The Mystery Behind a Disappearing Workforce and Rising Number of Entrepreneurs Across Industries.

In this article, I will delve into the intriguing transformation we are witnessing in our workforce. The phenomenon of some jobs fading away, where a new generation of entrepreneurs are on the rise. In this ever-evolving landscape of industries, this is a fascinating shift driven by mindset and determination, and not a mere illusion.

I’m also sharing a sort of checklist, a kind of tool for aspiring and seasoned entrepreneurs alike, to assess and hone the entrepreneurial mindset. After all, the entrepreneurial journey is all about believing in oneself, effectively managing tasks, and cultivating the right mindset – The main pillars of entrepreneurial success.

1. Nearly 5.1 million new businesses were started in the US in 2022 (Census, 2023): Oberlo.

2. India’s total entrepreneurial activity rate rose to 14.4% in 2021, up from 5.3% in 2020: GEM India Report (FY 21–22),

The Mystery Behind a Disappearing Workforce

I bet you are noticing, that traditional jobs are fading into the background while a new breed of entrepreneurs are stepping into the limelight. Let me break down this intriguing phenomenon from my perspective.

• One big player in this huge shift is the changing nature of work itself. AI driven automation and outsourcing are acting like the winds of change, reshaping the job landscape as we know it. Where some jobs are vanishing, most of them are not coming back. However, on the flip side, the gig economy and the digital sector on the rise, is likely replacing these jobs. For these new opportunities often come with more flexibility and independence, which is appealing to many. Don’t you think so?
• Ah, then there’s the allure of entrepreneurship! I have been through it many years back. It was like a siren’s call to then, and is sure to be for those who crave autonomy and control. By being your own boss, by sculpting a business from scratch — well, it’s a dream come true for some. Then there’s the prospect of earning more money and making a bigger positive impact on the world, that adds fuel to the fire. Can you feel the adrenaline?
• Now imagine this: people juggling their 9-to-5 jobs, while secretly nurturing their entrepreneurial dreams on the side. This has led to the rise of the side hustle – and even biggest companies across the world are feeling the pinch – (call it moonlighting). Looking at the positive side, from the perspective of entrepreneurs, It’s a clever way to test the waters, to dip your toes into entrepreneurship without taking the full plunge – isn’t it? And guess what? If that side gig blossoms, some people may eventually decide to bid farewell to their traditional jobs and dive into entrepreneurship full time. This is happening in real time!

So, there you have it — my view on the mystery of the disappearing workforce and the emergence of a new wave of entrepreneurs. And this may be your view too. It’s like a dance between the old and the new, the traditional and the innovative, the bold and the beautiful – entrepreneurially (if that can be a word). And in this evolving landscape, there’s room for everyone to find their own path to success. So here’s a checklist that can help entrepreneurs assess their mindset and identify areas for improvement.

World Economic Forum: Projected job creation and displacement, 2023-2027: In the next five years, 83 million jobs are projected to be lost and 69 million are projected to be created, constituting a structural labour-market churn of 152 million jobs, or 23% of the 673 million employees in the data set being studied. This constitutes a reduction in employment of 14 million jobs, or 2%.

Do I Have An Entrepreneurial Mindset?

Try the Self-Assessment Checklist

A. Belief in Oneself

• Do I believe in myself and my abilities to overcome challenges and achieve my goals?
• Am I resilient, bouncing back from setbacks and using failures as learning opportunities?
• Do I have the confidence to pitch my ideas effectively to investors, customers, and team members?
• Am I a leader who inspires and motivates my team with my self-belief?

If somebody offers you an amazing opportunity but you are not sure you can do it, say yes—then learn how to do it later. That’s the spirit! – Sir Richard Branson

B. Task Management

• Have I set clear and specific long-term and short-term goals for my business?
• Do I prioritize tasks ruthlessly, focusing on those that align with my goals?
• Have I allocated specific time blocks for different tasks to avoid multitasking?
• Do I create daily to-do lists with actionable steps to track my progress?
• Am I using task management tools or software to keep tasks organized?
• Do I delegate tasks effectively to free up my time for high-impact activities?
• Have I struck a balance between aiming for excellence and avoiding perfectionism?
• Do I regularly review my task management system and adjust it as needed?
• Have I explored time management techniques like the Pomodoro Technique or the Eisenhower Matrix?

Consistency is key. By maintaining routines that align with your goals, being able to hold yourself accountable, and not shying away from seeking external accountability – Anyone can explore their entrepreneurial instincts.

C. Mindset and Discipline

• Do I have a clear entrepreneurial vision that guides my journey?
• Am I resilient in the face of adversity, seeing failures as stepping stones to success?
• Can I adapt quickly to changes in the business landscape?
• Do I practice positive self-talk and replace self-doubt with affirmations?
• Have I set clear, SMART goals for my business?
• Do I follow daily routines that align with my goals and maintain consistency?
• Am I efficient in allocating my time and avoiding time-wasting activities?
• Do I hold myself accountable for my goals, or do I seek external accountability?
• Am I committed to continuous learning and self-improvement?
• Have I developed systems and processes for my business operations?

In the words of the great Walt Disney, “All our dreams can come true if we have the courage to pursue them.”

D. Growth Mindset

• Do I embrace a growth mindset, believing that I can develop my skills through dedication and hard work?
• Am I resilient, bouncing back from setbacks and using failures as opportunities for growth?
• Is my attitude consistently positive, even in challenging situations?
• Have I cultivated a resilient mindset, thriving in the face of adversity?
• Do I harness the power of visualization to create mental visuals of my success?

E. Employee to Entrepreneur Mindset Transition

• Am I prepared for the shift in mindset from job security to ownership and responsibility?
• Can I embrace risk-taking and uncertainty as part of the entrepreneurial journey?
• Do I adapt quickly to changes and pivot when necessary?
• Am I self-motivated and capable of finding intrinsic motivation for my work?
• Have I identified the financial challenges and uncertainties of entrepreneurship?

F. Career Resilience

• Am I adaptable in the face of changes and uncertainties in my career?
• Can I effectively solve problems and navigate workplace challenges?
• Do I manage risks and embrace opportunities in my career decisions?
• Am I resourceful, making the most of available resources?
• Have I cultivated a positive attitude and embraced continuous innovation in my career?

Successful entrepreneurs say that self-awareness is part of the journey to better our careers and create a happier future. In that perspective, this checklist may help some of the budding entrepreneurs navigate their landscape more effectively. But here’s the deal: self-assessment is an internal process in your journey, but it requires seeking feedback to broaden your perspective.

The Bedrock of Entrepreneurial Success

Successful entrepreneurs say that self-awareness is part of the journey to better our careers and create a happier future. In that perspective, this checklist may help some of the budding entrepreneurs navigate their landscape more effectively.

But here’s the deal: self-assessment is an internal process in your journey, but it requires seeking feedback to broaden your perspective. And it will be best if you discuss your perspective with your mentors! That way, you’re not just analyzing your entrepreneurial mindset; you’re also priming yourself for success.

Hope this helps. I you wish to add your perspective with our readers, do share it in the comments section below.

By

Sameer Bhaduri

Sameer co-founded of Aidasinc in 2008, and is a seasoned Digital Marketing Consultant specializing in maximizing ROI across diverse sectors. With over two decades of experience, he excels in branding, customer acquisition, and strategic marketing initiatives. Through his expertise in areas such as ROMI, research, and analytics, Sameer consistently delivers tangible business growth results, empowering clients to thrive in the digital age.

Disclaimer: Do note, this blog post is for informational purposes only and should not be construed as financial or investment advice. The author is not a licensed financial advisor or investment professional. Please do your own research before making any financial decisions.