Every organization has at least one. Perhaps it could be as simple as a mission statement or a credo, or as complex as a policy manual or sacred text. Every grouping of humans since we learned to write, and possibly before, sets down thoughts for acceptable and unacceptable behaviors, aspirations or simply dreams.
Sometimes, we pen one-sentence missives that speak much with their brief elegance. My old hometown newspaper, the Daily Herald, had the following quote from its founder on the editorial page of each publication: “to fear God and to make money.” Deepak Chopra will tell you that each of us is governed by seven spiritual laws for success. Moses came down from the mountain carrying stone tablets carved with 10 laws for each member of the 12 tribes to follow.
Whether the organization is a corporation, religious body, or you, Inc., and whether the principles are written or internalized, we all follow many sets of rules, ethical codes or aspirational goals. Some obviously carry greater weight than others. Following the biblical commandment of “thou shalt not kill”, is likely more critical to your overall life plan and purpose than calling a penalty on yourself when playing a casual round of golf alone. And situational elements impact how and what we follow. A member of the military may be called upon to violate the aforementioned biblical mandate; we expect a PGA Tour professional to remain vigilant about the rules of his or her game, even if no one is watching.
When it comes to the world of the small entrepreneur, the situation isn’t different. Every thought leader in the field of entrepreneurial studies will tell you that appropriate systems are key to success. I believe that having a set of principles is a system in and of itself.
When the solopreneur mastermind group was formulated, we did so based upon our opinions that certain elements of the small entrepreneurial journey were important. These elements, of which we’ve numbered 10, contain our beliefs, opinions, and rants about the life of the small business man or woman. Given that one of the key contributors to our organization is a retired attorney, we of course couldn’t term these 10 elements commandments, rules, or similar directives, without understanding the exceptions, or loopholes if you will. Consequently, we’ve named our guidelines the 10 mutable laws. We will explore each in turn; as we do so, we will also suggest reasons and situations in which the “law” may not be a good fit, may be bent, or even broken.
After all, one of the true advantages to being a small entrepreneur is that you can be nimble and flexible. Why wouldn’t the seminal principles of a group dedicated to the solopreneur be similarly imagined?
Mutable law #1: Entrepreneurship is one of the last remaining gateways to the American dream.
Daniel Pink had it right. In his prescient book, Free Agent Nation, he notes that as of its writing (2001), about one-fourth of the American work force were free agents. He defines a free agent as a solo entrepreneur, a micro-entrepreneur, or a temp. Essentially, individuals in any one of these three categories are working for themselves.
Since the publication of this text, I can’t help but think that the numbers and percentages of those who would fit into Pink’s definition have grown. While I have not seen reliable statistics, with the economic upheavals of 2008 and thereafter, it makes sense that many who once fed at the corporate trough were laid off, fired, or downsized, and have not returned to the traditional workforce. I believe many have joined the growing ranks of solo, micro or temp free agents.
Pink believes four ingredients created the swing to the free-agent economy. First, people no longer trade a paycheck for perceived security, as there is none any longer in the corporate world. Second, the way we create things is now easily obtainable by any individual. We have moved from a manufacturing to a service to an informational to an idea-based economy. Simply put, anyone with a smart phone can now create a business. Third, people now seek both money and meaning from the time they spend at their “job”. And fourth, or finally, organizations no longer exist for very long. Often, corporations, even large ones, are created, thrive, and then either cease to exist or are swallowed up within a several year time frame. The days of the 50 year company are becoming rare.
[Free Agent Nation (the Future of Working for Yourself), Daniel H. Pink copyright 2001, Warner Business Books. Buy it at: http://ws-na.amazon-adsystem.com/widgets/q?ServiceVersion=20070822&OneJS=1&Operation=GetAdHtml&MarketPlace=US&source=ac&ref=tf_til&ad_type=product_link&tracking_id=annbabiarzc0d-20&marketplace=amazon®ion=US&placement=0446678791&asins=0446678791&linkId=VEWRCUW3KBVTEN22&show_border=true&link_opens_in_new_window=true]
Moreover, trends have also created a kind of “doughnut hole” in the American economy. True, there are members of the elite upper-management class that make significant fortunes from running, managing and sometimes even mismanaging large multinational companies. The multi-million dollar paycheck, stock options, and golden parachutes offered when someone screws up a corporation are commonplace. Also true, is that job creation at the lower economic level is recovering from the shock of the last 10 years. If you want to work, it appears as if there are a plethora of $10 per hour jobs from which to choose.
But to achieve the middle class American dream, and beyond, our options have narrowed. There are some professions — healthcare, IT, engineering, and perhaps a few others — where a good-paying job can be had. But many other professions are shrinking or even disappearing, replaced by offshoring, outsourcing, automation, or simple obsolescence. And even those who choose a career from one of the financially rewarding fields wind up switching employers rapidly, or even find themselves working as a contract employee, as corporations seek to shed full-time employees, instead choosing the flexibility of the free agent temp.
The one gateway that remains, and, if you understand from Daniel Pink that entry is even easier, is small entrepreneurship. Here, you can be the true master of your domain. Many may hesitate, operating from a basis of fear, craving instead the security of the corporate nipple. As the shrinking of the American job base in the Fortune 500 continues however, fear must necessarily be replaced with pragmatism.
Finally, and I understand I am treading on politically precarious ground here, and make no comment as to the efficacy, expediency, or whether the overall benefit or burden to the American economy or taxpayer is sustainable, the Affordable Care Act (“Obama care”) has removed one barrier from someone looking to jump into the entrepreneurial life. Many with pre-existing health problems needed a corporate job to avoid the risk of being without insurance should health care catastrophe occur. Assuming that some form of insurance will remain for the foreseeable future that covers those who were uninsurable pre-ACA, small entrepreneurship growth should remain unfettered from this potential drawback.
So if small entrepreneurship is one of the true remaining gateways to the American dream, why is it a mutable law? Frankly, the economy and the “tipping point” of the expansion of technology and information is increasing at such a rapid rate that one cannot predict what the jobs of next week might be, let alone the employment picture 10 years from now. Moreover, there remains the possibility that the healthcare system may be dramatically altered yet again, returning the specter of the need for health insurance as a tether to the corporate mothership. And finally, the entrepreneur is a different animal. Not all are cut out to walk this path. If security is a more critical need for you, or perhaps for your family situation, you may choose to ameliorate the risks of free agency by working at one or more of the jobs that remain.
But should you choose to make the leap to the world of entrepreneurship, you need to view the upside as much as the down. There are no limits. Your aspirations for your business need not stop at the middle class. What might your goal for your business and your life be?