Creating Your Own Job Security

A big reason to work for big companies in the old economy was job security. With unemployment at 80-year highs, the safer bet may actually be to work for yourself. The risk now is in having faith that your future is safe with your current employer.

There are still situations in the New Economy where business could dry up and you could end up with no income. Those situations are avoidable though through diversification of clients, services, projects and products.

It’s mostly the beginning of self-employment that’s the scariest and least stable time. After you get up and running, you should be able to create enough stability that the worst case would be losing half of your income. Can you say that about traditional employment? Probably not, unless you have an employment contract.

Traditional employment will still be how most people pursue a career. That’s where most people are comfortable, so I don’t think it will change for the majority. The difference is that traditional employment can no longer be considered the “safe” option. For years, entrepreneurs have been viewed as risk-takers, but personally I think it’s far riskier to depend on someone else for your well-being. Ironically, I view entrepreneurship as a much safer option.

Chris Guillebeau, The Art of Nonconformity *

Living a Great Lifestyle Now, Instead of Waiting for Retirement