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job
own destiny
time clock
realistic goals
pipe dream
business owner
drawback
bookkeeping
own business
business plan
boss
I Lost My Job - What Do I Do?
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I Lost My Job  -  What Do I Do?

It’s pretty common these days to hear someone say, ‘I lost my job’. There are so many people unemployed or underemployed. What a shame that is!

It’s so depressing to be out looking and looking for jobs that just don’t happen. It can feel like you’ve been waiting forever for the right opportunity to come along.

I lost my job before too. That’s when I decided to become my own boss and start a business.

The world is changing at a rapid rate. Being secure financially seems like a pipe dream to the average guy or gal these days.

Why would someone want to start their own business? I can think of a few reasons:

  1. Get a lot of varied experience – When you are an employee, you pretty much specialize in one thing. As a business owner you have to wear many hats. You are doing your own advertising, bookkeeping, sales, and a lot more. So every day will be a new learning adventure.
  2. Greater income opportunity – As an employee, your salary is set by your boss. As a business owner, your salary is only limited by you. How hard do you want to work at it? People can often double or triple what they were making as an employee. The drawback here is that the money is often sporadic, so you must learn to save for the lean times.
  3. Unlimited possibilities – Do you want to grow your business large? You can do that over time. Would you prefer to stay smaller and invest some of your time in other pursuits? You can do that too.
  4. You manage your time – At a job, if you try setting your own hours, you may as well pack up your desk. Owning your time could be one of the best parts of being in business for yourself.
  5. Control your own destiny – You are the one in charge now. No boss to try to impress to get a meager wage increase, no time clock to punch, you are the boss and you make the choices about what’s best for your business.

Before you start a business, remember these key points:

  • Stay motivated
  • Set realistic goals
  • Write down your goals
  • Develop a business plan
  • Discover who your target market is
  • Have a plan to reach your target market
  • Keep your initial expenses low
  • Reinvest in your business to make it grow

If you are saying, I lost my job, what can I do? Now you have one very good idea. Start your own business. Since money is bound to be tight, you will need to find something with very low start up costs. Do you have a hobby that you could turn into a business? Many people do this with success.


Street Talk

Nice one Will. Yeah know what like. Been there .......

Reply
  about 9 years ago

Nice one Will. Yeah know what like. Been there .......

Reply
  about 9 years ago

This is very good advice...thanks for posting about this...I enjoyed the read..

Reply
  about 9 years ago

You're right! Starting your own business with low start up costs makes sense. Good job with this article!

Reply
  about 9 years ago

Thanks so much Cynthia! Really appreciate you taking time to read and comment.

Reply
  about 9 years ago
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