Broker Check

Starting a Business vs Finding a Job

| April 15, 2020
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The frequency of job changes has increased over the past few generations and is only being fueled more so by the 2008 housing crisis and the 2020 Covid19 epidemic. Landing a job is no easy task and many factors like a global pandemic can leave you back to square one. The total time that it takes to make a resume, research companies, interview and write cover letters is staggering and can take months that can lead to settling for lower pay, a job that you are overqualified for or no job at all. The process is brutal and many companies make it mandatory to have a college degree. With the rise of Linkedin, there is even another barrier in the way and can lead to employment discrimination during the hiring process.

Now imagine using that time to write your resume to instead make a business plan. The money spent on a college degree going towards marketing costs. The time researching companies instead is competitive analysis. The interview process is instead client/network meetings. The times you don't walk away with a job offer is a total waste of time and even a job you have for years can be lead to nothing and be unfulfilling. The biggest thing about owning a business is time and momentum. The time you meet someone to talk about your business is well spent promoting your brand. You can't fire yourself from your brand because you own it! Every part of the hiring process is mirrored by starting a business and getting clients. You have to knock on a lot of doors to get a job and the same goes for getting clients. Not everyone can afford to start from scratch because of bills but everyone can open an Instagram account or start a Facebook business page. A little work each day during lunch or after work can create something from nothing. It doesn't have to take over your job but replacing watching the office on Netflix with an hour of working on your brand can make or break your personal finances if you get laid off unexpectedly. If you get laid off instead while working on a side business can focus more on your brand. People are dying to buy things  and I have seen people start selling some of the most basic items. People buy from people they know and trust. I my self will try to buy anything from someone I know because it helps them out. With enough time you might actually be able to quit your job and have your side hustle become your main one. All you have to do is start! 

Stephen Poll
Financial Advisor at Clay Financial
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