More on the Jobs Act

The President on September 8, 2011 said his administration will: pay businesses faster, cut the red tape that prevents start-up companies from raising capital and going public, and help more people refinance their mortgages at the now lower rate which can put more than $2,000 a year in a family’s pocket. He said Congress passed a bill that will speed up the outdated patent process and now it’s time to clear the way for trade agreements that allow American companies to sell their products in other countries. (On October 13^th, it was reported that Congress passed free trade deals with South Korea, Columbia and Panama.) He said he’s brought together a jobs council with leaders from different industries to develop new ideas and help companies grow; already mobilized businesses to train 10,000 engineers a year through company internships and other businesses are covering tuitions for workers to learn more skills at community colleges. We’ll make sure the next generation of manufacturing takes roots here not in other countries. If we make the right incentives, the right support and make sure our trading partners play by the rules we’ll be number one.

I’m happy to hear things will be made easier for start-up companies as laws are usually implemented that put small businesses out of business while corporations seem to get breaks. If the cuts in payroll taxes that the President was talking about are directed at unemployment payments then I’m okay with that. (Effective July 1, 2011 employers will pay the government 6.0% of their gross employees’ payroll for unemployment (dropped from 6.2%). This will reduce business costs and the government should only be in trouble when unemployment is high. (Now, I understand why the Democrats think it’s important to create jobs; more revenue and less expense for entitlements.) 

With easier start-ups for businesses, an option to finding a job is to start your own business but only if it really appeals to you that you don’t want to work for someone else and have the enthusiasm and work ethics it takes to make it. Kathy Ireland said if you’re not being rejected regularly maybe you’re not trying hard enough and people can sense if you have a passion for what you do. She also says whatever material things you have to give up to live your dream is not a sacrifice but a bold investment. And someone else said - Have the courage to use failure as a tool to pick you up and move forward to something better. And, I remember Oprah saying -Keep your eye on the prize.

Steps to starting your own business according to Ms. Johnson on GMA are:

1.   Choose your business. A service business based on your expertise is easier to start than a product business. Competition is okay because it means there’s a market for your business. You need to do what it is you want to do really well.

2.     Create a one-page business plan that is very fluid. ABC has a template on their web site.

3.   Keep starting costs low. Fund your growth through sales. Be creative, for example find a church or community center that will let you work out of their building.

4.    Know your customer. Look at pricing, packaging and ingredients and where you’ll sell your service or product.

5.  Price your product or service for profit and sales. Value your time and talent. There’s a formula on the web site (abcnews.com/gma).

6.    Sell, sell, sell - You can’t be in business if you don’t sell your product or service. You can get active in the social media, make a list of 50 prospects and get on the phone.

Bob and Danielle Rosenberg of Long Island didn’t exactly follow Ms. Johnson’s plan but they did start their own business. After not being able to get a job in the area of his expertise; they opened up Moolala. They knew there were self-serve yogurt shops in California and not on the east coast. So they tapped their savings, home equity and their relations and got a $150,000 government guaranteed loan. They’ve been open for a year and employ 15 people, sponsor a little league team and will be making more this year than he did before being laid off from his job.