Have An Idea? Why You Should Start A Business NOW

Whether you’re just leaving college or a post-graduate program, the conditions aren’t the most favorable for finding work. You’re certainly in a better position than someone who has no degree, but according to the New York Times, evidence suggests that employers are hiring college-educated workers for jobs that don’t require college-level skills. Thus, many college graduates are coming out of school to find themselves seriously under-employed, working in jobs that twenty years ago, college grads might have scoffed at.

What’s The Alternative?

When the economy’s in crisis and the prevailing wisdom is to “take whatever job you can get,” do you have any alternatives? Absolutely! What would you choose, if you could? A dismal future of being overworked, under-employed, and under-compensated, working corporate jobs that, with downsizing and outsourcing, continue to less and less secure every day, or a future in which you set your own hours, work in the way that suits you best with the clients you enjoy most, earning the salary that you choose?

A New Plan For Your Future

When you own your own business, you make the rules. Everything happens on your terms. That means you make all the decisions. That’s both awesome and scary, but it puts control over your destiny squarely in your hands. Your success or failure is completely up to you. You might be thinking, “But what about market conditions?” Sure, the economy and certain conditions have an impact on business. But every realtor didn’t go out of business when the housing market struck. Instead, the crisis separated the wheat from the chaff—industry and economic problems have a way of sorting out which businesses are best prepared to weather the storm, add new marketing strategies, and serve their clientele best when trouble hits.

But Is It Safe To Start A Business In A Tough Economy?

Starting a business in challenging and complex economic times sounds crazy, doesn’t it? Yet many of the greatest businesses we know were started in economic conditions remarkably similar to the ones we’re experiencing right now: Apple, Logitech, IBM, FedEx, Proctor and Gamble, Microsoft, CNN, Trader Joe’s, Wikipedia, Sports Illustrated… the list goes on and on. Whether it’s a recession, a depression, or just a strange moment in economic history, it can be a great time to start a business. Plus, if you don’t have a job, you’ll be forced to hustle, and that can make your business grow faster. When you have to pay the bills, you’ll be more apt to do whatever it takes to make your business a success. If you want to minimize your risk, though, you can start your business in your spare time while you continue to look for work. Having a day job while you grow a business that you can eventually transition to also means you’ll be more likely to make smarter business decisions, rather than ones that are borne out of fear, lack of money, and “brain junk.”

Can Just Anyone Start A Business?

Heck, yeah! That’s the American Dream! Anyone can start a business and pursue his or her dreams. Not everyone will be a success, however, and the reason is that there are lots of ways you can get business wrong.

Step 1: Work On Your “Brain Junk”

If you clear out your mental baggage, you’ll be able to think big and avoid self-sabotage. Plus, you’ll also be more likely to actually start your business, since often, people don’t start businesses because they have brain junk around the idea that they can.

Step 2: Find Your “Sweet Spot”

There’s a special intersection where doing what you love meets doing what you’re good at. Find that intersection and you’ll have the highest chance of success.

Step 3: Package That Sweet Spot

You’ll need to package what you love doing and what you’re good at into a profitable business model as well as into a brand that appeals to your target market. And don’t skip knowing who your target market is, either, or you’ll fall into one of the biggest pitfalls for new business owners.

Step 4: Lean Into Your Marketing

Engage with your audience and go the extra step beyond to deliver exceptional customer experiences and you’ll create a loyal following that cares about your success.

Step 5: Build Your Village

You’ll need help as your business grows. Build a village to grow your business and you’ll be set up for success. Starting and growing a business in challenging economic times isn’t easy, and there’s no such thing as “get rich quick.” But if you’re out there, with a new degree and no job, you still have options that can help you to live life your own way and help you reach your dreams. Photo Credit: Shutterstock

When most people think of Nike, they think of shoes, retail stores, and, of course, athletes. That's all true, but there's more. Behind Nike's walls, you'll find the doers and thinkers who design, create, and innovate every day. There are also data scientists who discover and leverage athlete insights to create the future of sport.

You might be surprised to learn about the impact you can have in Data & Analytics at Nike versus at a major tech giant. Nike employees get to work on a wide array of challenges, so if you're obsessed with math, science, computers, and/or data, and you love sport, these stories may inspire you to work at Nike.

SHOW MORE Show less

Employee loyalty is something every company longs for. It's estimated employee turnover costs as much as 130-200% of an employee's salary. When a talented, knowledgeable, trained employee leaves, it's bad for business. And, when lots of them leave, it can be the kiss of death.

SHOW MORE Show less

If you saw our first video, you might have heard about the interview situation one of our viewers, Remi submitted. He was in an interview and was asked the question: How many cows are there in Canada right now? - What a weird question but this is a technique that some hiring managers are using these days.

SHOW MORE Show less

If you saw our first video, you might have heard about the awkward situation one of our viewers, Kevin submitted. He is a college student who's working a part time job to make ends meet. The manager/owner of the company has become a micro-manager who watches him work on camera and reads his company emails. A bit over the top wouldn't you say?

SHOW MORE Show less

All work and no play can create a tense and unwelcoming environment. Studies have shown that employers that offer additional perks have employees that are happier and more loyal to their place of employment. If you are looking for an employer that acknowledges how important it is to give its employees a place to de-stress and bond with their co-workers, check out these companies!

SHOW MORE Show less

In this week's episode of "Well This Happened", we want to know what you would do if you worked for an owner who micro-manages you my watching you work on camera and reading through your company emails.

We want YOU to be the career coach and tell us which one is the RIGHT answer!

Think you know? Vote below, and stay tuned for later this week when we announce the right answer (and why the other ones are wrong).

SHOW MORE Show less