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So, you’ve been let go from your job. Now, what do you do? For many people, they begin looking for a new job right away. They will spend their time searching for and applying to jobs. Then, they will run around town going to interviews until they find new employment. I didn’t take that route, and if you are anything like me, you shouldn’t either. Instead, you should start your own business, and here are some tips to help you.
So, unless you are fired out of the blue, you normally have time to prepare for being laid off or let go. This could mean saving money, or starting a side hustle to bring in extra income. I wasn’t prepared to be let go, but I knew that I didn’t want to stay with my employer past the end of 2016. With that thought in mind, I started cutting back on expenses and saving as much money as I could.
Planning ahead financially can save you a lot of hassle and frustration. Also, having a business plan when you start your own business really helps. It could be as simple as having a sheet of paper with your dreams and how you plan on achieving them. This can help you decide what is worth working towards in your business.
(Need a no-hassle business plan? Click here to get access to my free resource library and grab your own copy.)
Don’t Cry Too Long
It is hard not to cry or feel sad when a negative life event happens. I am not an emotional person, and even I cried when I was let go. I had poured my blood, sweat, and tears into a company that could care less about me. In the end, it all boiled down to choosing them or choosing my family. Of course, my family won. I cried all of two minutes before my husband sat me down, looked me in the eyes, and told me to suck it up.
He then went on to tell me that almost everyone has been fired at least once and that in reality, I didn’t want to work for them anyways. He gave me a big hug and a kiss, and let me know that he would stand behind me no matter what my next step was. After getting a few tears out and a reality check, I picked myself up and moved on. This may be hard for you, but please don’t stress and cry over an employer who didn’t see your potential and vision. Instead, cry for a little bit, pick yourself up, and start your own business.
Reach Out To Your Network
I will be honest with you, I didn’t really have a network when I first ventured out on my own. Although I don’t regret not having one, I will tell you that a network can save your butt in many situations. For example, a few people in your network could be your first clients. By pitching your services to people you already know, you have an advantage to people who aren’t connected. These people could then refer you to others, and from there, your business could grow exponentially.
Don’t fret if you don’t have a network, but at least start making the effort to build one while you start your own business. Be genuine, be kind, and explain your situation. I reached out to bloggers and businesses that I had followed for a while, and I let them know my situation and how I would love the opportunity to work with them. I didn’t lie or overexaggerate, I just let them know that I was looking to work with like-minded people that I admired. Not everyone took me up on the offer, but the few that did have helped change my life and business!
Make A Schedule
Having a schedule helps keep things in perspective and will help you manage your time wisely. Your schedule can be as basic or as complicated as you want, but I believe that the more simple your schedule, the better you can manage.
The fact is, without a schedule, you will have no direction. As a mom, it is hard to focus on just one task, but I know if I ever want to truly get things done I can’t multitask all the time. Even if you aren’t a mom, you still need to be as efficient as possible, and a schedule will help keep you on track.
I can’t really preach here, but self-care is so important. I am normally the person to give my all to everyone else, and not have any left for myself. You may call it selfless, I call it a mistake. How can I expect to take care of those I love, and my business, if I can’t even take care of me?
I fall short on this a bit, but I try hard every single day to take just a few minutes for me, and you should too. This could be something as simple as giving yourself a pedicure or taking a long hot shower. I can tell a difference in my mood when I haven’t taken any time to myself. I know that a healthy mama is a happy mama, and the same applies when you start your own business. You do your best work when you feel great.
Start Your Business Legally
I hate anything related to policy and procedure. I’ve always been the rule breaker and a nontraditional type of person. However, when it comes to business, you can not do things the wrong way. Unless you want a million people out there suing you and taking your money, you want to make sure your business is safe and sound legally. It may suck to spend money on things that you can’t justify the costs of at the moment, but I promise if or when the time comes, you will be happy you covered your butt.
It is best to talk to an attorney before you start your own business, but your state should have a bit of information on the legalities of running a business. My first tip would be to get insurance and a business license, but everyone’s case is different. Just make sure you follow the law, both in your state and federally. Oh, and don’t forget that now you have to pay your own taxes. You don’t get to keep all that hard-earned money, no matter how much you want to. I use a bookkeeping system that helps me pay my taxes easily, but you can always pay taxes in a way that’s most comfortable to you.
Do Your Research
Oh my, I did not know that I would do more research for my business than I ever did in school. Every day, I am learning something new or looking something up. If you want to start your own business, you have to do your research. You will have a few trials and errors, but there are plenty of resources out there to help you. Take advantage of them, and don’t be afraid to take a few days to learn instead of work.
If you want to grow your social media, start researching how. If you want to start a blog or website, look up other people who have successfully done this. There really is no excuse to not continue to learn, and it is up to you to continue to grow your skillset. Also, learning and growing can help you gain new clients or business, so it really is a win-win for you.
While being let go may seem like the end of the world at first, you can use the opportunity as a kick in the butt to start your journey to entrepreneurship. This life isn’t for everyone, but for those that are willing to work for it, it can be a worthwhile experience.