Entrepreneurial Thinking in An Age of Constant Change
By Terry Brock DSound & Steemit
“It’s the dirty secret of today's entrepreneurial economy: being excellent, and even being well known and respected in your field, isn't enough.” Dorie Clark in Entrepreneurial You
We live in a massive time of uncertainty. We are all entrepreneurs today whether we want to accept or not. At any moment there could be a change in the economy, your industry, your company, your boss, or other variables. You could assume (dangerous word) that you are safe in your position and then, from out of nowhere, you get notice that your services will no longer be needed.
Major ouch!
Worse yet, it can happen even if you’ve played by the rules, made nice with all the other folks, and are reasonably well-known and respected in your communities. This is just he way the world works today. Realistically, it has been that way for centuries of human existence. It is presumptive on our part to think that all things will remain the same and the job you have will always be there. If you have your own business, it is dangerous to rely only on current customers.
You can get depressed about this, or you can understand the dynamics of what is happening now and leverage that to your advantage. This means you’ll need to constantly acquire new, market-valuable skills.
Yes, you could suddenly and without any previous notice, lose your job or significant source of revenue (I’m talking to you entrepreneurs who have one or two big clients comprising over 90% of your total income!). If you have nothing set up and in place to change quickly you’ll be in trouble. If, on the other hand, you have a second, or third, or fourth source of income that is growing, you can not only survive but thrive. Multiple sources of income make a lot of sense in a highly uncertain environment.
The key is diversity in your income. The key is multiple income streams. Something about that old “Don’t put all your eggs in one basket” seems more relevant today than ever. It is wise to have several options for income always available.
To do this, you must learn multiple skill sets that are market-valuable. It is best if these are related to each other all under a bigger tent of You, Inc or the skills you can master and that the market values.
These supplemental and complimentary skills you learn can help you develop other side gigs that can generate income. It is best if they can help you get promotions and advancements in your current position. That way, you’re the one who gets the job promotion because you, for instance, took that extra class at the local community college and could do the new assignment. You can take courses online so that even ultra-busy people (you know I’m talking to you entrepreneur!) can acquire new skills. Learn those new market-valuable skills and then when the opportunity comes along you’ll be able to either do better in your current job, or find even better opportunities elsewhere.
A new book addresses these types of issues. It is called Entrepreneurial You. I had the chance to talk with the author, Dorie Clark, who shared some salient and very valuable ideas on how you can take advantage of today’s environment. Turn what could be a terrifying situation into one that creates brand new opportunities and gives you a solid advantage in a crazy, you-never-know-what-will-happen environment. It is well worth your time to watch this, take notes, and then act on those ideas that are most appropriate for you. You can catch that full interview here:
steemit.com/dtube/@terrybrock/91tpshpc
In the book, Clark talks about people who saw a tough situation and tried something different. I love this quote from her book:
“The old model, the one that most of us grew up hearing about– – –"Work hard, get a good job, and you'll be rewarded"– – –has changed. Hard work is still mandatory, but today, the work has shifted toward an ever more independent, work-from-wherever-you-are business economy. The very idea of what constitutes a career has transformed.”
Clark is right in her assessment. You and I have to adapt to learning and changing constantly and finding multiple sources of income, even if you have a full-time job (at least for now!).
Yes, the environment is crazy. Yes, today’s world is changing fast. Learn the skills that are market-valuable and be ready for crazy-new opportunities. You’ll be glad you did!
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