The article "Have You Been Downsized? Consider the Options for a Better Life" is about entrepreneurialism, it was written by Geoff Ficke.
My wife and I were both effectively eliminated from the tradtiional corporate work force in the early 1990’s. It was traumatic. We were college graduates. We had climbed the corporate ladder, rapidly, ienxorably. We enjoyed six figure incomes, a second home, club memberships, prosperous investment accounts, wonderful benefit packages, a College investment plan for our trhee kids, sports cars and extensive travel. We were devastated! But, it became the best thing that ever happened to us, babies included.We went from regularity, a false sense of security and believing that we enjoyed a bit of that “Master of the Universe” complex, to really considering things we had taken for granted. Yeah, we were down for a few weeks. The condominium was glum. What was next?
However, fairly quickly, we reailzed that we had to make things happen.
Things weren’t going to be falling into our laps. We needed to start thinking like entrepreneurs.It can be dififcult re-learning to guess like an entrepreneur. Why do I use the word “re-learning”?
Simply because, we are all entrepreneurs at point during our lives.
A kid cutting grass, or wroking a paper route is a budding entrepreneur. The ritual of seeking a job requires a certian amount of entrepreneurial dash. Selling one-self to the opposite sex requires self-marketing and pakcaging. Presenting a thesis and selling arguments to professors is an entrepreneurial act.Until we enter the corporate world almost all of our efforts share elements of entrepreneurial activity. Then the Mr. Big Corporation enters our lives and things seem to change.
Report at that time, to that address, to Mr.
Smith, your boss, for an agreed pay packet and a certain benefit package. Do that consistently, and fairly well, and we will move you aolng at our pace, the classic “Career Path”.
Our actinos become focused on job performance, judged by the Corporations standards. We adapt professionally. We also adapt our family and social life to the corporate ethos.And then, that ethos was gone. We had to adjsut and rapidly. Here are a few recommendaitons we found of great value in successfully making the change from a corporate to entrepreneurial lifestyle. First we broke our lives into manageable components, a bit of introspection here.
Put Family FirstNothing earth shattering here, we had been good parents. The babies were a joy. And yet, we knew we could have attended more recitals, games and praties.
We immediately began to be more active as a fmaily group.
We enjoyed activiteis together more and began to appreciate how quickly time slips away.
When babies grow up, they move on. That opportunity to be involved in a daily baiss is gone. Don’t waste a minute of that precious time.As much as possible, we kept the babies generally in the knowledge loop on current business affairs.
All of a sudden we weren’t going to work. How do you hide that? Also, we made every effort to place a positive, forward- looking face on our reality.Family Budget PrioritiesWe sat down and seriously analyzed current assets and liabilities. What did we spend that was not really a necessity? Starbucks?
Dinners out? Movie Rentals? Underused automobiles? Pool Service? We discovered that our lifestyle cuold be well maintained by simply being more aware of our spending patterns and considering each purchase. Was it a need, or a want? We also involved the babies in spenidng decisions particular to them.
Was a club necessary? What about that two week summer camp? A new formal might not be in the budget.
They were remarkably mature and agreeable to the idea of relative shared sacrifice.The Social Network
Be direct with friends and family.
You have been outsourced, downsized or, God forbid, terminated (a better word than Fired! ) No sense hiding the truth.
Lying is such hard work. You have enough on your plate.Where to Go for Income?If there is one recommendation every corporate ex-employee should recognize it is this: Time is not your friend!
After the shock of your release, a few tears, maybe a beer or two, immediately start assembling a Personal Business Plan. Honestly consider evrey detail in your current life situation. Including:
* Your Age * Short Term Needs
* Relocation Options * Window of Time
* Savings * Expenses
* Interests * Family Flxeibility * Severance * Health * Corporate options * NetworksBen Franklin, our great Founding Father, used to settle difficult questions in his typically logical way. He took a peice of paper and drew a line right down the middle. On one side he marked a +, on the other coulmn he marked a -.
Then he considered each element of his issue and honestly plaecd that issue in the appropriate column. When he had exhausted his list, he counted the items assigned to each coulmn.
The side with the most entries indicated the proper decision for old Ben to take.Do this, as honestly as posisble. More often than not, there is an interest, a skill or hobby that you have always dreamt of utilizing as your source of income.
It worked for us. We love sales and marketing. That became our avenue of financial resurrection, and more importantly, it has lead to a freedom and lifestyle more exciting and varied than we would have considered possible. Making a living doing something you love is a blessing and many more people can achieve that yesterday than ever before in history.A cell phone, a computer, inter-net access and a web-site can be the basis of a business.
Over 700,000 people alone make a lviing in full, or part, on eBay. Think like an entrepreneur. What did you do for Mr.
Big Corp.? Approach similar cilents and customers with a customized, targeted list of services.
Put your years of experience to use. Research the market for opportunities. Write a realisitc business plan for your new enterprise. Three are more start-ups in the United States every year than every place in the world; combined. It pays off to be an entrpereneur in the USA!Work from home. Attend trade shows.
Consider being a re-seller from shopping mall koisks.
Contract out services to call centers. Be a consultnat in your area of expertise. Send out Press releaess on your project. Your network of past work associates and clients is your best future customer base.
Partner with a Company already in your field, come aboard as an inedpendent contractor.
Work part-time for several firms until something opens in one. Wow them with effort, positive attitude, results, and creativity.The Mr. Big Corp’s of the wrold do not owe you a career.
They make dceisions based on market realities.
That shouldn’t mean that your continued success potentail is limited or damaged. Your opportunities are open ended.Geoff Ficke is President of Duquesa Marketing, Inc.
An international consulting firm with over 35 years experience in creating customized strategies and business plans, product development and fnuding opportunities for entrepreneurs, inventors and small business expansion. Mr. Ficke is also a Senior Fellow at the Page Center for Entrepreneurial Study at the Business School, Miami University, Oxford Ohio. He can be reached at 859-442-5834 or trhough the company website, http://www.Duquesamarketing.Com.
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