A Back Up Plan

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Podcast Series Episode

Podcast Transcript:

This podcast, entitled A BACK UP PLAN, is dedicated to my Rabbi, Rabbi Yitzchok Lowenbraun who taught me to always dream big. Through his life experiences, he installed in me the value of having a backup plan, which is just one thing that comes back to me on the second anniversary of his passing away, his students and family miss him so much.

Joe just lost his job after 35 years.  His wife and kids started to panic but not Joe.  Due to some wise advice Joe was prepared. A few years ago, Joe started a consulting business as a side hustle.  He started advising clients with histories of various health issues how to prevent expensive medical bills for their families down the road by making a few small shifts to remove toxins and poisons from their homes now.  Joe had a plan B in place and did not skip a beat as he just shifted from a side hustle to full time as his own boss.

Professional Space Work

As a professional in the space of working with nonprofit organizations that help others, I run into the following situation all too often.  The head of a nonprofit who is also quite often the founder dedicates their life to helping others but ignores their own needs and then a tragedy strikes, or an important donor decides a change is needed and the person who helped everyone else now has no one to help them.

I’ve also coached many leaders in the same space who were not founders or directors and found that although they loved helping others, as their families grew they could not afford basic life expenses on a non profit salary and when they were at the top of their game they had to leave their career and enter the for profit world in order to give their families the life style they wanted to.  Just think of all the good these superstars could have accomplished if only they had dedicated a tithe of their time (since many of these dedicated individuals work day and night let’s call it one day or 8 hours per week) to another lucrative income stream so that they could continue to do what they love and support their growing families.

Their organizations and the entire world would be a much better place if organizations did not need to start over from scratch and lose their most talented employees because they can’t afford to pay them enough.

I know paying teachers, counselors, relief workers, health professionals and clergy at the same rate as high powered business people flies in the face of the traditional business model of sales and profits; but, if we can’t fix the system and I’m not saying we shouldn’t, each of us can set up a side income for ourselves so we can continue to help make this world a better place for many years to come.

I know, you are probably saying that you can’t find one extra hour in a week let alone 8; but, if you don’t put your families needs first you will burn out especially as the bills and the debts get larger and larger!

By putting your family first, making some extra income, saving money for emergencies and maybe being able to say yes to your wife and kids sometimes you will have the peace of mind to do a better job in the hours you do your holy work.  You will also be able to continue helping others for as long as you want as a “full time” professional.

Don’t think of it as taking time away from your mission or your calling.  Think of these 8 hours as a way to be even more effective and actually as important for your mission as any other activity.  It is very important to realize it is very hard to help others if you can’t even help yourself!

You may be asking, how do I identify ways to take that time and not waste it.  I need to make sure that the path I choose succeeds and isn’t a waste of time and money.

Important question! 

There are many paths to an extra income and many are not viable for you or even for most.  The first step is to identify your personal strengths so you work in an area that you have the best chance to succeed.  You can do this on your own, by talking with friends and family or by utilizing a mentor or a coach.

In future episodes we will discuss ways to identify our strengths and find a path towards choosing a plan B that works to those strengths.

The second step is to find others who have done what you want to do and ask them to mentor you.  Success leaves clues.  Follow the clues by learning from how others in a similar situation succeeded already.

I have colleagues and clients who have become life coaches, started side businesses, learned investing, real estate and many more.

I look forward to hearing from you about what path you choose and how you have made it succeed.  The amazing value that this will bring to your continued efforts for your cause is of infinite value!

The Rabbi Who Got Rich On Sunday!

2 Responses

  1. Hi David, that sounded really good. Thank you for thinking of us and sharing your information. We look forward for more.

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