Recently I read a book call The End of Jobs: Money, Meaning and Freedom Without the 9-to-5 by Taylor Pearson, #1 Bestseller in Business and Money, Small Business, Entrepreneurship and International Economics A Top 3 ‘Start Your Own Business’ Book -Inc Magazine, which talks about the sanity and safety of entrepreneurship. Due to the rapid growth of technology and globalization has changed dramatically the growing class of digital entrepreneurs who have leveraged technology to design a more fulfilling and profitable lifestyle. Leads me to the question is job security real or an illusion?Note, this post may contain affiliate links. Please read our disclosure for more info.
With more people living paycheck-to-paycheck and struggling to pay their bills because the cost of living has gone up but not their income, we have noticed more individuals stringing together multiple streams of income to survive. Leading these workers to be counted as “entrepreneurs” not because they’re starting the next great company, but because they have no other choice.
Now, this blog post is not in anyway to offend anyone or down talk someone who has a job. This post is to help you become more aware of our global economy and position yourself to not rely solely on one stream of income but be open to creating more opportunities for yourself.
In the past two years, we have been more interested in creating businesses, not because of the popularity of entrepreneurship but to create a legacy for our boys. As we get deeper into business, we realize there’s an increase in people who become entrepreneurs or who are interested in starting their own business. The startup environment in the US has changed dramatically. It is now easier to start a new business than it has been in most recent years. In which you are able to take more risk and failures at a lower cost. In some cases, you just need a phone or laptop to get started and that nowadays are relatively inexpensive and accessible to purchase.
Have you noticed that more startup companies are being developed these days? In our research, we have found the college, graduate students, and young professionals, increasingly from a new generation of young founders “Generation F” who are not following the traditional career tracks but to try their hands at entrepreneurship.
What is causing this effect in the rise of young people pursuing entrepreneurship?
Barbara Hou, the author of Startups Demystified: Founders Share Strategies, Secrets, and Lessons Learned, research has found 1 Tracing the Causes and Consequences of Generation F
Disillusionment with corporate America
Young people’s fatigue of corporate America has combined with optimism about creating their own alternatives for the future. The idea of working 80–100 hour weeks for an industry such as finance no longer seems as appealing as it once was. Instead, a modern ethic of self-fulfillment, authenticity, and individualism pervade young people’s sense of meaningful work.
Technology has enabled creative opportunities
A post-PC world marked by mobile devices such as smartphones, tablets and wearable devices has spawned new opportunities to create. Countless “apps” now allow entrepreneurs to more easily develop software programs that serve not only businesses but also the direct consumer. Young people are able to imagine themselves as consumers and are excited to create products that they and their peers would want to use.
Role models for young people
Members of Generation F have been influenced by the success stories of Facebook, Airbnb, Twitter and other startup companies. Founders such as Mark Zuckerberg (Facebook) and Clara Shih (Hearsay Social) have served as inspirations and motivators for other young entrepreneurs. Their successes have changed the perspective of startup success from a myth to a goal that one can legitimately strive for.
Culture of success
Young people today are often told how important it is to be successful. Instead of trying to fit into an established company’s niche; however, they want to create their own. By being their own boss and starting their own company, they can bypass both the need to find a job or to adhere to someone else’s definition of success.
The End of Jobs
Now, let’s go back to the book, 2 The End of Jobs by Taylor Pearson. The author gives great key points.
For one he explained, while baby boomers only needed credentials to succeed, today a degree doesn’t guarantee financial security.
After WWII, the economic boom pushed the knowledge economy to its limit, and it began morphing into a new system.
People born in the U.S. in the first two decades after WWII – the baby boomers – enjoyed a period of economic prosperity and an abundance of career options. According to the U.S. Census Bureau, jobs grew 1.7 times faster than the population between the years 1948 and 2000.
This growth meant that baby boomers simply had to get a college education and the right credentials, and they’d walk straight into a job. The next generations followed suit, believing it would remain this way. But there was never any guarantee that the economy would stay the same. And it hasn’t.
In fact, since 2000, the population has grown 2.4 times faster than have positions on the job market. This explains the plethora of well-educated, jobless graduates. In the U.S., over half the recent college graduates are either unemployed or employed in a position that doesn’t require a degree.
From this, we see that knowledge in the form of credentials is no longer the limit. We’ve reached the peak of 9-to-5 jobs and we are now witnessing the beginning of entrepreneurship. Interestingly, the only jobs on the rise since the 1980s are non-routine cognitive jobs: creative, unpredictable work rather than work involving completing the same task every day.
Our economy is expanding based on creativity and innovation. In other words, creativity is the new limit and the new power players are entrepreneurs who set up businesses and pursue innovative ideas. The apartment rental website Airbnb is a great example: they started out by posting apartments on Craigslist, an external site that lists apartments, as a creative way to market their own business.
Rise of Entrepreneurship
After the United States, housing bubble crisis the rise of entrepreneurship has risen ever since. More people are being aware of opportunities as we talk about in the perfect business, or are being creative as we see on the TV show Shark Tank. But the key message in this book is the promise of a stable 9 to 5 job at the end of college has been unsustainable since the turn of the century. Our society is transitioning into an entrepreneurial economy and now, more than ever is the time to invest in ourselves and take advantage of technology to create meaningful work that embraces risk and creativity and offers more wealth and freedom than the broken system of the traditional 9-to-5 grind.
So again, the question is job security an illusion? In my opinion with the next generation growing up with social media, vlogs, blogs, and better access to successful people, in addition to the rise of information available all around us, I believe it’s true but that is my opinion. I will leave it up to you to think about the title of this post. Or you can leave a comment below.