The other day, I bought a pair of shoes, not the flats I originally set out to buy but instead, a pair of fancy stilettos that were well, too fabulous to resist.
This purchase led major purchasing contemplation. I've always bought what I wanted (within reason) and paid my credit card off in full at the end of the month but, and I hate to say this, the recession is really affecting me. When I actually sat down do a serious budget (again), I realized how my grocery expense had increased by at least 20%. The tissue boxes at Family Dollar used to be $3.50; now they're $4.50. A half-gallon of ice cream used to be $4.99; now it's a quart and change (damn company shrunk the carton thinking folks wouldn't notice) which means I have to buy the Cookies & Cream flavor frequently. For the first time I bought some random brand of chicken because it was on sale. My commitment to Perdue could not be sustained when a pack of their chicken is $6.39/lb. I had to buy the $1.99/lb no-frills brand sale joint I never heard of. I cut back on the cab rides, started washing some dry clean only clothes in the washer but my dollars still seem to be disappearing.
On top of that, the NYC Comptroller William Thompson announced that over the next two years, NYC will lose 165,000 jobs; 35,000 of them will be in the financial services sector. And my friend was layed off recently - 1 of the 35,000 jobs the comptroller talked about- already. In a way, I've been able to rebuke this talk of recession. I was having a great life, living it up over the summer but when my friend lost her job it was like the dude at the end of Spike Lee's School Daze screaming, "WAKE UP!!!!!!" I'm up, I'm up, I'm up!
A departure from the usual mélange of musings but this incessant talk of recession is troubling. So my new shoes isn't really the problem (though I could have paid a bill or two with that money) but I'm looking at ways to cut back and with the exception of using candles instead of Con-Ed and eating Ramen noodles (never had those), my coffers are looking mighty low. I even thought about getting a second job but truthfully, the idea of working at some mindless retail job for $12/hour is even more depressing.
This all brings me to this - entrepreneurship. According to the comptroller, almost 1 out of every 5 persons is self-employed. Besides the computer technology industry, seems like folks should be moving their business ideas forward.
So, is anyone finding more financial success as a f/t entrepreneur? Anyone have a side hustle that is bringing in some good bucks? Anyone lost a job and is now branching out on their own f/t? Or, let us know your cutback plan.
Share your story folks!
Lata Lovelies,
-Betsy Ice
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4 comments:
You know how on those sweltering summer days, you see people hawking bottled water at every corner? Well, I plan on selling tea and coffee this winter at major intersections. ENTERPRISE baby, ENTERPRISE! Look out for me at Flatbush and Atlantic. Holla
GWDJCO
Betsy,
Tell your peeps this:
The mindset of an entrepreneur is different than that of a 9-to-5er. You don't depend on getting $$ ever 5-10 days consistently so you handle your money differently.
I' ve been working for myself for 4 years straight running Dream Relations my PR agency www.dreamrelations.com and although there were rough seasons...(i emptied my change charge at least 1x year) I still get $300 dollar weaves, I travel more than any of my immediate friends, I dine out 3-4x month with $100+ tabs for just 2ppl, ohh and let me say I don't have credit cards, so anything I do I do it with CASH, all because of one thing!
I tithe and give an offering to God! For the non-Christians look it up if you don't know what Tithe means--it's a tenth of your earnings. I know many of you corporate types who save your money in these ever changing banks can't even fathom giving 15-20% of your money away to church, but it's really to God.
I am a living testimony!!! Even my accountant has looked at my tithing and say... "damn that could've been a down payment on a Benz, hahaha."
Yeah I know that, but I don't go without anything and there have been many occasions where my lifestyle has been more financially free than many I know. Betsy can vouch for that.
The bottom line is, you all are employed or not employed because that is what God wants. Bottom line!!!! There is no debating that so don't even try!
Ask yourself: "what is the purpose of me being at this job or being unemployed at this time?" Maybe your are umemployed so you can visit family that you haven't seen in a while or maybe you are a single mom who now can make breakfast for your 5 year everyday, maybe your are an artist and God needs you to work on your own and not so much on someone elses.
Ask God what is the purpose for your life, for many it sure won't be working in some corporate cubicle.
No client or job can control how much money you make, only God can. So if you believe in Him and invest your 10% and better into Him you will never go without and often times live better than most.
God is the same yesterday, today and tomorrorw--His Stock Never Falls--regardless of who the President is!!!!!!
God's kingdom is full of riches. I am a child of a King, therefore I can go to my Father (God)anytime for anything.
My dadddy has more than Bill Gates will ever see..nanananannana
Get to know God for yourself and what he says about supplying ALL of your needs according to His riches in Glory and "recession" will just be another word in the English language.
AMEN!!
Since I started my business a few years ago I have never worked so hard in my life. When the money comes it's put right back into the business - but am patient and with growth, I too will reap the rewards. I would be remiss if I didnt mention however, frivilous spending is a no no even on the hottess shoes (and God... do I luvvvvv some hot shoes), unless you are TRULY debt free and your finances are tight (tight as an in order - with a phat emergency account) especially with all of this economy's uncertainties.
But I think the initial question was about entrepreneurship right??? either way, it is hard work BUT absolutely one of the best things a woman can do for herself.
Sister Dawn....Amen!
please visit me at virtuallegalservices.blogspot.com
I lost $50K last year, due to customers not paying their bills and canceled project. When you hear the politicians talk about how hurting small business are, you can think of me. I've taken a direct hit. On the other hand, I have on deck the potential to make more than $200k next year, if my current project deliver as planned. I've been covering for the losses with my personal income and my saving is hurting right about now. So, I'm just rolling with the punches.
"Life is full of challenges, overcoming these challenges is what makes it meaningful"-unknown
Before jumping head first into a business, be sure you're doing it for the right reasons - Money, is never the right reason. The money will come, if you do what you should.
As Dawn said, being in requires a different mindset from that of a job. In addition to how money is handled, the concept of "night" and "weekends" also carry different meanings. For a 9-to-5er (as Dawn puts it), it means rest. For a business owner, it's an opportunity to improve the business and/or catch up on things.
Nevertheless, the beauty of entrepreneurship is the ability to find solution (as an entrepreneur) where others don't. This is why entrepreneurs are often recession proof, as they thrive on creating opportunity where there is none - making lemonade out of lemons, to borrow from the timeless cliche.
With that said, if you've found a niche that is currently not served, then by all means, serve it.
Bill collectors are making a bundle this season, and so are repo-men :)
If many of your friends are losing jobs, or you expect a huge job lost, pull out your contact lists and find out who will need short-term help. Find temporary jobs for these people after they're laid off. Congratulations, you just launched yourself a Job Placement agency. Or, setup shop to help these people update their resumes, many of them will be returning to the job search market after years of employment with the same employer. Help them get up to speed with what's current. Congratulations, you got yourself a Resume Support agency!
As writer, Betsy *hint*, perhaps you should consider collecting their stories and write a book about the economic developments from their perspective. Congratulations, you got yourself a new book - "How Casting The Wrong Vote Cost Me My Life. Vol 1".
Bonus: Find out who they voted for in the last election and find the correlation between their votes and the lost. Priceless.
Yup, I'm a genius.
But...
Whateva!
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