By Dr. Christine Manukyan, founder and CEO of STORRIE Institute.
No matter how many times we enter into a recession, there will always be the fear of the unknown surrounding it. However, there is no need for you as a clinician to be caught in the back end of this turbulent economy.
Here are three ways that you can add revenue in addition to your active income so that you’re protected and prepared for any economic changes.
Identify an outside skill that you have and start charging for it.
What better time to capitalize on a side hustle than now? Even if you’ve been operating in a specific clinical field for decades, there is sure to be a skill that you can monetize in your free time.
For example, if you enjoy reading and writing, become a freelance medical writer.
If you have a creative eye and enjoy design, consider becoming a freelance graphic designer to support other entrepreneurs in the medical space.
Your clinical background is the asset that will establish your trust and credibility with future clients–and your outside skill can be the factor that secures the deal.
Freelancing network websites such as Upwork are a great place to start when finding new projects to take on. You can also use your personal network and pitch your skills to other clinicians who are in need of your services.
Turn your passion for health and wellness into a group challenge and start charging for your knowledge.
In times of economic uncertainty, it’s important for peers and colleagues to stick together. So why not capitalize on it?
For example, let’s say you are passionate about boosting immunity and preparing your body for flu season. You can create a two-week challenge where you give tips and resources on how to boost your immune system. Your teachings can include immunity-boosting supplements and biology hacks that properly prepare your clients’ bodies for any seasonal illnesses that come their way.
You can open this challenge up to fellow clinicians, and your patients and even market to a wider audience by making it a virtual class.
Creating a Facebook Group and email listserv are great ways to make your clients feel like they are being continually educated and nourished by your teachings.
Generate additional income by becoming an affiliate marketer for products that you already use and love.
As a clinician, you have certain health and wellness products that you recommend to your patients solely because they are high-quality and effective. Why not profit off of your recommendations?
You can reach out to the product’s brand and ask to become an affiliate marketer for them. This is a great way to generate a passive income without putting forth any additional effort.
If you want to go a step further, bring your affiliate marketing to social media. Other medical brands will recognize your influence and request to do business with you for their affiliate products.
The bottom line is this: You don’t have to let the economic recession affect your clinical profession or your income.
There are many ways to generate additional income to protect yourself from economic turmoil. Use this opportunity to get ahead of the market and establish your leadership in your industry!