Hiyo! Thank you for your forum post and for initiating a conversation on such a pertinent topic. I believe your concerns echo those of many, particularly given the current state of the economy. Here are some suggestions that you may find beneficial in seeking additional income or productivity during a recession: Investments: Investing in stocks, bonds, real estate, or commodities can be a productive strategy even in a down economy. You might consider defensive stocks, for example, which belong to companies providing essential services that people use regardless of the economy's condition. Keep in mind, however, that investing does come with risks, so it's important to thoroughly research and consider seeking advice from a financial advisor. Skill-Based Freelancing: If you possess certain specialized skills, such as graphic design, writing, programming, or teaching, you can offer your services on freelancing platforms. In tough economic times, many companies turn to freelancers to cut costs, which can work to your advantage. Online Selling: Selling products online, either through established platforms like eBay, Etsy, or Amazon, or by setting up your own eCommerce website, can be a promising income source. Consider selling items that remain in high demand during economic downturns. Cost-Cutting Measures: This might not be directly related to generating income, but effectively managing your expenses can have the same net effect. Evaluate your spending habits, and identify areas where you can save. Pursuing a Side Hustle: This could be anything from dog walking to tutoring to driving for a rideshare company. Find something that fits your skills and schedule. Online Learning and Upskilling: Economic downturns often lead to job market shifts, so it's a good time to learn new skills or improve existing ones. There are plenty of online courses available that can help you remain competitive in your current job or potentially pivot into a new area. These are just a few ways to generate income or remain productive during a recession. Each has its own potential benefits and drawbacks, so it's essential to consider your unique circumstances and resources when choosing which methods to pursue. Stay positive, and remember that while recessions bring challenges, they also bring opportunities. It's important to continue investing in yourself and your abilities, regardless of the state of the economy.

Hi there and welcome to the Forum :-) I think you're on the right track get some experience under your belt and start a company however nowhere where you intern working for someone else as an intern in engineering will they teach you how to start your own business. You will most likely need to create your business and then ask questions during your internship on how to scale your business and what worked for them and what didn't. Because businesses are selfish, they don't want to breed competitors ;)

Hi there and welcome to the forum, I would first ask yourself what kind of work could you do for the next 6 to 10 months day and day out. Once you figure that out then you can say okay how can I make money with this type of work. Then invest time money and effort into doing that I know it's not a direct answer however it is the best one that I can give you at this time. Also flipping small things like video games shirts clothing Etc that you may get from Goodwill or something may help really quickly to make some quick cash

Hi Arian, So many people want people to go to school but the truth is if you really want to be an entrepreneur you should learn skills from school such as how to deal with people and such however do not make the assumption that you will learn how to become a successful entrepreneur just because you go to school. Most people who teach and higher education have no business giving advice to entrepreneurs. It's sad to say but it is true. Also I recently saw an Instagram post, which really led me to emphasize what I have known this whole time being a successful entrepreneur is that follow your growth and efforts do not necessarily Follow Your Passion because you're passion can burn out and change over time but if you follow your efforts they will always persist over time. As far as just because you got a two-year scholarship which I think is great I would focus that 2-year scholarship on learning specific things to become an entrepreneur and not just do a degree. I hope this helps

Hiya Christopher! I would first heavily look at what you are selling to determine the way to market, is it food or a house? Selling 100 sandwiches would be totally different than houses. But lets say for argument sake, your selling sandwiches People buy food or like products with their eyes, and their nose, first and formost. So presenting food with great aesthetics and a great smell for passerby's would be great. This does not change much for E-commerce either, but with one caveat. Selling a product online people see with their eyes as well, so presenting the product in a great light is cruical. But instead of smell for passerbys, you will need reviews, testimonials, and other aspects of a 3rd party (or sense) to be successful. Now when it comes growing your first 100 sites on your OWN ecommerce site. There are many ways to do this, for example your products on your site must be unique in 3 areas of choice. Is it better priced than others? Is it the only place to buy your item? exclusivity? It is a place where multiple people can sell on it? Lets start there and then ill add more :) Have a great day!

You really have to think about how much you're willing to lose because with 8K if that's all I had I would take 4K right now and buy up many things that I could resell I'd buy a cheap car repair it or I'd buy some heavy equipment to then resell or to use to make more money. It also depends on how long it took you to make the 8k. Versus what you can do with a portion of it to make more money, if you're willing to take the risk. I have money in stocks and such, but it's gonna be a up and down ride or a min lol

I think that the fed keeps raising their rates for some other reasons other than what they're telling us. However I could tell you right now as a business owner I could get a business loan for about four or five percent which made it totally make sense to get a loan. But now it's like 10%, it's brutal High for a business. Which doesn't even make sense to take the loan out. There are tons of banks now approaching me trying to basically sell me loans because now tons of other people are not wanting loans so I think with the Third Bank that just failed there is going to be a lot more issues than many people think. We are unfortunately going to be hit hard with a lot of economic problems. But there is a great chance for opportunity in any market. I might become a hard money lender actually LOL it would be cheaper than the FED rates at this point LOL.

Hiya Jason welcome to the Forum!! So I totally know what you mean.... I get this all the time when people want to work with me and some of my friends. The biggest thing is that the hustle IS a great quality! The challenge is that when we hustle we hustle hard for a specific, direct purpose. Typically what a lot of us ICONs have run across is that we are grinding making this happen, and then people want to join the grind. But when they do so they tend to want to lead and not follow for a time... its only after you learn to follow, that you can truly lead... In a nut shell, help and truly believe in those you want to be around, and we will eventually* return the favor. Hope this helps Jason!

Dang I'm not exactly sure that really would be good for a business Forum however encryption all depends on what you're trying to do are you trying to mess around with FDIC compliance or HIPAA or some other sec compliance? :)

I agree :-) the coolest thing about fear is that you're always scared s******* before you do something but it's only after you do something that you're afraid of that you really learn and grow and scale :-).

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Hey Tyler Welcome to The Forum :-) so just to add on what Adel and Christopher had mentioned, find something that you can resell for cheaper than what someone can offer it to another person. Even what you're doing right now by delivering and stocking shelves I'm sure you can find a way to get someone to do it cheaper than you can find someone to pay you to do it for. Keep that in mind :)

Hiya Majd! Welcome! :) your part of the collective now! :) As far as stocks, and just building on what Christopher said, stocks are very fickle kind of thing are you talking about specific stocks and individual companies or mutual funds ETFs indexes etc? So there's a lot of gurus like Christopher was saying but the biggest thing that I've learned to generate a good amount of money with stocks and ETFs and indexes and such. Is really just a jump in there learn everything you can about the stock and what it is or what it does and doesn't do meaning if it's an index fund that tracks 10 companies you need to do all the research on those 10 companies understand the markets they're in and understand whether or not they have an opportunity to raise money or lose money. Don't just buy a stock or Index Fund based on what somebody says you have to do your research. I personally am invested in a couple of stocks because I did all the research and I know they will go up and they have gone up, I.E Boeing. Have you ever purchased any stocks before and what platform are you Trading on? Only because I use Schwab is why I'm asking so I can guide you on that platform. Love the questions and love the team work Chris! 👏

Hiya Adel! I agree! Being selfish, = selfless.... You can NOT do everyone favors when you start a business, as this does nothing to help you grow. Another point is that you must focus on you and your product, with most people will see as selfish.... that is not the case :) Your crushing it Adel!

Hey Hey! Welcome to the FAM ADAM! :) So some quick side hustles.... First have the money to buy things others want. Look around you place and sell anything you don't need. Take that money to buy things people want, a perfect place is like goodwill and thrift stores. I have a friend that successfully does this. She buys up name brand clothes from goodwill in highend neighborhoods, then resells them on ebay and does very well. Next side hustle would be buying things cheaply from Facebook, then reselling them again in a different place, for a different price. If your working 80-90 hours, bro you should flip cars, buy low, fix and sell man....Or strip parts from cars (Legally) and then resell online. :) Hope this helps Adam! :D

Hi there Christopher, I just want to preface that I am not a legal professional however. However it's always wise to start an LLC with a specific name, and I'm sure you already know this but you cannot pick a name that is the same as another name in the state you're filing it in. As well as trademarking your name? Is that what you meant? It's really already secured with the state of secretary filing. But yes you could trade mark your name or register and brand it sure but I wouldn't recommend that it takes a lot of time and effort and you really only have to do that once you're really starting to grow and scale in my opinion. As far as your money yes once you have your state filing LLC, and a EIN number from the IRS, very easy to get, then you should open up 3 accounts. Again these are just my opinions and not any kind of legal or tax advice. One account should be your checking of what you intend to pay everyone out of, the other should be a income account where you want to get paid into and do not mix the two. For example do not pay out of your income and collect income out of your expense. Your last should be a savings account that is tied to nothing but savings. Love the questions Christopher! We are the Collective! And we got eachothers back in this business and entrepreneurship life!

Agreed! The hard thing is that, if you want people to afford housing, subsidize it with other programs, not having other people shoulder the burden, isnt that socialism? :|

Hiya Jamo! Welcome to the forum! My number ONE problem, when I have started businesses, is understanding the core value you are going to bring with you business to others. Without understanding that, you will struggle with literally everything, pricing, positioning in the market, discussioins with others, etc. Most people think finances are the hardest thing, thats actually the easiest.... Finding your Value in your business, and having others see that value, is your biggest hurdle, and greatest strength :). What value are you bringing with your photography? :)

Get ready to buy! lol