In one of our previous lectures, we discussed that work is an investment and the skills you learn are the dividends. If you work somewhere, ask yourself: what are the dividends? What did I learn from that place?
Self-Interrogation After a Job Loss:
- Why Was I Laid Off? Every business has Key Performance Indicators (KPIs), which measure productivity and effectiveness. No business lays off someone who is very productive unless the business collapses. Therefore, it is crucial to ask yourself why you were laid off and conduct a personal interrogation to identify any mistakes. Correct these mistakes before starting your own business, as the same issues could cause your venture to fail.
- What Did I Learn? Reflect on the skills and experiences gained from your previous job. Can these be leveraged to offer consultancy services to other companies in the same industry? For example, if you were an accountant, can you help businesses audit their accounts? If you were a security manager, can you start a security firm? Creativity, resourcefulness, and situational intelligence are key.
- What Needs Can I Meet? Identify the needs in your environment and think about how you can provide solutions. What services can you render? What do you have that is of sale value? This could be anything from skills, expertise, or even physical assets.
Starting Anew:
- Adjusting to Your New Reality If you were in a managerial position, understand that you might not start at the same level in your new venture. Be prepared to start small and work your way up. Use what is available to achieve what you eventually want.
- Selling Assets to Raise Capital Evaluate your assets and consider selling some to raise capital. If you have two cars, sell one to get the necessary funds to start your business.
- Networking Maintain and build your network. Friends and former colleagues who are still employed can recommend you for employment, contracts, or other opportunities. Building and maintaining a strong network is crucial.
Preparing for an Exit Plan:
- Saving While Working Always prepare for the possibility of losing your job by saving money while you are employed. This will provide a financial cushion in case of job loss.
- Exploring Part-Time Opportunities Look for things you can do part-time while still employed. For instance, if you are a teacher, offer extra lessons, teach subjects like mathematics and English on YouTube, or form a group of extra lesson teachers.
Remember, losing a job is not the end; it is an opportunity to start something new and potentially more fulfilling. By reflecting on your past experiences, leveraging your skills, and being creative and resourceful, you can turn this challenging period into a new beginning.
God bless you all.
