Most people are familiar with the employment process. From writing a CV to trawling job adverts to gaining interviews only to be told you’re not a fit. Getting a job is hard. Keeping one? In today’s age, this is even harder.
Unlike days of yonder where employees remained with the same company until retirement, today’s worker switches jobs and companies several times during the course of their working life.
The thing is, most people crave job security. They don’t want to have to keep jumping from one place of employment to the next. However, lack of loyalty on the part of their employer propels them to do so. This is why many people are choosing to become their own boss.
Benjamin Graham is considered to be the Godfather of value investing. He essentially pioneered the idea of valuing businesses based on their profitability and the value of their assets. While other investors had been using this approach for some time, Graham popularized it through his two books, Security Analysis, and the Intelligent Investor. Investing vs. Read More
Employment = instability
The longer you remain in the workforce the clearer it becomes. There is no such thing as loyalty, anymore. Companies constantly deal with employees who put in a couple of good years before charting their course to bigger and better things.
Employees constantly deal with sudden layoffs and companies that treat their workers as expendable cogs in the wheel. It is a disheartening experience. Noone enters the workforce with the expectation of being laid-off or back on unemployment before even nearing retirement age.
Only 54% of workers feel that their employer is loyal to them. For those who feel a lack of loyalty from their employers, seeking employment elsewhere is the only viable option they have. But is it?
When you have a job, you expect stability. But in a workplace where the average employee changes jobs every 4 or so years, the evidence appears to point at one glaring sign — there is no such thing as stable employment.
Instead of seeking and expecting employment stability, why not create job security by becoming your own boss?
Create job stability by starting your own business
A lot of people will gawk at the idea of starting their own business. The risks seem far greater than the reward. The irony is, starting your own business provides more stability than gaining regular employment.
In a workforce where you can lose your job at any given time, becoming an entrepreneur is actually a more viable and safer option for long-term job security. The reason why most people would prefer to look for employment as opposed to starting their own business is because of the lack of regularity that comes with being one’s own boss.
The thing is, as your own boss you are far more in control of your career path. Yes, it may require hard work and periods of little to no income, but the good news is anyone can become an entrepreneur and succeed in owning and running their own business. All it takes is the right know-how.
There are a number of online courses available for people just starting out in entrepreneurship. From management to business courses, to professional development opportunities — these skills coupled with the confidence to step outside your comfort zone is all that’s needed for a rewarding and more stable career.
The next time you find yourself out of work, use this as an opportunity to leverage your existing skills to enhance your career as an entrepreneur. In times of economic and job insecurity and instability, entrepreneurs are always the ones most likely to survive and thrive.
Starting your own business could be the perfect antidote to job instability. At the end of the day, entrepreneurship is a safe investment for the long-term. While many people tend to fear starting their own business due to lack of regularity, taking the risk will unveil a whole host of opportunities.
The great thing about being your own boss is that you’ll know ahead of time if something goes wrong, meaning you can rectify any issues prior to things going south. Instead of being blindsided by an employer’s sudden dismissal, you will have the resources needed to keep your job and finances stable until you decide to cease work.