Will I Get Fired? What to Do Before the Axeman Comes

Will I get fired? Tons of people are asking just that very question as we speak, and with good reason. Many industries right now are facing the most severe downturn they've ever experienced. Many managers for the first time are facing levels of uncertainty they never thought they'd see in their lifetimes. That is the reality of the world and US economy circa 2009.

So here's the rub... you know times are tough, and there are layoffs happening all around you. What can you do to either survive the downturn where you are or come out of the downturn with new income opportunities. I'll let you in on a little secret as to what I'm doing: everything I can think of.

Here's how I'm managing my own personal panic in the present downturn. Some of these strategies may appeal to you. Some may simply be way over your head. What you do need to take away from this is that the biggest asset you have is you and your own creativity. You can create your own reality both for today and for the long term. Here are several income producing strategies I am using to keep motivated and improve my skills at the same time, in order of effectiveness at producing income.

1. Day trading options. This honestly requires a cast iron belly, a high appetite for risk, and at least $10,000 to open an options trading account. The reward can be immediate and significant cash income. I have made enough to pay for an expensive surgery this year, having capitalized on market weakness to sock away some huge gains.... I'm sure I'll be chatting up the IRS before too long.

2. Starting My Own Simple Internet Business - This one without a doubt is the most fun. I spend significant amounts of time writing about whatever comes to mind (such as this column) and I get paid to do it. No I'm not making millions of dollars doing this but it allows me to express myself and learn about what people really find valuable in this world. This nets me a few dollars a day with the opportunity to grow into a much larger and perpetual income generating business. Did I mention how much fun it is?

3. Marketing and Shameless Self-Promotion - Have you ever thought to yourself, "Geez I did a ton of work making this project work but Jonny over there is getting all the credit"? Does that happen to you a lot? You aren't marketing yourself effectively to the right people. Right now upper management folks are looking for heads to cut, and a well placed word casually spoken to the right upper manager right now can get you on the 'keeper' list while your credit stealing competitors find themselves out in the cold. Start building those 'outside the loop' networking relationships right now and your sure to do better than your peers - even though they might be 'buddy-buddy' with you immediate supervisor. This sort of marketing is free.

4. Start Increasing Your Skill Set - Pick one of the top future jobs. If you're in one of the industries where it is likely your job will be cut, take advantage of the time you have remaining to re-tool your skillset and jump into one of the best future jobs fields. You could also take a chance and jump into one of the emerging (but small labor force) hot future jobs. There aren't as many positions available but because of the newness of the fields competition is also likely to be smaller and more training will be available.

5. Writing a Cover Letter and Resume - Get your stuff together now while you still have a job and use the time and income you have coming in to start marketing yourself through friends, relatives and former co-workers. Get your references in order. Be already on the move before the axe starts to swing.

I really hope things work out for you. Remember, if you're asking yourself "will I get fired?" then you already need to be taking steps to move forward. Then when you've got a new job and new sources of income you can fire yourself without having to worry about the consequences.