The Financial Crisis of 2008
I remember well in the summer of 2008, for I was in the mortgage business, and this was the first time I went to work and dismissed without prior knowledge. Hence, a financial crisis that devastated not only the United States but other countries around the world. Although the White House had promoted what I felt was a novel idea that was good for the underserved market, it was executed the wrong way and peppered with greed. As a result, anyone over the age of thirty at that time saw their parents savings, and retirements shrink. Therefore, it brought about a different mindset to a younger generation of not spending their entire lives working for one company as their parents did before them.
These younger people now look at entrepreneurship as a way of building wealth on their own terms. Rather than putting their faith in others, they will take charge of their destiny. However, one must have some skill set, and this is where college comes in. One having more knowledge in a particular area can benefit one, the object is how to turn that know-how into a money-making process in time with patience and a plan.
Moreover, at the age of fifty-eight years old, I found myself being in sales ever since I was eleven-years-old, where I learned how to buy and sell newspapers. Consequently, later selling insurance, real estate investments, merchant services, and yes mortgages. Therefore, I made a conscious decision to go back to school and get and finish my business degree, and so I did. So, after eight years and $170,000 later, I acquired my Doctor in Business Administration with a particular focus in Entrepreneurship and Business Management.
Accordingly, my way of repacking myself for the 21st century to be the best that I could be, due to I was not ready to retire.
Yes, there have been many successful entrepreneurs who have made it without a college degree, but they are in the minority. Business management and shrewdness are needed in business without the knowledge of budgeting, and marketing your enterprise will not survive the long-run of sustainability, you will go broke. Entrepreneurs must learn how to create an awareness of their product or service to a public that has no idea of who they are, and that is a daunting task in its self. Nevertheless, the 21st century brings about its challenges from that of the 20th century due to one new invention, called the internet.
The internet is a vehicle that one can now communicate around the world in minutes, and go global with the use of a website. This one invention has opened up more opportunities and another tag on products and services such as Software-As-A-Service (SaaS) and other services that are power through the internet. What is being done today due to the Pandemic could not have been done some twenty years ago. Hence, and a new way of working.
Nevertheless, even this came from tapping the internet and being creative in using technology that is in front of us. Moreover, it will bring about other intuitive thought leaders that will find different ways to do the same thing only better. So, is that not what entrepreneurs do? Can you come up with ideas that can change and mold your future?
The mixture of hard skills (taught) and soft skills are those of leadership. Hence, which can arguably be said to hold better value to the professional person. As the world looks at new ways to stay quarantined and yet find ways to make this an economic turn around, we must continually rely on technology and find new ways how to implement it in today’s business climate. We will survive this with innovation, creativity, and good old entrepreneur, savvy.
My Continuing Story
After having my Doctorate conferred in August of 2018, and physically receiving it in September, I was diagnosed with lung cancer by Veterans Administration in October. Now, after two years of continuous fighting, this dreaded disease with the love of God, family, and personal persistence with no pain and living every day at the moment to make a more significant difference in this world and for my family. For now, one looks down into the glass of mortality and knows no one lives forever, and be content on where one is now, and live and be merry with family as much as one can.
But this is my story, what is yours? Have you planned for the 21st century for you and yours? Moreover, are you going to take it on the chin? And lay down due to the Pandemic and throw your hands in the air? Stay creative, continually upgrade your skills and stay relevant with your career, and always seek to be the best that you can conceivably be for; you.
Let me hear from you in your story. And love to know what you think about where we are today with social unrest, failing economy, and the Pandemic in how we can overcome all this. Please go to my blogs and make your comment. I would love to hear what you think. Oh, did I mention I am back in school at the age of seventy, to get certified in digital marketing to keep my career-relevant in the 21st century?
Dr. Mitchell is an entrepreneur and small business consultant with Donald E. Mitchell Agency, Inc., which he is the founder. The opinions associated with this blog are of his own.