The Economy of You: Discover Your Inner Entrepreneur and

The Economy of You: Discover Your Inner Entrepreneur and Recession-Proof Your Life Good read, Interesting perspective I never though about entrepreneurship being a small scale side project But I guess it is true Thank you for providing great ideas amazing work. The microbusiness is huge That s not just a play on words but an indisputable fact that millions of budding entrepreneurs have already figured out On top of adding to their income and creating safety nets in case the ax falls at work, they have been able to unlock their creativity and find a sense of fulfillment they never dreamed possible or rather day dreamed possible from their uninspiring cubicleIn The Economy of You, author and microbusiness owner herself Kimberly Palmer illuminates the everyday faces behind this growing movement, starting with her own journey Readers will meet a deli employee who makes custom cakes at night, an instrument repairman who sells voice overs on his website, a videographer who started a profitable publishing house on the side, and many other inspirational examples of those who have discovered how to turn their joys and hobbies into a profitable microbusiness Interwoven in the profiles are concrete guidelines for readers looking to launch rewarding businesses of their own, including Tips for figuring out the ideal side gig Ideas for keeping start up costs low Advice on juggling a fledgling enterprise and a full time job Branding and marketing basics that bring results When and what to offer for free And much Your employer can guarantee nothing but today s wages It s up to YOU to build real financial stability It s empowering, gratifying, and now easy to do with The Economy of You I hate the fact that a book like this has to exist That in today s economy, one job isn t enough you have to work two jobs or start your own side business to even keep your head above water The first of many problems I had with this book Palmer doesn t really focus on the underlying issues of why her book exists and why working 60 hours a week should be necessary Or why she even has to say that It s the combination of the full time job and the side gig, after all, that provides the greate I hate the fact that a book like this has to exist That in today s economy, one job isn t enough you have to work two jobs or start your own side business to even keep your head above water The first of many problems I had with this book Palmer doesn t really focus on the underlying issues of why her book exists and why working 60 hours a week should be necessary Or why she even has to say that It s the combination of the full time job and the side gig, after all, that provides the greatest financial security Each gives us a backup plan in case the other suddenly fails us With only a full time job, we are walking on a high wire sans safety net with just a side gig, we can find ourselves lolling in the safety net, unable to climb to the greater heights that the connections, support, and backing of an employer can provide 138 Although I question her inclusion of the safety net Considering how tiny unemployment checks are I was receiving around 320 week in northern VA, which barely covered shared rent and food for the month, let alone health insurance I hesitate to really consider this a safety net She mentions that jobs are precarious, but why After the intense struggle to make the 40 hour work week standard, why must we now switch to a longer work week to even remotely come to the standard of living as our parents As a writer for U.S News and World Report, I expectedof her than this Saying that things are bad start a side gig without even briefly mentioning what goes on between the condition and the result Such logical jumps, though, are a hallmark of this book Palmer jumps over the difficult middle parts, preferring to focus on the end result This is fine in showing successful examples, but it s not helpful in figuring out the steps to success It s just Bob liked making wooden toys So he opened up an Etsy shop and now makes 500 a month What all goes into success, readers don t know Perhaps we re to read books on entrepreneurship and business strategy But Palmer doesn t point us in that direction there are no endnotes or a suggested reading list As if getting a single full time job wasn t hard enough let alone starting a side gig, Palmer gives us another sign that employers are ridiculous although I m choosing to believe that the sample size was very small and skewed A 2012 survey by Generation Y consultancy Millennial Branding found that one in three employers say they now look for entrepreneurship experience when evaluating potential hires 22 Oh great As if the job market isn t hard enough out there, now employers seem to want eventhan before to find their purple squirrel And speaking of sample sizes and demographics while I know that Palmer is a DC area author, could we have branched out a bitto find examples of entrepreneurs who weren t in the DC metro area and who had other skills besides consultants and bloggers Talk about a skewed sample Nearly all of Palmer s examples were from the DC area, and by general association, already had a lot going for them presumably college educated, significant networks, living an area that wasn t hit nearly as bad by the continuing recession and would be able to support new businesses, and financial stability It s the same problem I had with Lean In Women, Work, and the Will to Lead the lessons learned are only for the elite, for the people who already have such a significant leg up on the competition, who have the ability and the know how to capitalize on things learned from their job This is not a book for the average, the people who live in areas where there is very little money how can a new business service succeed if nobody has the money to pay for it Milk Bookies 133 is a great idea for only people who have the disposable income to spend on it For many areas, this is not the case , people without significant networks, people without creativity, or people without pre existing financial support.Palmer notes that many of the successful side giggers I met also spent months or even years unloading debt, building up savings, and getting in better financial shape as they prepared to launch their side businesses 40 Does Palmer not realize what a position of privilege these people are already in To actually have the ability to pay off debt and building savings Having the spare cash to do either of these things is becoming increasingly rarer, but Palmer just brushes it off, like if you just try harder, then you ll have the money, too Stop buying lattes and you ll be fine NO And, as Palmer cleverly hides in an appendix, community finances aren t what they used to be, either When quoting James Logie, handyman, he notes People s willingness to pay has gone down with the economy I had to lower my rates to stay employed In the mid 2000s, I could charge 50 an hour now I charge closer to 30 an hour 196 This is such an important aspect of the gig and new economy, but Palmer chooses to bury this fact People just don t have the money they used to and or they re savingin order to continue supporting entrepreneurs and micro businesses like they used to, and yet this is the mechanism that is supposedly going to save us Further, Palmer expects her readers to have a solid day job that they can leverage 90 What about the people who don t have a solid job that provides them opportunities to learn new computer programs, networking abilities, and a flexible work schedule Don t even start with just ask for it a la Lean In It is precisely because our jobs are precarious that the need for a side gig even exists Asking for something from our employers could give them the push to let us go As for networking and developing connections, just about every example in this book relied on someone s connections What if you don t have those connections that enable you to get business Some of what Palmer writes dovetails nicely with another book I read recently, The Up Side of Down Why Failing Well Is the Key to Success, although McArdle better explains failure Palmer devotes a mere 10 pages to recovering from failure even though, as McArdle details, entrepreneurs arelikely than not to fail.What I did enjoy begrudgingly accept as truth, given the state of things Instead of focusing so heavily on corporate recruiting and job openings see also book Young Money Inside the Hidden World of Wall Street s Post Crash Recruits 17899438 , forward thinking college career offices will emphasize how students can build marketable skills on their own, through entrepreneurial projects New college graduates will expect to pairtraditional office jobs with after hours freelance work 153 This is a fantastic book and I am in love with it Kimberly Palmer offers super practical advice on how to start sidelines side gigs, as she calls them no matter what you are doing now Whether you are working full time, part time, in college, or are unemployed or a stay at home parent, this book will inspire you with the stories of real life people and show you their websites so to see what they did and what you can do including the author and how they have recession proofed their lives w This is a fantastic book and I am in love with it Kimberly Palmer offers super practical advice on how to start sidelines side gigs, as she calls them no matter what you are doing now Whether you are working full time, part time, in college, or are unemployed or a stay at home parent, this book will inspire you with the stories of real life people and show you their websites so to see what they did and what you can do including the author and how they have recession proofed their lives with their own side gigs, small businesses that require nearly nothing to start, can be done in your spare time and use the internet as a power tool for success I have found this sort of thing to be a lifesaver for me over the years but she takes it to new heights with the use of the internet to create success The book is written in a friendly and positive yes you can do it and a I am right by your side tone The website addresses and list of 50 top side gigs you can do at home alone are worth the price of the book One man left a 65,000 a year job in a business that later closed to run the side gig business he had begun and now makes 250,000 a year with it Want to recession proof your life in the age of a Corporate America that doesn t give a damn about workers Read this book Highly recommended Kimberly Palmer, MPP 04AuthorFrom the author The biggest trend in business is the microbusiness Financial columnist Kimberly Palmer illuminates the everyday faces behind this growing movement, starting with her own journey Recognizing that journalism offers little job security these days and with a baby to provide for she decided to develop a series of financial planners This supplemental business was soon providing a reliable income stream The Economy of You recounts story after story of Kimberly Palmer, MPP 04AuthorFrom the author The biggest trend in business is the microbusiness Financial columnist Kimberly Palmer illuminates the everyday faces behind this growing movement, starting with her own journey Recognizing that journalism offers little job security these days and with a baby to provide for she decided to develop a series of financial planners This supplemental business was soon providing a reliable income stream The Economy of You recounts story after story of people who like Kimberly are liberating themselves from financial strain A deli employee who makes custom cakes at night An instrument repairman who sellsvoice overs on his website A videographer who started a profitable publishing house on the side Kimberly Palmer did a great job with this book It relates to the average Joe who might be wanting to start his her side business or who might be cautious about his her current job status Great stories about real people who are side giggers to relate with However, all you get will be stories and the personal journey of the author s side gig business Tips and advice are good but nothing exceptional Also, worksheets for The Economy of You are available through her website by subscribing throug Kimberly Palmer did a great job with this book It relates to the average Joe who might be wanting to start his her side business or who might be cautious about his her current job status Great stories about real people who are side giggers to relate with However, all you get will be stories and the personal journey of the author s side gig business Tips and advice are good but nothing exceptional Also, worksheets for The Economy of You are available through her website by subscribing through email Not the book I was expecting I checked it out at the library with other books because I was looking for some good business books to help me make a transition in my career After the first 50 pages, I realized it wason entrepreneurship than leveraging strengths Palmer does a good job outlining ways to develop your home business, a side gig and other tools to help you launch your own business She quotes many great authors and examples most of which I have already read their works or hear Not the book I was expecting I checked it out at the library with other books because I was looking for some good business books to help me make a transition in my career After the first 50 pages, I realized it wason entrepreneurship than leveraging strengths Palmer does a good job outlining ways to develop your home business, a side gig and other tools to help you launch your own business She quotes many great authors and examples most of which I have already read their works or heard their examples in other sources like podcasts Her writing style is professional, but didn t draw me in just my personal preference Lastly, she used the example of Tom s Shoes Other than being in so many business books, I found in my research that Tom s Shoes has great intentions, but hurtsthan it helps The free shoes they are giving to people is a short term help that creates a long term crises This is because it actually destroys the local cobbler businesses see Poverty Inc a documentary currently on Netflix.In summary, I wouldn t turn people away from reading the book I just thought it was ok from my experience and other authors she quoted resonatedwith me If you have dreams of starting a side hustle or have no clue where to begin, then The Economy of You by Kimberly Palmer should definitely be on your reading list It will get you to stop overthinking and just start doing Even if it is the smallest step At least you will be moving in the right direction enjoyable now just to put some of it into practice. Not much I didn t know, but has inspired me to keep going keep trying new ideas Not much I didn t know, but has inspired me to keep going keep trying new ideas


About the Author: Kimberly Palmer

Kimberly Palmer, author of The Economy of You Discover Your Inner Entrepreneur and Recession Proof Your Life, was the senior money editor at US News World Report for nine years She is an adjunct professor at American University, where she teaches a course on mastering social media She lives with her family, including two children, in the Washington, D.C., area.


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