Employ Yourself
A friend of mine recently told me, "there are too many lawyers and not enough legal work." Being the eternal optimist, I summarily dismissed this comment and continued applying for jobs.
Here are some of the things I did that worked (to some degree):
1. I contacted a select few recruiters who were referred to me by someone I trusted. I interviewed them to make sure they were knowledgeable, trustworthy and not just fishing for resumes.
2. I changed my profile on facebook, LinkedIn and Twitter, etc. to reflect the fact that I was seeking employment. I also sent all of my "friends" a message informing them of my status.
3. I contacted my undergraduate and graduate schools and asked to be put on a emailing list whenever new jobs are posted. I also signed up to receive access to a reciprocal inter-collegiate job database.
4. I researched job postings on craigslist, kijiji, federal job postings, state job postings and other local classifieds in geographic regions where I could live.
5. I notified everyone I know at church, social clubs, professional associations, etc. of my status and attempted to "network."
Here are my results:
1. Hundreds of job applications sent to hundreds of firms, government agencies and corporations.
2. 10 telephone interviews (conversion rate around 1%)
3. 4 in-person interviews (conversion rate aprox. 40% of telephone interviews)
4. 3 promises of a job offer from HR
5. 3 jobs put on freeze until the economy turns around.
My Solution
1. Determine my most marketable skill (MMS)
2. Write a simple business plan for monetizing my MMS
3. Talk to a local bank about the business plan and get financing
4. Plan and formally organize a business entity
5. Buy the necessary equipment and materials to start the business
6. Launch and hire myself
Conclusion
Despite all of the economic uncertainty, now may be the most opportune time to start a business. Some of the best companies were started during economic downturns including GE, Hewlitt-Packard, CNN, Sports Illustrated, the Jim Henson Company, IHOP, Burger King, Trader Joe's, MTV and IBM. If you've ever thought about starting your own business why not consider it now.
I would love to hear the pros (from the non-risk averse) and the cons (from the risk averse) of starting your own business in a down economy.
Here are some of the things I did that worked (to some degree):
1. I contacted a select few recruiters who were referred to me by someone I trusted. I interviewed them to make sure they were knowledgeable, trustworthy and not just fishing for resumes.
2. I changed my profile on facebook, LinkedIn and Twitter, etc. to reflect the fact that I was seeking employment. I also sent all of my "friends" a message informing them of my status.
3. I contacted my undergraduate and graduate schools and asked to be put on a emailing list whenever new jobs are posted. I also signed up to receive access to a reciprocal inter-collegiate job database.
4. I researched job postings on craigslist, kijiji, federal job postings, state job postings and other local classifieds in geographic regions where I could live.
5. I notified everyone I know at church, social clubs, professional associations, etc. of my status and attempted to "network."
Here are my results:
1. Hundreds of job applications sent to hundreds of firms, government agencies and corporations.
2. 10 telephone interviews (conversion rate around 1%)
3. 4 in-person interviews (conversion rate aprox. 40% of telephone interviews)
4. 3 promises of a job offer from HR
5. 3 jobs put on freeze until the economy turns around.
My Solution
1. Determine my most marketable skill (MMS)
2. Write a simple business plan for monetizing my MMS
3. Talk to a local bank about the business plan and get financing
4. Plan and formally organize a business entity
5. Buy the necessary equipment and materials to start the business
6. Launch and hire myself
Conclusion
Despite all of the economic uncertainty, now may be the most opportune time to start a business. Some of the best companies were started during economic downturns including GE, Hewlitt-Packard, CNN, Sports Illustrated, the Jim Henson Company, IHOP, Burger King, Trader Joe's, MTV and IBM. If you've ever thought about starting your own business why not consider it now.
I would love to hear the pros (from the non-risk averse) and the cons (from the risk averse) of starting your own business in a down economy.
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