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Here at the-Coaching Blog-run by Gerard O’Donovan, our aim is to constantly bring value to those seeking to improve their lives. Therefore we have a policy of publishing articles and materials by guest authors whom we value and appreciate. Today’s guest author is Larry Mager (ReadyBrain.net).
Suffering a career setback can be devastating, especially if you’ve worked hard for years to get to where you are. Depending on what the circumstances are, you may even be feeling depression or low self-esteem following the setback, which can make it harder to move on. If you’ve recently lost your job or got denied a promotion, you may be rethinking your career path, and that’s natural. Don’t let it stress you out; instead, think of ways you can use it to your advantage.
One of the best ways to begin moving on is to start your own business. Becoming self-employed may seem like a big leap, and it can be scary at first, but you may be more qualified than you think. If you have a hobby or interest that can be turned into a business, do some research to see what the market is like in your area. Is there a need for your particular skillset? Is it something you can do from home, or will you need to think about finding a storefront? Once you’ve answered these questions, you can begin the process of going into business for yourself.
Here are a few ideas on how to get started.
Do some research
Once you decide to be self-employed, you’ll need to do some research to find out what sort of businesses exist in your area. If there are companies similar to yours, look at their business model to see how they manage customer needs and what their price points are. Check into what the average cost is to rent a storefront and think about what your own needs will be; will you be able to service clients from your home by yourself, or will you need an employee or assistant? Take into consideration how much time you’re going to need to spend building your business.
Get educated on taxes
Owning a business or becoming self-employed means you are responsible for your own health insurance and taxes, so talk to an accountant right away and get everything set up as soon as possible. When all the business income is going straight into your own pocket, it can be tempting to spend freely, but you need to remember to put money away in the event of a slow month. Most self-employed entrepreneurs pay their taxes quarterly instead of annually, so talk to your accountant about how to set up a payment plan; this way, you won’t get behind and end up owing thousands of dollars come March.
Think about all your options
Being self-employed doesn’t have to mean owning a business; you might be interested in becoming a real estate agent, which is a great option for people who feel they aren’t getting anywhere with their current job. Working in real estate allows you to go somewhere new every day, set many of your own hours, and stay social while making great money. Check this Purple with savings account help you to track your money online. Plus, it’s something you can do in any city, so if you decide to make a move, your career won’t take a hit.
For more information on how to get into real estate, read on here.
Network
Networking is a great way to meet new people in your business. Not only can it help you make connections that could be helpful to you down the road, but these might be people who can mentor you and assist you when you need advice.
Be kind to yourself
Starting a business isn’t easy, and there will likely be setbacks or unforeseen circumstances. Don’t let it get you down! You’re branching out and doing something for yourself, so try to stay positive. Don’t let one or two disappointments make you want to quit; stay the course and you’ll more than likely find that you’re right where you need to be.
Remember that you’ll need support during this time; talk to friends and family about your ideas and plans and ask for their help when you need it.
Credit Source:
Author: Larry Mager (ReadyBrain.net)
Subscribe to get free coaching reports to my coaching blog site: http://www.coaching-blog.com/making-comeback-starting-business-career-setback/
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