A Nation Of Entrepreneurs? The Next Stage Of The American Dream?

Karen- Yes, this is the trend as it always is when there are recessions. Recessions create job insecurity which is a good thing because people get laid off and rethink their lives. For most- it is an opportunity to make a lot more money working for themselves. I could care less about health insurance except for catastrophe insurance but regular health care- I always believed and have paid out of my pocket because I get great deals from the doctors we go to since we are cash pay. We pay WAY less in health care by paying cash and making deals than our health insurance would cost us. ( unfortunately certain politicians want to take that right away from us). Health insurance is a scare tactic and over-rated. People go to the doctor way too much because they have the insurance to be able to do that- so they are overmedicated and sick all the time. 

There were more millionaires made during the great depression ( but of course, you don't hear of those) than at any other time in history until the dot com boom. 

Entrrepreneurs will get us out of the recession. Government won't and can't. Big corporations won't. But small businesses and the self employed will. It is a blessing in disguise for many people choosing this path and I am SO excited for those who do because I know the power of being an entrepreneur because I am one and a very successful one. I am passionate in helping entrepreneurs make it in their businesses. It is SO exciting. Katerina 

My daughter was "down sized" three time this past year.  She found her silver lining this with this as well :).  It is all about the "opportunities".  This was an excellent post as well & I think you are right it will be the possible trend of the future, especially with more companies doing away with pensions, etc..  Thank you!!

I think it will be as #33 mentioned. Entrepreneurs, the visionary's, will help create growth and small and med businesses with excellent models and efficiencies. They will look to fill voids and create products and innovations that improve life, time, comfort, etc and that is what will help get us out of this funk, unless our wise government steps in to squadoosh creativity with its over-regulation and taxation and bs bureaucracy.

Nice job on the feature!

Hi Karen, Congrats on the feature. I was so surprised on reading it since my son also took the bar exam this week (just finished). Good luck to both of them on their new ventures.

Karen, that's exciting to hear about your husband.  I would imagine it's just a little scary too, but it sounds like he is really good at his job.  Good luck to your son.  That's quite a milestone!!  Lots of excitement around your house. 

You remind me of anothr economy and I see the pattern. .

in my birth country in South America, you don't have no choice but be an entrepreneur of go hungry. .almost everyone works for themselves

Including a brother I have  who has a college degree . . he makes more money hustling on his own business.. .and has a better living standard than an average doctor in the city.

Karen: I have seen it moving that way as it cuts down on the overhead of office space, management, health insurance and the many more benefits. All the expenses are turned over to what used to be employees now independent contractors.

Karen, I agrees with this. I am befuddled when people say they cannot get a job. Go make one like these people have done and do it better. Then you never have to look for a job.

Karen, Independent Contractor status looks like it is the way to go. It takes a lot of the burden off of the company such as taxes, social security, health insurance, expenses, etc. The company only has to pay a portion of the sale per a compensation plan. Good for both the company and the contractor. I had a boss who once told me, "You're only as good as your next sale."

It's the wave of the future, now I just hope the mortgage industry starts to realize how many people are self-employed and looks at ways to make it easier for them to get home loans without a W-2.

Hi Karen.  I heard recently that the biggest opportunity out there right now is selling franchise businesses to retiring baby-boomers.  Many want to stay in the work force in some shape or form, but want to control their own destiny.  So... proven concepts in the form of franchise businesses are a great option.  It seems health care costs are driving a lot of companies towards hiring"independent 1099'd contractor" workers.  Makes sense.  Best of luck to your husband and son.   

My son who has a degree and is now waiting tables will go into the navy in about 30 days. But your observation has merit I think. More and more folks are going independent. I remember when I was in my 20's ( when dinasours ruled the earth) I was at a family gathering. One of the elder statesmen at the time was retiring from a company that he had been at for 50 years. He could not understand why people changed jobs so much. Almost at once all of us "youngsters" said it was not because we wanted to it was because we were forced to. Those were the days of mergers and aquisitions. I think this was the start of a trend. The reaction to the lack of a stable job led to a rethinking on the part of the employee to be more independent, as well as trying to maximize their earnings. So if there is no more for the good of the workers then why not be independent ? Liked the post it was very thought provoking 

I agree.  I meet more and more self-employed people in my networking groups every week.  Many of them are even resorting to "multi level" type businesses because they cannot secure employment in their traditional fields. 

Karen, this dovetails into the theme here on real estate recovery...i did a post on builders and their subcontractors ( all 1009 workers)...it is the way of the world & some succeed very well at it...Case in point the roofer who did the cedar shingle roof on this ultra home has a waiting list of over a year...he has such a reputation people will pay and wait for his skill...the key is skill...promote the local independent contractor!  very cool

American dream? Fire everybody in office, place term limits, down size the fed, prevent them from ever borrowing money again. Make social security and medicare locked programs where they cannot use the money for other things, because the system is a profit center - sorry for their lies to you. Place terrifs on goods from China. Stop calling people Irish, African, Mexican, etc Americans - united we stand and divided we fall. Until our GOVT is in check we will have a mess. Unemployment needs to be private insurance. Welfare needs to be case by case and you will do whatever work the GOVT asks you to do for your funds, etc. Always protect the people who cannot protect themselves. Kill off whale watching for a billion a year. I would love to see our GOVT shut down, because they need to look at the budget and kill off things we can kill off, so we can have a balanced budget with no debt within 5 years.

As the economy implodes, more and more people are finding they have to create their own opportunities.

The best thinkers and entraprenuers come about during tough economic times...this time is no exception.

Great post.

I quit my job in April of this year to take my business full time after starting it on a part-time basis in July of 2010.  I chose to take this major risk because I felt the job I had been working for 2 years was going absolutely nowhere and it wasn't allowing me to reach my potential.  The environment was not one I was comfortable in and I did not want to wake up one day and wonder what my life could have been like if I just would have taken a risk once in a while.  I've always wanted to work for myself and take my fate into my own hands.  So, with the encouragement of support of all the important people in my life I jumped into full time entrepreneurship.  At times it's stressful and it definitely can be scary, but it's well worth it.  I think entrepreneurship is an opportunity for us to turn something negative like downsizing or a dead end job into something positive and I'm so happy that I live in a country where it's possible to chase your dreams so freely and easily.