Is it really over?

Federal Reserve Chairman Ben Bernanke said today that the worst recession since the 1930s is probably over, although he cautioned, “Pain — especially for the nearly 15 million unemployed Americans — will persist.”

The article went on to say, “Some economists say it will take at least four years for the jobless rate to drop down to a more normal range of 5 percent.” The way I read that is “for a lot of Americans, the wait to become employed again could take an enormous amount of time.”

But I believe that when it comes to pain, unemployment alone doesn’t tell the whole story. Those who are jobless aren’t the only ones suffering.

There are also millions more who are underemployed… and even more who have taken partial pay cuts of varying degrees. The media doesn’t talk about them. Congress doesn’t address them. The President doesn’t seem to give them much attention. Yet they are hurting… maybe not as much as someone who is without any income, but they are feeling the pain.

One salesman I know works primarily on commission. He told me that his commissions are down more this year than last. It has taken a huge bite out of their household income. No vacations. Nothing extra. The family analyzes every expenditure.

A woman I know here the New York City told me she and her husband have been digging into their savings over the past two years to cover what she termed “out of the ordinary expenses.” She realizes that not only do they need to get their household earnings back up to the prior level, but they also need to replace the savings they’ve been depleting.

If you’re reading this blog, you know me — that I am an entrepreneur. I always have been and always will be. I don’t know anything else (except, of course, early in my career when I was doing time in Corporate America).

I believe more strongly today than ever that I’d rather be on my own — in my own business — than putting control of my life and personal finances in the hands of any employer.

But people who are not yet entrepreneurs run for the hills when they hear the words “self-employed.” Would it surprise you to know that I believe that everyone (well, almost everyone) has the potential to be self-employed?

I believe that it is possible to walk before you run… to start small… test the waters… and then, when your business idea starts to prove itself, go full speed ahead — more in control of your own destiny than ever before.

So I say, “Try it. You’ll like it.”