In times of economic uncertainty, having a backup plan for your career makes a lot of sense. It might come in handy if your industry goes belly-up, or you might find yourself falling back on it if changes at your workplace make what was once a great job no longer enjoyable. Having a plan so that you’re prepared for any eventuality can be invigorating and liberating as well. If you think you might benefit from having a backup plan in place for your career, consider the following when creating it.
– Is it flexible? Many backup jobs are good precisely because they can work in a dynamic situation. Good fallback positions are often simple jobs in which you can vary your hours and schedules to suit your needs. Freelance and part-time positions are also smart options.
– Does it allow for growth? Sometimes the best part of a backup plan is that it exposes you to an unexpected opportunity. Applying for a basic job at a company that also has more desirable positions can put you in the best possible place from which to jump on an unexpected opening.
– Is it scalable? You may be able to start your backup plan small and grow it quickly if the need arises. Freelance and side gigs are a great way to establish a small secondary income stream while you’re employed and can turn into a full-time occupation if you suddenly lose your job. Starting a microbusiness like an online shop selling handcrafted goods or a blog that derives revenue through advertising and affiliate sales may also give you a scalable backup plan.
– Will it be around when you need it? Generally speaking, you want your backup plan to be more stable than your current position. It doesn’t do much good to have a well-developed plan for moving into an industry likely to be hurt by the same economic forces that would cause you to lose the job you currently have.