Time For Plan B?
In the movies, when the hero or heroine’s original plan fails, you hear the catch phrase, “Okay, its time for Plan B”. While in the movies, it is cliché, and having a plan B puts a twist to the story to make it more interesting, in real life, a Plan B is crucial.
If you haven’t noticed it yet, your job, company or industry can disappear or be radically transformed over night. I’ve also experience the disadvantage of being in a agent-principal relationship to start look at alternatives.
While I still hold out that the Almighty promised that He will take care of our needs, it doesn’t mean I don’t make provisions. Joseph in the bible had a dream that 7 years of prosperity will be followed by 7 years of famine. He prepared for it and Egypt became the riches nation at that time because of what Joseph did.
My Plan B looks like this
- I have an emergency fund that covers 6 months of living expenses
- Our only loan is our house loan
- I have developed a broad network of people I could rely on for referrals/job leads if my job ever disappeared
- I have spread our business not to depend on a single provider
- I’ve been learning about the internet and making a few bucks online
Some suggestions to think strategically. Ask yourself if:-
- your experience and expertise be transferred to other industries?
- Is there any certifications you can acquire to strengthen your position
- How much money do you have set aside?
- Who should you go meet now to build you need new connections
- Have you thought of what you would like to do even if you did not lose your job.
The present time is challenging but also a time to reinvent yourself. Grab this opportunity.
