For the month of January, I’ve been focusing my column on fresh-start career topics with the hope that a new perspective might provide the bridge from a tough year to one with more promise.
So far, this short series has covered fresh starts in terms of relocations, return from long-term unemployment, education upgrades and career changes. Today we wrap up with a look at business startup as another way to create a new beginning in your work life.
This is a topic near to my heart, having started several businesses of my own, while also counseling others as they consider this option. Over the years, I’ve noticed some interesting shifts in the perception and process of business startup.
For example, we used to think of a newly opened business as someone’s lifelong career path, while now it’s common to hear about serial entrepreneurs, ready to sell and start the next company as quickly as possible.
One of the most dramatic shifts has been the ease with which one can start a business these days. Registration processes that took weeks in the past can be accomplished in minutes; marketing and outreach can be conducted without leaving the house, and customers can be served across the globe as easily as next door.
Whether this ease of opening is a good thing depends on your perspective. As a career counselor, I celebrate my clients’ opportunity to try something without having to completely commit. But I’m also wary of the half-in, half-out mentality that comes from not giving something your all. It’s a yin and yang thing that I’ve learned to take on a case by case basis.
If you’ve been considering a business startup, you might be surprised to discover that this is an excellent time to make the leap. In truth, it may be the best option available to you, if your industry is struggling or you have difficult prospects for working right now.
Even in these challenging circumstances, there are rays of opportunity. For example, you might find that stimulus checks or government assistance will provide enough financial cushion to make a modest startup possible. Or perhaps you’re feeling less pressure for a quick return to work during the pandemic. You might also feel more freedom to experiment, knowing that future employers may judge this interim period less critically than in pre-COVID times.
Whatever your needs and opportunities, if business startup has caught your attention, these steps will help:
1. Choose a business. In the old days, this would have been a months- or years-long process. But with less infrastructure needed than in years past, you can experiment more freely. For example, have you been wanting to design clothing? You can start with a few pieces on Etsy rather than investing in seamstresses and a storefront. Go ahead and select a business idea that interests you for any reason, and let the process help you determine if it will work.
2. Define your investment. How much are you willing to spend (and potentially lose), over what period of time? How many hours a week are you willing to invest in operating your business? If your limits are too confining — if you can’t invest much money, for example — what are you willing to do to close the gap? Will you ask for loans (which will have to be re-paid)? Trade a slice of your company for cash, if you can find a taker?
3. Plan your first steps. A calendar will come in handy here, as things tend to get done when they’re scheduled. The actual list of steps will vary, but could include: researching your idea, finding an adviser, registering your company, opening a business checking account, making a web site, identifying your products or services, creating inventory, etc.
4. Go after your first sale. Surprised? No time like the present. If you can’t sell something to somebody, you won’t stay in business for long. Trying out your sales pitch is a good way to discover what works and doesn’t work with your business idea. And if you don’t feel comfortable selling? Well, that’s a hurdle you’ll have to manage somehow. If you’re not going to make sales, you’ll have to find a partner or employee who will.
5. Have fun. If you’re not having fun doing your business, fix the problem or stop. You’re almost certainly going to be working for peanuts, so why be your own worst boss besides? Let it go and you can start again with your newly-acquired knowledge when the time is right. In this way, you can have multiple fresh starts, with each one launching from a better place than the last.
Amy Lindgren owns a career consulting firm in St. Paul. She can be reached at alindgren@prototypecareerservice.com.
The Link LonkJanuary 31, 2021 at 01:29AM
https://www.twincities.com/2021/01/30/working-strategies-starting-fresh-in-2021-starting-a-business/
Working Strategies: Starting fresh in 2021 – starting a business - TwinCities.com-Pioneer Press
https://news.google.com/search?q=fresh&hl=en-US&gl=US&ceid=US:en
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