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.
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