We live in unprecedented times. For those in transition, whether because of layoffs, military to civil transition, business slowdown etc, it is important even more so now to keep our sanity and not fret. Maintain routines for yourself and your loved ones. Your positive and pragmatic attitude is the need of the hour.
This is the time to spend 3-4 hours daily on what next. Go back to the drawing board. Rethink what are the pain points of your target customer now and in the next 5 years. Some ideas for recession proof (relatively) careers are:
>> Medical Professionals and allied functions- Its not just doctors and nurses. Pharmacists, Administration, Care Providers, Physiotherapists, Occupational Therapist, Chiropractors, Counselors, Elder Care, Substance Abuse Counselors etc. In short, think wellness and how you can possibly help people be more pain free and productive. Think also how you can ally your services to this sector. For example, communication practice focusing on helping healthcare professionals increase their business. This will be an evergreen sector for sure.
>> Law Enforcement and allied functions – As economy goes down, fraud and criminal activity tends to go up. There will be a demand for fraud investigators, forensic investigators, cyber crime specialists. Risk assessment of businesses, BCP testing – again these are areas of opportunity.
>> Educational Services – Economic cycles may come and go, but innovative educational services are here to stay. Modes of delivery are shifting from the traditional classroom. Get your basics right and innovate – that’s the trick to succeed here.
>> Public Utility Services – Electric, Water, Sewage, Trash, Recycling Services will always be in demand, and even more so in crisis. Consulting services which aid these services will also be in demand. E.g. conducting annual audits for recycling services.
>> Supply Chain – With online delivery sales, especially of essentials going through the roof, supply chain and operations professionals are facing an unprecedented demand. Modes of delivery are changing, but people with good thorough knowledge and competence are still few.
>> Financial Sector – Maybe stock market advisors can have a rough day, but there is always a market for the more steadier jobs in finance e.g. tax advisor, actuary, claim underwriter, accountant. Stick to the basics and deliver value.
>> Agriculture – In a crisis more than ever, the focus shifts to food production and supply. Organic food, local produce, these are not just not talk anymore, but fast becoming an essential part of our lives. Find out how you can join this sector, build and leverage your knowledge.
Hope this gives you some ideas. I know I for sure am going back to the drawing board and implementing some thoughts I had now sooner than later. Courses have been signed up, pilot work for new audiences already started.
Stay Safe and Don’t Fret
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