I was laid off from my job of three years three weeks ago. I really thought it was going to be a hardship for my family but it has turned into something else completely. I’ve actually been able to consult daily, although I’ve still been taking interviews and have to still be available to work. Finding another job has not really been working very well, but I did sell two projects and have a third that another consultant is doing for me. So while the job front is not doing so well, consulting has been booming.
Consulting is still selling time for money, which is what you don’t really want to do when you’re in business, unless you sell other people’s time. And mostly what I’m doing is selling my own time. Still, I am making more as a consultant than I would be an employee, which has helped me to create a cash surplus. On the downside, I am allowing my clients 30 days to pay their invoices, so I have slow cash flow. Still it does beat working at a regular job.
I continue to work at building income streams that don’t require a ton of my time but it is slow going. Maybe in a year or two these efforts will pay off. But right now, consulting is paying the bills… and it is giving me the freedom to play a little. It’s not a bad life. I work hard and play hard, and have a little cash available.
Are your business efforts paying off for you?