As a career coach, I frequently run into interesting (to say the least), and seemingly unique situations that my clients face over the course of their careers.
Given that I work with women and a few men who are in different points along their career continuum (different stages of their careers), many times my clients come to me when they are facing a difficult decision and/or a turning point (crossroads) in their career. Over the last few months I have known several self-employed people (2 clients, and 1 acquaintance), who decided to accept a full-time position with an employer, and who ultimately ended up back out on their own!
It is not uncommon nowadays to start your own business as a natural progression in a career. This can happen for many reasons, which will be discussed in a future blog post. Today, more women than men are starting businesses, again for a variety of reasons:
1) The need for more flexibility for their family than the traditional corporate environment provides!
2) They have worked for 20-30 years in Corporate America and they are “DONE!” or else have accepted an offer for an Early Retirement Package.
3) They don’t want the obligation of a full-time job.
4) They have a passion to do something else!
5) Reached a career dead-end.
6) Want to nurture and grow something they have created!
What can be really scary for most people is the “start-up phase” of starting your own business – in other words, how quickly can the business get up and running and make money?
Earlier this month I was speaking on the “The Pros and Cons of Self-Employment” to a group of high level managers who had recently been laid off. One man present had started his own business, but he attended the session because he was trying to decide whether or not to “continue struggling” or go back to a full-time job. Turns out he had started his company about 18 months prior, and that is actually the hardest time to get through – those first 2 years. I asked him if he could “hang on” for another 6 months; that his business was likely to take off soon (I don’t know if he believed me or not).
I have another client who returned to the corporate world after many years out on her own. Why did she do it?
She had been self-employed for many years, and her business was slow financially (feast-or-famine). She was offered a very attractive position at a high salary at the premier company in her field! It was hard to turn down.
So these two situations bring up an interesting question: Should you give up on your business when times get difficult, or take a chance on a new opportunity?
I guess the answer is different for everyone.
Tenacity and persistence are a big part of being in business and being successful. For me, personally, when I went back to work for a corporation after being out my own for years, it was a chance to work on bigger projects and learn new technology, not to mention that I needed a change because I was very burned out teaching software. For some people, especially those who have never done it before, going out on your own can be very scary, even with all the self-confidence and self-belief in the world.
So given all of these situations, let me ask you:
If you look back at the end of your life, will you regret not having done something you wanted to do (like start a business)?
Is it better to have tried (or taken a risk) and failed, than (to live with the regret) of never having tried at all?
How about starting a business and once it become successful, where does it end? What are your options? (Perhaps that is the subject of another blog post!)
