thanks Chris for the great and practical tips!
Chris, great post. But on the googling point, what if you’ve got a really generic name like mine - ‘Ed Walker’ - it’s hard to get up there in google terms? I’m currently on page 6 after four months.
What’s #25? Or is the blank space meant to speak for itself (”nothing”)?
That’s for a write-in answer. : )