The Death of Employment Can Be the Birth of New Business
It seems that every day some news reporter presents a new story about loss of jobs or employees’ hours being reduced. The bottom line is that the traditional 40-hour work week, full-time employee is slowly going away. When I entered the workforce, it was common to get a full-time job, and believe there was a good chance that you were going to work there until retirement. Times have changed. The business world has changed. Replacing these full-time employees with sub-contractors and part-time workers is becoming the new normal.
So what does this mean for new business? Small businesses can be those sub-contractors. Embracing the entrepreneurial world, you can create your own full-time job by starting your own company. You can fill the void that these lay-offs and hour cut-backs has created. In our industry, there are opportunities for inventory professionals to do more than document a person’s residence. The businesses that have reduced their workforce have fewer employees to do occasional or as-needed projects – projects like taking inventory. This is where an asset inventory service business can fill the void.
Some opportunities for an asset inventory business are:
- Creating the initial inventory for the small or medium business.
- Updating the inventories on a quarterly or annual schedule – or as needed.
- Offering raw materials or finished goods inventories for small-production shops.
- Providing inventories on a scheduled basis for antique shops, boutiques, etc.
- Providing appraisal services.
Slow growth has created hesitancy for business owners to hire new employees. The cost of benefits, such as paid vacations and health care, can negatively affect a small business’ bottom line. Hiring an inventory service to perform that specific job makes sense, because the business owner is paying only for the time it takes to complete the task. And they’re paying for expertise, experience, and knowledge that an hourly employee will most likely not have.
Starting a business is one way that you can begin creating your own future. Start on a part-time basis while you grow your clientele, and develop it into a full-time opportunity that you can control.