The fickleness of the economy and the world makes it more and more imperative to figure out a way to produce income. I’m not talking about building an empire but if you do that’s great too. What I am talking about is finding a way to feel secure in your ability to produce income that is not reliant upon some executive somewhere utilizing cost saving methods that might result in your losing your job.
I tell my clients both experienced and inexperienced that they should seek something that they would do for free but get paid for it. If you can answer that question ‘what would I do for free’ you are half way there in creating a new stream of revenue or just a way of supplementing your current income.
If you have a hobby, interest, or desire start doing it on a part-time basis. Take your years of work experience plus your tacit knowledge and get paid for it. Tacit knowledge is defined as the kind of knowledge that is difficult to transfer to another person by writing it down or verbalizing it. I personally describe it as knowing all the nooks and crannies of something because you have been doing it for so long, which is a valuable skill that you should include in the pricing of your services.
So take your tacit knowledge & expertise, write up what you do, why you are good at it, order some business cards, put the word CONSULTANT on them, research the going rate for consultants with your experience and start selling your services. Keep doing your day-pay-the-bills job and build your new vocation on the side.
Taking this step will make you feel more in control in a world that makes us all feel like the rug is being pulled out from under us and earn you some money.
Nothing you choose now is written in stone. Years of work experience will probably allow you to work as a consultant in more than one area. Try them all. Drop the old labels for yourself and become a specialist. And get to making some money.