When the economy hits the skids and jobs are scarce at big employers, many opt to make their own jobs – they go into business for themselves.
A story in Saturday’s New York Times reported on the phenomenon dubbed “forced entrepreneurship,” that economist interviewed for the article said is indicative of most modern economic downturns. It is beginning to occur now, the story said, 13 months into the recession “when the formerly employed realize that traditional job searches are not working, and that they are running out of time and money.”
But the opposite is also true. Many entrepreneurs, running out of time and money on their own, have closed their businesses and are trying to rejoin corporate America. Many readers of TheLadders Career Advice report the process is particularly troubling for someone who has been out corporate America for any length of time.
- After years working without a boss or corporate structure many say it is difficult to prove to an employer that they meet industry standards. Others report the necessity to wear multiple hats as a small business owner means they’re a jack of all trades, master of none and unwelcome by most large business which have few roles for a generalist.
- Many readers of TheLadders Career Advice write to ask how to represent on a resume their roles as chief marketing officer, chief financial officer, legal counsel and director of catering among other positions in a way that will present them properly to an employer?
- After years working in their own management structure and process, what are the modern certifications, software and processes they must acquire to be relevant to employers?
- Many entrepreneurs say they started their own business without the degrees or certifications that might have been required at larger firms. Now, with 30 years experience in sales or marketing, they say it’s hard to get a job without a bachelors degree.
- Many ask if it’s even possible to demand the same salary they earned as a sole proprietor?
It cuts both ways and in this recession, both sting.