Why now is the best time to build your own thing!

Why now is the best time to start your own business!

Since 2022, there have been over 700,000 tech layoffs. And unfortunately, the trend isn't slowing down. I've personally spoken with people who have been job searching for over 18 months without any luck. A few interviews here and there, but no offers in sight.

The biggest contributor to these layoffs is AI.

It's no surprise that the very thing we were scared of taking our jobs is literally taking jobs. Companies have been investing more in AI models than talent. For example, in 2023, Microsoft fired 10,000 employees but invested $10 Billion in OpenAI. A company with just 375 people at the time. IBM's CEO also announced a hiring freeze for 26,000 roles, stating AI could erase 30% of back-office jobs in 5 years.

The AI revolution is happening now. Not in 5 years. It's literally changing the current job market.

But it's not all doom and gloom.

I've seen people rise from the rubble and bet on themselves, like Emily Pitcher, a fellow Forbes 30 Under 30 honoree who lost her job at Meta in 2023. She tried job searching for months but struggled to find a new role. Out of frustration and not knowing how long it would take, she decided to work on her own game and promote it via Instagram. Fast-forward to today, and she's been able to generate revenue by working full-time building games.

The winners in this market will be those who have options and don't rely on a single paycheck from a single employer. Now is the time to diversify and build a business on the side.

I've spoken to over 100 tech professionals, and while over 80% of them want to explore entrepreneurship, there is a lot of fear associated with starting.

Fear of wasting time.

Fear of burning money.

Fear of failing publicly.

Fear of doing it alone.

I know it's scary; believe me, I was also scared when I first started. But now, starting a business is much easier than ever.

My biggest advice for you...

Think like an employer and learn how to leverage AI to solve important problems for people.

If you want to learn more about how to turn an idea into a real revenue-generating business, I'm hosting an event later this week for my community. My goal is to share the key lessons from my journey of building Co.Lab and also share actionable ways you can test out the ideas you have without quitting your job.

It's FREE to attend, so register and see you there.

I'll also be giving out an actionable guide on how to validate a business with $0 for those who attend the event.

But if you can't make it to the event, here is a quick guide to move through the fear and get started on your idea:

✅ Start smaller than you think

✅ Talk to real people with the problem

✅ Find someone to do it with

✅ Set a 7-day experiment

✅ Take one step. Then the next

The future belongs to those who take action to make their dreams a reality.

Best of luck, and I hope to see you soon.