What Is Defensive Entrepreneurship?
Defensive Entrepreneurship is starting a business or businesses as a hedge against job loss or other financial setback.
These "spare time" ventures are usually conducted at night ("moonlighting") or on weekends. They are sideline businesses that provide extra cash in good times that supplements your full time gig. However, they can provide stop gap help in tight spots in the event of a job loss. This happened to me a few years ago-- I had a sideline business that I did full time as I looked for a new job after a layoff.
What type of business? That's up to you. You might have:
- A skill that you can develop or exploit (maybe you are a talented carpenter)
- A talent that can be marketed (music instruction or photography)
- A sideline franchise business (I once worked with a guy who had a Mister Softee ice cream truck)
- A project oriented gig (seasonal contracting)
- A consulting business (I have done part time consulting work for small businesses)
You may want to try Multipreneuring (I will expand on this in an upcoming post) . . . Think several businesses-- not everything succeeds.
One final thought (Warning): Avoid any conflicts of interest with your employer, you may need permission. My view is to keep quiet and a low profile (The Art of Keeping a Low Profile).
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