If you’ve been laid off recently or anticipate a future layoff, you’re not alone. So far in 2025 (January through June), layoffs and discharges total 10 million, which is 3.5% higher than the same period in 2024 (USAFacts). If the thought of returning to a job market that offers steep competition and lowered expectations keeps you up at night, don’t lose hope. Take alternative action. It may be time to consider business ownership.

Create a sustainable career that frees you from ever needing to job search again

Our mission is to empower career seekers and current business owners with the knowledge, tools, and confidence they need to create and sustain thriving businesses. We’re committed to fostering innovation, providing practical guidance, and building a supportive community that helps business owners overcome challenges, unlock opportunities, and achieve lasting success.

We’ve identified the following criteria that will reduce risk and help create a lasting business.

The Benefits of Business Ownership

1. Financial Potential

• Unlike a salary, your income isn’t capped—you can scale profits as your business grows.

• You’re building an asset (the business itself) that can be sold or passed down.

• Tax advantages: business owners often deduct expenses (equipment, travel, home office, etc.) that employees can’t.

2. Independence & Control

• You decide your vision, strategy, and daily operations.

• No boss—you set the rules, policies, and priorities.

• Flexibility to choose what clients, projects, or products you pursue.

3. Creative Freedom

• You get to innovate, experiment, and bring your ideas to life.

• Freedom to build a brand or culture that reflects your values.

• Ability to pivot quickly without corporate red tape.

4. Personal Growth

• Running a business forces you to learn leadership, sales, marketing, finances, and negotiation.

• You develop resilience and problem-solving skills.

• Many owners say entrepreneurship transforms their confidence and mindset.

5. Lifestyle Flexibility

• Potential to design your schedule (work around family, travel, or personal goals).

• Location freedom—many modern businesses can be run remotely.

• Ability to align work with your ideal lifestyle (not just a paycheck).

6. Impact & Legacy

• You directly impact your community by creating jobs, supporting suppliers, and serving customers.

• You can shape an industry niche or solve problems others overlook.

• A successful business can become part of your family legacy or long-term wealth plan.

7. Sense of Purpose & Fulfillment

• Pride in building something that’s yours.

• Deep satisfaction in seeing customers benefit from your product/service.

• The journey itself often provides meaning beyond just making money.

In short: Business ownership offers freedom, financial upside, and the chance to create impact—all while pushing you to grow personally and professionally.

The Main Risks of Business Ownership

1. Financial Risk

• Most businesses take time to become profitable, so there’s pressure on savings and cash flow.

• You’re responsible for covering expenses (rent, payroll, inventory) whether sales come in or not.

• Borrowing money or investing your own savings creates personal financial exposure.

2. Uncertain Income

• Unlike a paycheck, business income can fluctuate month-to-month.

• You may go months without steady pay in the beginning.

• Recessions, market shifts, or customer loss can hit hard.

3. Workload & Stress

• Owners often work longer hours than employees, especially at launch.

• You carry the mental weight of every decision—finances, employees, customers.

• Burnout is common if boundaries and systems aren’t built early.

4. Responsibility & Liability

• You’re accountable for legal, tax, and compliance issues.

• Mistakes (like poor contracts, unsafe practices, or missed taxes) can lead to fines or lawsuits.

• Even with insurance, some liability risks remain.

5. Uncertainty & Risk of Failure

• Statistically, many small businesses close within the first 5 years.

• Even with effort, factors outside your control (competitors, technology shifts, pandemics, etc.) can disrupt success.

6. Isolation

• As an owner, you may feel alone—especially without a strong support system.

• No built-in coworkers or corporate team to lean on for daily guidance.

7. Work-Life Balance Challenges

• The line between “work” and “life” blurs, especially if you run the business from home.

• Vacations, weekends, and family time may suffer until you build a reliable team.

Bottom line: Business ownership can be rewarding, but it’s not “freedom without effort.” The freedom comes after you navigate risk, uncertainty, and heavy responsibility.

Overcome the Risks

Validate Your Idea

• Make sure people actually want what you’re offering.

• Talk to potential customers, run surveys, or create a small test version of your product/service.

• Look for real problems you’re solving, not just a “cool idea.”

1. Is the Market Ready?

• If customers aren’t yet aware they have the problem you solve, your business may be “too early.”

• If too many competitors already dominate, you may be “too late.”

• The sweet spot is when demand is emerging, but supply (competition) hasn’t fully caught up.

2. What are Current & Future Economic Conditions?

• Launching during a strong economy can boost sales, especially for discretionary products.

• In tough economies, essentials and cost-saving services often thrive, while luxury or “nice-to-have” offerings struggle.

3. Is this a new Technology Cycle?

• New tech can create opportunities (e.g., mobile apps during smartphone adoption).

• Being aligned with—or ahead of—these shifts can put you in front of a growing trend.

4. Are you Personally Ready?

• Timing isn’t just external—it’s about your own life and capacity.

• Do you have the savings, support system, and bandwidth to endure the inevitable ups and downs?

• Sometimes waiting 6–12 months to build reserves or gain key skills is smarter than rushing.

5. Is the Timing Right?

• Retailers often launch before peak buying seasons (holidays, summer, school year).

• Landscapers thrive by starting in spring, tax preparers in early year, etc.

• Aligning your launch with industry cycles can help you ride natural demand waves.

• If you launch while competitors are distracted (e.g., an industry shakeup, or while big players shift strategy), you can capture market share.

• Entering right when customers are dissatisfied with existing options creates momentum.

• Rarely will conditions be “perfect.” What matters is recognizing whether the environment favors you and adjusting accordingly.

• Some businesses succeed by being early and educating the market; others succeed by being fast followers and improving on existing solutions