Is Entrepreneurship Really That Risky?
by John R. Sedivy
Not compared to the recent state of employment. Risk is relative, and all things considered this may be the right time for many on the edge of taking the entrepreneurial leap to take action and start a new business. Entrepreneurship is tough, but from what I am reading about the government and corporate sectors – they are not a walk in the park either. As an entrepreneur you are building equity in your business as well as yourself – not so much as an employee. Let’s discuss further.
Battling Temptation
My first year as an entrepreneur has been tough – really tough. Probably the most difficult experience in my life – and I have had many of those in the past. Let’s consider the difficult stuff first – uncertainty, sickness, stress, lack of structure, adjusting to a new lifestyle – these are just a few that I have come up with off the top of my head. If I would have known just how difficult I may not have taken the leap – but in hindsight it was the best decision I had ever made.
When things were really tough, I felt the temptation to plan a return to the corporate sector. But just as I get close to acting on such foolishness, I would come across an article like “On A Furlough, But Never Leaving The Cubicle” as published by the New York Times a couple days ago. This would quickly send me back to reality. Of course, the further down the path you are, the less the temptation occurs.
Not So Fast
Being a former cubicle dweller the title sounds pretty depressing to me. I recommend reading the article, but I will give you a summary of the main points. First, government and industry are asking their employees to take a one day break (unpaid of course) in order to save the organization by cutting costs. Many employees, although they could not afford to do so, looked at the bright side – besides who wouldn’t want three day weekends? But what has happened is that many are working the day off as unpaid – in the “hope” that their manager will keep them around when the next ax falls.
Entrepreneurship & Unpaid Time
As entrepreneurs Amy and I have put in many, many unpaid hours building our businesses. But what generally occurs is that a payoff will hit just when you least expect it. Initially the payoff is enough – in terms of time and size – to keep your head and the business above water. But over time these payoffs occur more frequently and the risk of entrepreneurship becomes less risky. From my perspective, no time in an entrepreneurial venture is truly “unpaid.”
Now with a year into entrepreneurship I find it less risky than “stable” employment. Why? Because as an entrepreneur I have many irons in the fire which strike at various times. Between Amy and I we spread the risk even further by having more combined irons. If business is slow we work harder, we do not “reduce our workforce” by firing one other. As an employee my livelihood was with one company, or even one individual. I can relate to the employees in the Times article – concerned with the employers perception and hoping that your boss would like you enough to keep you around. As an entrepreneur if you add value the marketplace will keep you around.
For those really considering entrepreneurship and stating a new business I highly recommend finding a partner. Not necessarily a structured partnership, but someone with similar objectives – the main benefits being that you can keep one another on track and motivate one another when needed – this also helps build momentum. For more on the benefits of partnership ready Amy’s article – “The Key To Successful Business? Partnership.”
Relatively speaking entrepreneurship may not be that risky!
-John R. Sedivy of Cape Cod Branding
Vegetable Garden-Week 2
by Amy Stevens Adams
Two weeks ago, John and I planted a vegetable garden on our back deck, with the help of our container gardener, Fiona. Every week I’m snapping pics of the garden so I can document the progress. It has been a very rainy couple of weeks here on Cape Cod and everything in our yard has been growing like crazy, garden included. The planter is filling in nicely and I’m excited to think I’ll have some veggies in just a few more weeks. If you’d like to track our garden along with us, you can see the initial photos, a list of what was planted and info about our gardener, Fiona by reading John’s post, “The Container Gardener”.
This week, the biggest change was the garlic. It hadn’t even begun to sprout last week, and now it is 4-6 inches tall! Very cool.
In the middle of the garden are half-moon rows of basil, lettuces (bibb, mesclun mix and romaine) and carrots and radishes. They are all sprouting up and will soon fill in the garden.
Here is my rose bush on the bedroom side of the deck.
One of the most important things I planted was Chives. We eat them in almost anything I make with potatoes; baked potatoes, loaded mashed, potato salad, etc. This week I made my mom’s recipe for potato salad for the first time this season (I think of it as a summer dish, although it is certainly good year-round) and filled it up with fresh chives from the garden. The chives were one of the herbs I bought already grown so it has been ready since day one, but continues to grow and fill-in. I sniped off several straws of it to chop up for the salad.
Here is the recipe;
Potato Salad
2 lbs Red Bliss potatoes, boiled
3/4 cup mayonnaise
2 TBSP chopped fresh parsley
2 TBSP chopped fresh chives or scallions
1TBSP unseasoned rice wine vinegar
1 TBSP lemon juice
1/4 tsp each salt & pepper
Slice the boiled potatoes into 1/4″ thick rounds. Allow potatoes to cool in a large bowl. Combine all other ingredients into a dressing, and toss lightly with potatoes. Check seasoning and chill until ready to serve.
Since there are only two of us that I cook for, I have a couple hints for the recipe. I make the dressing ahead (with just the mayo, lemon juice, vinegar and salt & pepper) and store it in a container in the fridge. Then when I make the salad, I just boil two small potatoes, slice them, shock them in ice water to cool them then add the parsley and chives and mix in a couple spoonfuls of the pre-made dressing. This way I can make fresh potato salad for lunch without it taking too long.
To read last week’s tip on how to dry fresh herbs and store them for winter use, read my article, “Vegetable Garden-Week 1″.
Check back weekly for more updates, pictures and recipes!
-Amy Stevens Adams of Cape Cod Branding
Is Knowledge Power?
by John R. Sedivy
Many have likely heard the saying “knowledge is power” and would not doubt the truth in this statement. I would agree, at least to some extent. Truly the more knowledge one possesses the better off they are. However, there is also some truth in the saying “ignorance is bliss.” 
I remember coming across a simple yet profound concept in the book “Shut Up, Stop Whining & Get A Life” by Larry Winget. The concept was that “knowledge is power” is false, at least to some extent. Larry Winget argued that it is not knowledge that is power, but the “application” of knowledge that is power. Anyone who has ever read or seen Larry Winget, the so-called “Pitbull Of Personal Development” knows that my writing has watered down his edge a bit, however the point is the same.
The PhD & The President
Consider this for a moment. There are many people out there with an immense amount of knowledge, either self taught, or through formal academic degree programs. There are many with said knowledge who cannot effectively apply this knowledge. One instance is the PhD from a leading institution working for a company president without formal education. On paper, the PhD appears to possess more knowledge, and should have more power. However the company president, who in this instance contains less formal education, has more power – due to his being able to apply his knowledge.
It’s All In How You Use It
Knowledge is a great thing. I have a tremendous thirst for knowledge that drives me forward each day. However, what is better than knowledge is considering new ways in which to use this knowledge, and ultimately apply it – to better myself and others.
Think carefully about your quest for knowledge. Do you collect knowledge and let it linger within yourself? Or do you take this knowledge, consider how to better yourself and others, and then set out to apply this knowledge to create new beauty in the world, or correct an existing condition? In the past I was the former. I would collect knowledge, use some, but a large amount lay dormant and unused. In recent years I have thought more about how to effectively use my knowledge and eventually went out of my way to find new areas in which to apply it. I have found that this not only increases other skills related to the application of said knowledge, but also drives me to learn more, at a faster rate.
You may ask how one goes about applying new knowledge. Awareness is the first step. Next time you learn something new, think about how you can apply this knowledge to your life somehow. This may seem difficult at first, but will become easier with time. Just as gaining knowledge once took practice in your formative years, so does the application of knowledge. However over time, like anything else, practice makes perfect and the act of discovering and applying new knowledge will become second nature.
Knowledge in and of itself is not power – the application of knowledge is power!
-John R. Sedivy of Cape Cod Branding
