I received a breaking-news alert from the New York Times the other morning, announcing the numbers on employment for the month of August. Bad news indeed, but what is more disconcerting, is the number of people who stopped looking for work during the month—thus lowering the unemployment rate. (I know—it makes no sense.)
Also, according to the Times, the percentage of the U.S. population in the labor force fell to 63.5 percent … the lowest level since September 1981. The article pointed out that we now have 88.9 million working age adults not in the work force at all.
Well, it is not a simple problem, and there is no simple solution.
On the other hand, it is encouraging to see approximately 6.5 million people starting new businesses each year (Kauffman Index). That should put a bit of a dent in the number of people without jobs today.
If you are one of the 88.9 million who have given up on the American dream, you might want to consider trying the adventure of entrepreneurship. It doesn’t take as much money as you might think, and you don’t have to have an MBA to start a business—in fact, you’re better off without it.
With a lot of thinking, some self-education, and enough determination—anyone can start some kind of business.
Oh sure, it’s not easy to start and build a business today. Starting a business is tough at best, but that is all the more reason to carefully prepare yourself before opening your doors, or taking on that first client.
Think it through carefully, and plan well—then do it over again. The failure rate for new businesses is quite high, so I would strongly encourage you to do all your homework before you spend any of your savings, or borrow money from your family and friends.
There is a tremendous amount of information on the Internet today that can help you get started. Just be careful what you believe … there are no get-rich-quick schemes that work—regardless of what you are told.
Use the Internet as a source for directing you to basic information that has been tried and proven reliable for all entrepreneurs, and beware of the scam artists.
If you aren’t sure where to start, you can begin with some of the information on this website. It is very basic stuff for the new or aspiring entrepreneur, and it provides suggestions for moving to more advanced sources of business information, as you need it.
So, if you’re one of the 88.9 million, or one of the active unemployed, why not give some serious thought to entrepreneurship? It could be the smartest thing you ever did.
Does anyone have any other suggestions for people who may be considering starting a business, but who aren’t quite sure about the process … or the outcome?