In a way I feel like I’ve been preparing to be an entrepreneur since I scored my job with a consulting company (I think this is because I read so many blogs as an intern/project assistant). But I’ve kept my job and nothing much happened – but I still have all my little draft business plans, and even a logo for myself. Am I halfway there? What about quitting a job to do it on your own?
I guess it depends on personal situation , and your particular sense of adventure. “Hitting the streets” seriously can’t be that easy. I would have price advantage (by a mile) over competitors, but not resource (admin) advantage.
This is truly a great post, Monica! This is exactly the kind of thing I’ve started doing. I realize that the only “job security” there is, is the security you create for yourself. People are getting far too caught up in the doom and gloom of today’s economy, and not seeing the huge benefits and opportunities!
Entrepreneurship is great, but some of us cling to jobs because we can’t survive more than a month without pay – some can’t even survive that. Entrepreneurship requires that you are able to pay yourself. And that is simply out of reach for many, especially the under-thirty set.
I think that our generation are recognizing the illusion of the security of employment, and we’re having the courage to explore entrepreneurship. I agree with your posts and I think the most risky thing people can do right now, in this recession, is NOT explore entrepreneurship. Even if you would prefer to be employed, it’s a good idea to explore possibilities for extra income or a plan B income, should you be retrenched. That way you give yourself options and agility, so you can thrive, no matter what’s going on around you.
I'm going to quit my job, stop paying my mortgage, and wait for my bail out. Someone talked about class struggle here and well lets dust off the guillotine and start chopping off the heads of the bourgeoisie. Hell didn't Hugo fidelity 401k Chavez nationalized his economy. Ops, I guess American history isn't all that important. Were does the breadline start.
I'm going to quit my job, stop paying my mortgage, and wait for my bail out. Someone talked about class struggle here and well lets dust off the guillotine and start chopping off the heads of the bourgeoisie. Hell didn't Hugo fidelity 401k Chavez nationalized his economy. Ops, I guess American history isn't all that important. Were does the breadline start.
I'm going to quit my job, stop paying my mortgage, and wait for my bail out. Someone talked about class struggle here and well lets dust off the guillotine and start chopping off the heads of the bourgeoisie. Hell didn't Hugo fidelity 401k Chavez nationalized his economy. Ops, I guess American history isn't all that important. Were does the breadline start.
I'm going to quit my job, stop paying my mortgage, and wait for my bail out. Someone talked about class struggle here and well lets dust off the guillotine and start chopping off the heads of the bourgeoisie. Hell didn't Hugo fidelity 401k Chavez nationalized his economy. Ops, I guess American history isn't all that important. Were does the breadline start.
I think of the halfway point as the 100% commitment to the business; the end goal is generally to build a successful business. So taking the first step is the halfway point. You’re definitely on the right track though.
I think quitting your consulting job to do it on your own is difficult. (Wait. That’s what I’m doing… yep, it’s hard .) In this economy I probably wouldn’t do it unless you have a lot of savings or a second stream of income built up. I’ve heard a good time to quit the full-time job is when you are making at least 50% of your current salary with your new venture. But who knows? I’m sure some people have done less.
And you’re right. “Hitting the streets” is way tougher than I made it out to be. But if you love networking and meeting new people it is fun. Also, price advantage isn’t always a sustainable competitive advantage. Generally, for consulting people like higher prices. Amazing, but true, at least in my experience!
Exactly. Corporate life is probably more risky at this point than entrepreneurship. Not that everyone in corporate should quit their jobs and start companies, by any means. Just that people with an entrepreneurial spirit should not be afraid to pursue their interests, even if they take it slow during the recession to flesh out their ideas.
I wholeheartedly agree. I don’t think people should quit their jobs or anything to become entrepreneurs, unless it’s their passion.
Though I actually think the under-thirty set is best positioned to try entrepreneurship. I think most people over thirty have a) already started a family, bought a house, etc, and don’t have the financial means to bootstrap, and b) if they do have the money, they are probably high-earners already in a corporate setting.
Of course, the counter-argument is that the over-thirty set has much more experience and expertise to start a company. So maybe you’re right?
Monica, this is the first time I have visited this site and I am very impressed. I am in Germany sitting next to your father and he suggested that I visit the site because I am an entrepreneurship as well. I was wondering if you ever read the book “Rich Dad, Poor Dad”, and if so, what are your thoughts about it? Also, I have a website but it doesn’t pop up right away when I use keywords in google. I understand that it is a “meta-data” issue. How do I make my meta-data better so that I get more hits on google? Is that something that you provide as a service? Sue
Monica O'Brien is the Director of Digital at Fizz and author of the book Social Pollination, which helps businesses leverage social media for crazy growth!
Monica O'Brien is the Director of Digital at Fizz and author of the book Social Pollination, which helps businesses leverage social media for crazy growth!
{ 18 comments… read them below or add one }
Good post, Monica.
In a way I feel like I’ve been preparing to be an entrepreneur since I scored my job with a consulting company (I think this is because I read so many blogs as an intern/project assistant). But I’ve kept my job and nothing much happened – but I still have all my little draft business plans, and even a logo for myself. Am I halfway there? What about quitting a job to do it on your own?
I guess it depends on personal situation , and your particular sense of adventure. “Hitting the streets” seriously can’t be that easy. I would have price advantage (by a mile) over competitors, but not resource (admin) advantage.
This is truly a great post, Monica! This is exactly the kind of thing I’ve started doing. I realize that the only “job security” there is, is the security you create for yourself. People are getting far too caught up in the doom and gloom of today’s economy, and not seeing the huge benefits and opportunities!
Entrepreneurship is great, but some of us cling to jobs because we can’t survive more than a month without pay – some can’t even survive that. Entrepreneurship requires that you are able to pay yourself. And that is simply out of reach for many, especially the under-thirty set.
Great post, Monica
I think that our generation are recognizing the illusion of the security of employment, and we’re having the courage to explore entrepreneurship. I agree with your posts and I think the most risky thing people can do right now, in this recession, is NOT explore entrepreneurship. Even if you would prefer to be employed, it’s a good idea to explore possibilities for extra income or a plan B income, should you be retrenched. That way you give yourself options and agility, so you can thrive, no matter what’s going on around you.
Cath
I'm going to quit my job, stop paying my mortgage, and wait for my bail out. Someone talked about class struggle here and well lets dust off the guillotine and start chopping off the heads of the bourgeoisie. Hell didn't Hugo fidelity 401k Chavez nationalized his economy. Ops, I guess American history isn't all that important. Were does the breadline start.
I'm going to quit my job, stop paying my mortgage, and wait for my bail out. Someone talked about class struggle here and well lets dust off the guillotine and start chopping off the heads of the bourgeoisie. Hell didn't Hugo fidelity 401k Chavez nationalized his economy. Ops, I guess American history isn't all that important. Were does the breadline start.
I'm going to quit my job, stop paying my mortgage, and wait for my bail out. Someone talked about class struggle here and well lets dust off the guillotine and start chopping off the heads of the bourgeoisie. Hell didn't Hugo fidelity 401k Chavez nationalized his economy. Ops, I guess American history isn't all that important. Were does the breadline start.
I'm going to quit my job, stop paying my mortgage, and wait for my bail out. Someone talked about class struggle here and well lets dust off the guillotine and start chopping off the heads of the bourgeoisie. Hell didn't Hugo fidelity 401k Chavez nationalized his economy. Ops, I guess American history isn't all that important. Were does the breadline start.
(my reply of 3 small paragraphs mushed into one…guess I need to add the < br >s
Torbjorn,
To answer your questions:
I think of the halfway point as the 100% commitment to the business; the end goal is generally to build a successful business. So taking the first step is the halfway point. You’re definitely on the right track though.
I think quitting your consulting job to do it on your own is difficult. (Wait. That’s what I’m doing… yep, it’s hard
.) In this economy I probably wouldn’t do it unless you have a lot of savings or a second stream of income built up. I’ve heard a good time to quit the full-time job is when you are making at least 50% of your current salary with your new venture. But who knows? I’m sure some people have done less.
And you’re right. “Hitting the streets” is way tougher than I made it out to be. But if you love networking and meeting new people it is fun. Also, price advantage isn’t always a sustainable competitive advantage. Generally, for consulting people like higher prices. Amazing, but true, at least in my experience!
Lisa,
Thanks for the comment! Good to hear you are looking at an entrepreneurial venture. Keep me updated on your progress!
Cath,
Exactly. Corporate life is probably more risky at this point than entrepreneurship. Not that everyone in corporate should quit their jobs and start companies, by any means. Just that people with an entrepreneurial spirit should not be afraid to pursue their interests, even if they take it slow during the recession to flesh out their ideas.
Nathan,
I wholeheartedly agree. I don’t think people should quit their jobs or anything to become entrepreneurs, unless it’s their passion.
Though I actually think the under-thirty set is best positioned to try entrepreneurship. I think most people over thirty have a) already started a family, bought a house, etc, and don’t have the financial means to bootstrap, and b) if they do have the money, they are probably high-earners already in a corporate setting.
Of course, the counter-argument is that the over-thirty set has much more experience and expertise to start a company. So maybe you’re right?
Monica, this is the first time I have visited this site and I am very impressed. I am in Germany sitting next to your father and he suggested that I visit the site because I am an entrepreneurship as well. I was wondering if you ever read the book “Rich Dad, Poor Dad”, and if so, what are your thoughts about it? Also, I have a website but it doesn’t pop up right away when I use keywords in google. I understand that it is a “meta-data” issue. How do I make my meta-data better so that I get more hits on google? Is that something that you provide as a service? Sue
Sue, I sent you an email to talk to you about you website. Hope to hear back from you soon! -Monica
{ 2 trackbacks }