If you had the power to choose when you could be downsized, late 2008 probably would not be your 1st or even 2nd choice. Your 401k plan is probably looking uglier than this Almiqui. The U.S. unemployment rate is hanging tough at about 6.5%, and you are just not getting any younger.
If you are a newbie to the world of corporate downsizing, the emotion that is probably winning out in your "Top 10" list is the fear emotion. Being out of work can certainly be frightening, and if you don't have at least some fear, you either have a significant net worth, or are in a state of denial.
If you have been through a corporate downsizing before, then a feeling of deja vu has probably settled into your psyche. All of those wonderful emotions that coincide with a job loss are re-surfacing, and you don't like them one bit.
There is one way to avoid experiencing the emotions that you are feeling, currently. Become a small business owner. Get some control back in your life.
I believe in the franchise business model for a variety of reasons, including:
* Proven track record
* Proven business systems
* Ability to gain market share quickly
* Equity building
Are you saying to yourself, "Joel, you must be crazy-why would I invest in a franchise of my own, now? The economy is in turmoil, and my net worth is diminished by 20%!"
Here is what I say to you: Why not now?
Better yet, Guy Kawasaki, a venture capitalist, and a contributing writer on the OPEN Forum says this about timing:
In a way, he is right. Sometimes, our circumstances force us to act sooner, rather than later.
Now, we can argue whether or not investing in a franchise of your own is true entrepreneurship or not, if you would like. It is certainly more entrepreneurial than going out and getting another job.
You say, "But Joel, I probably couldn't get a loan for a franchise anyway. I have been reading that the banks are not lending start-up businesses any money. Just forget this idea. I will just go out and find a job."
I feel strongly that there are banks out there that with the help of the SBA, will loan money to franchise start-ups. If you have excellent credit, some money down towards your new venture, and are investing in a franchise concept that is not too bizarre, I think you will find some lenders who are willing to lend you some money. Why not at least try?
Here is the other alternative; the instability of a job. You do want some control back in your life, right?