Laid Off, Start a Business

What better time to start or buy a business than when you were just laid off or are fearful of a future lay off? Lay offs can be a cross roads in many peoples lives. Why not take the positive approach and control your destiny instead of worrying about lay offs.

It’s hard to walk away from a steady paycheck and take that leap into your own business, I know from personal experience. In the early 90’s my position had been spared, but I was fed up with corporate downsizing. The cleaning out desks and assuming others work loads had a demoralizing effect on everyone. It was like swimming in a tank with co-workers and sharks, hoping that the sharks would eat your co-worker. I decided to get out of that tank and do something positive with my life; I bought a very small business that had potential.

Some people think that a recession is the wrong time to launch a business. The secret is, good businesses succeed in any economy. As an entrepreneur you have to zig when everyone else zags. Look for the opportunities, there are plenty out there.

Here are just a few positive reasons to go into your own business during a recession;

There are bargains to be found. Find a business with potential.

It takes time to find or start a business. A severance package helps your cash flow during the initial phases of your business.

Downsizing businesses often “hire out” for services that they no longer have the staff to do. Look to provide these types of services.

Car sales are down which means auto repair businesses are busy. Look for trends like this for your business venture.

Businesses downsizing means furniture, fixtures and equipment needed to expand your business can be found inexpensively.

There are quality employees looking for jobs during a recession. Your small business should benefit from this pool of available talent.

Remember that even during the Great Depression, great projects like the Hoover Dam and Empire State Building we started and successfully completed. Hewlett-Packard was started in 1939. Microsoft was launched in 1975 during an extremely week economy that worsened for the next five years.

One can wait for Detroit, New York or Washington to save your job, or you can take charge of your career and become a business owner. Who do you want to count on?

Dave Roeser is a local business owner, licensed business broker, for profit and non-profit board member and local economic development advisory council member. Dave can be reached at droeser@sunbeltnetwork.com Additional information can be found at www.sunbeltmidwest.com