Pay the Bills While You Find Yourself

The highest use of capital is not to make more money, but to make money do more for the betterment of life. –Henry Ford

Every day I get up and look through the Forbes list of the richest people in America. If I'm not there, I go to work. -- Robert Orben


Money. That pesky necessity. If we didn’t have to pay for food, clothing and shelter, career decisions would be simple, right? You could choose your career by what you want to wear: Ripped jeans and flip-flops or a suit with pockets full of electronic handhelds that scream “VIP ON BOARD!” You could drop in, drop out, experiment and dream to your heart’s content.

Often when clients call me ready to make a BIG move, one of the first issues we address is “Where will the money come from in the meantime?” Whether they are so burned out they want to quit, want to start their own business and live the dream of being The One In Charge, or have been outsourced or laid off by the company to whom they have devoted the best years of their life, the issue of paying the bills until they find “the next thing” must be addressed.

First, a general rule of thumb you read in many career books is to have at least six months’ living expenses tucked away. I personally wasn’t comfortable until that figure reached two years. Realistically, time passes very quickly when you are concerned about money. And the longer you are able to financially sustain yourself, the more time you can spend looking for a really great opportunity. So if you have the luxury of time and a steady income now, prepare ahead of time and prepare well. Tuck it away for that rainy day.

If you don’t have that luxury, (you have already taken the leap, you left involuntarily, you’re still employed but the days are numbered, etc.) take heart. There are always ways to make money. Here are some suggestions for doing just that. This is by no means an exhaustive list, but offers some real world, do-it-now ideas:

• Work temp or part-time. You can do this through temp agencies, professional organizations, your personal network, and any number of ways. It’s a great way to keep yourself in circulation and bridge the gap without feeling trapped.
• Use a hobby to make money. I know one IT professional who was laid off in the dot-com collapse and began using his handyman/contracting skills as a “temporary” solution. He got so much work so fast that he has never gone back to his former career. Look around at your social and business circles and see what common needs people have that you could immediately fill. Make a list of your best skills and look at what you could turn into cash within a month or two, then get the word out!
• Become a consultant. Use the skills that have taken you this far in your career. If appropriate, network with former colleagues or clients and offer your services independently.
• If you’re really burned out, work the jobs that college students fill in the summer. An upscale coffee shop where cool people hang out. A retail store where you have always wanted an employee discount. While I was on vacation in Colorado, one problem I saw was that many of the daily tours and activities had been curtailed because that week so many college students had just returned to school. High school and college students flood the job market in the summer and vanish in the fall. Capitalize on the opportunity!

Remember, you may have to think outside the box in this situation. You may need to consider the job (albeit temporarily) that you never thought you would take. Or you may need to start a business doing something you can do to make money quickly before you can start the one that you have always dreamed about. I am a firm believer that working and being productive is never a waste of time and can often lead to something great and unexpected! Remember, always MOVE FORWARD!

If you have other ideas or suggestions for temporary ways to earn a living, I would love to hear them. Post comments to this blog and share your ideas with other readers.

If you would like to craft your own personal life vision and get started on its path, give me a call. I would love to talk further with you about it during a free consultation. Just drop me a note and we will set up a time!

Warmest Regards,
Gwen