What’s a Plan B and Why do I Need One?

First off, what IS a Plan B?  According to Wikipedia:

Plan B typically refers to a contingency plan, a plan devised for an outcome other than in the expected plan.

Plan B may also refer to: Plan B, a brand name of levonorgestrel, an emergency contraception drug.  Wikipedia

I am NOT going to talk about contraceptives here, so let’s go with the contingency plan.  And a bit more research on Wikipedia:

A contingency plan is a plan devised for an outcome other than in the usual (expected) plan.  It is often used for risk management for an exceptional risk that, though unlikely, would have catastrophic consequences. Contingency plans are often devised by governments or businesses.  During times of crisis, contingency plans are often developed to explore and prepare for any eventuality. During the Cold War, many governments made contingency plans to protect themselves and their citizens from nuclear attack.  Today there are still contingency plans in place to deal with terrorist attacks or other catastrophes.  Wikipedia

And what does that have to do with you, you may ask?  Well, you could say that the events of 2020 are “other than the expected” what with Covid-19 and all.  How many people do you know who were laid off, either temporarily or permanently.  How many businesses closed their doors forever?

But even in the best of times, it is wise to have a contingency plan, or Plan B.  After all, you never know what might come along in the future (or can you?).

Success in life is defined by how well you deal with Plan B.  Marilu Henner

Okay, so why should everyone have a Plan B?  Here are a few reasons:

1. If extra money sounds good to you, your Plan B could help you get some.
2. Wouldn’t it be great to keep your mind fresh by learning some new skills?
3. How about earning tax benefits just by having one of those side hustles?  Remember that many of your expenses can be tax deductible! (Shameless plug here for you to download the Tax Savings Secrets report on the right)
4. Do you love your job?  If your answer is YES, that’s great, you can still have a side business to make your off-time more productive.  Or if the answer is NO, how about a way to transition out of that without quitting just yet.  Yes, you CAN replace your income by working from home!
5. Getting ready to retire?  I am a big proponent to planning in advance, not just for the financial aspect, though that is super important.  But how about having something meaningful to do, like a career after your career – one that can be as part-time as you like.  One where you can be in service to others and get rewarded for that service!
6. Ever want to contribute or be of service?  I love that with my home business I can help others in many ways.  I can use the extra income to contribute to charity, I can work with charities directly, and I can help others to join me and earn money too.

And what would a Plan B look like for you?

1. It could be something you can sell on ETSY if you are creative.  I am creative, but not in that way, lol.
2. It could be a service that you market, like organizing for people, or consulting, or doing errands for others.
3. Want to be an Uber driver?  Or maybe you have a spare room you could rent on Airbnb.
4. Do you have lots of money and time to put into a project?  Maybe you have always dreamed of having a franchise.  Tim Horton’s or Starbucks?  That takes a lot of commitment (plus plenty of time and money), but can be very successful.
5. My vehicle of choice is Network Marketing, and I realize this is not for everyone.  But you may want to give it some thought.  For a minimum investment of time and money, you can be on your way to earning a good-sized monthly income.  One that is based on the values of being friendly, sharing, and helping others.  Here is a thought.  “Most people DO Network Marketing every day, they just don’t get paid for it.”  Tom ‘Big Al’ Schreiter is famous for that nugget of wisdom.  And it is true!  Have you ever recommended a restaurant, a babysitter, a tax preparer, or a handyman?  And was your friend grateful for the recommendation?  And … did you get paid?  Well, Network Marketing is a lot like recommending anything else, except we get paid for it!!

And what are the next steps to take?

1. Make a decision.  Decide that you want MORE out of life.  Then decide what it is you want, and what your vehicle might be.  (Okay, that’s a few decisions, but decisions are super important!)
2. Get the right information.  If you want to check out Network Marketing, I would love to chat with you.  My company might not be right for you, but I would love to have a conversation to help you find out.
3. Take the plunge.  Once you have decided to make a change, and have some information about getting started, you need to take DO SOMETHING to move forward!  Progress is all about doing something, even something small, over and over again.

Great, you are now ready for YOUR PLAN B – go for it!  Maybe today’s Plan B will become tomorrow’s Plan A, one in which you are doing what you love, being rewarded financially for it; and being free to do the things you want to do, spend time with the people you want to spend time with, and yes, even pay less in taxes:)