I just got laid off from my 9to5

[mikerichx3]

Hello Viewers,

I just got laid off my primary job. This has happened for the second time. I am a college student that has a business that helps me float from time to time. I am really getting tired of jobs controlling my fate when I would rather myself. I just need tips and tricks on how to manage a business while unemployed? I have some type of capital to advertise to get my self out there and to make more money than before. Should I file for unemployment? I don't know I am from NY and I need help thanks.

[Pita]

If you're eligible for unemployment then by all means apply for it. You paid into it when you were working so it's not like it is a free handout. You might as well have some money coming in while you build your own business. When you start to make an income then you will need to report it to the unemployment office.

Definitely talk to the unemployment people to see what benefits you're eligible for.

[Owen]

Hello Viewers,

I just got laid off my primary job. This has happened for the second time. I am a college student that has a business that helps me float from time to time. I am really getting tired of jobs controlling my fate when I would rather myself. I just need tips and tricks on how to manage a business while unemployed? I have some type of capital to advertise to get my self out there and to make more money than before. Should I file for unemployment? I don't know I am from NY and I need help thanks.

Well, if you don't want your 'fate' determined by other people, you better become a sole member LLC with a lot of ownership because the second you bring in an investor, partner(s), etc. your 'fate' CAN be determined. They can vote you out of the company, especially with a corporation. You can also file for unemployment and get money that way, get a bank loan, seek investors (if you have a viable product), or borrow money from family to get it going.

[mikerichx3]

Okay thank you that is what I will do, I just have many expenses that I can possibly stretch out but this has happened to me twice and I am only 21. I guess it is meant to be that I am naturally an entrepreneur. My business now is currently an LLC as I am the owner and possibly a couple team members (close friends and girlfriend).

[Harold Mansfield]

I just need tips and tricks on how to manage a business while unemployed?

The nature of being in business for yourself usually means that you don't have a job. If this is just a side business and not enough to support you, then you need to find a job, or if you have the back up finances start working to make your business a source of income you can live on.

I would definitely file for unemployment.

[mikerichx3]

Yeah i just don't know what to do. I have been quoted under 160 for weekly benefits which isn't enough. I have expenses like a car loan, personal loan, and rent. I just hate when a person can control my fate and I have to basically kiss ass to get somewhere. I was thinking I should collect unemployment until I graduate from college or should I sucker up and get a job until I graduate which is next year fall time (2016).

[Freelancier]

As much as it hurts to work for someone else -- been there, done that -- you need to learn HOW to be successful doing that. Look at this as an opportunity to grow your abilities.

[Harold Mansfield]

Yeah i just don't know what to do. I have been quoted under 160 for weekly benefits which isn't enough. I have expenses like a car loan, personal loan, and rent.

Not to be flip, but welcome to the real world. Now what are you going to do about it?


I just hate when a person can control my fate and I have to basically kiss ass to get somewhere.
Running your own business isn't magic. You still have to kiss some ass, and your fate is still controlled by your clients. The difference is if you fail or succeed it's all your fault and not someone elses. It's freedom, but it's also terrifying in that you have no safety net. No work, no clients, no customers? No money.


I was thinking I should collect unemployment until I graduate from college or should I sucker up and get a job until I graduate which is next year fall time (2016).

Seems pretty clear cut to me. You have bills. You need money to pay them. Unless someone is going to give it to you, you're likely going to need a job.

Do what you have to in order to get where you want to be. You aren't going to be able to pull yourself out of the hole by starting a business. You'll just fall deeper. Take care of now, now.

[mikerichx3]

You responded perfectly, I just don't know what sector to apply to ie. IT and other technology jobs because that is a conflict of interest of some sort. Should I be incognito until I graduate or my business do good? I have a good idea about a subscription service. Is it possible to have that copyrighted before it's released? Who can I talk to to have it secured and potentially create a contract for it in a later time? Thanks

[Harold Mansfield]

You responded perfectly, I just don't know what sector to apply to ie. IT and other technology jobs because that is a conflict of interest of some sort. Should I be incognito until I graduate or my business do good? I have a good idea about a subscription service. Is it possible to have that copyrighted before it's released? Who can I talk to to have it secured and potentially create a contract for it in a later time? Thanks

You're thinking too hard. Right now you need a job to pay the bills. Continue to work on your future plans on the side, but not instead of paying the bills now.
Not sure what conflict of interest you're talking about, but if you have skills in a certain field..start applying for jobs.

Don't screw yourself today because you're worried about what you may or may not do in the future. It really has no bearing as long as you don't do anything illegal.

When you start your own business, your past work history means nothing. You don't have to please a Human Resources department...you are the Human Resources department.
If you can find a job that gets you experience in your field and also pays the bills, great. But if you need to deliver pizza to keep the lights on, deliver pizza. This is what successful Entrepreneurs do. Whatever they have to in order to get where they want to be.

Most people don't just go from "I want to start a business" to grand opening. They work jobs (some times jobs they hate) in order to learn, save, and get into position.

Your dream of starting your own business won't be served if you screw yourself now and fall further behind. It will just take you longer to get back ahead to even get started.

I can appreciate you wanting to start a business. But the realistically you are economically a ways away from that. Starting a business takes money and you don't have any.
The most likely scenario is that you'll spend a few years working in your industry while learning and saving up before you can take a chance on going out on your own.

So stop over thinking it right now, and get a job to pay the bills. If that means doing freelancing work, then do that. But understand that unless you have paying clients waiting to give you a credit card #, it will take some time to build up a stead, paying clientele.

[Klhoud]

I know it can be hard to get laid off. However, setbacks really can open doors to new bigger and better opportunities. Keep your eye's, your mind, and most of all your heart open for clues. Awesome things are going to happen for you...Peace!!!

[MyITGuy]

I just hate when a person can control my fate and I have to basically kiss ass to get somewhere.

Running your own business doesn't change that!

[turboguy]

Running your own business doesn't change that!

Very true. When running your own business many, many people control your fate.

The advantage is in the case of customers and suppliers there are others. In the case of employees, if one gets too demanding, they may control your fate but you control theirs too.

That reminds me of one of the sickest things I have heard in business.

There was a Dutch guy who was running a multi million dollar business in the USA (actually he built it for the owners from scratch). One day, long ago, He said to me "You know, one of the best things about this country is there are so many people you can never run out of people to use."

I suppose I have heard worse things but that one always stuck with me.

[billbenson]

I agree with everything said above. One other suggestion though:

Go to work for a company that does what you want to do. Just get into the company doing something; anything. Learn their product or service inside and out. Watch how they do things. Before you even think about applying to the company, do all the research you can on them, their competitors, products, etc.

Companies will usually have job boards. Those boards will have ways you can move up the ladder.

For the first real company I worked for after college, my starting position was a technician repairing circuit boards. From there I moved to field service flying around the country fixing equipment. Then I got a job in marketing. Then a job became vacant for sales in the southeast of US. 9 states if I recall correctly. I was living in CA at the time. I just kept bugging the sales manager for that job. They moved to Florida where I worked out of my house. I did all of this in about 2 years. I went on to cover the East Coast of the US and Latin America and the Caribbean.

My point being get a job in a company that does what you want to do. Try to move around in the company until you get the job you want. IMO a bachelor degree is really just a license to learn.

Then move on to starting your own business.

[Pita]

That reminds me of one of the sickest things I have heard in business.

There was a Dutch guy who was running a multi million dollar business in the USA (actually he built it for the owners from scratch). One day, long ago, He said to me "You know, one of the best things about this country is there are so many people you can never run out of people to use."

I suppose I have heard worse things but that one always stuck with me.

I lived in Holland for nine years. That sounds exactly like something a Dutch person would say. They pride themselves on being direct (sometimes TOO direct). The Netherlands is a little country so you have to be careful of who you screw-over because you never know when it might come back to bite you.

[Fulcrum]

I lived in Holland for nine years. That sounds exactly like something a Dutch person would say. They pride themselves on being direct (sometimes TOO direct). The Netherlands is a little country so you have to be careful of who you screw-over because you never know when it might come back to bite you.

Dutch heritage here. Doesn't matter if your in the Netherlands or another country, it seems like they all know each other.

[turboguy]

I have visited Amsterdam a number of times and I have to say the people there were very friendly and wonderful. It was one of the most enjoyable places I have been. My wife is Russian and I have a lot of time in Russia and several of the former USSR countries. They can be about as direct as anyone and I do realize how direct people can be. Sometimes it is a bit shocking to us easy going Yanks.

Yes, we do have a lot more people here to use than they do there. That is if you are into using people.