"Once I'm in a position where im GIVEN the power to hire someone"
This is exactly what I'm talking about. BUILD SOMETHING YOURSELF. You likely never will and your attitude will accordingly never change.
Say that to your employees and then see how much they would want to work with you after. The fact that you're failing to balance your payroll means you ineffective in allocating resource. At the current rate, you are looking at a failing business not able to rake enough revenue to cover your ass.
And no, your employees wouldn't be jobless if you weren't there. Most likely, they'll find another job elsewhere. You're disillusioned to think that you are the only law employer. In fact, while working at a law firm for two years, a few of our attorneys were snatched occasionally by competing firms. I won't be surprised if yours would too if you were to say that statement right in their face.
I have no business experience? I have around 3 years of experience already working in a financial firm. I've seen people fired and laid off. You know who is more disillusioned? You. You think owning a business is the only way to be successful. How much you want to bet there are millions of people who make more than you, more widely successful than you, even though they don't own a business?
If success is measured only the amount of assets you own then why didn't you become a stock trader? Stock traders probably make more than 10X the income you are currently making and yet, many of them do not own businesses or create jobs. In that regards, you look more like a failure who is having trouble adapting to the changing economic environment and your unchanging attitude provides further proof of someone who is unwilling to change with the time.
It's pathetic that you graduated as an economics major not knowing a thing about reality. Let me guess, you're one of those who are born into a decently wealthy family where you did not need to work during your studies. I've worked since high-school and learned to balance my budget on my own. I give myself 0 exemptions in taxes because I know that by being given a smaller amount of income now, I am less tempted to spend it on unnecessary things. I put my savings in multiple accounts besides my main account so that I have less to spend and have something to fall back on during hardship. I've diversified and developed my skills by working in different fields, from retail and customer services, to infrastructure, to finance, so that I can change when needed. I'm planning to take computer language courses because I know jobs for those are abundant even though I'm an econ major.
I understand it may be hard to change the type of business that your law firm takes on. For that, I will respond in kind. Tough shit. Maybe you should have thought ahead and went into another area of law. Maybe you should have decided to build you business on something else besides law. Many other law firms are not only recovering, they are expanding. Why isn't yours? That's the problem with hedging yourself to one political party. If you are as much as a genius as you're trying to make yourself out to be, you would have had a plan B. You may say that is difficult. Well, how come other law firms can pull themselves out of the financial crisis? If you're holding everyone to your standard, then you should hold yourself to it as well. I don't hedge my skills into one area or one plan. I seek to learn to use different programs and databases, to work at jobs where you may or may not interact with a client, just so I can go to another position if my position is eliminated.
Who knows, maybe I'll one day go into owning a business. Management simulation games are one of my favorite and while they are obviously not the same, the one thing I'll make sure is to have my business flat and flexible so that it can quickly adapt to the economic environment. But yeah, keep me updated on your law firm. If it makes it, then maybe the things you say are worth a grain of salt.
Oh here's a question: Why didn't you use any extra cash you had when business is good and put that into investment so that you have an alternative form of income for your firm?
