Jay Yoo

This article in the WSJ caught me by surprise.  You would think that in a stagnant economy, with relatively high unemployment, there would be a lot more people going out on their own and starting their own gig.  It just does not add up?  Even in Cleveland, there is a definite rise in the number of start-ups compared to a decade ago.  So what gives?

Other researchers say cultural characteristics such as individualism and a society’s acceptance of business failure and recovery are the chief fuel for entrepreneurship, and that most other factors—consumer demand, financing, the cost of entry—are just cyclical.

The U.S., which has plenty of individualism, is clearly testing that theory: Will an innate entrepreneurial spirit power up a bad economy? Or will our changing economy continue to produce fewer jobs from start-up entrepreneurship?

For the moment, the trend lines aren’t encouraging.

It seems that most entrepreneurs are flocking to do start-ups in technology, which is red hot at the moment, while the “meat and potato” ( heart of small business and start-ups alike) entrepreneurs seem to dwindling.  This is amazing! As the cost of starting a business has gone way done (due in large part to technology and the Internet), there are so many new opportunities (low hanging fruit) waiting to happen across all industries. The playing field truly has been leveled, so what gives?

I blame it on most people’s inability to get passed the naysayers.  Let’s face it, naysaying is everywhere (yes, we all do it) and it is the “black plague” of what keeps entrepreneurs going: optimism to change the world (do something different). 

If you can’t get over naysaying, then you truly are not ready to venture out on your own. While that is not a good thing for the economy, it leaves plenty more opportunities for the rest of us.

Okay, this article from the WSJ is too linear and littered with MBA thinking for my liking.  It brushes over creativity and says nothing about failing fast, swinging for the fences and other things that make Entrepreneurs; the things they don’t teach you in school (blind faith, staying stupid, not doing it for the money, etc.). 

That said, I thought there was some good stuff in the article and it did give me pause to make sure I teach my kids about business stuff as the opportunities arise.

So the other day, out of nowhere, my kids wanted to make a lemonade stand.  They created upsell items (bookmarks and art), as well as sugar free lemonade.  Actually, I was delighted because it kept them busy so I could get something done.  

The long and short of it all is that they earned $7.50 and achieved an 80% gross margin!  To them, they just made $7.50 and they did not think about investing in the future (tomorrow’s lemonade stand or giving the money to charity).  As I explained profit and their business options they looked at me with blank stares and went right for the Nintendo Wii. 

Perhaps the lessons will eventually sink in but I think they will be fine Entrepreneurs if they never lose that fun!

If only more business stiffs and authors on entrepreneurship could lose their egos and get passed the boring stuff, their kids might actually have a chance of becoming Entrepreneurs.

I was shocked by the job snobs on World Have Your Say today: http://bbc.in/9uVk9O#243585. I think all of them said they would not do jobs more or less that are “manual labor” because they felt they invested too much in their education. Listen up educated, but unspecialized and not-really-very-talented Job Snobs, immigrants have those jobs covered, so don’t bother, anyway; they are way too hardworking and “hungry.”

Welcome to the world of “unless you are highly specialized or really special (talented at something)” your f’d for now. Perhaps you could go out and do a volunteer gig for a food bank, shelter or something and put that education to greater good use. Oh yeah! You can always go back to school.

That, or just start your own gig. You might want to take a class in mopping floors first…