| | SCOTT's Journals Recent Comments New Workplace Paradigm Mandates That You Become A Home-Based Entrepreneur
"A home-based business will not work!"
You'll hear this from everyone—everyone, that is, except successful entrepreneurs. What do your parents, your friends, your church, your school, and everyone else you know tell you about working in any way for yourself? Nobody can do it! That's what they say. They insist that you have to work hard, get into a well-paying profession, stay with it for 40 years, and retire with a large pension. To make this work, one must begin a systematic saving and investment program very early in life and stick with it until retirement.
What's wrong with that picture?
When you first begin to work, retirement isn't likely to be anywhere in your thought process. Many owe tremendous amounts for college loans plus credit card debt; in an article on the Bankrate.Com Website, Lucy Lazarony says the average college student owes $2,200 on credit cards and graduate students owe even more—$5,800. Paying the minimum, it would take over 12 years to pay off $1,000; go figure how long it will take to pay off larger balances. Add student loans, and the average student owes a total of $20,402 according to Credit Card Research Program; that's quite a lot of money for a beginning employee to repay. The point is beginning employees aren't thinking of saving. They want things like cars, boats, clothes, to get married, or to buy a home. And they still have those student loans and an ever-increasing credit card debt to repay. There's no money available to invest; not for many years...maybe not ever.
Now what happens with the few young beginners who have the self-control to begin a serious investment program? All investments carry risk; that's why they pay you for making them. Many investment vehicles are available ranging from real estate, mutual funds, stock market, all kinds of hedge funds, commodities, you name it. Most people have decided on 401k plans, IRAs or mutual funds as being the safest way to go; but even these fairly safe plans have been hit with scandals like Worldcom and Enron and all the other accounting scams of the past few years. All these things have caused the value of retirement funds to plunge and sometimes to disappear entirely. You just can't depend on any one source for continuing wealth if you aren't working.
"Well", you say, "if I become a doctor or lawyer, I'll be self-employed and make a lot of money. I don't have to worry about being an employee and be told what to do by others. I can keep the money I make and I'll never have worries about money."
One of the top financial institutions in the US (I don't want to call names, but I'm very familiar with it) instructs all its agents and salesmen to not call on doctors, lawyers, and other professional people. Why? They all have nice homes, new cars, boats, and they are active in community life. They should be excellent prospects for investments. But they aren't!
These professionals often owe monstrous amounts of money for school and for those fine houses and cars and boats. Dartmouth Medical School says 35% of new doctors owe at least $150,000. They are expected to maintain a certain lifestyle and they will have children who need to go to college. Do the math and you will see most doctors will be approaching sixty when they begin to emerge from their mountain of debt. This is why the salesmen are advised not to call on professionals; they often have absolutely no money to invest!
This also means for most of their lives, doctors and other professionals are not actually self-employed. They work for the host of lenders who have furnished money, they work for the community that expects a certain lifestyle, they work for the automobile and boat dealers who sold them their toys, and they work for the colleges educating their children. They are bound by their financial restraints so they aren't self-employed at all. They work for all these other people. And what happens to this professional if she has an accident that makes her unable to practice her profession? Unless she had the foresight to buy disability insurance (which she probably didn't think she could afford because of her other debts), she could be in big financial trouble.
It is ironic that the same reasons why people should start a home-based business are often given as the reasons why they can't (don't have time; don't have enough money; don't really need to now). I am convinced that everyone should start a home business as early in life as they can, which is right now. Regardless of their personal situation, almost everyone needs a "Plan B"—a diversified stream of income that doesn't put all their eggs in one basket.
Even though people still have these same old excuses, there are new urgent reasons why everyone should be getting their home business started whether online or off. All these operations need time to begin bringing in money; you can't just kick-start them and expect an automatic fountain of money.
What are these new and urgent problems facing us all? You really need to pay attention!
1. There is a frightening move toward employers dictating everything an employee does at home or everywhere. The latest development of this issue is the smoking ban initiated by the Michigan company Weyco. As a result of its firing of several workers, the Los Angeles Times reports a Michigan legislator has introduced "lifestyle legislation" banning an employer from firing people for legal activities away from the workplace. Only a few states have such laws and the federal law covers only race, religion, or gender. The lawmaker rightfully has addressed the possibility of extension of this concept to many other areas like drinking beer or clothing unacceptable to an employer. Other current high profile issues could include weight control, social behavior, and political correctness in speech or actions. Do you really believe anyone should be able to tell an employee how to act in a legal way off the job? Disgusting!
2. September 11, 2001, has shown the spotlight on the possibility of a mass public illness from some terrorist act that can make millions sick. This Homeland Security issue is certainly a legitimate concern, but when you consider the flu vaccine shortage, many people have also begun to be greatly concerned about workplace germ issues. All the news media have addressed public concerns about communicating disease among those around you. On NBCs Today Show, (February 16, 2005), Al Roker said employees coming to work sick has been estimated to cost employers $159 billion a year! I totally agree people should stay home if they are sick. BUT what about hourly workers? The NBC show says, for example, flu usually lasts five or six days, but workers usually come back in less than two days. No work, no pay; they starve to death. So what if employers start firing employees who come in sick despite warnings? These guys have to eat. So even when the employer gives paid sick leave to hourly people, will an employee be fired if their employer thinks they used their sick leave more often than necessary? Who can work when they're in constant fear of getting a bad cold and being forced into a pay cut?
3. Offshoring of jobs to cheaper developing countries has become a very serious issue for many workers. This has the ability to affect any job that can be entirely done by telephone or computer: customer service and most programming and Information Technology (IT) jobs are the most recent victims. Public Citizen reports there are no hard facts about the total number of US jobs lost or to be lost, but they do give these data:
Gartner Group says 10 percent of technology jobs will be offshore by this year, 2005.
Gartner also says 25 percent of traditional IT jobs will go by 2010.
AT Kearney believes 500,000 (8%) of jobs in banking, brokerage, and insurance will be offshored by May, 2008.
Can you afford not to hedge your bets and protect yourself against the possibility of this happening to your Job? I don't think so.
4. Here come the robots and computer-operated machines. A few years ago I observed firsthand the effects of automation on the textile industry in the US. The hosiery knitting machines used to be operated by one operator for every eight or ten machines and a mechanic who looked after maybe twenty machines. Then came high speed electronic machines where several hundred machines could be operated by one person at a control panel and one mechanic could often repair a problem remotely from a computer console. Changing patterns, formerly an extremely labor-intensive process, could now be done in just a few minutes with a software program. The textile industry is nearly extinct in the U.S. at this time.
The hosiery experience has formed an image in my mind of very large buildings with thousands of machines operated, at some point in the future, by maybe two or three people. So two or three people will replace thousands of workers who will have no jobs as we know them. In this factory, computers connected to robots will receive orders and transmit them to the proper equipment for production; robots will then ship the products to wherever they are required, no human hands involved.
Farfetched? Look at some of the unbelievable things already in the works. Doctors are being assisted by surgical robots, Japanese are developing robots to care for elderly people, and the Smithsonian Institution's National Museum of American History has used a robotic tour guide. Development has begun on a desktop robot system capable of producing just about anything we use in our daily lives and others are developing a robot system that can build entire buildings. The list is limited only by the imagination of technicians.
Whatever happens, jobs are being eliminated worldwide, possibly including yours. The doctors and medical technicians are already at risk as are accounts and tax preparers. Medical robots along with tax return and accounting software will reduce demand for these skilled workers. Stock brokers, legal research, and programming jobs are all either going to developing countries or they will be replaced by Web services or software that does their work; there could be much less demand for any of these people.
These developing issues mean that work as we know it is likely to cease or at least drastically change. In a few years (we don't know how many or how few) there may be no office or manufacturing jobs for people to use for income. We have seen that even service and professional occupations are endangered; there is already a robot vacuum cleaner available for home use. So what are people to do? How will they pay for their needs?
There are some who say the U.S. workforce will not be able to meet demand for workers in a few years; others say there are plenty of workers. The facts are that the workforce probably isn't declining, it is just growing at a very slow rate. Some say greater productivity will cover the shortfall of employees. If the worker replacement ideas we've discussed actually take place, most jobs will be eliminated and there won't be a need for ANY workers. If automation doesn't do this and there is a greater demand for employees, many say increased productivity will compensate for any shortfall. Either way employees will lose. If there are no jobs, they will have no income; if productivity is used to overcome a worker shortage, employees will become overworked and underpaid; they will burn out and be useless. Not a good scenario either way; there really is no upside.
In reality, none of these extremes is likely to happen, at least not in the short run, but there probably will be increasing job loss pressure in the workplace. The government will figure some way to keep displaced workers from by starving offering a subsistence payment of some kind. Would you like to just exist for most of your life without contributing anything to society? Probably not.
Here's how to prepare for the negative pressure that any of these employment developments might place on your future income potential:
Start a home-based business either using the Internet or some other business not likely to be impacted by automation or offshoring. You may have to try two or three things before finding the right one, so its best to get into opportunities requiring a small investment. When you begin to succeed, you can put money into a more costly program if your research comes up with a winner.
Constantly educate yourself and obtain as many new skills as you can so you can participate in opportunities as they arise.
Actively look for opportunities in emerging fields. If you like one and think you are qualified, seize the chance immediately before it vanishes.
Remember the first and best defense for you is the first option: become a home-based entrepreneur with your own business. Even if you are successful in remaining employed in something you enjoy, your business will provide extra income and a sense of financial security.
You Can't Do That!
Can't do what?
ANYTHING you thought of on your own!
Consider what your closest friends would say if you told them about a wonderful herbal mixture, already approved by the government's drug authority available only from dealers like you. It's a traditional MLM company. This product will reduce your weight by at least five pounds per month with no change in lifestyle, it will reduce your susceptibility to all kinds of cancer by at least 10 percent, and it is as effective as Viagra. You ask your friends for their opinion and their instant unanimous answer is "I don't want to have anything to do with your stupid scam!"
Next, you bite the bullet and present your wonderful opportunity to your spouse! Spouse says exactly the same things in a more aggressive manner and throws in other objections as well.
It isn't enough that self-doubt about one's ability is always present, but friends, family, and spouses (or the equivalent) will pour multiple reasons why you can't work for yourself. Why is this?
According to H.L. Mencken, William James, Horace Mann, and others, as related in the article by former teacher-of-the-year John Taylor Gatto, the educational system in the US is patterned on the Prussian plan of Frederick the Great. Major objectives of the system are to produce a controllable political population and a capable but obedient workforce for corporations and other employers. After thinking about this you may or may not agree. But the damage has been done over the years; it has carried over into the thinking of churches (which have their own religious views about entrepreneurship) and our families, all of whom have come through the system. Everyone has been drilled with the idea they have to work for some entity within the system but not for themselves. You've got to help society but from within the limits society imposes, not from using your own resources.
Another barrier is the problems your acquaintances have when they see you with an opportunity to do better than they are doing. John Watson addresses this personal self-doubt in his "Obstacles to Success" article. As a martial arts instructor he had students who would almost complete the course and then abruptly quit just before acquiring their black belt. He thinks some students don't believe they have the ability to do anything because somewhere in their life they have been told they were lazy, a pushover, or good-for-nothing in such a way it lodged in their subconscious to the extent they really can't succeed. These people tell everyone around them that no one deserves success and no one can ever succeed at anything. Self-improvement is a waste of time and should not even be attempted. These people will always present barriers to anything a friend proposes that might improve that friend's position relative to their own. They always perceive a threat.
Perhaps more of a problem is the internal barrier that comes from being around people and a local society that believes one can only do what their families and neighbors have always done. This idea prevails in older manufacturing communities where everyone is expected to work for the company where their relatives have always worked. Similar ideas may prevail in farming, fishing, and other mostly rural areas where specialized occupations have long existed.
Can these attitudes and objections from unsupportive people who are important to us be reduced or overcome? Of course they can and they must be for entrepreneurs to succeed. Please understand that EVERYONE experiences these very same pressures; some people seem to be able to roll right over them while most people fall by the wayside over one or more of these barriers. Here are some ways you may defeat the naysayers.
STUPID SCAM
Dr. Joe Rubino believes the way to answer objections like "scam," "pyramid scheme," "no money," and all the millions of other objections people throw in a new entrepreneur's face is to not answer them directly. Why? You will always get into a confrontational situation with the objector and eventually become defensive. It's the same as trying to impose your ideas on your teenager; they hear nothing you say because it comes out as "blah, blah, blah." What one must do is figure a way to involve the other person into the answer in a personal way.
Instead of a direct answer, Dr. Rubino advocates a "listening" technique originated by Richard Brooke. Using this method you ask what, exactly, is meant by the objection and carefully pay attention to what your objector says. Continue to ask similar questions to further define the supposed objection until you feel in a position to involve your questioner in a way to assure a positive response. You probably have only one chance at a "yes" so ask until you feel secure of your position.
How well this technique works is attested by the success of Richard Brooke himself. After high school he worked at various entry level jobs including at a gas station and a poultry farm. When he was 22 someone introduced him to network marketing where he made his first million before age 30. The methods he and Dr. Rubino propose really work; have confidence in them and try them for yourself!
SPOUSE SAYS EXACTLY THE SAME THINGS
In "Tips for Dealing with an Unsupportive Spouse" Rachel Hoffman says many things can cause opposition from the most important person in one's life-their spouse. Many of the objections aren't with the home based business itself but with real or perceived results of operating such a business. This could be many things, but here are three.
Money. Usually this will be the loss of a steady income from a "real" job or failure to seek employment in order to operate a business from home. It could also be the perception that the business owner is throwing money away on things that will produce an uncertain income at best. Maybe the money could pay for a vacation, or a new car, or most anything the spouse would like. Often partners don't hold a home business in the same level of interest as the business owner. ANY expenditure might be extravagant. A well-developed business plan showing when and how much money will begin to flow will go a long way toward resolving these issues. This may require creative ideas because a business will not become profitable overnight; it sometimes takes several years.
Misunderstandings about quality time. Many couples have trouble communicating; quality time spent together talking or doing mutually interesting things is supposed to facilitate better communication. A home based entrepreneur will place great importance on operating their business; this takes time. Sometimes a spouse not involved in the business will feel neglected and out of touch with their partner when the entrepreneur is doing their business thing. A possible solution is to involve the spouse in the business in some way perhaps as an advisor or helping with office chores, accounting, mailing, or other duties.
Performing daily chores around the house. A stay-at-home mom or dad will be able to do basic requirements of caring for children just by being at home. But what about little extras a spouse may like such as shopping, running errands, preparing elegant meals, and other special things? The way to resolve this (and most other problems as well) is to have an honest unheated discussion and negotiate solutions to issues.
SELF-DOUBT
Feeling that you might not have the ability to succeed in something often produces self-perpetuating and self-defeating actions. Peggy Mcnamara refers to what she calls "creative avoidance." It causes people to do busy work or anything trivial to keep from doing things they find difficult or unpleasant, like prospecting or cold calling. This concept can be carried over to thinking people disapprove of your actions and even may apply to fear of rejection. People need to identify these creative things they do to avoid situations and figure a personal strategy to get out of the avoidance syndrome.
Self-doubt is something completely within the control of the individual. It's up to each person to overcome any doubts they have. One important source of help is "Think and Grow Rich" by Napoleon Hill. Mr. Hill said "the most powerful instrument we have in our hand is the power of our mind." Another book helpful for restoring self-confidence is "The Power of Your Subconscious Mind." In this book Joseph Murphy outlines the unbelievable power within each of us.
John Watson discusses some active techniques to build confidence. In addition to the martial arts he teaches he has participated in Tony Robbins' firewalking seminar. When you do something like this you absolutely know you can do anything. If you have doubts do what you must to cure them and move on to great accomplishments.
WITHIN THE LIMITS SOCIETY IMPOSES
When Woodrow Wilson was president of Princeton he is quoted as saying to a group of teachers:
We want one class of persons to have a liberal education, and we want another class of persons, a very much larger class, of necessity, in every society, to forgo the privileges of a liberal education and fit themselves to perform specific difficult manual tasks.
The dean of Stanford's School of Education further said:
Our schools are ... factories in which the raw products (children) are to be shaped and fashioned .... And it is the business of the school to build its pupils according to the specifications laid down.
These ideas are expressed in this article. The author, Gatto, concludes the real purpose of our required public education is to turn our children into the servants of society. This is why everybody says "You can't Do That!" So what to do?
We need to teach our own children outside the school system to be self-reliant and think on their own. Don't let others design and control their lives. The object should be to teach our kids to think in ways that showed David Farragut how to take command of a captured British warship as a pre-teen, enabled Thomas Edison to publish a broadsheet at the age of twelve, and helped Ben Franklin to apprentice himself to a printer at twelve and then put himself through a difficult course of study at Yale. When we do this there won't be objections to entrepreneurial thinking. Meanwhile we must do what it takes to replace our own doubts with self-assurance so we can drive on past those who say "No."
DO BETTER THAN THEY
Scott Lamm shows a way to overcome objections from people who are afraid you will do better than they. These negative ideas appear instantly anywhere and at any time an entrepreneur has a creative idea. Those who have been through this several times have learned to just drive on through the negative smoke and get on with their projects. New entrepreneurs face a much more difficult situation because they must first convince themselves their idea can work. With all these "knowledgeable" people saying it can't be done the faint hearted will always fall by the wayside.
So how can you get through these difficulties? Scott Lamm says there are three things you can do:
Take a stand that you will not be discouraged. Use the negativity of others as fuel to light a fire under you forcing you to move on toward success.
Make a plan listing reachable goals.
Work the plan by facing your greatest fears first and overcoming them.
Lamm says strict adherence to this schedule will empower you to overcome critics and all other obstacles. Pay attention to these ideas to work through your own hesitation.
FAMILIES AND NEIGHBORS HAVE ALWAYS DONE
When children grow up in an established manufacturing area they begin to develop the belief that the whole world turns around whatever local jobs their families and friends are doing. People who grow up in this kind of atmosphere don't know what an entrepreneur does and usually they never consider doing this kind of work. When someone comes up with an entrepreneurial idea no one knows how to handle it so they just all say it's impossible. You must have the resources of a powerful corporation behind you before you can do anything. A way must be found to get out of this kind of thinking. Sir Ian Wrigglesworth, a prominent public servant and successful businessman in Northeast England, overcame his early life in a community with just such a mindset that does not recognize entrepreneurship. His success shows anyone with determination can succeed no matter what others say.
You must ignore your critics and just move on with your plans in spite of these people. You have got to have the self-confidence to do this.
Fire Your Boss When You Are 30: Start When You Are 18
This report applies to college graduates as well as those completing high school. The college person should act as soon as they read this; they have already lost valuable time. We’ll begin by explaining WHY you need to have your own business (even if—especially if—you’re employed elsewhere). Then we’ll discuss HOW.
Age 18 is the starting point because that is the age of legality. You have to be able to make agreements without the consent of your parents to have your own business.
High school and college people are all young enough to think they are invincible.
They are armed with tremendous knowledge, and they can change the world and live happily forever. That is, until the first pink job-termination slip comes and payments are due on that spiffy new SUV. There may also be family considerations. Everyone has to have a roof over his or her head, clothes, and food. Health also is not usually an issue for young people, but the very lifestyles we all enjoy are beginning to sicken us. Nothing is ever secure and certain, especially in the present economic climate.
Think for a minute what you are to your employer.
No matter the level of your training when you go to your first job, you know absolutely nothing. Everyone requires some amount of orientation to learn about the company environment. You will probably never specifically use much of what you were taught in school. You will learn about ongoing processes in your company and go from there. In time, you will become an asset of some economic value to your employer. You’re human, but after that you are much like a computer or machine that has been purchased.
When buying machinery and equipment, what happens? The buyer tries to negotiate the lowest price. The same thing happens when an employee is hired. You are paid the lowest amount required to get you to work. That may be hard, but it is true.
Then, when the economy sours and business is off, who goes first? Absent a requirement for experience or unusual ability, the oldest will go first, then the highest paid and those with the longest service time or seniority.
Why? Because these classes of employees:
Make too much money
Have too many health problems
Know too much about the company and its managers
Aren’t as attractive as younger people
Resist change
May soon be eligible for expensive retirement benefits
In an interview with the Washington Post (WWW.washingtonpost.Com/wp-srv/ liveonline/01/politics/johnson110201.htm), Heritage Foundation Economist Dr. Kirk Johnson said economists generally believe the “natural rate of unemployment” is about 6%. In fact, according to the U.S.Bureau of Labor Statistics, since 1939, there has been no decade without at least one year of unemployment exceeding 6%. That’s for the entire year, not just a month or two. In all of those years of relatively high unemployment, many persons were unable to find work.
If your job is terminated for any reason, or if you leave the workforce for a time and try to return, you may have difficulty. Where you live and the state of the economy may have a lot to do with your chances of finding employment.
If you are over 30, your problems begin to accelerate. This is why you should be able to fire your boss if you want to or if you must.
What is happening at this time in your career? “I just started,” you say. Your employability could change quickly.
Consider these facts:
If you had a good job before being unemployed, your previous pay scale may be a barrier. Even if you are willing to accept less pay, your employer is likely to believe you will be dissatisfied. Given a choice, the employer will likely choose someone who isn’t used to making a lot of money.
Sometimes a high level of education works against you. You may be willing to take a job below your skill level, but an employer is likely to view you as a potentially unhappy employee if you are overqualified for your job (and your salary). You may be expected to take a better job as soon as one is available; the employer will then have to go to the effort and expense of finding and training a new person.
Soon your age will also become an impediment to finding a new job.
When you’re 30, you’re still a viable employee with seemingly endless opportunities. This isn’t so in reality. You begin to lose much of your employment flexibility around age 35!
When you’re 40 you are out of the desirable hiring group. Proof of this is the age bias law covering employees 40 or older. This is the Age Discrimination in Employment Act of 1967.
The law sounds fine, but without an overt act by a company manager, you’re toast after 40. You can’t stop potential employers from considering your age in their mind, can you? They will act on what they are thinking and little of this will help you as birthdays mount.
There is no loyalty in the job market, and employees know this. They begin to try to manage their own destiny early. CNN quotes a study by the National Association of Colleges and Employers, in December, 2000, money.cnn.com/2000/12/11/people/ q_college/index.htm as saying 25 percent of college graduates leave their first jobs within five years. Although the article cites a strong economy as one reason for this situation, the fact remains that this trend continues to be a factor for many businesses.
Assuming most college graduates are 22 or 23 (unless you are on the increasingly common six-year schedule) five years will bring you close to 30 years old. You need to be able to fire your boss, as stormy years are approaching for your career.
In "Die Broke" by Stephen M. Pollan and Mark Levine (Harper Business, First Edition, 1998), the authors deal with some facts many people don’t want to acknowledge: There is no such thing as job security, and to seek such a position in today's job market is useless and very frustrating.
"Die Broke" provides a great solution to this problem. Wherever you are, whatever your age, “quit your job”…at least in your mind.
To quit—in your mind—just realize your job does not define you. It is simply a way of making as much money as you can.
Constantly keep a current resume and do your networking in order to stay in the highest paying job you can find. The authors call this the “Mercantile Ethic”; you work simply to increase your earnings.
This is an excellent plan, but remember you become less able to do this after 35. Therefore, your home-based business is a must for your future financial security.
Also, consider this chart showing the employment situation for each of the 50 states:
Current Unemployment Rates for States and Historical Highs/Lows
SOURCE: Bureau of Labor Statistics
Current Unemployment Rates for States and Historical Highs/Lows
Seasonally Adjusted
Mar. 2003p Historical High Historical Low
State Rate Date Rate Date Rate
ALABAMA 5.7 Dec. 1982 15.6 Aug. 1998 4.1
ALASKA 6.8 Aug. 1986 11.6 Nov. 1998 5.6
ARIZONA 5.9 Feb. 1983 11.7 Jan. 2001 3.7
ARKANSAS 5 Feb. 1983 10.5 Nov. 1999 4.2
CALIFORNIA 6.6 Feb. 1983 11 Feb. 2001 4.7
COLORADO 5.7 Oct. 1982 8.8 Jan. 2001 2.6
CONNECTICUT 5.2 Feb. 1992 8.2 Aug. 2000 2.1
DELAWARE 4.1 Jan. 1982 9.1 May-88 2.9
DISTRICT OF COLUMBIA 6.4 Jul-83 11.9 Nov. 1988 4.4
FLORIDA 5.3 Mar. 1983 9.7 Jul-00 3.5
GEORGIA 4.6 Dec. 1982 8.5 Mar. 2001 3.5
HAWAII 3.7 Sept. 1978 7.8 Jul-89 2.3
IDAHO 5.5 Jan. 1983 11.4 Jan. 2001 4.4
ILLINOIS 6.6 Dec. 1982 12.9 Apr. 2000 4.1
INDIANA 4.7 Nov. 1982 12.7 Sept. 2000 2.8
IOWA 4 Jan. 1983 8.9 Nov. 1999 2.3
KANSAS 4.7 Aug. 1982 7.5 Jun-78 2.7
KENTUCKY 5.7 Dec. 1982 12.6 Apr. 2000 3.8
LOUISIANA 6.3 Sept. 1986 13.6 Dec. 1999 4.7
MAINE 4.5 Feb. 1983 9.9 Jan. 2001 3.3
MARYLAND 4.5 Jan. 1982 8.7 Jan. 2000 3.5
MASSACHUSETTS 5.7 Jul-91 9.6 Aug. 2000 2.5
MICHIGAN 6.7 Nov. 1982 16.3 Mar. 2000 3.1
MINNESOTA 4.4 Feb. 1983 9.2 Apr. 1999 2.4
MISSISSIPPI 5.9 Feb. 1983 13.8 Feb. 1999 4.7
MISSOURI 4.8 Apr. 1983 10.6 Jan. 2000 2.9
MONTANA 4.2 Mar. 1983 9.2 Feb. 2003 4
NEBRASKA 3.7 Jan. 1983 7.1 Jun-90 2.1
NEVADA 5.5 Feb. 1983 11.6 Jun-78 3.7
NEW HAMPSHIRE 4.1 Jul-82 7.9 Mar. 1988 2.2
NEW JERSEY 5.9 May-92 9.4 Feb. 2001 3.4
NEW MEXICO 5.9 Feb. 1983 11.7 Mar. 2001 4.6
NEW YORK 6 Apr. 1983 9.2 Apr. 1988 3.9
NORTH CAROLINA 6 Feb. 1983 10 Jun-99 3
NORTH DAKOTA 3.7 May-86 6.7 Oct. 1997 2.3
OHIO 6.1 Jan. 1983 13.8 Mar. 2001 3.6
OKLAHOMA 5.1 May-83 9.7 Feb. 2000 2.9
OREGON 7.6 Jan. 1983 12.4 Mar. 1995 4.4
PENNSYLVANIA 5.8 Feb. 1983 13.1 Apr. 2000 4
RHODE ISLAND 5.3 Oct. 1982 10.9 May-88 2.7
SOUTH CAROLINA 5.9 Feb. 1983 11.7 Mar. 1998 3.3
SOUTH DAKOTA 3.2 Feb. 1983 6.3 Mar. 2000 1.9
TENNESSEE 4.8 Dec. 1982 12.8 Mar. 2000 3.7
TEXAS 6.7 Oct. 1986 9.4 Dec. 2000 3.8
UTAH 5.8 Apr. 1983 10.5 Mar. 1997 2.9
VERMONT 4.1 May-83 7.5 Jul-88 2.4
VIRGINIA 4.2 Mar. 1982 8 Jul-00 2.1
WASHINGTON 7 Nov. 1982 12.5 Nov. 1997 4.4
WEST VIRGINIA 5.7 Feb. 1983 19.5 Oct. 2001 4.7
WISCONSIN 5.5 Jan. 1983 12.7 Jun-99 2.8
WYOMING 4.1 Feb. 1987 10.7 Apr. 1979 2.2
Note: Data series begin in January 1978, except for California, where it begins in January 1980.
Rates shown are a percentage of the labor force.
p = preliminary.
NOTE: Data refer to place of residence. Estimates for recent years are provisional and will be revised when new benchmark and population information becomes available.
Historical highs and lows show the most recent month that a rate was recorded in the event of multiple occurrences.
Last Modified Date: May 8, 2003
If you live in a state with 5.5 % unemployment or higher you will have difficulty finding a new job.
There IS a better way!
There is a new business model made easier by Internet technology. It provides a way for a person to devote a small amount of time each week and gradually build a business with great flexibility in a few years. It has the power to provide an income in six figures.
So, if your job is terminated, if you are laid off, if you become ill, or you just get tired of the hassle, so what? You don’t need to work for anybody but YOURSELF!
Everyone won’t have the vision to see how such a business really works. A doctor or lawyer making perhaps hundreds of thousands of dollars each year is likely to scoff at anyone’s ability to spend a small amount, perhaps just $29.95 per month, to make any kind of serious income.
But many successful entrepreneurs have done just that.
How do you start a home-based business?
Excellent blueprints for success are right in your MoneyPak. There are interviews with successful entrepreneurs who have appeared in past issues of SFI Magazine. These may be viewed from your MoneyPak or online at IAHBE (www.iahbe.org) under the MoneyPak section. Pick a month, and you’ll find archived interviews.
In Volume 5, No. 4, Charles Fuchs tells how he became a Diamond in Lifeforce International in just five months. His best month at the time of the interview was $57,000.
The story of Jennifer Ambrose is in Volume 6, No. 1. Her business is Empowerism and she was profitable after one month. At the time of her interview, her monthly income was $20,000.
Gery Carson has written two books about great entrepreneurs. His latest one is "The Home Business Revolution’s Greatest Entrepreneurs, Volume 2" (HBRGE), Carson Services, Inc., 2003.
Joseph Lemire is interviewed in this book. Mr. Lemire represents Pre-Paid Legal Services. Although he did not specifically say what he makes in a month, he did indicate it’s about what many make in a year.
There are many other success stories in Gery’s HBRGE books and there will be more to come as free book-of-the-month offers with your monthly MoneyPak. There’s no need to re-invent the wheel. Study these interviews and fit their ideas into your plan.
If you’re interested in one of the businesses you find here, contact the person mentioned. They may not directly put you in their downline, but they will surely place you where someone will be happy and able to help you get started.
There are more ideas about succeeding in a home-based business in “Stories About People With Successful Home-Based Businesses” in the March, 2003, MoneyPak. If you don’t have the CD, you can find it on the IAHBE site.
There is an enormous amount of help available right at the IAHBE. Add the resources from SFI, and you have everything you need to succeed. Use all of it.
If you are already older than 18, don’t hesitate. Start your plan to make your own job and fire your boss whenever you want. It’s your key to financial survival.
Save Yourself—Quit Your Job Now!
Work by human beings is a wonderful thing. It produces goods and services we need and provides a way for us to have money to take care of our needs. Doctors and medical technicians help us maintain our health, and creative people give us nice objects to look at and use.
In The Protestant Ethic and the Spirit of Capitalism (A. Giddens, Trans.), New York, Routledge, 1930/1993, Max Weber argued that, when the way people view their workplace emphasizes what they do as a means toward other ends, human beings unwittingly allow themselves to be imprisoned in an "iron cage." In this view, work is slavery!
There is a right and wrong use of work. Aside from the slavery angle, in much of the world, work is used to actually define an individual. Where you work or what you do is who you are.
This was painfully shown to me a few years ago. Newly married, I left a low-paying, high stress job at a bank for a much higher salary in the textile industry. The bank was considered a more socially accepted place to work than a mill. After all, people remembered when the mill owned all the houses and the workers were low-lifes who could not even afford a place to stay. My family was suddenly shut off from all social functions and many friends deserted us.
At the time, I was just disgusted and saddened. Now I know it was a manifestation of the idea that one’s work is what they are. I eventually realized this and quit with no job and no retirement; no nothing. After surviving some really bad years, my mission now is to show everyone that they don’t have to work for a single company, or in the same profession, all their lives. There are ways to spice up life, provide more time for things you really want to do and yield the desired income at the same time. The Internet has made this more possible than ever.
My Daddy, a minister for 66 years, showed me most of the ideas here. I didn’t realize what he was doing for a long time, and he had no clue he was doing anything like what I will describe.
He was totally focused on his ministry. Daddy tuned out the world, tried to avoid the news, and never spoke of retirement. Health forced him to stop when he was 85, and he just started to go away because he had nothing else to do. You’ll never get me to stop!
During his life Daddy, had seven active pastorates. He said he retired at 65 for a few years, but he actually continued preaching at some church every single Sunday and held a few revivals. More money was never a challenge in his life, but Daddy was always looking for a larger group to influence. He always moved up, until later in life when he kind of relaxed so he could keep on doing what he loved.
So, what did I learn about work from my father?
Stay focused on your main ideas; this can include more than one, but don’t run in every direction. Constantly look for a challenge and never think about quitting. These are my life goals, and I suggest everyone—doctor, lawyer, accountant, or anyone—adopt these plans. It’s the only way to have the money you want in a stress-free environment. Here’s how to reach these objectives.
Something common among new entrepreneurs is the inability to see a project through to its ending. Internet entrepreneurs change businesses every day or two. This infects many brick and mortar people, too. Several of my affiliates have this problem. I get stuff all the time about some great new thing someone has found. Others get so tied up in lotteries and casinos that pop up there’s no time for work. You must decide what you intend to do and stay with it. Written goals are necessary to do this well.
I once reviewed Die Broke by Stephen M. Pollan and Mark Levine, Harper Business, First Edition, 1998. Many of the ideas in this book are similar to my own. To have enough money to get through life the way you want takes some effort. Die Broke elaborates on the idea of quitting your very first job just as soon as you begin; in your mind, that is. This means constantly changing employment when more money (or benefits = money) opens up for you. You will have more funds to invest or just have money available to enjoy.
If you have a job you already have a resumé. You also have many contacts, so keep an up-to-date account of your abilities in front of these people. At some point, they may need you and be willing to pay you more than you are making. Always network. Who you know means everything. Join any organization where you have interests and make sure everyone knows you and your qualifications. You may even ask your contacts to review your resumé. Ask for an interview where you ask them about their business because you want to know all about it in case you decide to apply for a job. All this will keep you in front of decision makers who will be able to hire when you apply for that high paying job.
About retirement: To remain mentally and physically healthy, one must have a compelling reason to get up in the morning. There must be something you just have to do. The unhappiest retiree I know plays a little golf, travels a little, and sleeps most of every day. He sleeps so much to forget that his stock investments are going up and down all the time. He has nothing to get up and do. This is why no one should retire. Why live, if all you do is sleep?
At every stage in life, a person should build income streams as they become available. A very good discussion of this is in Die Broke, mentioned above, and Multiple Streams of Income by Robert G. Allen, John Wiley & Sons, Inc., March, 2002. Read these and do as much of what they say that suits your way of life.
So how do we live a happy, low-stress life with enough money? Do these three things:
Stay focused
Look for more income
Never retire
Most people need to work for others in the beginning of their adult lives. If you must have a “real job,” here are some helpful places to check:
Internships for students and recent graduates can be located HERE. Every employer looks for people with experience to hire for jobs they want to fill. But how can a first-time job seeker gain any knowledge if they have never before worked? This is the value of working as an intern, even if the pay is little or, in some cases, nonexistent. This Website offers opportunities for those with little experience to be able to tell a prospective employer they do, indeed, have work experience.
If you are a student or anyone looking for seasonal work, this Website is the place to look. Here you will find staff positions at camps, environmental groups, national parks, and other irregular work sites.
Monster.com is a very large database of all kinds of jobs. This site offers help with writing resumés, deciding the optimum job for you, and it even has a means to help you determine what your job is worth in terms of pay. If you need additional education, they have many programs available to help you. This is a one-stop all-purpose employment office.
International employment is available HERE. There are jobs all over the world for professional people, expatriates, and adventurers. When you find an interesting employer, you can examine a profile of the company to see if it meets your needs. You can even narrow your search to a desired location.
This site lists many worldwide resort-type jobs. If you want to work at a ski resort, or on a cruise ship, or in a hotel or restaurant, this is where can find many such jobs. They offer profiles on all their employers to help you decide if you want to work there. You may even be able to find a resort-type opening in the area where you live.
There are very many job opportunities with the U.S. Government. This Website gets you into the entire database of available government jobs. You can find out how to apply and see a list of current openings. There is a special section describing resources to help those with disabilities. Homeland Security job opportunities are also listed in a special section. On this Website you can learn about the hiring process and examine career opportunities. There are links to all federal agencies and a description of government benefits.
While you are finding and accepting one of these jobs, never forget to begin quitting “in your mind” as soon as you begin the job. Always continue looking for a better job, a better business opportunity, and for any additional income source. Do this constantly.
And always look for a way to work for yourself to avoid the unintentional slavery of working for someone else.
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