168: Making Money in a Crisis – Turning Lemons into Lemonade [Podcast]

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Making money in a crisis might sound counter-intuitive – but be clear that there is always an opportunity to serve. A crisis is no exception. So if you are willing to serve others and looking for ways to start making money in a crisis – you are in the right place.

But I know what you are thinking. Making money in a crisis is just plain greedy. Others need FREE help. Maybe – but before you judge too quickly, listen in.

Making Money in a Crisis (Podcast Outline)

• Money is NOT always the issue.  
  •  It is OK to charge people during a crisis.
  • Many have the means and want your help.
• There are unique opportunities while people working from home:
  • Babysitting
  • Pet care
  • Tutoring (any subject, any grade)
  • Helping those with health care needs – Diabetic or other issues
  • Food delivery
  • Errand running
  • Showing them how to use tools such as Zoom etc. – Art teacher could not use virtual tools, so had to cancel classes. 
  • Setting up in house workstations – computers, desks, etc. (VPN is a term some are hearing for the first time)
  • Assembling things they bought to work from home
  • Home gym setup
  • Fitness coaching at home or over the web
  • Someone to talk to
  • Elderly care new high when people cannot getaway
  • Working for Amazon / UPS / etc
• Think Long Term – What May Change for Good
  • Colleges will have more online courses and get more creative
  • Online tutoring will grow 
  • Homeschooling with grow
  • Work from home will grow
  • Personal finance and EF will be a hotter topic
  • Home ordering of supplies – Now we know
  • People will move away from JIT and minimalist to preppers
  • Buy American (or where you are) Things formally made in China will be able to make and sell at home
  • Drive through medicine! This may change the medical community more than any legislation ever could
  • Faster FDA approval of drugs
  • Freedom for doctors to practice without so many regulations
  • Growth in teledocs
• Perspectives
  • In 1929 investor Irvin Khan doubled his money. “The 107-Year Old Stock Picker.”  
  • Look at stocks 1 and 2 years out.  
  • Look 5 years and a different story.
  • 10 years even more
  • Entrepreneur mindset thrives regardless of circumstances. They are ALWAYS looking for trouble.
    • Episode 119: Developing an Entrepreneurial Mindset
  • Where there is trouble – frustration, fear, or pain – there is a way to serve.
  • Where there is a way to serve, there is a way to make money.  
    • Episode 132: How Being a Christian has Made Me Wealthy
    • Episode 158: Quit Believing Stupid Lies about Money and Wealth

Click here to listen now.

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Links mentioned in this episode:

• “The 107-Year Old Stock Picker.”
• Episode 119: Developing an Entrepreneurial Mindset
• Episode 132: How Being a Christian has Made Me Wealthy
• Episode 158: Quit Believing Stupid Lies about Money and Wealth
• Contact Dale Callahan
• Master of Engineering Management in Information Engineering and Management