I’ve said it before and I’ll say it again. While the job market today isn’t “robust” by any stretch of the imagination, it’s still far perkier that what we all experienced in 2009 — and hopefully we’ll see the fog lift one of these days, consumers and employers will loosen up their purse strings, and we’ll get back to business as usual. The fact that no fewer than FOUR of my clients reported transitions last Friday alone certainly gave me a dose of optimism that a fresh wave of opportunities might be starting to break loose out there!
In the meantime, as the market for most positions (especially executive roles) continues to be tight, many individuals are seriously contemplating whether it might be time to “buy out of the game” and create a position for themselves, through a self-employment option, versus having to compete time and time again for the finite pool of W2 opportunities out there.
This avenue is one that quite a few of my clients have considered over the years — whether in the form of starting a consulting practice, buying a business, purchasing a franchise, or exploring another entrepreneurial option — and while it might not be for everybody, it’s certainly a viable path for those who have the resources and management savvy to consider it. On one hand, working for yourself can lead to some sleepless nights in terms of the inconsistent income stream and money you often have to invest, up front. On the other hand, it can also lead to some sleepless nights based on the incredible surge of freedom, creativity, and personal growth that many entrepreneurs experience when they finally have the chance to fully control their own career destiny!
In terms of exploring this possibility, there are a tremendous amount of resources out there one can tap into for assistance, ranging from the Small Business Administration to the unemployment office’s SEAP (Self-Employment Assistance Program) initiative to a multitude of independent business brokers and consultants one can hire to provide expert guidance through this process. On this latter note, if you need any recommendations of good coaches and consultants in the area, I have plenty — just let me know!
On that note, one of the coaches and business brokers I’ve known for many years, and who has been a good friend of the firm, recently alerted me to an article he’s written that provides some useful food for thought for would-be entrepreneurs — especially those in the latter stages of their careers. This coach, John Martinka of Partner on Call Network, has written a piece that outlines some of the pros/cons that professionals should consider when evaluating the different self-employment possibilities. You’ll find the article here and if you have any thoughts or comments about it, or want to know more about how to navigate the entrepreneurial waters, feel free to reach out to John for more information. I’m sure he’d love to hear from you!