In a shifting and changing economic landscape employment is not such a secure strategy. Risk is a relative term that is often applied to entrepreneurship or self-employment. But that grew out of a context where labor unions were strong and growing. The idea of job security was more than a bad joke. Many large employers offered substantial benefits.
Those days are gone.
The Real Economic Risk
The economic reality we face is that the trend in large corporations has been toward off-shoring and outsourcing labor. The drive for quarterly returns makes their decision-making short-sighted. Long-term visions are only an illusion in that context.
Most of us cannot afford to hang our dreams on such illusions. The truth is there are very few corporate jobs and they are much more INSECURE than we used to believe them to be. We have to create our own stability and security.
It takes more work, some confidence, and solid information to create your own stability. But pursuing your own vision is well worth the challenge.
Welcome to the world of entrepreneurs!
Being an entrepreneur does not require that you invent anything wildly unique, necessarily. You do not have to be an engineering genius, or a master chef, or even do everything on your own! You can ask others for and get help from others. You could even form a cooperative business model.
The only limitations on going into business are the limits of your imagination, and, perhaps, the laws of your locality.
What is required is a lot of reflection, self-assessment and analysis. You have to look within as much as you look at the data in your market; maybe even more than you look at outside information.
Entrepreneurism requires the courage of your convictions. You have to be strong enough to keep going when you hit the inevitable bumps in the road.
Why Not Start Small?
On the other hand, you do not have to go all in right away. It is not necessary to quit your job to get started. It may be wiser not to, until you reach the point of consistently replacing that income.
However, if you have a lump sum that you can fund your lifestyle and your startup with, it may build momentum faster because you can focus more time and energy into getting it going. Building slowly has the advantage of not straining your capacity to fulfill your obligations to your customers, one reason some businesses fail.
My next post is going to discuss some resources you can use to help you pursue your passions.
Questions? Thoughts? Suggestions? Feedback? Please comment below!