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from Laura Berman Fortgang

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entrepreneurs

Is It Time for Your Own Business?

By Laura Berman Fortgang on January 27, 2022

According to the Census Bureau, more than 4.4 million new businesses were created in the U.S. during 2020 — the highest total on record. For reference, that’s a 24.3% increase from 2019 and 51.0% higher than the 2010-19 average. Half a million new businesses were started in January 2021, alone.*

What does that mean for you if you’re thinking of making the leap? It’ll mean you’re not alone, you’re not crazy and that the time has finally come for you to oversee your own schedule and destiny.

Will it be easy? NO.

But is it possible? YES.

Here are some things to consider if you’re contemplating your corporate exit:

Time

Will you create a side-hustle or leap in full time? It can take one to three years to build a sustainable service business depending on your network and propensity for hustle.

Money

It’s not out of the question to be able to start a service-based business with a few thousand dollars if equipment is not needed, but it’s all about how fast you can get cash coming in.

Figure out if you’ll be funding this yourself and how long you can go without an income as you build. If you are going to try to secure funding from family and friends, make very clear agreement and discuss each other’s expectations.

Here is a general idea of some things to budget for and what to think about.

What are you selling?

Where your original idea can change over time, it’s important to know what you are offering and for how much. How will the marketplace value your service? Does it match what you hope for? Do some informal market research speaking to several people you feel might be potential customers down the road. Find competitors and get a sense of what is working out there.

(Note: If you test this with friend, they will not be a good gauge of your worth in the marketplace. They are not likely to offer up big numbers that they wouldn’t pay themselves but remember others might)

Gaps in strengths and knowledge

You have to be honest with yourself. What is the skill you can’t wait to charge for? The result you can’t wait to create? Then, ask yourself what could get in the way of you being paid to use/create that? Are you afraid to talk to people? Are you unclear about how to market your service or even how to have a sales conversation? Do you have a hurdle to climb when it comes to understanding the technology, you’ll need to be all things as a solopreneur?

It is critical that you do an honest assessment and start upgrading your skills to fill the gaps or identify a partner or help that could be a part of the business to make it succeed.

Your odds

Just like adding kids to your life, or buying a home, you can’t wait for the perfect timing because there is no such thing. However, the trend is here and it’s a favorable time. Remember though, that according to JP Morgan Chase statistics, roughly a third of new businesses exit within their first two years, and half exit within their first five years. The survival rate of new businesses has been remarkably consistent over time.

All that means for you is to do your homework and prepare. Consistency of action, some planning, and a tremendous amount of gumption (fear is a good motivator!) are what will put you over the top.

Filed Under: Taking Action Tagged With: entrepreneurs, Following your passion, Now What Coaching, Opportunity, take action

INTEGRITY – Does Your Work Have It?

By Laura Berman Fortgang on May 12, 2021

Let me catch you before you head in the wrong direction.

This is not a post lecturing you on honesty and character in the workplace.
No.
Not at all.

The direction I want to point you in is understanding integrity in the context of wholeness.

If a structure had no foundational integrity, it would fail. If your life has no foundational integrity, it will be very, very messy, and likely, dramatic. If your work has no integrity, it’s not aligned with who you are.

The past year of Pandemic Living has revealed many fissures in the infrastructure our lives and shined a spotlight on work/careers whether you got to keep your job or not. It either gave you time to think or time to be in very close quarters with issues you were either ignoring or didn’t know were there.

If you are sitting with a set of discoveries, none too comforting, then you may feel out of sorts.

How do you get back into integrity?

Rubik's Cube and integrity in your workGetting to wholeness requires telling the truth. It’s not easy to take a good, hard look at yourself and what has brought you to this point, but there is no escaping it. The truth will be your ticket to the other side whatever challenge you are facing now.

The steps are simple but require inner work to battle back the logic that tells you it’s not possible to make a change:
  1. Face the truth of what’s keeping you from integrity
  2. Name what’s missing
  3. Keep experimenting with what you have (resume/background), and want like playing with a Rubik’s Cube (OK maybe something not that difficult) so that
  4. you hit that moment when it clicks, the colors line up and the cube (and you) are WHOLE and in full INTEGRITY.

Three recent clients in my private practice have brought this integrity dilemma to our work as we contracted for me to help them gain clarity on their next career iteration. All three in hefty careers, all three knowing their industries no longer fit them. Who they are (what they want, value, need) was no longer aligned with what their industries contributed to the world, and they didn’t know what else they could do or be successfully employed at.

From the polluting side of energy to the sustainability side, from legal doldrums to an exciting and creative use of that skill set in the arts world and the seemingly happy kids’ clothes world to something (yet named, new client) that does not create as much waste and horrible working conditions for factory workers.

These are the kind of journeys back to integrity and wholeness I and the facilitators at Now What? Coaching takes people on from all walks of life.

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Filed Under: Following Your Passion, Inspiration to Follow Your Blueprint, Now What? Newsletter Articles Tagged With: Career Change, Career coach, Career Coaching, career path, career reinvention, career transition, entrepreneurs, Following your passion, new direction, Now What Coaching

The Helplessness of Career Transition

By Laura Berman Fortgang on February 10, 2021

Day in and day out I talk to people who are on a quest to make a change in their work and, therefore, their lives. With that daily privilege comes a front row seat to all the ways that people get in their own way. I’m a witness to helplessness in career transition and as harsh as this may sound, I think the helplessness is a convenient excuse.

Lorraine (name changed to protect confidentiality) was part of a COVID purge and was deflated by the swift and unexpected turn of events in her life. Perfectly understandable she had feelings of betrayal and loss. She could withstand unemployment for a while, but she felt paralyzed by the prospect of finding a new job during an economic downturn.

She admittedly enjoyed some time off, but as the days grew to weeks and then months, she found herself spinning and procrastinating. It was easier to focus on her kids and home projects. She didn’t even want to face the computer and plant herself down to research or apply for jobs online.

Sound familiar?

The Helplessness of Career Transition

Let me offer some different ways of thinking that can help you plant your butt in that seat and put daily action into your job search.
You must shift from:

• Victim to Opportunist — What if life’s sideswipe was not something that happened TO you but rather it was something that happened FOR you? This “new-agey” adage is becoming cliché, but it’s so accurate. Seeing yourself as a victim of this circumstance is a waste of time. Instead, realize it’s an opportunity to correct what you may have not liked about your previous post.

It may be the very kick in the pants you needed to make a change or at least wake you up out of complacency and make you take a good hard look at yourself. What if this really was part of a plan to get you on a path to something better? What will it take for you to see it as an opportunity?

• Lost to Grounded — So many clients feel lost. I know it’s unsettling but feeling grounded, focused and on a path is instantly available. Adopt a different mindset. Reframe “I’m lost” into “I’m uncomfortable not knowing my destination” or “I’m figuring it out.” Both are more powerful than “I’m lost.” It’s OK to not know where you’re headed as long as you make the work of finding the next thing your current destination. You’re on a path to finding the next thing.

• Scared to Willing — Fear is normal. It can be a great motivator until it isn’t because it freezes you, making action impossible. All you need is the will. Are you willing to do what it takes to get to the next job? You don’t have to know exactly HOW you’ll get there, but you have to be willing.

Your thoughts determine your action. If you’re scared and action is zero, “willing” will move you into action. What are you willing to do?

• Loser to Winner — It is FAR too easy to start believing you’re a loser because you were let go or something came to an end without your permission. I had a conversation yesterday with a man who was let go from his last two jobs. He had a sad sack story and was sliding into the pit of despair.

I asked him if it was his fault that those two jobs disappeared. The answer was equivocally no. There was no performance-based reason. These were cutbacks due to the policies of the last four years and then COVID. Surprisingly, saying it out loud that his losses were not his direct fault freed him from his “sad” story, and he was very energized as he told me his thoughts about the changes in his industry that led to the cuts.

He left the conversation with some clarity about where he could find new opportunities just by changing his MIND!

Helplessness is a result of not having practice. Who practices being unemployed? Nobody. There is no preparation training or even discussion about it. It likens to a tabu disease that evokes shame as if it were your recklessness that brought it on.

If you get no practice for being in between jobs (we hope you don’t have practice!), then how should you know how to cope? You don’t. Therefore, what’s required is more discipline and structure than you had when you were in a job. You have to create that for yourself.

Help yourself because it makes you MUCH MORE ATTRACTIVE as a candidate for employment. Would you hire the sad, helpless person, or the one who exudes well-being and clarity about their value?

Hmmmm. Come on, hop to it! You’re not helpless. Use your resourcefulness the way you would if this were a fun creative project you had to figure out. Pretend, if you have to. A new opportunity awaits.

Filed Under: Job Change, Lessons Learned, Life Lessons Tagged With: Career Change, Career coach, Career Coaching, career reinvention, career transition, Change, Clarity, entrepreneurs, life coach, Opportunity, transition

Strip Away Your Past – Reinvent Your Future

By Laura Berman Fortgang on September 30, 2019

Pun intended!

Here’s how one woman changed everything to follow a new career path that better suited her.

How to Reinvent Yourself at Any Age

Filed Under: Inspiration to Follow Your Blueprint, Job Change, Job Satisfaction, Reinventing Yourself, Taking Action Tagged With: Career Change, Career coach, Career Coaching, career path, career reinvention, Change, Clarity, entrepreneurs, life coach, new direction, Now What Coaching

A Surprising Way to Learn a Little More about Yourself

By Laura Berman Fortgang on September 9, 2019

When it comes to crafting your resume, there are things you might overlook or take for granted.

It might be worth combining your personal attempts with an automated resume builder – at least that’s what this writer discovered. Can’t hurt to give it a try!

4 Surprising Career Lessons I Learned From Using a Free Resume Builder

A Surprising Way to Learn a Little More about Yourself through Crafting Your Resume

Filed Under: Job Change, Job Search, Lessons Learned, Life Lessons Tagged With: Career coach, Career Coaching, entrepreneurs, Laura Berman Fortgang, Now What Coaching

Dare to Dream!

By Laura Berman Fortgang on July 18, 2019

Follow your dreamsBottom line: “Life is short. Our days are numbered, so why spend them doing something we don’t love? It’s time to make a decision to go for it.”

If you don’t try, you’ll never find out what might be possible. You have one life. Don’t miss it!

11 Reasons Why It’s Important to Follow Your Dreams

Filed Under: Following Your Passion, Inspiration to Follow Your Blueprint, Job Satisfaction, Lessons Learned, Life Lessons, Taking Action Tagged With: Career Coaching, career path, entrepreneurs, Following your passion, Now What Coaching, take action

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