I didn’t get around to writing a newsletter yesterday because it has so far been the busiest week of the season for my swimming pool service business, and I have one person to thank – Irene. Last weekend’s hurricane dirtied pools, loosened piping, and blew out heater transformers all over the place. While Irene may have caused damages up to 7 billion dollars, for people doing the cleanup it’s a boom.

Paul Krugman, Keynesian economist and New York Times writer, might argue that hurricane Irene represents an economic stimulus. If that’s true, then our economy should be fine from now on, right? Not so fast, Jack. To get a better idea of how insane Paul Krugman’s economic theories are, click here to see him making the argument that the threat of an alien invasion would “pull us together” and end our economic slump because “fiscal issues would be pushed to the side.” Say what? The idea that destruction causes a net economic growth is an interesting argument, but simply untrue. Jobs may be created, but those jobs are temporary. Plus, in order to create those jobs that create wealth, that wealth must first be destroyed. Not only that, but massive debts would have to be accrued (which in our world means theft from unborn generations). It simply doesn’t make sense. Profits to businesses like mine who are profiting from the destruction of a hurricane are far outweighed by the enormous amount of property damage and other losses, including life. And next week, things will be mostly back to normal for my business, which illustrates the temporary nature of Krugman’s “destructive growth” theory of economics.

Speaking of, this is my first year running my own business, and I love it. I love it so much, that if it somehow failed tomorrow, I would still be glad I started it, if only for the educational value it offered me. Granted, I still have a lot to learn, but I’m taking my first steps towards creating something that will help to give me much greater economic security in the future. I look forward to the day when I can hire someone else to do the dirty work, which in swimming pool business can get pretty dirty. Harsh chemicals, dirty filters and tight spaces are just some of the hazards of the pool business, which are inconsequential compared to the best part of it, which is being my own boss.

I didn’t realize when I had a boss how much I didn’t like them. Don’t get me wrong, I’ve had some very nice and reasonable bosses in my life, but the freedom that comes with making your own schedule and running things your own way is priceless. It’s much harder, as I quickly found, to run everything yourself, but the rewards are great. Before I started my own business, someone else made the schedule. Someone else advertised. Someone else made the budget. Someone else sent the invoices. Someone else answered the phone. Now, I’m learning the ropes in all aspects of running a small business, rather than just the field work.

I think a perspective like this is incredibly valuable. It has made me appreciate the work that others do behind the scenes of a service company, work that is equally as valuable as the service itself. It has also taught me much about economics, just because of the multitude of economic-related choices I must make every day that will affect the business as a whole. What should my route be? How much gas will I use? What roads do I take to avoid traffic? How much should I charge for this job? What materials will I need? How much do they cost? Have I overbooked my day? Have I underbooked my day? Am I charging too much? Am I charging too little? How many clients has this advertisement brought in? Was it worth the cost? Is my website good enough? How many taxes will I pay? When I had a boss, all of these things were determined and decided for me. Now, it’s up to me.

If the above implicit statement hasn’t been convincing enough for you to start your own business, then here’s an explicit one: Start your own business! Take something you like and something you’re good at, and try it yourself. Maybe you’re into cars. Maybe you’re into bicycles. Maybe you’re into computers, or education, or gold and silver. If you don’t want to leave a job because of job security, I would argue that your own business will eventually be more secure than any job you have. With people above you, you’re always at the mercy of their choices and actions. In your own business, you have greater control over your destiny. If you have started your own business, I would love to hear from you about your experience.

It’s worth all the risks, and more.

Thanks and peace,

Nick Foley
The Basic Liberty Letter
http://www.basicliberty.com
http://www.youtube.com/bookofnick
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