Strike Out on Your Own to Gain Confidence After a Career Setback

Career setbacks are frustrating and disheartening, but they don’t have to be permanent. If you’ve experienced a setback in your career, starting a business may be the answer. From calling all the shots to choosing the people you work with, the benefits of running a business are many. Let’s take a look at a few reasons why you may want to consider starting a business after experiencing a career setback, plus some tips on how to make the process easier.

You'll Have Total Control

When you start your own business, you are given the opportunity to call all the shots — something that is often difficult when working for someone else. You get to decide what products or services you will offer, how much to charge for them, and how long it will take for clients to receive their orders or services. You also have control over who works with you, which can help ensure that everyone on your team is reliable and trustworthy (more on this later).

Protecting Your Assets Is Easier

One of the most important steps in starting any business is forming an LLC (limited liability company). This structure shields you from personal liability for any debts or obligations that arise from your business dealings. It also gives your business legitimacy by making it officially recognized as its own entity separate from yourself. Lastly, forming an LLC allows you to get favorable tax treatment and protects your personal assets in the event that something goes wrong with the business.

Tools and Apps that Make Your Life Easier

There are so many helpful tools and apps available that make running a small business easier than ever before. For instance, if you start a contracting business, you’ll be in the field a lot, so it will be important to keep your paperwork organized on the go. You can use a scanner app to take smartphone photos of contracts, receipts, and design plans and convert them to PDFs. This way, you can download them and not have to worry about keeping paper copies, and because they’re PDFs, you can easily send them securely to clients or business partners. They can even be encrypted for added protection. Go here for a great mobile scanner app.

Have the Best Possible Team on Your Side

When it comes time to hiring employees for your new venture, choosing people who share similar values as yours guarantees success down the line. When everyone on your team shares core values, such as integrity, a hard work ethic, and respect for one another, your chances of achieving success increase exponentially because everyone is working together toward one common goal. And since it’s ultimately up to you who gets hired at your company, you can rest assured knowing that everyone has been thoroughly screened and vetted before being brought on board, which helps you avoid duplicating mistakes from your previous experience. 

Reeling in Clients

One way businesses often market themselves is by handing out custom-made business cards with contact information on them at conferences or events they attend. This makes it easy for potential customers or partners to easily contact you and gives them something to remember you by. Business cards are a great networking tool, too.

Starting a business after experiencing a career setback might sound like an overwhelming endeavor, but with so many resources at your disposal, it doesn't have to be. By utilizing software tools and taking the time to thoroughly plan out your venture, you can ensure that it's a success.

Join the North Country Chamber of Commerce to get access to events and resources that will help you build your business!