Pam Slim has not done her podcasts for several months, but I would recommend them highly. Search “Escape from Cubicle Nation” on iTunes, and you’ll find her podcasts. From her blogs and podcasts, I see her as a very honest straight shooter when it comes to career planning. Her blog is REALLY good – full of unique insights and different ideas.

As someone who is testing the waters with a side job, I’m looking forward to reading the book.

I think it’s important to note the recent Money Magazine issue cited more than 44 million people are freelance/contractors/self-employed. And by the end of the year, this number will grow to 40% of the American workforce classified as such.

It’s a mistake to not plan for some shape or form of entrepreneurship. At the very least, it keeps you on your toes at your day job.

When you lose a client as a self-employed person, you loose a percentage of your income. When you lose your one job, you loose 100% of your income. That was the wake up call that made me realize more stability could actually be found working for myself. You have to learn how to manage your finances a little differently, but as long as you’re making the income you need when looking at the big picture (even if some months bring you $1,500 and others $5,000), you should be able to manage.

I’ve crafted myself to be a full-time entrepreneur with several different enterprises or skill/services I sell. I’ve found if I cannot make enough doing one skill, I divide my time doing a completely different skill I’m good at and enjoy. Put it together and I have a complete income. The secret is choosing a specific niche where the clients/customers have to have YOU.

So to those thinking one business idea isn’t enough; why not consider running two part-time business ventures? You know you’re getting crafty when you can find a way to make the businesses meet — ie. I’m a freelance writer that teaches swimming (so I often write and sell swimming articles).

I think it is also crucial to realize that you’re choosing a different lifestyle when you freelance. If you like the structure of cubical life, that’s fine. But myself; I’ve always known I’ve needed to approach my work life with creativity. You have to have that craving for something different to accept the way it flows.

But then again, if 40% of the workforce is going to be freelance, you’d be start learning how to adapt. I remember a time when it was weird to want to do your own thing!

For anyone out there who has ever asked this question, this is a GREAT book, where Bronson interviewed over 900 people (wrote about 30 of them) where each person tells about their journey in discovering themselves, and the adventure in finding what they should be doing in life. It’s not all roses, some are still searching, but it was interesting to see so many people struggling to find where they fit.

However, starting up a business is definitely not for everyone. Along with needing a very broad set of skills, an entrepreneur really has to be quite thick-skinned to deal with all of the ups and downs.

And, I believe it is possible to have as much satisfaction working for a company as it is to start one. There are a lot of companies out there that endorse the entrepreneurial spirit of their employees through product development.

My grandfather took over a small business over 50 years ago (owner retired.) My grandfather retired decades later and handed the reigns to my uncles. The business had 5-7 employees up until about two years ago, when it expanded its product line and increased its payroll to over 25 people. I worked there for a few months 3 years ago and felt more like a business owner than employee, and all I did was package products and load them on the UPS truck.

Even if you aren’t involved in the start-up of a small business, your job in a small business has a much different feel than at a large corporation. Reading books like this doesn’t mean you have to or want to start your own business. There are downsides as I mentioned in comment #13. And as Pam Slim said in comment #16 and on her site and in her book, entrepreneurship isn’t for everyone. Each person needs to determine her own best skills, abilities, and desires, and make career choices with those in mind. For instance, if you want to be a Jack Welch, starting a small business isn’t for you. GE was huge when Jack began working there. He was good at corporate politics and at bringing good teams together. Still, it doesn’t hurt to read a book like Slim’s, as it can sharpen skills that can help in any job and/or reinforce your aspirations.

I wonder if that stat is different now that people can start businesses online with very little cost and potential high returns? Of course, starting a business online isn’t easy either, but at least the initial investment is much lower.

I feel like I and many other writers actively seek examples outside our own experience, outside of writing. At GRS, for example, I’ve shared entrepreneurship tips from people who have done children’s entertainment, opened cheese shops, written computer software, and more. None of these are big corporations, it’s true, but I’m not convinced that *anyone* sets out for an ambitious goal (electric car, to use your example) believing they can do it on their own. For things like that, you do need a team.

In short, I’m not convinced by your argument. It doesn’t mesh with what I’ve read. I don’t feel like people who write about entrepreneurship *are* overlooking the things you say they are. (Well, some of them are, but not most of them.)

Every single person writing about this seems to overlook this fact, because every single person writing about this wanted to be a writer, and writing is one of the things that you *can* do on your own. No one’s out there saying, “so you want to develop a feasible electric car? Why don’t you start your own home business, you’ll have more control over your life than in a corporate environment” because it’s too big of a project to do without the sort of team that generally exists in a corporate environment.

If all you have is a hammer, then everything looks like a nail. If all you have is a word processor, then does every job look feasible with just a laptop? The blogging community would make it seem so.

I’m also glad to hear that Slim doesn’t seem to be anti-job.

Every time I real an article like this I wonder if I’m really that unusual because I love my job. I’m a molecular biologist, and it’s just not something I could do on my own (at least, not without several million dollars to get set up before I could even do a single hour of fun “work”).
I mean, sure, if someone dropped out of the sky and offered me ownership of a company similar to the one I work for, I would take it, but only on the condition that I could actually get to do the biological work and not be stuck behind a desk doing boring business stuff.
I’ve had a small side business for over 5 years. In that time, interesting and educational though it was, I’ve learned that I don’t particularly want to run a business. I don’t want to worry about advertising budgets and supply chain glitches and ensuring great customer service. I want to test DNA and culture bacteria and find exploitable flaws in viruses.

We find ourselves slowly striking out on our own to establish a few more income streams — freelancing/contracting and income properties. Likely, at least one of us will remain employees somewhere until the medical insurance mess is sorted out (hopefully before we’re 65!).

By the way, we both work at home, so we’ve “escaped the cubicle” physically, if not quite psychically or financially.

Rob

And we are lucky we live in the internet days where everyone can do something if they really want to. Start a blog, showcase your skills, connect with people interested in your skills via Twitter etc and slowly it starts building towards being a full-time job / income…

I most appreciate Ms. Slim’s honest time table (years) to jettison the cube.

Perhaps that’s what puts her above the rest – her genuine, street-level point of view. Sure, get excited, but (to paraphrase Ms. Slim) hating your day job is not a business plan.

She’s going to be in Seattle July 10. I’m waffling. I’d love to interact, but is that simply my impulse and ego impersonating work vs. sitting and working?

I bought the book a few weeks ago, and I’m slowly working through it after going through it the first time. There are a lot of quotes, which bothered me a bit at first, but it’s all very relevant so in the end I don’t mind it so much. I think there is a lot of tactical advice in the book, and it falls in line with where I’m at right now. I need to find something that makes me happy. It’s okay if it pays less than what I make now–I can’t spend 30+ years in a cube.

1. Even if your business is successful, most don’t make you rich, they typically earn you a reasonable living wage especially if you take into account the hours you put in. If 8 of 10 startups fail I’ll bet a very small percentage of the remain 2 of 10 make much more salary wise than the folks earned when they were working full time (probably less if you consider the hours put in). Hence, you really need to want to do what you choose to do.

2. Whether you’re looking at a running your own business or are working at a career, it takes real work and effort to be truly successful at either.

I’m cynical about this promoted idea that going off and running your own business is the mecca of fullfillment and will somehow make you rich and your life great. I grew up in a family run business and we weren’t rich. As a matter of fact were just this side of poor. Most of the people I knew who’s families ran restaurants, plumbing, dry cleaning, and other business’s weren’t rich either. Most did okay, if they lasted more than a year. I will agree that most of the people liked or even loved what they were doing, so I figure that’s the biggest trade off. But I know folks now who went to run their own businesses (successfully) and ended up coming back to the corporate world because they found they could focus on the parts of their work they really enjoyed and not bother with the other aspects that were more a hassle to them.

And speaking of hassles, if you think you’ve got issues with fellow employees or managers, stand infront of a customer having a meltdown over your product. Or deal with someone who won’t pay their bill, or trickles the money in, or tries to shaft you into doing more because you’re desperate for the work. There are plenty of hassles anywhere you work, they don’t go away or get better if you’re on your own, as a matter of fact they can get worse. Another reason to do something you really enjoy doing.

And thanks everyone for your comments. Here are my thoughts on the threads so far:

-I created the workshop for a number of purposes, the primary being the opportunity to talk with my blog and book readers in person. I have been writing about entrepreneurship for 4 years, and know that certain concepts are better experienced in dialogue rather than the one-dimensional format of a blog. My second intent is to stimulate the connection between readers in geographic areas so that people feel less isolated and alone. In my own experience, working with peers greatly accelerates progress and helps mitigate risk.
-Ongoing personal and professional development is a critical part of any career path. From a very traditional perspective, you could think of a student preparing for a career in medicine. Much experience will come from working directly with patients and learning from observation. But a critical part of gaining mastery is learning about the field through study, practicing under competent advisers through residency and learning on your own. My own path as an entrepreneur (13 years now) has been filled with a combination of reading books, feet in the street experience, input from mentors, and a bunch of specialized classes and workshops. A one-day workshop is one tiny piece of a much bigger learning plan.
-My philosophy on corporate vs. entrepreneurship is that all work is honorable. I loved my time as an employee and know that it is a great fit for many people. For others, it is a poor match for their natural skills, interests and capabilities. For these folks, I like to explain in a pragmatic way what you can expect on the path to entrepreneurship. I do not believe in the unicorns and rainbows version of starting a business. Nor do I think it is realistic to cling to the notion that corporate life is more stable than entrepreneurship, since these last 18 months have proved this to be false.
-My best advice to those interested in exploring entrepreneurship is to test and try it in small steps on the side of your day job. We can debate the merits of the macro picture for years on end. And in the meantime, those who are taking small steps each day, testing their assumptions and making course corrections will be much more likely to enjoy their work and be financially successful. There is no perfect solution for everyone. There is only the right situation for each individual, based on their likes and dislikes, demeanor, skills and philosophy.

Good luck to everyone with your plans!

-Pam

Plus I need a good book to read. Great post.

I’m a big Pam Slim fan. She rocks.

And for the critics, Pam does not espouse blindly following the “get rich quick” mentality. She more than anything wants to see you managing yourself as your own personal brand. Whether you choose to go into entrepreneurship or whether you want to stay in the employer/employee relationship.

If you want to stay in the employer/employee relationship, of course, she’d tell you to remember that they’ll get rid of you anytime it suits them, and that you have to manage your career aggressively, in a manner that will allow you to have the freedom to move around and stay on your own two feet. To never count on an employer as a sure thing and never let things like benefits be the reason you stay in a job. Don’t like the company/job? Tap into your network and find another job that suits you better. They’ll have benefits too.

In today’s world, that’s sound thinking.

However, not everyone can be an entrepreneur. Even if they have all the skills to start a business, some people just can’t handle the side effects. Studies show that the self-employed work longer hours and for less money than their corporate counterparts. Other side effects of owning your own business are unpredictable income, making 80% of your income in 3 months (hard for some to budget spending accordingly,) and the limited ability (or inability) to take a vacation. Now, if you’re a blogger, you can take a vacation by writing some posts in advance or publishing guest articles, but if you own a restaurant, can you afford to shut it down for a week so you can go to Cabo? Do you have a partner or employee that you can fully trust to run things while you’re gone? Will you be able to not think about your business when you’re on family time? Can you survive for up to a year to work full-time on your business while it grows enough to provide enough income for you to live on? For some, cubicle life is the perfect work balance, 40 hours and no stress at home.

I want to be self-employed. I am not discouraging others from that dream. Small businesses provide more jobs in this nation than large corporations. But employees still far outnumber employers. The interesting paradox books and articles like Slim’s bring is this: for you to succeed in the goal of owning your business, you need 3-20+ people to never read Slim’s book so they will be happily and productively working for you. Plus, you need to realize that, at least for a decade or so (less for the lucky,) your work/life balance will be sunk on the work side. The side business idea shifts the balance even more. J.D., you know this; it’s why you eventually left your job. For many years, you will work your 40 hr/wk job, then come home to work another 15-20+ hours with a chance that your side business will one day replace most of your day job’s pay.

I’m not trying to be a downer; just trying to be realistic. I hope I can become an entrepreneur, and I hope you can too, if that’s your dream. I’m prepared to work harder with the possibility that I won’t make enough money to pay my mortgage for many months. But, it’s kind of easy for me to have this mindset since I’m unemployed and making $500 per week would be a huge step up for me. It’s a lot harder to drop down from a $1,000 a week corporate job to a $500 per week business. The potential upside is that the business could end up making far more than a corporate job. The most important thing, though, is to find the source of income that allows you to enjoy your life the most. For some, it’s a business, for others, a cubicle.

Good luck all.

I think an interesting “Ask the Readers” topic in the near future would be working for someone else vs. being self employed. I was talking with a good friend last week who is self employed. I told him I envied his entrepreneurial spirit and the ability to “go it alone.” He told me he envied my work as a teacher and the set hours and guaranteed pay check and insurance. (I told him there was nothing “set” about the hours, so I guess we both misunderstood each others work.)

So many people dream of working for themselves and only find out the true benefits and heart aches after they make the leap. Take you for instance, what do you miss the most from the box factory in terms of security, or interaction. What bothered, (or motivated) you the most to drive you to self-employment and what have you learned about your decision over the past year and a half?

This book is on my list of books to read and, after reading the summary, I’m happy to report it is still on the list.

I am not in a position to strongly consider going into business for myself, but it helps to know what goes into making such a big decision, and this book seems to answer some of the questions I have.

In any event, per the first commenter, I would add that some folks do find their passion and then sort of fall into entrepreneurship with it. I am amazed at the stories I sometimes read about folks who start doing what they love and then the money will (sometimes) follow. Per Chris Guillebeau, sometimes, if you’re too smart, you can overanalyze things and fail at business (paraphrasing and, unfortunately, butchering his words).

I will be picking this book up if it’s out on Kindle.

I thought that Slim — and everyone else at the seminar — was actually pretty open-minded. Despite the provocative title, he’s not saying that everyone should become an entrepreneur. I felt that in many ways she was saying “do what works for you”. That is, if you’re happy with your job, then stick with it. Not everyone has a desire to own a business.

I’d say that Slim’s attitude toward traditional jobs is “cautious”. She’d probably say that you shouldn’t tie yourself to a company, especially a large corporation. You should keep options open.

So, in short, I don’t think she has a negative attitude toward jobs. She’s just trying to provide good advice for those who want to “escape from cubicle nation”.

Not the case; especially if you’re running a one-man or woman show. In order to make it, you’re going to find yourself doing all kinds of admin stuff that you thought you were getting away from. Unless it is in support of something you truly care about, you’ll easily burn yourself out again.