How To Have a Backup Plan

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How To Have a Backup Plan

The economy which we live in today is seemingly harsh. It calls for us to learn to embrace change, be flexible and have a backup plan.
Notable and professional speakers have stated you should not have a plan B. They say “stay focused on your plan A; plan B distracts you from plan A”. I beg to disagree. I stand strongly for a backup plan.
I have watched people get fired from their jobs without any notice. I have seen grown men who have kids cry on their knees because they had no backup plan. Life stops in mid-sentence and all you have left are the debris of your past; memories which have become long forgotten.
Today, I would like to recommend three businesses which you can start with minimal capital. You can even start these businesses while you are working. This would enable you to have a backup plan if any unfortunate and unplanned incidents occur.
We do not pray for anything bad to happen but it is wise to have a backup plan. This way, you can lift your head high and not live in fear and uncertainty. You are in a better place to work harder and smarter knowing you are investing in something long-term for yourself and your family.
1. Uber
Uber is a luxury cab service which allows private car owners to use their cars as taxis when the car owner is free. If you have a car already available to you, you can partner with Uber. A friend of mine comes to the office in the morning with her driver and during the day, her driver who Uber certified drives her car around as an Uber taxi. She makes a lot of money from this business monthly.
Yesterday, I took an Uber taxi and it was a phenomenal experience. The driver told me an amazing story of how he had tried so hard to get a job after graduating from the University. He decided after many months to partner with Uber instead. He was able to get a loan from a friend to buy a car off another friend and now, he makes so much money from his Uber business he is even helping his relatives financially.
2. Consulting
What skill do you have apart from the work you do? You can start a part-time consulting business. In order to avoid a conflict of interest and keep up your integrity, you need to do a business which is not in line with what you do at work.
You could start a lifestyle consulting business, beauty and makeup consulting, management consulting, digital marketing consulting, business consulting, marriage counseling, property consulting or educational consulting. In consulting, you need minimal capital. All you need to do is register a business name and you can start immediately.
You would need to start by leveraging on your current contacts such as friends and family. Start small and as you build a brand for yourself, you would gradually become a household name. The major thing to have at the back of your mind is you must deliver value consistently and understand every customer is important.
3. Cleaning Services
People are constantly looking for someone to clean their houses or offices. You can start a cleaning service with minimal capital. Charge a flat fee for the planned work. The payment could be one-off or it could be weekly or monthly. Whichever mode of payment you agree on, make sure it is flexible and suitable for your customer.
Ensure you hire competent hands but in cases where you cannot find competent people, go for people with great attitudes. A friend of mine complains about the woman who cleans her house. She says the woman is not detailed but it is hard to let her go because she has a great attitude.
Also she got this woman from a reputable person whom she escalates to when she has issues with this woman. This person gets commissions from the salary the woman gets. It helps to know there is someone you can escalate to when issues arise.
No matter the business you choose to start, make sure you do adequate and basic market research before you begin. Define your target market and find your prospective customers. Be committed to adding value to all your customers no matter how small they might seem.
Stay driven, committed and think long-term. Always ask yourself “why am I doing this?” Is it to give my family a better future? Is it to live a healthier life? Your WHY will keep you focused in the long-term.

Founder and CEO of My Savvy Mind
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