So for example, if you are a marketing professional you can secure your future prospects through freelancing. You can work in an MNC and dedicate your spare time to explore freelancing options. In this way you will have a back up plan to fall upon incase you end up losing your job.
Diversification will also bring you extra income and you will bail yourself out when you are in dire need of extra cash. But the point is how can you effectively diversify your skills? First and foremost, a fair amount of research is needed here. You must explore the possibilities and its outcomes. If you are an IT professional try to find out some sites that can help you get freelance projects or else you can develop your own contacts through interactions. In this way you can have a parallel and steady source of income.
If you plan properly, success is not hard to achieve. Try to figure out how much time you are willing to dedicate to start freelancing. Try to allot sufficient time for acquiring clients and delivering projects. Also if you are working on multiple projects you must maintain records of all monetary transactions like infrastructure investments if any and also track payments regularly. You must work towards establishing credibility for yourself in the market and in this way there will be no dearth of projects. Credibility can only be achieved if you remain true to your words and deliver quality work on time and keep your rates reasonable. So start the process of diversification and recession woes will abate.