Act Like a Start-up: Ride out The Recession, But Don’t Get Too Comfortable

Big News: The economy sucks right now!

And for those of us who need a job and a paycheck to pay our bills, things are certainly getting interesting.

Business Week just published an article stating that November’s 6.7% unemployment rate is a full 2% higher than last year at this time, and that number is severely understated. The unemployment number only counts a very specific portion of the population — people who do not have a job, are currently available for work, and have actively sought employment within the last four weeks.

A friend of mine just applied for unemployment and the woman told him that the number of people applying in Madison the past few weeks has been astronomical – she’s never seen anything like it. A few of my other friends own a burger joint that was the hottest restaurant in town. Now they’re struggling to break even. When college students stop eating burgers and fries, you know something is off.

We’re certainly feeling the effects at Brazen Careerist too. Finding funding is about as much fun as sticking needles in your eyes, and we’re all adjusting accordingly to keep things going.

Things are bad. But strangely enough, I side with Nadira Hira of Fortune Magazine when she says, “The outcome of the financial crisis may not be a defeated Gen Y, but a more determined one — determined, that is, to follow fulfilling work.”

I don’t know about you guys, but when I turn on the news to see the doom and gloom of the economy, or when I worry about getting a paycheck, I can’t help but think that in the long run, this will make our generation more resilient and better able to handle the challenges we will face in the next 50 years.

And as far as fulfilling work goes, Hira is right on point when she says, “the trifecta of entrapment for the company men of generations past — they’ll be harder to corner. Every time they get a paycheck, they’ll be wondering if it’s their last. And they will always resent a company that uses that paycheck as a shackle.”

The advice you read for start-ups tell us that now is the time to settle in and hunker down. It may not be fun, but it’s what you have to do. The same advice holds true holds true for individuals, and if there was ever a time to take a less than perfect job that uses “a paycheck as a shackle,” just so you can pay the bills, that time is probably now.

But remember, the start-ups and individuals who will survive the worst of times, and emerge better than ever, may appear to the outside world to be “hunkering down” but I guarantee that on the inside their wheels are spinning at a million miles per hour.

So make sure that if and when you settle in to ride this thing out, you never stop planning your next move. Because if you get complacent and wait ‘til it’s over, you may be too late.

Similar Posts:

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• How To Keep Your Job In A Recession
• Investors dump $89B in U.S. securities in historic fire sale – USATODAY.com
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Tags: brazen careerist, business week, company, economy, employment, financial crisis, fortune magazine, funding, job, paycheck, recession, start-up, unemployment, unemployment rate