Tag Archives: unintentional entrepreneur

Jobless at 58 sounds like an entrepreneur to me

Yesterday the New York Times ran a headline that read, “At 58, a Life Story in Need of a Rewrite.” The article was about Michael Blattman, who’s been out of work since January of 2008. Blattman is a 58-year-old MBA with a strong resume in financial services who once earned $225,000 a year.

After a year and a half of an unfruitful job search, it seems obvious that this guy should start his own gig. It’s unlikely that the financial sector will be in a hiring frenzy anytime soon. Blattman has applied for 600 jobs, according to the Times, and has scored exactly three interviews, only one of which was in person. It doesn’t look good for him being gainfully employed at a hefty salary anytime soon.

startercards.0626When I hear about people like Blatmann, first I want to shake them and then I want to find their address and send them a deck of our Start Your Own Company cards. He clearly has experience and expertise to share, having worked with the Federal Reserve and the Sallie Mae student loan program, as well as teaching business classes at the University of Maryland.

Why is he not starting his own company, or at least hanging out his shingle as a consultant? The cost of going into business for yourself needn’t be much of a hurdle, in an age when you can incorporate online with LegalZoom for $139 and launch a website with a free template. Perhaps there’s a growing need for guidance in applying for student loans, or maybe he could consult with schools on some aspect of providing financial assistance. Or it could be that his real passion is wine or carpentry or backpacking or piano and this is his chance to start a company doing what he loves.

He’s clearly got time on his hands that might be put to better use. He mentioned to the Times reporter that he had “zero” planned for the coming week, and he admits to driving two towns over for groceries, just to kill an hour or so. Blattman is divorced, but has given up on computer dating sites for now, because women apparently don’t show much interest in 58-year-old guys who are unemployed. It seems his life could use some positive momentum.

Blattman comes across as intelligent, likable, capable. He has years of contacts and a strong reputation in his industry. Why not use the thick skin he’s no doubt developed over his 18-month job search to sell the services of his own company, rather than trying to get hired by someone else?

He may have excellent reasons for continuing to job hunt rather than creating his own income. But I wonder if he just doesn’t realize that starting a company doesn’t have to be that hard. When I run into someone stuck in that spot, I want to get up on my soapbox and shout about how Starter Cards take you through the process, one manageable step at a time.

This is the era of unintentional entrepreneurs. People who never considered themselves the entrepreneurial type are creating their own work when they can’t find suitable jobs. But unintentional or not, every entrepreneur has to summon the guts to take that first leap.

Like anything else, launching a business can be broken down into a series of smaller tasks. If you know a Blattman out there,  send him or her to the Starter Cards website  for that Start Your Own Company deck. And if you’re Michael Blattman, give me your address and I’ll mail you a deck as my gift.

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4 important reasons to start a company when you can’t find a job

woman blank biz cardIn this recession, many companies are being launched by people who never meant to be entrepreneurs. These people haven’t long harbored the dream of being their own boss; They just haven’t been able to find a job and are thus taking matters into their own hands. The New York Times published an excellent piece yesterday  titled “On to Plan B: Starting a Business,” by Mickey Meece that touched on several of what I consider to be important themes in today’s entrepreneurial landscape.

1. It’s not crazy to launch a business during a recession. Contrary to the general assumption that  starting a company during an economic downturn is particularly risky, it appears to be no more risky than at any other time, according to a 2009 report from Ernst & Young. In fact, the survival rate is about the same for companies started in good times or bad. The Kauffman Foundation offers some reassuring statistics supporting the idea that companies fare no better or worse when launched in a recession or bear market.

2. Technology and social media make it easier than it’s ever been to start your own company. Just imagine how much harder it would be to start a company a decade or two ago — without the Internet, without email, without cell phones. You can research competitive companies and potential customers online. You can find legal services online, so you can incorporate without even leaving your desk. Creating a website no longer requires the services of a programmer, since there are numerous website templates and tools out there, from inexpensive to free. You can even use social media to market your products and services. A tremendous amount of business resources are available now that just didn’t exist before.

3. Starting your own business can give you some measure of control over your future. The current job market can be tough on egos. While the jobless rate is almost in the double digits, many companies are sidestepping much of the etiquette that once was common practice. You send out resumes, email decision makers and place phone calls, and it might seem as if you’ve just launched them all into a black hole somewhere, judging from the response you get. You may score an interview, but then never hear back from that company again, even to tell you that you didn’t make the cut. Launching a business at least gives you some concrete actions you can take that will result in visible progress. Week after week, you can see that your efforts are beginning to materialize into a company you created out of thin air.

4. Even if you get another corporate gig, it’s still good to have that Plan B. Let’s say you launch your company and then you get that big job offer you’ve been waiting for all this time. If your business is something you can continue to do on the side, it might be helpful to  have that additional income. That side business is also just as useful for your mental health. When you have a bad day at work, or your job future seems  uncertain, it can be enormously reassuring to know you’ve got something else to fall back on.