Kanika Tolver is CEO and founder of Career Rehab, which offers career advice. She says people who have been laid off can monetize what they already know from their previous jobs. Tolver suggests several side activities, including becoming a paid speaker and selling content. Something is loading.
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The job market, especially in the tech sector, is currently volatile (to put it mildly), with many professionals worrying about how they will make ends meet after being laid off from high-paying positions and have lost benefits. Worse still, there is growing uncertainty about the availability of new positions, in part because hiring processes have slowed due to longer interview structures.
But what if these professionals could start a business as a side hustle – to monetize what they already know from their old (or daily) jobs? Many have undoubtedly wanted to become entrepreneurs for a long time, and so this unpredictable period can also be the perfect time to creatively apply the education, experience and expertise gained.
These options for doing just that can help professionals earn extra income while enhancing their personal brands.
1. Become a paid speaker
Thousands of fertile minds are regularly paid to speak at conferences, companies and universities. But before you begin efforts in this direction, it’s important to create two to three iconic conversation topics that touch on the strengths of your experience and the service you can provide, along with semi-detailed descriptions for each. Once this is complete, a professional website should be created which includes a speaker media kit containing video sample presentations. (After the first gigs, complete this video section with live audience clips.) Additionally, for this area and those listed below, it may also be a good idea to set up an LLC and obtain a tax number. professional, as well as a logo.
The speaking business is potentially very lucrative and offers the added benefit of being exposed to new job opportunities.
2. Consider an Adjunct Professorship
Many industry executives affected by corporate layoffs have master’s degrees and are therefore referred to as adjunct professors. Some teach remotely and/or only a few times a week. It can be a great way to give back to the next generation of professionals while getting paid to teach a subject that matches professional expertise. Not to mention, being a professor is great for personal branding, with landing tips and other opportunities through the academic pipeline.
3. Create Paid Content
In the digital age, selling content can be both a sustainable and lucrative way for professionals to earn extra money by developing courses, books (including e-books), and coaching programs. (Over the past three years, career-related paid content has done particularly well on platforms such as Patreon, YouTube, and TikTok.) Such material performs best when properly branded, marketed, and sold to the right public, of course, so I recommend leveraging social media. media, email marketing lists and professional online communities to spread the word.
4. Look for part-time remote work
Part-time remote jobs are amazing if you can get a good hourly rate. Many offer flexible evening or weekend hours. Start the search by tapping into websites like Indeed, LinkedIn, and Glassdoor. As companies cut back on full-time positions, this can be a good time to step in, and there’s always the possibility that a part-time opportunity will turn into full-time (if desired).