It’s not so long ago that the concept of a ‘job for life’ was the tag attached to a position in a bank, the garda, the civil service and in an unspoken way – even the priesthood for god’s sake (no pun intended).Time was, one could never be sacked or let go from any of the above four professions. However, the last decade in particular has seen that concept blown out of the water in a dramatic way and there is no such thing as a ‘job for life’ in any profession any more. Many things can be attributed to its demise, amongst them:
>> seismic advances in technology almost on a monthly basis
>> the internet and its availability to almost every business on the planet
>> the arrival of the information age revolution- highly paid experts in the past were the people to go to for information – now it’s Google and its free
>> ease of transferability of skills, people and pensions
>> computers/machines now capable of doing the work previously carried out by humans
>> increased competition – companies striving to be the best in their industry sector have to be leaner, meaner and fitter- can’t afford to carry dead weight anymore
>> employees looked on more as commodities or at very least as an expense looming large on the company’s profit & loss account.
>> change of mindset of the school leaver- always wants to be improving and moving- not so long ago it was almost exceptional to have a degree of any sort- now it’s good to have a degree but unusual not to go on to complete a Masters.
>> the availability of third level education to almost everybody- no longer the preserve of those who could afford to pay
>> tolerance of employers towards wrongdoing or inefficiencies by its employees has waned dramatically- also the emergence of whistleblowers who have been given protection, credibility and status. In the past 10 years certainly, the ‘job for life’ professions have figured in the news for the ‘removal from his/her position’ of a banker, a garda, a civil servant or a priest for misdemeanours. Twenty years ago, these events would have been swept under the carpet and the employee ‘protected’-not necessarily for his/her own good but for the name/reputation of the profession.
A research company IBIS World has put together a fascinating insight into how workplaces have changed since the 1960’s and what other changes will occur in the 21st century .
Worker freedom in the 21st century.
These are changes which :
* have taken place
* are taking place
* will take place
Ireland -Where do we stand ?
The unemployment figures in June were the highest since 1994 coming in at a staggering 450,000 but despite the tough economic conditions, the entrepreneurial spirit of the Irish seems to be holding up well as latest figures from the CRO for June show that there were 2606 start-ups in the first 4 weeks- an average of 104 per day. Also the year to date figures for the 6 month period to end of June 2012 showed 24,000 start ups. The three most popular sectors for new businesses were the Professional Services, Wholesale & Retail and the Social & Personal Services industry sectors – which is encouraging.
Resurgence of the Self–employed; New Start up businesses
With the continuing demise of the ‘employee’ concept and the complete loss of the ‘job for life’ syndrome, people are looking to themselves to provide an income for their families and security for the future and are setting up in business for themselves .
Starting up a business is relatively easy but surviving can be tough although some experts believe that if the idea is right, that it can be easier to set up in a recession period because labour costs are lower, employees are plentiful and raw materials are generally cheaper. So how does one KNOW that the idea is right? You’ll have done your research, analysis, business plan and projections but unless you have psychic powers or a crystal ball, there is simply no way of categorically knowing whether a particular idea is definitely going to work. However that does NOT mean that you should abandon your idea or project- if that was the case some of the greatest businesses on the planet would never have come to the marketplace. Apple is the perfect modern day example- two people working out of a home garage driving revenue from zero to $10 billion in 10 years.
So how do you take some of the risk out of a start up and tilt the scales in your favour? What must be done is to remove as many of the imponderables or unknowns as possible out of the equation. Four questions which if answered honestly and positively should help.
1. The first question that must be answered with total and absolute clarity is “ What is my vision for my business?” Your business vision has got to come from YOU. Why? Because you are the heart and soul of your business — your strengths, your ideas, your abilities. Not someone else's. Your business is as unique as you. Included in your vision should be:
· Getting the greatest possible clarity about your business goals... Detail exactly what you need to do to achieve the goals you've set and then take ACTION. That'll get you where you're going faster than you ever thought possible.
· Steps to your success... focus only what's essential — not wasting time, money, or energy on things that don't move you forward.
· Know your perfect prospect... Then you'll be able to target your market with laser-like precision instead of throwing darts in the dark.
· Describe your own intended level of success... Know what you have to do to take your business to whatever level you want.
In short... establishing your business vision will let you create a real money-making business that will give you the independence you dream of.
2. Can you find a quick, cheap and easy way of getting a version or prototype of your product or service into the marketplace and then you can use the results of this trial to help you decide whether it’s going to be your ‘Klondike’ or your ‘Waterloo’. This action would also give you valuable insight into consumer reaction, pricing, demand and pitfalls which in turn will allow you to tweak your product or service before officially launching it with all the ‘bells and whistles’.
3. Do you or your company have a complete, well rounded team with all the skills necessary to realise the full potential of the idea (product or service)? If you don’t presently, can you buy/hire them in through outsourcing? A great idea or plan with inept implementation is like a duck without water- going nowhere! On the contrary a great idea coupled with peerless execution has a substantially greater than equal chance of making it.
4. Have you considered, anticipated and fully thought out all the possible, likely challenges or obstacles that the company may encounter after launch and along the way. As a military man once said “No plan survives first contact with the enemy”. More importantly have you detailed a possible response to such challenges or obstacles should they occur that will tilt the scales back in your favour once again? Frequently, with the excitement and rush to get a business up and running, these challenges and obstacles are either missed or overlooked primarily because they are perceived as a negative situation that may never happen. Business and the real world have an annoying habit of proving that we humans are not at all brilliant at predicting the future!
Whilst answering these questions as fully and as satisfactorily as possible doesn’t guarantee success 100%, it will certainly reduce start up risks substantially and then determination, perspiration and perseverance will bring you through the rest of the way.
You must have an "I will succeed no matter what" attitude. So much can be accomplished with a long-term vision, passion, motivation and resilience to short-term setbacks. Starting your own business is never a walk in the park, but if you have the drive to make it work then you are so much more likely to succeed. Most of all, it’s an unquestioning belief in yourself and what you are doing that will set you apart.
>> seismic advances in technology almost on a monthly basis
>> the internet and its availability to almost every business on the planet
>> the arrival of the information age revolution- highly paid experts in the past were the people to go to for information – now it’s Google and its free
>> ease of transferability of skills, people and pensions
>> computers/machines now capable of doing the work previously carried out by humans
>> increased competition – companies striving to be the best in their industry sector have to be leaner, meaner and fitter- can’t afford to carry dead weight anymore
>> employees looked on more as commodities or at very least as an expense looming large on the company’s profit & loss account.
>> change of mindset of the school leaver- always wants to be improving and moving- not so long ago it was almost exceptional to have a degree of any sort- now it’s good to have a degree but unusual not to go on to complete a Masters.
>> the availability of third level education to almost everybody- no longer the preserve of those who could afford to pay
>> tolerance of employers towards wrongdoing or inefficiencies by its employees has waned dramatically- also the emergence of whistleblowers who have been given protection, credibility and status. In the past 10 years certainly, the ‘job for life’ professions have figured in the news for the ‘removal from his/her position’ of a banker, a garda, a civil servant or a priest for misdemeanours. Twenty years ago, these events would have been swept under the carpet and the employee ‘protected’-not necessarily for his/her own good but for the name/reputation of the profession.
A research company IBIS World has put together a fascinating insight into how workplaces have changed since the 1960’s and what other changes will occur in the 21st century .
Worker freedom in the 21st century.
These are changes which :
* have taken place
* are taking place
* will take place
- No ‘bondage’ by businesses , bosses or unions
- The gradual demise of the ‘concept’ of an employee
- Rise of contractual relationships
- Dramatic increase in Outsourcing certain skills
- Payments for outputs(work completed), not inputs (hours worked)
- Emergence of advisers and mentors for worker contracts
- Rise of business ownership (workers owning a business)
- No discrimination on any basis (race ,gender, age )
- More part-time and casual work
- Partial or total working from home
- More working seasons in a life
- New industries and occupations
- Working in a borderless world
- Knowledge worker concept
- Lifetime education & training
- Rising wages and salaries ( add to that employers PRSI in Ireland)
Ireland -Where do we stand ?
The unemployment figures in June were the highest since 1994 coming in at a staggering 450,000 but despite the tough economic conditions, the entrepreneurial spirit of the Irish seems to be holding up well as latest figures from the CRO for June show that there were 2606 start-ups in the first 4 weeks- an average of 104 per day. Also the year to date figures for the 6 month period to end of June 2012 showed 24,000 start ups. The three most popular sectors for new businesses were the Professional Services, Wholesale & Retail and the Social & Personal Services industry sectors – which is encouraging.
Resurgence of the Self–employed; New Start up businesses
With the continuing demise of the ‘employee’ concept and the complete loss of the ‘job for life’ syndrome, people are looking to themselves to provide an income for their families and security for the future and are setting up in business for themselves .
Starting up a business is relatively easy but surviving can be tough although some experts believe that if the idea is right, that it can be easier to set up in a recession period because labour costs are lower, employees are plentiful and raw materials are generally cheaper. So how does one KNOW that the idea is right? You’ll have done your research, analysis, business plan and projections but unless you have psychic powers or a crystal ball, there is simply no way of categorically knowing whether a particular idea is definitely going to work. However that does NOT mean that you should abandon your idea or project- if that was the case some of the greatest businesses on the planet would never have come to the marketplace. Apple is the perfect modern day example- two people working out of a home garage driving revenue from zero to $10 billion in 10 years.
So how do you take some of the risk out of a start up and tilt the scales in your favour? What must be done is to remove as many of the imponderables or unknowns as possible out of the equation. Four questions which if answered honestly and positively should help.
1. The first question that must be answered with total and absolute clarity is “ What is my vision for my business?” Your business vision has got to come from YOU. Why? Because you are the heart and soul of your business — your strengths, your ideas, your abilities. Not someone else's. Your business is as unique as you. Included in your vision should be:
· Getting the greatest possible clarity about your business goals... Detail exactly what you need to do to achieve the goals you've set and then take ACTION. That'll get you where you're going faster than you ever thought possible.
· Steps to your success... focus only what's essential — not wasting time, money, or energy on things that don't move you forward.
· Know your perfect prospect... Then you'll be able to target your market with laser-like precision instead of throwing darts in the dark.
· Describe your own intended level of success... Know what you have to do to take your business to whatever level you want.
In short... establishing your business vision will let you create a real money-making business that will give you the independence you dream of.
2. Can you find a quick, cheap and easy way of getting a version or prototype of your product or service into the marketplace and then you can use the results of this trial to help you decide whether it’s going to be your ‘Klondike’ or your ‘Waterloo’. This action would also give you valuable insight into consumer reaction, pricing, demand and pitfalls which in turn will allow you to tweak your product or service before officially launching it with all the ‘bells and whistles’.
3. Do you or your company have a complete, well rounded team with all the skills necessary to realise the full potential of the idea (product or service)? If you don’t presently, can you buy/hire them in through outsourcing? A great idea or plan with inept implementation is like a duck without water- going nowhere! On the contrary a great idea coupled with peerless execution has a substantially greater than equal chance of making it.
4. Have you considered, anticipated and fully thought out all the possible, likely challenges or obstacles that the company may encounter after launch and along the way. As a military man once said “No plan survives first contact with the enemy”. More importantly have you detailed a possible response to such challenges or obstacles should they occur that will tilt the scales back in your favour once again? Frequently, with the excitement and rush to get a business up and running, these challenges and obstacles are either missed or overlooked primarily because they are perceived as a negative situation that may never happen. Business and the real world have an annoying habit of proving that we humans are not at all brilliant at predicting the future!
Whilst answering these questions as fully and as satisfactorily as possible doesn’t guarantee success 100%, it will certainly reduce start up risks substantially and then determination, perspiration and perseverance will bring you through the rest of the way.
You must have an "I will succeed no matter what" attitude. So much can be accomplished with a long-term vision, passion, motivation and resilience to short-term setbacks. Starting your own business is never a walk in the park, but if you have the drive to make it work then you are so much more likely to succeed. Most of all, it’s an unquestioning belief in yourself and what you are doing that will set you apart.
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