Most of us understand just how bad the economy has been over the last few years. We’ve had issues with higher food costs, increased gas prices, skyrocketing energy rates, and a shrinking economy. But the worst issue of all is the loss of jobs.
In these tough economic times we can either rise to the challenge or be crushed under the pressure. My biggest concern has been how others have and continue to react to the current conditions in general and the struggling job market in particular.
There have been two primary reactions to the poor job market: (1) acquiring a second job, and (2) going back to school for an additional or advanced degree. Now, I’m all for higher education, BUT the problem with both of these responses is that neither of them addresses the problem…lack of jobs.
Consider this for a moment. If there are too few jobs, how does getting a second job solve the problem? Moreover, how does acquiring a degree help you get a job that may not be available? Aren’t there others out there with the same degree you are trying to get that are struggling in this very job market? Of course there are. Do you have 4 years to wait? Maybe. Does adding more debt solve your problem? Probably not.
So it becomes pretty clear that the solution to a lack of jobs is …Job Creation.
Enter the Age of the Entrepreneur
Entrepreneurs are born out of crisis and are by nature problem solvers. The “crisis” could be personal, or they could strive to solve a problem bigger than themselves. But make no mistake, effective entrepreneurs are indeed problem solvers. As for job creation being a solution to a poor job market, think about the effects one successful business owner can have on the market.
If you start a business and you plan for it to become successful, you will require the assistance of others – either as staff members or consultants.
For instance, you may need a bookkeeper or accountant, or you may need a lawyer at least to form your business entity. You may also need staff members to do paperwork, filing, customer service support, etc. But it does not end there. Consider professional services such as marketing and advertising companies, joint ventures, associations, suppliers and vendors. All of these people would generate an income because of a successful business. Now imagine thousands of successful businesses!
The truth of the matter is that entrepreneurship is the heart of an economy. Simply look at any nation with a struggling economy and you will find that free enterprise is on life support. Is it the solution to end all of our woes? No. There are many challenges that face our economy and it will take strong, smart, moral and financially literate leaders to solve them but it is up to the entrepreneur to relieve financial strife whenever and wherever possible.
“Fighting the evil forces of poverty – both yours and mine.”
Robert E Reed