Some of history’s most inspiring stories were born from adversity. Walt Disney faced bankruptcy, stolen copyrights, and employee strikes. Michael Jordan was cut from his high school basketball team. Steve Jobs was pushed into the background of Apple, which he co-founded, and left to begin a new company for a few years (which wasn’t very successful).
Life’s challenges are inevitable, but it is how we handle them that determine whether or not we are successful. For those who are currently experiencing a career setback, be encouraged that it is only temporary, and take the chance to start your own new venture. All you have to do is find your passion, create a business plan, and start small. Before you know it, your career setback can catapult you toward your dream career.
Have you ever heard the phrase: “Do what you love and you will never work another day in your life?” What is that one thing you are most passionate about? Popular speaker Kris Vallotton says, “Find the thing you would do for free everyday and you’ve found your passion.” Is there something that you already love doing that you could turn into a business? Perhaps you love gardening and could create your own landscaping business. For those that love finding the right gifts for people or supporting other small businesses, you could start your own subscription box business. If you are a musician, there are a variety of opportunities to play at weddings, anniversary parties, community events, etc. You may even decide to try out a new field that you hadn’t considered before, such as becoming a real estate agent. That one passion can become the career that doesn’t just pay the bills, but helps fulfill your dreams.
Of course, once you find your passion, there will be some legwork involved in order to make it a practical, money-making enterprise. This is when a business plan should be drawn up and carried out. Topics like the vision statement, plan of operations, budget, and marketing strategies should be discussed with all of the business partners. If you plan to obtain investors, make sure you provide them with a clear presentation, and consider including a prototype of the product; be open and honest with them about any current sales or debt you may have accrued. You might consider reaching out to a business consultant to discuss the ins and outs of your specific industry while you are still in the beginning stages. The more preparation you do ahead of time, the easier it will be to face the additional challenges that may arise.
Oftentimes, entrepreneurs jump into grandiose plans too quickly, rather than following a slow but steady plan of action. This typically results in additional debt, unnecessary layoff of employees, and discouragement to get back up and try again. The wisest decision you can make is to choose a realistic plan that ensures an incline in sales without yet another career setback. Take everything you learned in the business plan stage and map it into a weekly, quarterly, and yearly schedule. Then, create a few goals for the end of the year and five years from now. Once that is done, outline a few simple ideas for how you can obtain those goals. There are loads of success stories out there to help inspire you; maybe you could interview a few other successful people in your field and get some networking in at the same time.
The climax of your career could just be one well-faced challenge away. Once you can view it as an educational business experience, you can find your niche, and allow it to pave the way to your success story. Turn your career setback into your career comeback!