2009 was a waste, a total waste financially and professionally. Hopefully 2010 will be better. The bottom-line is that I am in the midst of my most productive period of my life and if I do not make the most of it, then my life is basically wasted.
A quick review of 2009. At this time last year, I was not feeling that bad. Yes I was laid off from a job that paid $150K+ with a solid reputation but I was frustrated by lack of managerial support and the no chance of moving up. I was really afraid that I was going to be a "40 year old Associate" at the firm in couple of years. I had steadily lost respect of my peers. I was hoping that unsackling from that job would help me reach my promise and the layoff would be a "blessing in disguise". It has not been so thus far.
The first thing I did in 2009 was to try "day trading". I had wanted to do it for a long time because I thought I could take advantage of the market volatility on a intra-day basis to make a living if not a fortune. I signed up at a day-trading firm, Assent (part of Sungard) at the end of March when S&P500 was around 700. My initial results were dismal but I persisted. When my results did not improve by October by which time S&P500 was heading towards 1,050 I threw in my towel and quit.
After the day-trading debacle, I started looking for a job for an economist and a strategist. There were more openings than ever before so things look promising. I applied to dozens of places over 4/5 weeks period but I got no responses, not even rejections. Around Thanksgiving I was excited by an opening for a Strategist at Credit Suisses. I jumped at the opportunity contacting my old boss. I was surprised that he was so helpful. After contacting a series of senior and mid-level people over 2 weeks period, the HR rejected me with a one-line e-mail.
In December, I become very pessemistic about my chances of landing on a job, so I started considering alternatives. I wanted to see opportunities in franchising. I contacted a franchise consultant Jack Armstrong. He gave me 3 choices; hair-cutting, senior servies and tutoring. I rejected the first off-hand. Second, I talked to the franchise contact but decided against it - not ready to deal with old folks. I was intersted in tutoring but after doing some research I am becoming less optimistic. I am talking to them this week but I am very reluctant to pay $45K initial fee and 10% of revenue for a business I think I can do on my own. We'll see.
It is January, I am in a desperate mode. I signed up for at temporary agency. I am not sure how that's going to work. The bottom-line is that I need to start doing something, otherwise I might lose my mojo. I am going to contact my old bosses (Neal, Paddy and Kathleen), although I really don't want to. Basically I will consider all the options in the in Q1 to find a job. If nothing happens by the end of Q1 then all bets are off.
To be frank I have not been very enthusiastic with my job for the past several years. Although research is intellectually interesting I found that it is very difficult to get excited about. Moreover, it is very difficult to see the results of my research because it is so fungible. Ideas are around all over the place and it is very difficult to get ownership of it. Also nobody knows who, how and when it is used. And there is legacy part of it, which I realized after my lay-off. All my 10+ years of hard work fitted a in 8MB USB - I lose it I lose everything.
Ideally I would like to build/own an investment fund that invests in real businesses rather than stock market. That way I can be investor in Nepal one day. But who in the right mind will give me money for that at this time. In order to build credibility, I need to start and successfully run a business but do I have the mojo to do that? The important factors to consider are (a) have done the analysis of the busines - market size and growth potential, legal issues, operational issues, SWOT analysis, (b) can I find a partner to complement my by business skills (c) am I passionate about the business (d) do I have the marketing skills to bring-in the business (e) do I have the financial wherewithal to survive?
So far I like tutoring (a) it has low start-up costs but it is possible to scale it to a multi-million dollar business (b) I am interested in the education field (c) if this is a successful then it can be diversified into other complementary services like Children work & play, Daycare centers and other educational ventures (d) it can be done a part-time basis. But a lot of research need to be done including market analysis & SWOT analysis before considering it seriously. That's the January project.
This month I have to (a) deperately look for a full-time job - contacting all my previous bosses and colleagues (b) search for part-time job (c) do research on tutoring business.
Hopefully 2010 and the decade to follow will be more promising than the one before.
