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September 28, 2009
The day Max Ostby lost his job turned out to be one of the best days of his life.
As the economy soured, Ostby, 34, an environmental consultant from Iowa City, fell short in sales and was let go in March prior to his employer’s merger. But what began as shock morphed into the chance to realize his long-time, long-term plan.
“I was in a state of shock that first 24 hours,” Ostby said. “Now, I view it as absolutely the best day of my professional life, losing my job.”
Within 10 days, Ostby, who has three kids, filed papers to start his own business, Green Way Environmental Consulting, which conducts phase-one site assessments, tests for mold and asbestos and checks water, air and soil quality. Ostby’s goal now is to go from unemployed to employer within one year, he said.
While layoffs mount, some people are forgoing the job search and venturing off on their own. Some officials familiar with business trends say layoffs and a bad economy have long proved to be an opportunity.
Lynn Allendorf, managing director of the John Pappajohn Entrepreneurial Center at University of Iowa, said job loss, particularly during a down economy, has traditionally been a popular time to start your own business.
“The opportunity cost goes down to some degree because you are not giving up a cushy job,” Allendorf said.
Joe Folsom, district director for the U.S. Small Business Administration, declined to provide data because he said his agency prefers to control the context of how it is released, but said enrollment in pre-business workshops are up.
“It happens to those individuals that have been contemplating those decisions for some time. A change in employment motivates them to do that,” Folsom said.
Succeeding in a down economy also can serve as a good barometer of a fledgling company’s long-term potential, he said.
“If you can start it in today’s environment, and can be successful in today’s environment – find your niche, find your competitive advantage -- you’ve positioned yourself to be at a better advantage when the economy does turn around,” Folsom said.
Laura Taylor, 43, of Iowa City, took a different approach when she was laid off as marketing director at Buckle Down Publishing effective Jan. 1, 2009 – that company is now defunct. Taylor, and her family of six, moved to Iowa City for that position six months before she was laid off.
Taylor struggled with the job search route for months with no bites. She faced both a lack of opportunities and being overqualified for what was available.
“At points I was feeling like I am back to being a college graduate out there competing with all the other people out there. Then at other times I felt I am worse off,” Taylor said. “Other days I asked myself, 'Do I just totally downplay what I have been doing for the last 15 years just so I am able to get something?'”
But Taylor remained optimistic. As she continued searching, she picked up a few consulting projects, and over time her client list grew. About a month ago, operating as ALEAMI Marketing Services, Taylor said she had decide – does she continue applying or is she going to make a go of it on her own?
The answer was clear, she said. There was no going back.
“I am feeling pretty good that nine months later I have gotten myself back on track," Taylor said. “In some ways, as weird as this might sound, I almost feel more stable having my own set of clients that I am doing a variety of projects for. I am working more than full time, but I love what I am doing. There is that satisfaction because it is your own business.”
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