3 Best Tips for Career Survival During the Recession

Okay, so there’s no more spinning it, there’s no more if-we-don’t-say-the-word-it-isn’t… There’s only the truth. As in, we are in a recession. See, that wasn’t so hard, was it? To borrow Rule #1 of AA, The first step is admitting you have a problem. Now, breathe deeply, and let’s get to it…

Here’s my best advice for survival- and for some, even thrive-al- as we go through this challenging time.

# 1. Think Short-Term and Long-Term

This economic downturn will pass. Sooner or later, it will be one of those things we look back on, like 9/11 and then like the dot-com bubble and then, eventually, like the gas crisis (which happened way back in the 70s, for all you young people out there). In order to keep your wits about you and not despair, you must consider two things:

What do I need and want to do now to survive and make the best of the current situation?

Where do I want to be when this is over and a little time has passed for the new reality to set in?

#2. Own Your Power

Yes, even in the most dire situations, there is power. If you don’t have a job- or you fear you won’t have a job for long- you can get your resume in top-notch shape. Unless you are a really strong writer with knowledge of how best to market yourself on paper, I recommend that if you can afford it, you pay for a resume rewrite. (I say this not just as someone who writes resumes professionally, but also as a veteran hiring professional. It pays to have the strongest resume possible, especially in a market like this.) 

And, of course, you should network. Reach out to former bosses and co-workers, to people who you met at professional events, and to recruiters and others in the business of knowing the market. And you can network with people you like in your industry. Your friends and friends-to-be. Plan coffee get-togethers where you each invite a couple of people so it’s a bigger group. Exchange resumes and resources. You never know what that might lead.

#3. Look for Opportunities

This is another one where short-term and long-term comes into play.

The wonderful woman who brokered our home purchase a couple of years ago, Jasmine Aimaq, is one of so many people in her field dealing with a market slump. Before the housing slowdown, she was focused on helping people buy and sell homes in the Los Angeles area, and establishing herself as a specialist in eco-friendly real estate, advising people on purchases of “green” homes and on renovating homes to make them more “green.” She even appeared on HGTV’s ”My House Is Worth What?” as an expert appraiser of a “green” house being featured on the program.

A couple of weeks ago, I got an email from Jasmine. She is now providing a property tax reduction service for homeowners. For a flat fee, she will provide an analysis of the market the home is in, along with comps supporting the reduction of the appraised value, and submit the report to the county for consideration. She even does a free preliminary search before you sign up for the service to see if it’s likely to be worth it for you.

I was thrilled to get this email, as I had wondered how one would go about getting their property value- and thus, taxes- reduced. I contacted her immediately and eventually sent others her way. Not surprisingly, she has gotten a lot of business for this new service.

Now, I am sure she would rather be helping people buy and sell homes, ”green” and otherwise, but she has found a way to add value, make additional income, and widen her circle of contacts during the short-term economic downturn. Knowing her, she is also using this time to position herself for her long-term career goals in light of changing global circumstances.

How can you adapt to the current economic situation and have an opportunity for the short-term?

Looking down the road, how do you see your career path evolving and how can you capitalize on it?

Bonus Non-Career Tip: Do Things that Don’t Cost Much (or Anything at All)

So it’s not exactly the free-spending days of yore (a couple of years ago). Not by a longshot. But there is still a lot you can do.

Look for cheap and free fun in your local community. Public holiday concerts, green spaces to hike in, galleries and museums with open days. You’d be surprised how much is out there if you just do a little research.

Trade services. This can be anything from you and a girlfriend helping give each other home hair color treatments if salon visits aren’t in the budget right now to trading off babysitting nights. Get creative.

Help the Less Fortunate. Figure out what you like to do, whether it’s visiting with seniors, feeding the homeless, or reading to kids in the hospital. There is always a need for volunteers in the community.

No one knows how long it will be before things get better and there is a lot that is out of our control when it comes to the current economic situation, but hopefully, you will find ways to pass through this time that will leave you better off in the long run, both in your career and personally. Albert Einstein said, “In the middle of difficulty lies opportunity.” I hope I have shown you ways you can find yours and take advantage of it.

1 comment November 25th, 2008