By Cheval John
Most of the people were raised to the drum of “If you want a really great and stable job, you need to gain a quality education.”
They go to high school and learn about subjects that they are not interested in.
They study really hard for the SATs and ACTs so that they can make a high enough score to get into the best universities that money can buy.
When they get over that hurdle and know that they are “college material,” they are looking through different colleges to see which ones will get them towards the goals of attaining the all illustrious degree.
If they are a five-star athlete, recruiters from major colleges are paying visits to their home to try and sell to them their school and why they should compete for them.
They are continuously counting down to the day when they are finally free from the rigors of high school and are out of their parents watchful eye.
For most, they have selected the university that they want to attend close to the day of graduation.
If they are a five-star athlete (a.k.a. football), they are making their announcement on the university of their choice in front of a large television audience dubbed as “National Signing Day” broadcasted on major national networks like ESPNU, Fox College Sports, Big Ten Network, etc.
Then that day arrives when they achieved their high school diploma and are excited about the possibilities of going to college.
Once they arrive on the college campus, reality sinks in of achieving “independence” and the opportunity to choose which major they want to study.
They put in the grueling hours of doing labs, homework, writing papers, studying for exams for the four years (six years for some) to achieve the elusive goal of a college degree.
They want to be among those who made it through the rigorous demands of the university and proclaim that they are a college graduate.
They do not want to be among the majority who failed to achieve the college degree because that would be a failure not only to themselves, but their parents who spent their hard earned money to send them to college.
If they make the 40% of people who achieve their college degrees according to this 2014 story by NPR.org, they believe they are set for life.
The day arrives when they walk across the aisle to receive their college degrees and are excited about the possibilities that are waiting for them.
When most of the college graduates achieve their first entry-level job, they are excited to start the track to promotion.
They are in the workforce earning the salary, living the “American Dream” that they grew up with.
All of a sudden, they got an epiphany that they want to strike out on their own and follow their dreams.
When they tell their family, friends, etc about the decision, they wonder if they have gone “insane.”
They are wondering why you left that great company that have the benefits to go out into the unknown world of entrepreneurship.
Most have probably tried to convince the aspiring entrepreneur that 8 out of 10 new businesses fail within the first 18 months of operation according to this Forbes article “Five Reasons 8 Out of 10 Businesses Fail” by Eric T. Wagner via Bloomblerg Businessweek.
Though they are well meaning, they try to bring you back from your “insanity” of starting a business and to reconsider your decision to become an entrepreneur.
However, you don’t relent and decide to start your very own business.
I highly suspect that Brandon Sobotka heard the same concerns from his closest friends when he started his company, “Integrity Human Performance.”
Many might not have understand his vision of helping people who are either entrepreneurs or business leaders, to increase their productivity and profitability without overworking themselves to death.
Even if you try to explain to them why you have to follow your destiny of owning a business and the desire to make the world a better place, they still believe that you are “insane.”
In their minds, the reasons are valid because you are the one who have to figure out a way everyday to make the venture work.
It makes sense to them that you are insane because you are going into unknown territory of entrepreneurship.
So what should you do if you have a tough time in convincing your friends and family of why you decided to become an entrepreneur and leave the perks of the company that provides you a “stable” salary?
Don’t waste your time explaining to them the reason why you became an entrepreneur.
What you should do is come up with creative ways to make your company a success.
When they see the results from your hard work to build your company into a profitable business the right way, they will understand to a degree your decision to become an entrepreneur.
Maybe they will get inspired by your success and decide to become an entrepreneur themselves and hopefully realize that you were not insane after all.
by Cheval John
With the presidential election right around the corner, the main concern is the economy.
Some say that we are at a recovery while others believe that it will get worse.
Voters are wondering if we will ever see America return back to it’s “glory days.
To understand where we are today, we have to understand the past and that is where guest writer, Dr. Brian Domitrovic comes in.
He has written a book called “Econoclast, The Rebels Who Sparked The Supply-Side Revolution And Restored America’s Prosperity,” which deals with the ecomonic recovery during the Reagan Administration.
He has made appearances on radio nationally on shows like the Lars Larson Show and Voices of America and television appearances on various shows like Lou Dobbs Tonight and The Kudlow Report.
He is an Associate Professor of History at Sam Houston State University and currently serves as the Chair of the Department.
Now without further delay, here is Dr. Domitrovic:
We never seen a recovery from a recession this poor since the Great Depression.
There is some competition, and it comes from the stagflation era of the early 1980s.
The general rule is that a deep recession brings a sharper recovery, and the reason is simple mathematics.
Growth rates are calculated in the following manner: new GDP is divided by previous GDP (Gross Domestic Product), and the steeper the recession, the lower that denominator.
The lower the denominator, the greater will be a growth rate with any given numerator.
In the Depression, growth was very sharp out of the 1933 trough (40% for four years), but it still gave way to a nasty recession in 1937-38 that took unemployment to 17%.
This is the benchmark for failed recoveries: a resort to 17% unemployment.
In 1980, there was a recession, a mild one, and the recovery was meek, at 2.5% in 1981, and this gave way to another recession where unemployment just about hit 11%.
But then growth caught fire, 17% over the next three years, and 3.5% per year after that.
Today, the recovery from our Great Recession, in the aftermath of which there was 10% unemployment, has been at best on 1981 standards.
We used to recover from deep recessions with 17% growth for three years as the recovery.
Now we plod along at 1-2% per year out of a very deep swoon.
The only time we’ve done worse in the modern era is the 1930s.