The Great Resignation teaches us we’re all entrepreneurs
By Roger James Hamilton, Founder and CEO of Genius Group
Whenever there is a crisis, especially a global one, people tend to become very self-reflective, question what they’re doing with their lives and ultimately seek purpose. This was true of the pandemic – it essentially changed the way we work, live and importantly, the way we think.
For millions of Americans, working for someone else in a 9-5 job had lost its appeal, and a and a report carried out by the Census Bureau’s Business Formation Statistics revealed 5.4 million start-up business applications had been submitted during 2021 alone. This surge in start-ups followed not only people opting to leave their jobs but also a number of people losing their jobs due to budget cuts and many corporate companies downsizing teams.
Among the rise in start-ups, many of those were within the tech industry and following the pandemic we have witnessed many traditional offline sales sectors such as real estate become successfully digitalized, using online platforms to promote properties along with virtual tours.
Although the last couple of years has resulted in significant losses for some companies, it has also created new opportunities for many entrepreneurs. Shutdowns in the hardest-hit industries have opened up space for new companies that can now provide clients with new products at better costs and those businesses without online stores had to reconsider their strategies. We have reached a new age, where we must pay attention to the expanding need for fresh virtual solutions and address it by introducing new services.
Entrepreneurs that are embracing these challenges and self-educating themselves on how new technologies can benefit their businesses are the ones that are achieving success. They are the ones who are creating jobs not trying to find jobs.
It is so vital now to start thinking globally. With a global approach to education and business so much can be achieved. People can start collectively tackling global issues, such as poverty and lack of education and through a common goal and purpose, these problems can be eradicated to provide a better world for future generations.
This new era of working means a much more individual-focused approach. A shift away from generic training courses and a one glove fits all mindset, the entrepreneur of today is focused on understanding that each person in their team has different talents, needs, obligations and motivations. Ultimately, people will deliver better outcomes and enjoy their working lives more if their leader understands them and they have a better understanding of their colleagues. This transition is in the early stages for many businesses and it requires a change in mindset and way of operating, which can prove more challenging for large corporations compared to entrepreneurs and start-ups.
The rise in entrepreneurs will disrupt the traditional educational model of learning and training for one specific job role. Instead, we’ll see a commitment to life-long learning and continuous reskilling and upskilling to be able to work across many different areas of business. This will also bring about more forward-thinking ideas and concepts as people move out of their comfort zones and allow for a fresh perspective and way of working with others. Ultimately, this empowers entrepreneurs to discover their true purpose and inner genius, benefitting the business and everyone they collaborate with.
‘The Great Resignation’ is actually ‘The Great Re-ignition’ that society needs, as archaic models of business and education are fast becoming irrelevant in our digitalized world. Many people lack the skills required for the future job market and we must either educate ourselves on new ways of working or risk being left behind. The rise in entrepreneurs shows that many have already grasped this and are choosing to embrace the future.
What has become apparent is that being an entrepreneur is much more than owning a business, it is about shifting consciousness and unlearning certain business practices, challenging our restrictive views on wealth and leadership. To become an entrepreneur starts with a lot of self-reflection – am I happy in my role? Are my strengths being used in the right way? Where do I want to be? Pursuing our passions will lead to insights into what our impact and purpose can be in a much wider context.
This exciting entrepreneur movement, following The Great Resignation, has shown that so many people across the globe have experienced that shift in mindset. They are re-evaluating their lives and purpose and will lead the way for others seeking the same. Turning the crisis into an opportunity means we can all be entrepreneurs and shape the future for the better.
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