This guest post is provided by Julie Morris.
Even the best employees are at risk of being let go when economic downturns lead to massive layoffs. And a career setback can really take a toll on a worker’s mental, emotional, and, of course, financial health. So starting your own business could be just what the doctor ordered to help you recover from that blow, and here are four reasons why:
You’ll Bounce Back Faster
After losing their job, many people experience grief. Some may even start feeling anxious and depressed. So if you’ve been let go by your company, try not to dwell on the reasons why and focus on the future. Instead of letting disappointment, frustration, or anger bubble up, take this as an opportunity to reset. Brainstorming ideas for a business is a way to get you into a creative mood, which will help you recover quicker from the loss of your job. Either think of a business directly related to the position you were holding, so you can leverage your skills and experience to find your own clients, or start something completely new, for example, by turning a cherished hobby into a profitable venture.
You’ll Learn New Skills
Starting a small business after a layoff can teach you new skills that are becoming increasingly valuable. Since small business owners often have to wear many hats, you’ll gain knowledge in management, marketing, and accounting, and you’ll even delve into digital technologies by using software like CRM, ERP, and collaboration tools to streamline and optimize your processes. So form a limited liability company and start on your journey to entrepreneurship: look for the best LLC service (like Zen Business) to help you navigate all the steps required to launch your LLC, from finding the perfect name to filing for taxes and remaining compliant with your state. If you need help with marketing your new business, then Loudmouse Digital are a great choice.
You’ll Meet New People
You can grow your business by participating in community events and talking to other entrepreneurs. Your local downtown development association is an excellent resource to find out what’s happening in your area and how you can join in. And while a business website is an indispensable tool for any company, along with a strong online presence to increase brand awareness, don’t forget that going low-tech with cleverly-designed flyers and business cards can also get the attention of potential customers. You can find tools on the internet to help you create a business card you’ll be proud to share with the people you meet around town, and they’ll be able to reach out to you or give you referrals when your contact information is on their desk or in their wallet.
You’ll Enjoy Better Work-Life Balance
Becoming your own boss means you’ll be in charge of your own schedule. Whether you become an independent consultant, start a lawn or pet-sitting service, or open a brick-and-mortar store, you’ll have more independence when it comes to setting your hours. You’ll be able to automate a lot of tedious tasks, such as payroll and accounting, to save you time and money. Additionally, think about hiring freelance help for the tasks you’d rather farm out, such as social media marketing, website design, and online content creation. You’ll have more time to do the work you really enjoy while stirring your business toward financial success.
A job loss can be upsetting and stressful. But it can also open the door to new possibilities. So take time to explore new career options, and consider starting a small business to be in control of your own destiny.
Are you a small-town entrepreneur? Then you’ll feel right at home at smalltownrules.com! With how-to articles and an emphasis on social media marketing, we’ll help your business grow and thrive.
