Building a Side Project to Become Recession-Proof
Having a side project can help you become more recession-proof and make you more employable. Learn how to make the most of your knowledge and skills to make more money in the open market.
The Diversified Solopreneur | Building my one-person business to $5M+ in annual profit and sharing everything I learn along the way at https://t.co/27OAdtwjh5
If you're one of the best employees at your company, you should damn sure be building something for yourself on the side.— Justin Welsh (@thejustinwelsh) June 25, 2023
When a company is willing to pay you for your knowledge and skills, the open market will likely pay you more.
Maybe even 5x more.
Having a side project helps you become more recession-proof.— Justin Welsh (@thejustinwelsh) June 25, 2023
It ironically also makes you more “employable” as you build skills that are transferable to other jobs as well.
For example, learning how to sell your own product helps you learn how to sell other products.
Employees capture 10-20% of the value they create, while solopreneurs capture 75-100%.— Justin Welsh (@thejustinwelsh) June 25, 2023
And you don't need to go "all in" to start.
Just find 30 minutes per day to push the ball forward.
Once you have clear traction, maybe dive in. Maybe not.
The flexibility is your friend.
If you’re employed you can still:— Justin Welsh (@thejustinwelsh) June 25, 2023
- Write eBooks
- Create video courses
- Write a paid newsletter
- Do cohort-based coaching
The barrier to entry has never been lower.
The potential to replace your salary has never been higher.
Have fun out there!