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Made Redundant? See It As A New Door Opening…

*Collaborative post.

If you have recently been made redundant, the chances are that you are feeling a little low. Losing your job, even if it is through no fault of your own, can be demoralising. You want to be valued, show your impact and feel like you are an expert at what you do. Just because you have been made redundant doesn’t mean that you aren’t good at your job; it simply means that the company you had been working for can no longer keep you on for financial or political reasons. If you have been made redundant recently, don’t see it as a negative thing. While not a personal choice and the timing may be a little crummy, you can see redundancy as an opportunity to embark on something new with your professional life. Take a look at these inspirational ways to view redundancy as a positive step forward and revolutionise your life for the better.

 

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Career Switch

Don’t think that you have to launch yourself head first into an array of job applications in a rush to get a new position. The chances are that you received some sort of payout to help cushion the redundancy blow. This should give you some much needed breathing space to focus on what you might want to do next. Losing your job can give you sleepless nights and make you worry about the future. However, before launching yourself into a new position immediately and making the wrong professional choice and being unhappy, you should take a breather. Reflecting is vital to help you recharge your batteries and focus on what is important to you.

You might want to take the opportunity to focus on a passion in an effort to turn it into a career. Often when we are fresh out of college, we take the first job that comes our way and we build a career around this. However, this may not inspire and fire us up. What is it that you love? Consider checking out a range of job training courses to help equip you with the skills you need for a potential new career. Just because you were an accountant doesn’t mean you can’t be a car mechanic. And just because you have social media management skills doesn’t mean you cannot be a hair stylist. Focus on what you love and forge a career.

 

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Go It Alone

If you are sick and tired of working for the man (whoever the man is) it’s time to break the mould and go your own way. Consider using your financial cushion to construct your own business plan. Perhaps you want to launch a street food business, or maybe you want to produce your own custom made jewelry, or maybe you want to provide accountancy services to IT contractors. Whatever it is that you want to do, you can. You simply need to be prepared.

Focus on your funding and make some accurate financial predictions in your business plan. Write about your experience from your previous role and never be ashamed to admit that you were made redundant. It’s nothing to be embarrassed about, and potential investors will appreciate your honesty and the efforts that you are going to in order to launch your own venture.

When pitching to a potential investor, ensure that you are suited and booted and that you know your figures inside out. A bank manager may be a scary proposition, but a business angel is even more terrifying. These individuals are experts in their field and use their own money to invest in startups that they think can make them money. They want a strong return on their investment so they will be investing in you as much as your venture. Know your gross from your net figures and be prepared to have your business plan scrutinised. Ensure that you understand the risks that your business may face and have contingency plans to show your potential investors that you have thought of every eventuality, and that you can weather any financial turmoil.

Being an entrepreneur is no easy task, but the door that redundancy has closed, could leave the self employment door ajar. If you have been made redundant, don’t think that you have to find the exact same job elsewhere in a different company. You need to think outside of the box to explore different professional options. This could be your chance to seek out new opportunities, giving you a better work life balance and revolutionising your life for the better.

 

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The Beauty of Self Employment

There are still millions of people fighting hard to secure a 9-5 job, but there seems to be a more viable route that only a few are brave enough to take. Creating your own business is the most lucrative route and if you are deep thinker, you’ll see that it’s true.

 

OOTD A Tartan Dress

 

The reason why many people do not become self employed is because of the risks, challenges and downtimes one has to face before they can make enough to live on comfortably. They think that having a stable 9-5 is a safer way to make a living.

Those who think that way don’t realize that being employed can even be more risky than going self employed because you are putting the probability of you having a regular salary in the hands of others, rather than in your hands, if you look at it in a different way.

I know freelancing/self-employment is not for many people because it takes a lot of passion, perseverance, determination and hard work to sustain any business. Many can’t be bothered with all that and just settle for a regular job with a “guaranteed paycheck” and I understand that. But for those who are ready to take the self-employed or freelance route, here are some benefits you’ll get to experience.

  1. You get to determine your working hours

One of the first things you’ll experience from being self-employed is the large amount of time you’ll have to yourself. Unlike an office job, being self-employed gives you the opportunity to determine your working hours.

The more hours you put into your work, the more income you’ll receive. Since you’re more in control of your time, you get the opportunity to spend time with your family. Setting flexible working hours allows you to work, take part in family activities and enjoy precious moments.

  1. You can determine your level of income

At a 9-5 job you’re only entitled to a fixed salary which is your only source of income. Being self-employed gives you the opportunity to create multiple streams of income. For example, some probloggers have as many as 5-7 sources of income. They earn money from the ads placed on their blogs, sponsored posts, guest posts, product reviews, eBooks, they offer consultancy services, get hired to speak at events, and so on.

The more streams of income you create, the more money you’re able to earn. Freelancers make a good amount of money from passive income streams, so they make money even when they sleep. A wise man once said you an average wealthy person has at least 8 streams of income. How many streams of income do you have?

  1. You will know the true meaning of Freedom

This is something that working in an office will not give you. In a 9-5 you’re stuck within the 4 walls of an office. You have little freedom to work anywhere other than the office. When you’re self-employed you can work anywhere, anytime.

Thanks to the regular streams of income, you have the freedom to travel to different countries and are able to carry your business anywhere you are.

  1. You get to do what you love the most

The sad reality about a good number of employees is that they are working in a job that they hate. When you’re self-employed, you get the chance to build a business around something you love doing. You feel fulfilled with what you do and work no longer looks like work. Instead it’s loads of fun and you enjoy every minute of it.

 

Are you self-employed? How are you finding it?

 

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