Times are tough. The economy is uncertain. Bank accounts are slender.
The natural human response is fear. Fear of lack. Fear of suffering. Fear of going without. Fear of the unknown.
Thanks to the amygdala part of the brain (that performs a primary role in processing memory and emotional reaction), we begin to hear the monkey start talking over our shoulder: “You can’t afford that.” “Don’t spend your money! What if…” “Don’t do that! You don’t know what will happen!” “Hold on to every penny!” “Don’t take that risk!”
Thankfully, not all of us listen to the little monkey. Thankfully some of us hand him a banana, say ‘Thank you for sharing’ and go on about our lives, pursuing our Life’s Purpose and creating new and different things:
Three years after a major investment firm collapses – causing the NYSE to shut down for days and an ensuing financial crisis that lasts six years – a 29-year-old scientist opens a laboratory. Economic conditions would remain poor for another 20 years. Yet during that time, Thomas Edison’s lab at Menlo Park grew to occupy 2 city blocks, created numerous patents and in 1896, Edison’s General Electric Company earned a spot on the newly formed Dow Jones Industrial Average, and remains there today – the only remaining company of the original 12.
After living in his company office, then his firm filing bankruptcy, a 22-year-old man moved 1,600 miles away to join his brother in founding another company. The brothers worked out of their uncle’s garage for 3 years. Then, in 1929 – the middle of the Great Depression – the brothers reincorporated under the name Walt Disney Productions.
During a period of rising unemployment and inflation, stagnant GDP and huge spikes in the price of gasoline, two friends found opportunity in creating a company to sell operating software to the new market of home and personal computers. Have you ever heard of Bill Gates, Paul Allen and Microsoft?
Odds are, you are viewing this message and conducting your business on a personal computer of some sort, that is being powered by electricity, and at some point in your life you have found joy, laughter and entertainment from the Imagineers at Walt Disney.
Aren’t you glad they didn’t listen to their monkeys?
So what does this mean for you as a Third Act entrepreneur?
A recent article from USA Today notes that in the recession of the early 90s, 25% of downsized executives over 40 started their own companies. One might think that, perhaps, recession is a natural way to clean house and restart the economy anew, even if it can be very painful.
Maybe you spent years tinkering with a product in your garage. Maybe you have an idea for a special service or heart-based business from home. However, until now, you have been holding down a full-time job, raising children – doing the Done Thing. You have never had time to go ahead with your inventions or ideas.
Now, your children have moved out of the house, starting their own lives and careers. During this most recent recession your job status may have changed, that security net of stable employment and benefits is no longer there.
Welcome to your Third Act. Time to get serious about your business and why you are here. You have plenty of life to live and it is NEVER too late to open that laboratory, move 1,600 miles away, or create that next household product. Of course, creating your business does not always require such huge and drastic measures and yes, you can start, and even up level an established small business during a recession.
Do you realize that a business that YOU run will have the same struggles and the same issues that YOU have in your personal life? Can you look back and see perceived ‘failures’ and ‘issues’ in your business that parallel the same type of events in your personal life?
Darren Hardy shares: “This poignant distinction was once shared with me: Before you build your business plan, build your LIFE plan. Figure out what kind of life you want to have FIRST – where you want to live, what type of people you want around you, whether you want to work nights & weekends, how you want to dress, etc. THEN build your business plan around these criteria. I was once doing this all backwards… you?”
Ready to ignore the MONKEY?? Join us at The Nourished Soul: Caring for Your YOUniverse, April 12-14, Atlanta, GA by going to www.thenourishedsoul.com.
Article courtesy of Heather Harmon, Event Coordinator for The Nourished Soul