How to prepare yourself for the upcoming Recession

If I ask you, what recent problem the current world is facing?

Obviously, you will not think of answering the Coronavirus epidemic. The world stopped growing up because of the catastrophe. 

Now, people are locked in at home, and businesses and organizations are closed. The world is in crisis, with its economy, education, people, and development.

The possible crisis, the world can face is economic depression. We know, already 1 crore unemployment increased in the USA. The same goes for all other countries.

 In Bangladesh already unemployment is a common problem, whereas due to Coronavirus epidemic garments, businesses and organizations are being closed. It chances to create a great depression in the Bangladesh economy. 

What problem do we have? 

Basically, we are in the job economy. The catastrophe showed us how we mostly depend on our garment sector. It carries 3.5 million people mostly depend on garments. If someday garment factories become closed they will lose their jobs. 

Furthermore, our education system inspires our students to build a job or paycheck mindset. That’s why during an epidemic or after the epidemic, instead of having a minor job sector, we have largely job seekers. That’s creating a large number of unemployed.

What do you need to do now? 

In the situation, it’s time to discover the mystery of the skilled people. Ask yourself, people who are skilled in a niche, are they worried about losing jobs? 

Where most of the people are locked in, many skilled people working from home and earning money. I know many of my colleagues, to whom the epidemic didn’t impact their work. They are working on their laptop and staying at home. 

So, it’s time to develop your skillset. You must change your cash flow. It’s all about following a cash flow that drives you to your financial freedom. Here I am sharing a cash flow that I follow in case. 

1.High-Income Skills 

2. Scalable Business 

3. High Return Investments

What High-Income Skills can you develop in this epidemic time and be prepared for the possible economic depression?
In a sentence, high-income skills mean, you earn Six figure income every month by using your potential skills and abilities. Here I am introducing you with some High-Income skills that you can develop.

  • • Software and Web Development
  • • Entrepreneurship
  • • Copywriting, Business Writing, Technical
  •  Writing. 
  • • Web or Graphic Design
  • • Digital Marketing
  • • Teaching, Training and Coaching 
  • • Supervising Team’s and Operations
  • • Sales, Closing, Deal Making 
  • • Public Speaking
  • • Creative Skills 
  • • Financial Skills 
  • • Cyber Security
  • • Digital Content Creation 

It’s a proper time for you to develop One of those High-Income Skills. Your one skill can payoff you forever, even if in a crisis moment. That’s why I always suggest young generations to develop High-Income Skills instead of relying on a paycheck job.
When your skills make sure your Six-figure Income, you can easily run a scalable business. That will make you financially confident.

Article Contributor

mizanur rahman

Mizanur Rahman 
University of Chittagong
English, 2nd year 
e-mail: [email protected]

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