Job seekers to job creators, how startups are changing our mindset

January 29, 2022 | Alaina Srivastav

By nature, we long to be free. We might be working with the best employers, but somewhere we desire to be the CEOs of our own lives.

Sure enough, a comfortable job has its perks like insurance coverage, annual vacations, and those fat bonus checks. In the past, many of us could sleepwalk through our jobs without ever feeling threatened about our careers. Essentially, the world would be divided between those ‘who were content having a boss’ and the ambitious breed ‘who wanted to be their own boss’.

Then, the COVID-19 pandemic unsettled the former. We don’t need to go into how the economy collapsed resulting in huge pay cuts and remuneration delays. Job security didn’t seem a credible concept anymore and unemployment was an incentive to not work. Seniors became increasingly vulnerable in their own industries and were compelled to justify their exorbitant salaries.

Small and medium enterprises (SMEs) took a huge hit but were shielded by the Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) schemes. Suddenly, we felt the rug pulled out from under us.

The Great Resignation

Work from home began a norm for companies that could withstand the global pandemic-induced recession. As our living rooms became offices, we had a chance to pause, step back, and reassess our lives. Work-life balance allowed us to save on travel time. We reconnected with our families whom we had lost in the daily grind.

Many believed they could take charge of their lives by starting their own businesses even on a small scale. The need to control work hours, raise the standard of living, and make independent decisions by freelancing seemed greater than ever before. In their minds, they had already mailed the Great Resignation to their bosses.

Firms like Outliers became examples to emulate. Operating from college dorm rooms, Outliers, an educational start-up, has now grown into a giant corporation. Now, the world awaits many fascinating stories like this. And signs are encouraging.

Turning inward

Only recently, the Guidant held a survey to understand the mindset of resilient, determined, and hard-working small business owners in America. The survey highlighted just why setting up small businesses was becoming a trend. Numbers tell their own story.

    Ready to be your own boss: 29%

    Dissatisfied with corporate culture: 17%

    Pursuing my own passion: 16%

    An opportunity which presented itself: 12%

    Inspiration for new business: 9%

    Not ready to retire: 7%

    Laid off /Job outsourced: 7%

While the International Labor Organization did identify the small-scale entrepreneur as vulnerable, several studies indicated that many employees recalibrated their careers by setting up their own startups, for they didn’t feel adequately rewarded for their efforts at workplaces, both monetarily and emotionally.

How ‘be your own boss ideas’ inspired change

In the last two years, we celebrated the spirit of entrepreneurship. The world witnessed a renewed zeal among young Americans who chose entrepreneurship over traditional employment. The 20s is generally seen as the best age to take chances, as could be gauged by the examples of American youth foregoing successful careers, especially in the technology industry, to pursue their own ventures.

It’s not only the tried and tested business model that has thrived. The individual worker learned to tap into his or her strengths to leverage them into businesses. For instance, funeral services were offered in until now unorganized global markets. Online florists took charge of our gifting needs. The US Chamber of Commerce offered business opportunities such as pet grooming since pet adoptions accelerated during the pandemic.

The free-spirited freelancer emerged following the proliferation of handmade products, home beauty kits, delivery, and errand services, commercial cleaning services, personal training, educational toys, virtual counseling, transcription services, and writing agencies.

Millions who lost their jobs during the pandemic started to upgrade and upskill themselves. Online courses and YouTube videos facilitated the development of new skills. Staggeringly high numbers enrolled for courses offered by Upgrade, Futurelearn, EdX, Coursera, and so on. From finance to dance to creative designs, these courses empowered the zealous entrepreneur.

How to be your own boss…

While ‘working for yourself’ or the itch to ‘run your own business’ can be emancipating and give a fulfilling career, you must be aware, alive, and active. Alive, of course, in a metaphorical sense, for any enterprise that doesn’t evolve and is resistant to change invariably decays and dies. Ensure you:

    1. Connect with like-minded professionals

    2. Scale-up gradually instead of doing too much too soon

    3. Keep your business profile updated

    4. Leverage social media

    5. Understand the market and trends

    6. Be patient during the process of trial and error

Remember, your idea might appeal to venture capitalists with piles of cash to invest. Even 5% success in their investments could translate into supernormal profits. Their investments could make your firm a future unicorn.

You’ve got the aspiration, we’ve got the experience

Entrepreneurs create jobs, fuel the economy, increase national productivity and inspire future startups.

So, do you want to become your own boss, develop your business identity and build your own dreams? This craving, the ‘want to be your own boss has made you come here. Your next step may be creating a website to spread the word about your uniqueness. Call us today at +1.408.621.8481 or email us at team@sdi.la to enjoy the benefits of being your own boss.

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