In an economy such as this, I may be beating a dead horse in discussing job security but for those who hang on to certain notions of this myth, my goal is to rewire thinking.  The millenial generation (we’ll call them genYers) is developing far different thought processes than their baby boomer parents and older generations.  During the first half of the 20th century, the key to the good life was putting in 30+ years at a company and retiring with the gold watch and a pension.  As Donna Fenn puts it in her book “Upstarts”, entrepreneurship was compared to hocking watches on a street corner, essentially, looked down upon.  One of the biggest arguments put forth is regarding job security.  Ideas such as “better safe than sorry” permeate the discussions.  A big strong company will take care of you and the whims of the market can’t take down the big boys like they can a small business.  Being self employed is dangerous and risky.  As the market has marched on, the truth has been quite different.  Not that the small businesses are surviving any more than others but simply that the big boys can and do fail, leaving many unemployed.  Even if complete failure isn’t the issue, cutbacks and downsizing lead equally to lost jobs.  What I find very interesting is the fact that job security is basically lost when it is needed most.  You might work for a large company for years with all this great security.  Suddenly, the economy takes a turn for the worst and the word at the water cooler is big downsizing and your position is on the chopping block!  The fact is, when you actually had job security is when everyone is doing well, including the small “risky” business.

Entrepreneurs have True Job Security

Job security ultimately is found

This is definitely an old concept that you will find in all the best business and self-help books.  Nearly every consultant will speak of focus as well and there is reason it has stood the tests of time.  Often, we find ourselves in conflict with our willingness to perform any service or provide any product a potential client can imagine.  Especially in it’s earliest stages, business tends to go “where the money is.”  This typically leads to a lot of additional work with little additional reward, not justifying the investment (time, etc.).  The idea of focus, especially in early development is crucial.

A recent discussion with a business associate and friend reminded me of the importance of focus.  When you find yourself too busy, working late and wanting more, you may have a focus problem.  A coach told my associate to look at the list of products and services he had written up on a board and went through a series of questions.  Anyone should do a similar exercise: Create a list of all your products or services and ask yourself these questions.  Which ONE offering makes the most economic sense? Which ONE of any would you want to do most? Which ONE offers the most potential? Now, take that service and FOCUS! Make that your primary service.  Don’t waste much time on others, maybe a few auxiliary services and products but with little focus on these.  As a new company, identify your bread and butter and make it the best bread and butter you’ve ever tasted.  Now sell that bread and butter to everyone since its the best they’ll taste too.  Later, once systems are developed, processes formed, pipelines automated, then you can look at the fringe, the extras, the additional pursuits.

Think about your endeavor and reassess your focus.

I have posted from time to time of inventions or ideas that I find interesting, new innovations, technologies, and more.  I often make the comment that it is entrepreneur-ism at work, or that I hope they make a bunch of money, etc.  Many may consider me a “greedy capitalist” at times for my hope of f0r-profit enterprising versus strictly altruistic giving of one’s talents.  My reasons, once pondered and understood, are often much more ‘giving’ than many may give credit to.

The free market plays important roles ethically and morally as well as economically and for advancement or progression.  It can be a gauge of one’s effectiveness, of one’s desirability.  As a dipstick, profit can be most valuable, telling you what society wants or doesn’t want, what a market needs or doesn’t need, and even simply your own inability or ability as an entrepreneur.  This is not necessarily a bad thing, simply an indicator, even to let you know you still have something to learn.  These indicators are not only valid in seeing viable financial success but actual desired assistance.  The marketplace need is a cry for help, a wanting for something better.  It may not always be so dramatic such as finally gaining back the two feet of floor space by going for a flat panel TV over your ancient tube set, but the cry still exists.  Oftentimes people decide there must be a trade between satisfying the cry for help and making money when, in reality, they work best when together.  Many treat the desire to make money as a desire to exploit, abuse, and hurt those around them when they are polar opposites.  If I am not satisfying the need, no one will be willing to pay money for it in the free market.  If people are paying for it freely, they must want it and it satisfies the cry.  One can align areas of passion and satisfaction with financial success.

This leads us to the next powerful point. 

I recently read a post by Kelly Spors of “Independent Street”, a WSJ Blog regarding the difference between small business owners and entrepreneurs. It is interesting as they are often treated as virtually synonymous terms when, in reality, their a some key distinctions. There are some valuable reasons to understanding these distinctions. First, and likely most importantly, you can decide which you are in order to more fully achieve your desired end versus being clouded by misinterpreted information and tips meant for the other type. Second, this provides a better clarity for consultants, coaches, other entrepreneurs and business owners, in suggesting direction and measuring results. Economically speaking, these two types have a different effect on growth, job creation, stability, etc.

The post refers to this as the key distinction:

entrepreneurs are those people who generate new revolutionary ideas, bringing them to the marketplace. Their ideas are innovative, making our society more efficient and often helping spur the U.S. economy by evolving into high-growth firms.

Once these dynamic “entrepreneurs” create one idea, they often move onto the next.

Small-business owners, by contrast, start a business and once they grow it big enough to support themselves and their families, they have no intentions of growing this much more.

From a research standpoint, this distinction will provide for more effective and applicable findings as their influence upon society differs.  As for influential advice, this distinction will allow the individual to seek information regarding their specific desires (i.e. growing a stable small business vs. exploding multiple ventures one after another).  As Kelly poses the question, so will I, with my own twist of course:

Do you want to be an entrepreneur or small business owner?

I tend to cater to both, especially the newly formed small business as they follow similar paths in the beginning…