When job hunt takes you to nowhere, explore the dream lands of entrepreneurs

October 8, 2009 | By admin In advertising,baby care,business,marketing |

If you’ve been hunting for a job with lots of resumes and did not catch a job, you’re not alone. Unemployment is touching the highest level in 25 years in USA and globally. There are 2 options if you are not getting the right job.

Consider acquiring or updating skills in demand.
Go for self-employment and start a small business or start an online business.

It is easier said than done but when you have limited options you need to apply the best of your resources to make a turn around for success.
In the current economic situation many unemployed or underemployed with fears of job security are considering going
into business for themselves? After all, if you’re self-employed you’ll never be laid off, right?
Entrepreneurs have been the backbone of the American economy, creating 80 percent of all the jobs in America.

But is self-employment right for you? The prospect of being your own boss may look appealing, but what are the real benefits — and risks — of going it alone?
So if you have taken it on yourself to start your own business, the book “The Accidental Startup, Business Basics for the Chance Entrepreneur,” by author, Dani Babb (Fox Business, CNBC and CNN media personality and financial expert).
A survey of 200 entrepreneurs revealed that 10 percent were unemployed when they started their own business.
Another 26 percent were working part time and wanted full-time work, and 63 percent were already employed.

Now with unemployment figures on the rise, more “chance entrepreneurs” are becoming self-employed and many are starting with online business.

What are the benefits of working for yourself:

A stable income
No more fear of losing your job
Additional income
Freedom to make decisions
Flexible hours
The chance to do something you’re passionate about
Pride of ownership
Earning potential

Must consider the risks associated with self-employment

Feeling of instability as your business struggles to grow
Potential for failure
Unforeseen costs
Potential for long hours
Lack of vacations
Difficulty in building your business
Blurring (or disappearance) of work/life boundaries

Once you’ve decided on self-employment, you will need to develop a business plan, raise capital and manage finances, learn about your customers, know what to expect during the first year and develop a strategy for growth.

Becoming an entrepreneur and to succeed in your own business definitely relies on hard work, good planning, using resources efficiently and building on repeat customers. You will need planning, preparation, money and time.