Have you ever wondered what happened to long-term job security?
In today’s tumultuous job landscape, traditional jobs are becoming a thing of the past.
Companies can downsize at any time, leaving employees redundant. Or they hire part-time and subcontract workers to scale their businesses according to the market. Employee hours are reduced or eliminated. Technology replaces workers by doing their tasks for them. And jobs are becoming performance based with lower base wages and performance incentives.
Here’s the good news: If you think now is a good time to start your own business, you’re not alone. The number of small businesses has increased significantly in recent years. Entrepreneurship allows people to take charge of their income, work choices, and productivity. They can create their own lifestyle. They can even share their resources to influence social change.
Adapting to Change
One of the best ways to manage your work life is to adapt to changes by moving toward better options.
In the parable Who Moved My Cheese? An A-Mazing Way to Deal with Change in Your Work and in Your Life, Spencer Johnson, M.D. describes how two mice and two humans living in a maze adapt when their supply of cheese begins to diminish. The mice—and one human—accept this reality and go in search of more cheese. The mice, unlike the humans, do not worry about leaving their routine or fearing the unknown. They simply search for what they need, and they thrive because of their adaptability.
When you adapt to change, your life becomes easier and more enjoyable. You will learn to surge ahead and find better opportunities. At first, you might feel uncomfortable leaving behind your familiar routine. But in the long run, your work life will flourish.
As the author notes, “It’s a lot better to initiate change while you can than it is to try and react and adjust to it. Maybe we should move our own Cheese.”
Risking the unknown allows you to enjoy the benefits of better possibilities. Those unwilling to take risks will keep trying to make the status quo work, to no avail.
An Entrepreneurial Mindset
Risk exists in entrepreneurship, of course. You’ll spend countless hours creating your business and face the potential threat of failure.
What’s the biggest risk by far? Giving up on a dream because you’re afraid to fail. Regretting later that you didn’t follow your desire is far worse in the long run.
Like anything of great value, building a business takes focused effort and time. Creating a business can be tough. You can’t decide to become an entrepreneur and then sit on the couch expecting it to happen.
Instead, you can learn to navigate the risks. You’ll reduce uncertainty and increase productivity.
Successful entrepreneurs know that working smarter means:
1. Self-education is key. It’s the most valuable tool for changing from an employee mindset to an entrepreneurial one. Many entrepreneurs share their knowledge and experience through online resources. Webinars, tutorials, blogs, and podcasts help answer questions and provide guidance. As the entrepreneur Jim Rohn said, “Formal education will make you a living; self-education will make you a fortune.”
2. Changing your thoughts will change your outcome. Do you believe only certain types of people can start their own business, such as rich people or people with good connections? Or that stepping out on your own is not a good idea in the current market? If so, it’s easy to shut down your dreams. Flip that mindset to a more productive one. Believe that anyone can learn how to start and market a business. Then take actionable steps toward success.
3. Getting out of your comfort zone and taking action will increase opportunities and income. It’s easy to stay in your comfort zone, but you’ll never grow if you do. Entrepreneurship is about learning to embrace change and growth. The only way to grow is by taking action and seeing what opportunities come from it. Even taking small steps will make a difference in whether your business soars or falters.
Innovative Business Models
Besides adopting a strong mindset, you can reduce risk by getting feedback. Take small steps to test your idea in the market. With the expanding reach of the internet and social media, “there has never been a better time to market a small business. Ever,” says entrepreneur Tim Reid in his popular podcast, Small Business, Big Marketing.
Millions of people have started part-time side businesses to get a feel for entrepreneurship. According to a survey by Infusionsoft, side gigs offer more independence, greater income, and valued work. People also liked the fact that side gigs help them impact social change.
You might have to work from home on a side business in the hours before or after your current employment, but your time will be well spent. You’ll be growing a business you love while earning extra income. Plus, side gigs decrease the income gap risk that often occurs when starting a full-time business.
Franchise models are another option for starting a business. For example, Uber, Airbnb and eBay show people how to market a successful product with lower risk.
Benefits of Entrepreneurship
Entrepreneurship can transform your life by giving it purpose and meaning. Your home based business can transform others’ lives, too, including your family, customers, suppliers, and employees.
Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it’s the only thing that ever has. Margaret Mead As an entrepreneur, you have many ways to influence social change. You could support local causes, fund global research, or start an innovative nonprofit.
In this digital age, there are no boundaries to the ways you can express yourself on the global stage.
Creating your own home based business means you can:
• Be your own boss
• Have the freedom to create the lifestyle that you love
• Choose work that you’re passionate about
• Provide value to others and making a difference in the world
• Have more flexibility in how and where to work
• Create a higher income
• Express yourself creatively
• Choose new projects and develop business in new directions
• Leverage time and money to create more of each
• Influence social change
• Reach a higher level of personal growth
Entrepreneurship can be exciting and worthwhile. It could also be the solution you’re looking for in this unstable job market. And with all the resources available to market a business, you’ll have the help you need to succeed.
If you’re looking for a business with a low start-up cost that you can start part-time while still in your job and create a fulltime income, click here.