Start Your Own Business

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Recently I watched an interview with an electrician who had just been laid off.   He said “I am 50 who will hire me?” my reaction was – I will.  Why does he need to look for another corporate structure to allow  him to work?  Allow him now and fire him later as the only asset companies do not value is their employees.
Value yourself!  Hire yourself!  Consider opening your own  business.

Is this the right time?  Any time is the right time for the right business.  Not all businesses do badly in a recession.   Last recession chocolate stores did very well.   I observed at Valentine’s  Day 2009 that chocolate sales were up over last year.   Tropic vacations may not be selling but Bed and Breakfasts close to large cities may do well.
Organic pet foods and pet toys are still selling very well.

Is it frightening to start a business?  Of course but so is unemployment and working in a firm under threat of layoffs.

There will be pooh-poohers of all kinds.   Most do not know their assets from their elbows.   Be polite but ignore them.   Only listen to other entrepreneurs and professionals.
Our electrician for example will  hear  ”you are too old who will hire you?”.
Instead of feeling “small”  when faced with this antiquated and muddled logic he could cheerfully respond that he will be in his own business for at least 20 years and it will not take quite that long to wire their new dryer.   His age is an asset not a deterant to his level of service!

Is it risky to start a business?  Of course, but you are taking a risk on you not depending on a company.

Why would I hire the electrician?   He has decades of skill and experience, a work ethic from before the post millennium
“I’m not responsible economy”

and he has done more than the narrow range of trades work  common on cookie cutter housing developments.  My bias (reinforced by work just done on my home) tells me that he will be polite, able to form clear factual sentences when responding to my questions and will be considerate of my work time by showing up on the agreed upon day.

Please visit womenlikeme.ca and read the articles on starting your own business.
Entrepreneurship is the new security!

Layoffs

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Layoff is a terrifying word. Hard to have tactics or recession skills when everyone productive, lazy, pleasant, disruptive, experienced and novice are let go at the same time.
When the rumors begin should you leave? Give up a few more paychecks but beat the job rush?
Should you hang on and then be in the local job market with thousands of others with similar skills?
What if you leave and the layoffs never happen? You have lost all those years of seniority.

I do not have answers only suggestions. In many families both spouses work for the same company.  Talk about it and allow it to be a real possibility. Write down your fears on paper or screen. They are slightly smaller there than in your head. Negotiate with your terror. For each terror point write down the worst case at the bottom of the page and the best case at the top. Draw a line across the page at the level that you think is most likely to occur. Can you adapt to this level? Plan for this level.
Action is the best response to stress.

As I have mentioned earlier in the series you will come out of this with your values changed. You can decide what the effect of the changes will be in your life. For a clear look at our situation read Thomas Friedman’s book Hot, Flat, and Crowded. At the end he has this quote from Charles Bukowski
What matters most is how well you walk through the fire.

Related articles

Ecopreneurs to play a key role in Friedman’s “Hot, Flat, and Crowded”

How to Survive a Recession

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Another recession – been there, done that; couldn’t afford the T Shirt. If you can think of surviving a recession as a skill it may help to lower the small panic you feel after each frightening newscast. If this one comes to pass it will be my third. I am not happy about it but I think I am better at it.

I would like to offer this blog series as a how to for new business owners about to survive their first recession and as a refresher course for those with recession experience.

As an entrepreneurial speaker I have had a front row seat to watch how people react, who survives, who does well in a recession and what the major mistakes are.

In the early nineties the recession began just like this time. The economy had been very good giving people the idea that this was normal. People were affluent and used money instead of effort for everything. Houses were selling for sums way beyond their value following bidding wars. Forty-five per cent of all meals were eaten in restaurants.

Stories of layoffs in the news did not alarm middle class people as they thought of themselves as career people. Job instability was a traditional blue collar problem. The short amount of time it took for the recession to move from the front page to your front door was startling.

Many told me that business did not slow down; it just stopped. Store doors did not open; phones did not ring.

2008 has more potential for a rapid recession. The middle class has been under attack for a decade. The fallout from the mortgage horror has only just begun to bring a nuclear winter to the economy. Plus we appear to have a generation that does not know how to grocery shop or cook. The cashier in my food store often asks me to identify vegetables for her so she can look up its code.

Many do not prepare by changing their thinking to suit a leaner time.

The $600.00 handout in the US intended to save the floundering economy brought this reaction from one woman-
I will buy new summer clothes.

It reminded me of an interview from the last time with a young professional couple. They outlined their suffering this way-

“we have been forced to waste our time on comparison shopping and we have to re heel shoes rather than just getting new ones”.

I hope this series will make you solidly and comfortably prepared.

Here are the titles for the blogs for the next few weeks.

Have a staff planning meeting with yourself

The Two Biggest Mistakes

Tighten Your Belt -It Will Look Good

Looking Okay

How People React

Taking Care of the Company Asset -You!

The Bank

What Will Sell? Never Mind the Logic!

Handling Long Term Stress

Who Will Not Make It?

Your Image Make Cutting Back Cool

Dress for Success on no Budget

Sidewalk Advice

A Few Surprises