Word to the Recession

As I read about the rising unemployment numbers in the Times this morning I see the silver lining. I can’t help but to see it because the silver lining of this economic mess has become my company’s greatest asset. Years ago, a successful entrepreneur told me that extremely low unemployment is bad, perhaps even worse than extremely high numbers. In the late 90’s when unemployment was low (3 or 5%) due to the Internet boom there was a softness to the economy. Because it was relatively so easy to get a job no one was hungry. Unqualified folks were overpaid and businesses were over valued. When unemployment numbers are high workers work hard. The job you have is all you’ve got. Tardiness decreases, sick days drop, and efficiency tends to go up. As my friend said, the ups and downs of the unemployment numbers keep the workforce in check. With 9.5% unemployment and this recession I am seeing something else. Scores of qualified people laid off. Not because of job performance but because of a preponderance of external factors. Combine that with the President’s extension of unemployment assistance and you have a lot of qualified people with time and financial resources. The illusion of security at a ‘good job’ lost, these folks are taking the time now to pursue their passions(s). The Brooklyn Bodega and the Brooklyn Hip-Hop Festival have become a beacon for these un and under employed soldiers. People who were told to get a good job with health benefits and 401(k)’s instead of becoming a journalist or T-Shirt designer are realizing what The Bodega has known all along. It’s all bullshit. The size of your paycheck or the brevity of your insurance premium is not what life is about. The only good job is the one that you love. And if you love it and do it well the money will come. As a life long entrepreneur I have often questioned my choices. In those lean months I have thought ‘what the hell I am doing?’ I think about my mother’s incredulous look in 1995 when I quit my job at Boy’s Harbor with a salary and benefits to intern at Max’n Records for free. I would be lying if I didn’t feel a sense of vindication as I see those who mocked me (out loud and cowardly under their breath) scramble as their ‘good job’ casts them out like yesterday’s recycling. After my brief gloating I realize that we have both learned the same lesson. There is no security. There is no good job. There is only you and your passion. And whether you are on Wall Street or in a small office in DUMBO the reality is constant. Be happy. Do what you love and do it well. I, myself, have a renewed pep in my step as the crash from the Festival is over and we re-up. For the first time in my career my resources and my ideas are equal. The reason for this is because I sat in a room last night with a group of people who realize there is no time to waste. This recession is going to be a vitamin shot for entrepreneurship. And you’d better get it before those unemployment checks run out