How to Achieve Financial Success Even During a Recession

We all agree that these are challenging times. The way we live has been tremendously impacted by the pandemic, and one of the hardest hits in our lives is the way we earn money. Achieving financial success seems impossible in a time of lockdown, limited movement, modified community quarantines and economic recession. We are faced with the risk of losing our source of income as companies are either downsizing or closing down due to the pandemic. 

However, there’s this famous quote by Albert Einstein, “In the midst of every crisis, lies great opportunity”. We know that online selling blew up during the quarantine period, and with social media platforms like Facebook and Instagram adapting to E-commerce  we are given a great opportunity to become our own boss and build small businesses. Teachers, call center agents, even professionals are exploring work from home opportunities. Pivoting our revenue generating income activities online is the best action we can take during this pandemic and onward due to the endless possibilities that the world wide web can offer. 

One of the important pieces of advice that I can offer to aspiring online business owners and workers while building their businesses is to develop their Financial Literacy. Mindset is crucial to ensure financial success. Knowing your relationship with money is an eye-opener. I know this from my experience. For the longest time I have been wondering how I can earn my first million. I imagined myself being free from money worries, but I did not realize that my thoughts and action were not aligned. I was always in debt and had money problems. Until I watched a YouTube video from Jim Rohn in 2018 with the title “How To Take Charge of Your Life”. I was blown away by this question “If you are smart, then why is your bank balance 0?’ Then I realized what he said is true: “ I have enough intelligence, but not enough reasons”.

I started to read books like The 80/20 Principle, Third Edition: The Secret to Achieving More with Less by Richard Koch and Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth by T. Harv Eker. I need to focus on my 20% that brings my 80% of my income. I became selective on how and whom I spend my time with. Focusing on things that matter increased my value which in turn increased my income. From a personal assistant to an entrepreneur building his digital marketing business I became the project manager of that firm in just two years. I started to outsource my Business Plan creation service offering and helped one of my best friends earn extra income too. I also began to invest in things that will appreciate in value, like properties and stocks since they are on sale now due to the pandemic. Reading the Secrets of the Millionaire Mind made me fix my relationship with money. I realize that respect is important to have a happy relationship, and this goes to money, too. In order for money to stay in my life, I have to respect and value it. I need money to help others, which has always been my reason for wanting to be a financial success.

After shifting my mindset by applying the learnings from Jim Rohn, Richard Koch and T. Harv Eker, I am grateful that I recently achieved my 1st million peso annual revenue from working online from home. All the sacrifices, hard and smart working paved off. I am now moving on to achieving my next milestone, which is building a business that will give me passive, residual income for my retirement years.

So if you also want to find Financial Success during this recession, finding an online platform to earn money is the first step, then continue learning and upgrading the way you think. I am grateful that I belong to a Facebook community that always gives training and webinars for personal growth and development. If you want to be a part of the group, please fill up this form and I will send you the details.

Good luck on your journey to Financial Success!!

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