In the IT industry an inordinate, but necessary, amount of time is spent developing disaster recovery plans. I'm sure this happens in many other industries, but is more magnified when it comes to technology.
Time is spent analyzing "what if" scenarios. When single points of failure are identified, creative ideas are considered for creating alternate solutions. This could take weeks, months or even years to complete. Even more time is spent testing the disaster recovery plans. Fine-tuning takes place by scheduling test plans on a regular basis.
How come very few people have disaster recovery plans for their income? One income is a single point of failure. Some very smart persons may say "a 2 income couple creates redundancy". That is only true, if the couple is living off only 1 income. If both incomes are required to pay all required expenses every month, 1 person being laid off, outsourced or even leaving this good green earth could wreak havoc on the other person's biorythms. Our quality of life style is dictated by our income. People are not afraid of losing their jobs or business. They are afraid of losing their income.
If both persons each created alternate income sources, that's disaster recovery planning at its finest. Now this may sound like I'm leading up to a commercial and will be asking you to send 3 easy payments of $9.95 for my program. Not true. I'm merely presenting food for thought to those interested in managing their careers like a business. Take what works and discard the rest.
I started working at 11. At the ripe old age of 12 I realized having 1 paper route would not sustain my fluctuating income. 1 week I might make $2.00 in tips. Another week, I might make as much as $7.00 in tips. I liked having the $7.00. It was way more than the 25 cents a week allowance my mother gave me. I asked her for a cost of living raise, but she wasn't with that program. I hedged my bets by asking Mr. Current for 2nd paper route. He gave me 3 routes. He said "you are reliable and customers call me about your good service". With a little extra effort, I now averaged a steady $10-$12 per week in tips. I was living large ($21) on the weeks where each route provided $7.00 or more in tips.
Since that time, I have always made it a point to create multiple opportunities for income. During 2001-2002 I was still able to pay my bills with no problem, despite getting dropped from a lucrative consulting assignment. If it had taken 3-5 years to land something else, the other incomes would have carried my financial responsibilities with no worries where the next check was coming from. Having alternate incomes allowed me to make good business decisions when other opportunities came up. I could pick and choose and wait it out. Alternate incomes eliminated having to make desperate emotional decisions about taking anything that came along. I had no worries about taking a pay cut. I did not have to take an offer; any offer. When recruiters asked me if I was working [which is a trick question, by the way], I answered "YEAH BABY".
People working or who have alternate income usually get paid what they are currently making, when job opportunities come up. People out of work, with no alternate income, have to settle for less. Many times they settle for much less. Don't take my word for it. Look at entertainers. Those currently working, steadily increase their income deals. Entertainers making come backs, take what they can get.
In my workshops I prove to staff and the corporation that hires me, people are more productive when they are empowered to succeed by running their careers like a business. First order of business; don't have 1 client or customer ( job). You will smile more at work, with less tension, when that 2nd income kicks in. Your boss will be happy with your new attitude to perform better. It works every time.
Career management is very different from career development. Human Resources can help with the latter.
Copyright (c) Savvy Intrapreneur & C. E. Reid
Time is spent analyzing "what if" scenarios. When single points of failure are identified, creative ideas are considered for creating alternate solutions. This could take weeks, months or even years to complete. Even more time is spent testing the disaster recovery plans. Fine-tuning takes place by scheduling test plans on a regular basis.
How come very few people have disaster recovery plans for their income? One income is a single point of failure. Some very smart persons may say "a 2 income couple creates redundancy". That is only true, if the couple is living off only 1 income. If both incomes are required to pay all required expenses every month, 1 person being laid off, outsourced or even leaving this good green earth could wreak havoc on the other person's biorythms. Our quality of life style is dictated by our income. People are not afraid of losing their jobs or business. They are afraid of losing their income.
If both persons each created alternate income sources, that's disaster recovery planning at its finest. Now this may sound like I'm leading up to a commercial and will be asking you to send 3 easy payments of $9.95 for my program. Not true. I'm merely presenting food for thought to those interested in managing their careers like a business. Take what works and discard the rest.
I started working at 11. At the ripe old age of 12 I realized having 1 paper route would not sustain my fluctuating income. 1 week I might make $2.00 in tips. Another week, I might make as much as $7.00 in tips. I liked having the $7.00. It was way more than the 25 cents a week allowance my mother gave me. I asked her for a cost of living raise, but she wasn't with that program. I hedged my bets by asking Mr. Current for 2nd paper route. He gave me 3 routes. He said "you are reliable and customers call me about your good service". With a little extra effort, I now averaged a steady $10-$12 per week in tips. I was living large ($21) on the weeks where each route provided $7.00 or more in tips.
Since that time, I have always made it a point to create multiple opportunities for income. During 2001-2002 I was still able to pay my bills with no problem, despite getting dropped from a lucrative consulting assignment. If it had taken 3-5 years to land something else, the other incomes would have carried my financial responsibilities with no worries where the next check was coming from. Having alternate incomes allowed me to make good business decisions when other opportunities came up. I could pick and choose and wait it out. Alternate incomes eliminated having to make desperate emotional decisions about taking anything that came along. I had no worries about taking a pay cut. I did not have to take an offer; any offer. When recruiters asked me if I was working [which is a trick question, by the way], I answered "YEAH BABY".
People working or who have alternate income usually get paid what they are currently making, when job opportunities come up. People out of work, with no alternate income, have to settle for less. Many times they settle for much less. Don't take my word for it. Look at entertainers. Those currently working, steadily increase their income deals. Entertainers making come backs, take what they can get.
In my workshops I prove to staff and the corporation that hires me, people are more productive when they are empowered to succeed by running their careers like a business. First order of business; don't have 1 client or customer ( job). You will smile more at work, with less tension, when that 2nd income kicks in. Your boss will be happy with your new attitude to perform better. It works every time.
Career management is very different from career development. Human Resources can help with the latter.
Copyright (c) Savvy Intrapreneur & C. E. Reid
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