Business: Flying Without A Net — Entrepreneurs Starting Businesses During the Recession
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http://cityflight.com/?p=1006The five African Americans entrepreneurs featured in this story each started their business for different reasons, such as need resulting from losing a job, or family obligations that required a lot of their time. There is one theme that resonates throughout that drives them to succeed in running their businesses they love the new-found freedom of being the boss. They love being creative, spontaneous and making their own business decisions. Also, they each seem to understand that it takes time before seeing a profit in their business, but because they are doing what they love, they know the money will follow.
Most of them miss their former co-workers, but at least one entrepreneur actually hired her former co-worker, and now they are working together again. To staff their offices, many are using interns or contract workers until they are able to hire full-time staff. Talking to them gives a sense that it takes a lot of hard work, and that running a business is not for the timid. One must be willing to wear many hats until the business starts to make money. But the good news is, they get to make their own decisions, and they can always change their minds. After all, they are the bosses. They love the flexibility of managing their own time that only business ownership allows. Taking time off from work to attend to their family's needs without going through several layers of bosses is priceless.
The most practical advice from these entrepreneurs is that if you are employed and want to start a business, you should learn all you can from your current job and boss, and start making your business plansmake contacts, get licenses for the business, and set it up before you are fired. The transition from employee to boss can actually be accomplished the same day. Judging from where some of the businesses are today, these business owners have used that knowledge and experience to jump start their ventures and seem to have been thoroughly prepared to go to the next phase when the job loss occurred.
Although not yet making the salaries they left behind, most agree that by owning their own business, they now have the potential to make as much money as they would like to make. For most, the experience seems to be enjoyable, exciting and challenging all at the same time.
Business: Flying Without A Net Entrepreneurs Starting Businesses During the Recession
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