Unemployed?—Try Entrepreneurship!

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?

2 thoughts on “Unemployed?—Try Entrepreneurship!

  1. Bob,

    In theory, this is a fantastic idea!! I think there are still enough people out there with “gumption” and “guts” that can certainly start a new business. Whether or not they succeed depends upon how much they can sacrifice and their diligence on staying the course. Starting a new business is a lot like walking on coals.

    My biggest concern is you have 1/2 of the population (liberal left) whose representative delegates at this years DNC believe we should BAN corporate profits or limit them.

    http://beforeitsnews.com/opinion-conservative/2012/09/dnc-delegates-want-to-ban-corporate-profits-peter-shiff-video-2476406.html

    Now, I’m sure their intent is for the large oil companies and corporations who tend to avoid paying any taxes while scooping out huge profits, but you can’t blanket “corporate profits should be banned” like that. It encompasses ALL corporations including small ones like mine and that is what makes some squirm (it’s the mentality that bothers us).

    If this is what is coming out of our colleges and being promoted to our young people, then having 44.5 million unemployed sheeple is nothing (The liberal left half of the reported 89 million). If you can make 70% of your prior wages on unemployment for 46-99 months, why look?? They will wait for the government (those of us who are still working) to take care of them.

    What this country needs is a new attitude, one of self reliance, not self promotion. One of “can do” not one of the nanny state. Where did American exceptionalism go?

    Perhaps your theory about this being the right time for some of those to start a business is right. Let’s “go for it” and the worst thing that can happen will be failure, but at least we try!!

    1. Steve—thank you for your comment. I looked at the video you suggested and find it appalling that so few people actually know anything at all about business. (Corporations should have losses)? It’s scary.

      Anyone can start a business in America—it is technically not that difficult. But, as you say, it is very hard work; “…a lot like walking on hot coals.” So, certainly, we need to rekindle America’s “can do” attitude, and I think one of the best ways to do that is to encourage more people to start small businesses—not just sit back and idly hope that the few big corporations we have left in America will start hiring some day.

      That is why I believe that now is a good a time to start a small business … people need to get up and do something for themselves. As you say in your comment “Let’s go for it.”

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