Starting a Business Takes More…
If you are one of the 15-20 million unemployed (depending on the statistics you read) or one of the 42 million Americans collecting food stamps, what are your options now that the last of the 99′ers will be hitting the proverbial wall for unemployment compensation? Seriously… There are no sustainable jobs for the unemployed. The employment quandary in which we find ourselves is it is simply cheaper for employers to hire (whenever they decide to do so again) right out of schools – whether undergrad or graduate. The consensus for employers hiring the currently unemployed appears to be the idea that these masses will eventually leave as soon as the economy begins to recovery at all. Therefore, why should U.S. corporations waste the resources on hiring experienced professionals that still remember the days of being paid their “value”, given their respective talents and skills? For employers, I must imagine the prospect of hiring desperate job seekers with loads for relevant experience for 30% less than what would have been paid for the same resource three years ago is still pretty tempting.
Sadly, our persistently troubled economy has altered lifestyle expectations for all of us; but more so for those leaving school that have not yet earned a living. These individuals and future professionals of tomorrow have only a conceptual reference to the average salaries and wages earned by people in this country during the boom years, so employers (rightly so) have scaled administrative salaries and wages accordingly, in order to match expectations. The philosophy must be “why pay more than you have to for anything”, even if it is for people? That is just basic business economics, if you ask me.
So to the question of what are our options? The only option with any real viability in the economy ahead, unless you don’t mind continuing to work in jobs you hate, is to start your own business. However, if you know nothing else, you know starting a business always takes more than you initially think or plan – more effort, more capital, more time… more everything. But what does this mean for the Boomeranger? Considering our circumstances, we have less of everything. In order to succeed on the entrepreneurial path, we must be more creative and more resourceful while juggling the family, responsibilities and the pursuit of opportunities that will once again allow us to move forward…
When you approach the crossroads to either become an entrepreneur or wait for the economy to recover for career prospects, think carefully about whether or not you have the stomach for entrepreneurship. The most significant challenges you will face as a Boomeranger newly encouraged by the promise of economic independence and autonomy will have little to do with executing tasks associated with starting a business. That will be relatively clear. Most challenges will concern finding enough time in the day to get everything done.
For instance, on days our kids are not in school, we spend them primarily entertaining the kids in shifts. I generally take the morning and Eric watches them in the afternoon. Although not at the same time (unless they are napping), we are both able to be productive at some point during the day. Still, the most frustrating distractions come at night, after bedtime. Recently, we were preparing some “Slipped” t-shirts for orders to be shipped the next day, but ten minutes into what hoped to be a productive evening, our daughter gets up for water. Five minutes later it was “I have to use the potty.” Twenty minutes after that it was “I’m scared. Please check my closet.” But what can you do other than move forward, and continue to commit yourself to the pursuit.
Comments (4)
You have an excellent point. I knew and expected my journey to be hard with developing a ministry (entrepreneurship), but never this hard. Distractions abound, not to mention often times people look at you as if something is wrong with me for not giving up the pursuit.
The economy of the 1990’s and early 2000’s is gone. Corporations amazingly are back to earning record profits without a large labor force. This can be translated as we will all have to create our own enterprises, benefits (retirement, health, dental…)
-Be Empowered
Rev. Carlton Worthen
http://www.CarltonWorthen.BlogSpot.com
When you set out as an entrepreneur launching a new endeavor, always add 10-20% to your intended start-up costs and time for launch. You will be amazed at how much frustration you will avoid by simply planning for the “disappointment” and “delays”.
We are naturally inclined to become seriously discouraged when things do not work to plan, which may in some cases result in our abandonment of the whole project/business. We like to call these “signs” that we were never meant to succeed in that venture. When in fact, you could probably argue the opposite is true.
Trials and obstacles (as cliche as it sounds) create opportunities to vastly improve the product, content or service to be offered. Stay focused and never stop until you have achieved your project or business goals.
You have made great comments on the very unique economic situation that exists today. Sometimes the things we see as hardships will propel us to the victory which often eludes us because we believe the circumstances ‘will change for the better.’ There are many great minds and talents unemployed or under-employed. Those who refuse to ‘give up’ and ‘throw in the towel’, will lead the way for others who need to remember that quitters never win and winners never quit ever seeking new answers and pathways for success. Big corporations are a product of greed and ill-conceived idealism that has no concern or room for the individual; and, so the individual must recognize and address the priorities which have been forgotten and/or dismissed by the wealthy. We still need humanity and community. How can each of us pursue and incorporate these basic ideals necessary insure everyone is a part of the workforce? Let’s not be like the Israelites out of Egypt wandering for 40 years as a result of not seeing this as a great opportunity to enter the promised land. It is still awaiting our arrival.
Thank you for your comment, but I would not say that all large corporations are formed by greed and deter individualism. Although some corporations are not as dominated by individualism and the incorporation free thought implementation, it is largely a function of operating efficiently.
On the other hand, many largely companies, such as Google, Facebook, Intel and Cisco, have developed their operating models that encourage and cultivate that talents of the individual. But even in these companies there must be structure around how and these individual ideas and contributions are implemented according to the broader corporate objectives. Therefore, plans deferred are not necessarily plans denied.